Gold found after recent drilling operation in Cavan
Good land in Cavan.
Conroy Gold and Natural Resources have identified two new gold zones at two separate drill holes in Slieve Glah, Cavan.
Two holes, totalling 308 metres, were drilled in Slieve Glah Target Area 1.
After further inspection, workers discovered a new 11 metre zone of gold mineralisation. Both drill holes intersect gold.
The new gold zone is located over 1.5km from the gold mineralised zone in Slieve Glah Target Area 2 and over 5.5km from the gold mineralisation in Slieve Glah Target Area 4.
The first drill hole found low grade gold mineralisation in bedrock of 1.0 metre at 0.5 grams per tonne from a 95.0m down hole.
The second intersected 4.0 metres of 0.1 grams per tonne from a 124.0m down hole.
Speaking about this new discovery, Professor Richard Conroy, has said: “This new discovery, at a time when the gold price is touching US$1500, is a wonderful result for an early drill hole in this target area and confirms the encouraging results that were observed in the gold-in-soil and deep-overburden sampling and drilling elsewhere on the Slieve Glah Target and the overall potential of the Longford-Down Massif.
"At the north eastern end of its extensive licence area the Company has an established JORC (Joint Ore Reserves Committee) resource of over 0.5M ounces gold and an estimated exploration target of a further 8.8M ounces gold.”
The firm believe that the discovery of gold in the bedrock together with extensive sulphide mineralisation proves the presence of the mineralising system.
This discovery has been corroborated by Kevin McNulty PGeo, who is a member of the company's technical staff and holds a BSc/MSc in Geology and Remote Sensing.
Conroy Gold and Natural Resources operate primarily in Ireland and Finland.
More information about the discovery can be found here.