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Oldcastle Drilling

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RNS Number : 2999O
Connemara Mining Company plc
04 November 2016
 

 

4th November 2016

 

Connemara Mining Company plc ("Connemara")

Oldcastle Drilling

 

Connemara (AIM: CON) is pleased to announce that a drill rig has arrived on site to commence further testing of the Springhall target within the Oldcastle Block located on the Meath/Cavan border in Ireland. The tenure is prospective for zinc/lead. Our Joint Venture partner, Teck Ireland Ltd ("Teck"), has outlined structural, alteration and mineralization evidence which contribute to upgrading this target. The new drill hole, TC-1991-003, is targeted over 1km to the southwest of holes TC-1991-002 & TC-3926-002, which were drilled earlier this year and intersected altered and mineralized zones within the Upper Sandstone Unit. The Upper Sandstone Unit is an important host to the SWEX zone at Tara Mine in Navan, 20km to the SE.

 

The Oldcastle block of five licences is being explored by Teck in an option agreement with Connemara, under the Oldcastle Zinc Ltd vehicle. Teck has earned into a 51 per cent interest in the block by spending €550,000 and is increasing that towards 75 per cent by spending a further €800,000.

 

 

 

 

 

Connemara is an active exploration company with principal assets in gold, zinc and lead exploration licences in Ireland.  The company holds interests in 34 licenses covering an area of approximately 1, 290 sq km.

 

This announcement has been reviewed and approved by Graham Reid (P.Geo) in his capacity as the Qualified Person for the purposes of the AIM Guidance Note for Mining, Oil and Gas Companies issued by the London Stock Exchange.  Mr Reid is a Professional Member of The Institute of Geologists of Ireland (IGI) and The Society of Exploration Geophysicists (SEG) and has over 30 years' experience in mineral exploration and site investigation fields.

 

 

This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.


 

Enquiries:

 

Connemara Mining Company Plc


John Teeling, Chairman

+353 1 833 2833

Jim Finn, Director


Northland Capital Partners Limited


William Vandyk/Gerry Beaney

+44 (0) 20 3861 6625

John Howes


Dowgate Capital Stockbrokers Limited


Jason Robertson

+44 (0) 1293 517744

Blytheweigh

+44 (0) 20 7138 3204

Tim Blythe

+44 (0) 7816 924 626

Camilla Horsfall

+44 (0) 7817 841 793

Nick Elwes

+44 (0) 7831 851 855

Rachael Brooks


PSG Plus


Colm Heatley

+353 1 661 4055

Alan Tyrrell

+353 1 661 4055

 

www.connemaramining.com

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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