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Wednesday, 24th January 2007 (2239 views)

The only remaining regular producer of pure Welsh gold is to close down early this year, prompting fears that Britain's gold mining days are numbered.

But it seems there is still plenty of gold to be found in the British Isles, especially in Ireland, where one exploration company has announced some extremely positive news.

The Gwynfynydd gold mine in Wales may be on the brink of closure, but the output that will be lost could soon be offset by the gold produced by Conroy Diamonds and Gold in Ireland.

And the company has recently unveiled the first resource estimate for its gold exploration programme in the Longford-Down Massif, and the results are promising.

But Conroy Diamonds and Gold is not the only company examining Ireland's golden prospects. Welsh Gold, owners of the Gwynfynydd mine, is also considering a move to the country.

The company's managing director, Roland Phelps, said: "We've switched our attention over to Ireland where Welsh Gold has an important shareholding in another company, Galantas, which is currently developing Ireland's first gold mine in Omagh."

Because of its rarity Welsh gold has long been seen as a premium metal among the rich and famous. But experts believe Irish gold could soon become the new Welsh gold, commanding similar high prices.

 

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