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Connemara Mining says gold occurrences found on two licences

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Ireland-focused Connemara Mining (LON:CON) revealed that gold has been found on two of its licences.

The previously unknown occurrences were found following a soil sampling programme, it said.

The firm has five prospective licences in the Wicklow/Wexford area and Canadian explorer Hendrick Resources, which carried out the work, is spending €1 million to earn a 75% interest in the licences.

The sampling was targeted in areas after re-modelling of the local geology using high quality airborne geophysical data acquired by Hendrick in the spring of this year.

In total, 800 samples were collected resulting in the discovery of zones with significant gold enrichment.

"These are located in previously untested areas and close to known occurrences - notably Tombreen  and Knocknalour. These results appear to extend the Tombreen  and Knocknalour occurrences," the company said.

Chairman John Teeling said: "The second phase of exploration by Hendrick Resources continues to yield positive results.

"I am very pleased with the discovery of previously unknown gold occurrences on two of the Connemara licences. Follow up close spaced soil sampling will be conducted early in 2013 to refine drill targets. The full programme is being carried by Hendrick at no cash cost to Connemara."

 

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