Conroy Gold and Natural Resources plc has identified a “significant intensely altered zone”, which could lead to a “concealed hydrothermal gold system” and further gold mineralisation at Clontibret in Co. Monaghan, Ireland.
ZONES
The findings are from two holes, part of a 2,000-metre programme, drilled to test the northern strike extension of the central gold lodes associated with the historic Tullybuck antimony mine.
The company has interpreted the altered zone as representing “Buddingtonite alteration”, but has yet to provide confirmation.
“Buddingtonite is widely recognised as a potential pathfinder mineral associated with concealed hydrothermal gold systems and may act as a vector towards additional gold mineralisation at depth,” said Conroy.
Assays from drill hole CGC-25-002 intersected “17 separate gold-bearing zones”.
Results included an interval of 1.0m at 16.7 grammes per tonne gold from 37.1m depth, a “substantial” 3.5m at 4.8 g/t gold from 123.5m, including 0.5 metres at 11.2 g/t gold, and 2.1m at 4.2 g/t gold from 220.1m.
Hole CGC-25-003, drilled some 50 metres to the north at a steeper inclination, intersected “six further gold-bearing zones”, confirming the “lateral continuity of mineralisation along strike”.
Chairman John Sherman added: “These latest drill results continue to demonstrate the significant gold endowment at Clontibret while also highlighting the growing geological potential of the wider system.
“We believe these results provide important new geological insights which may assist in targeting further mineralisation as exploration advances.”
In March the company’s results from drill hole CGC-25-001 showed the “deepest” gold mineralisation intersected to date at Clontibret, with results including 2.8m at 4.5 g/t gold intersected, including 0.5m at 15.0 g/t gold.
Drilling also intersected more than 10 gold lodes which “extended lodes by up to 60 metres to the north”. The gold system remains open to depth.
The five-hole drilling programme continues.