Skip Header
Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

Conroy Gold releases scout drilling assay results

(Sharecast News) - Conroy Gold released assay results from scout drill holes conducted on four gold targets in its exploration areas on Monday. The AIM-traded firm said the targets, located in the Orlock Bridge and Skullmartin gold trends, were part of its joint venture with Demir Export.

It said its company's licensed areas in the trends now spanned over 1,000 square kilometres, and were identified through geophysics and geochemical sampling.

In the Orlock Bridge Gold Trend, the Corcaskea Gold Target drilling programme - a part of the larger Clontibret gold target - yielded promising results.

The drill holes, located about 200 metres north of a previous hole, intersected gold mineralisation beyond the existing Clontibret resource area.

That discovery suggested that the Clontibret resource remained open for further exploration in all directions.

However, some mineralised lode structures in the recent drilling had poor core recovery.

Moving to the Corraweelis Gold Target, situated within the Slieve Glah gold target area, two drill holes were completed.

The holes were strategically placed based on highly-anomalous gold values obtained from deep overburden sampling.

Conroy said the results marked the first gold-in-bedrock intersections in the Corraweelis gold target area, extending over 500 metres in length and still open at both ends.

The Dunraymond Gold Target, located within the Glenish target, was explored with two drill holes.

Conroy said the holes tested interpreted structures within a large deep overburden geochemical gold anomaly.

While one of the drill holes intersected a significant fault zone, the other targeted a large dyke.

At the Creenkill Gold Target in the Skullmartin Gold Trend, seven additional scout drill holes were completed, adding to the geological understanding of the area.

Three distinct occurrences of gold mineralisation were identified in Creenkill, including quartz breccia, quartz vein, and fault gouge.

The target was a key component of the newly-identified 24 kilometres Skullmartin gold trend.

Conroy Gold said it completed a total of 2921.4 metres across 14 drill holes in the scout drilling programme.

"I am very pleased that the Joint Venture has enabled the company to carry out an extensive scout drilling programme which has added considerably to our knowledge of the geology and mineralisation of the two district scale gold trends which the company has discovered," said chairman Richard Conroy.

At 1201 GMT, shares in Conroy Gold and Natural Resources were down 2.89% at 13.11p.

Reporting by Josh White for

Share this article

Related Sharecast Articles

Eli Lilly weight-loss drug 'significantly' reduces sleep apnoea
(Sharecast News) - Eli Lily's weight-loss drug tirzepatide has been shown to "significantly" reduce sleep apnoea severity, the US drugs giant said on Wednesday.
Royal Mail-owner rebuffs takeover approach
(Sharecast News) - Shares in International Distribution Services soared on Wednesday, after it emerged that Czech billionaire Daniel Kretinsky had made a takeover approach for the Royal Mail owner.
Just Eat shares drop as Q1 orders disappoint
(Sharecast News) - Shares in Just Eat dropped sharply on Wednesday after the food delivery marketplace delivered underwhelming order numbers for the first quarter, though revenue growth picked up sharply in the UK and Ireland.
Tekcapital's Innovative Eyewear inks deal with US firm
(Sharecast News) - Intellectual property investor Tekcapital announced a fresh development from its portfolio company Innovative Eyewear on Wednesday, as the latter launched a strategic partnership with Windsor Eyes, a prominent eyewear manufacturing and distribution firm.

Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

Award-winning online share dealing

Search, compare and select from thousands of shares.

Expert insights into investing your money

Our team of experts explore the world of share dealing.