Conroy hails new find
Article Date: Nov 25 2008Irish mineral minnow Conroy Diamonds and Gold says it has made an unexpected discovery at its Clontibret gold project.
The Dublin-based company, which announced a one million oz estimated resource at Clontibret in July, reports that it has now intersected four ‘previously unknown gold lode zones’ during the drilling of a deep hole at the project. Spot samples have shown modest grades of more than one gramme of gold per tonne of ore, ranging up to 2.98 grammes a tonne, over one-metre intervals.
AIM-quoted Conroy points out that the previously announced million oz resource covers only 20 per cent of the project area. Chairman Professor Richard Conroy argues, ‘This is a further indication that the one million oz resource may grow as we advance our exploration programme.’
Floated at 25p eight years ago, Conroy shares suffered badly from a perceived slowness in translating promising finds into concrete projects. They now trade at 2.75p, up 0.88p, this morning, valuing the company at £2.8 million.
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