Thursday, 27th November 2008 (268 views)

Conroy Diamonds & Gold has announced that it has found more areas of gold mineralisation at its project in County Monaghan.

The mining company, which has gold exploration operations in Ireland, has reported a one million ounce gold resource at Clontibret and now plans to take samples from the drill core either side of the zones.

Conroy discovered a total of four new gold lode zones at the site and has described them as "a bonus for the company" because the new structures extend beyond the original target area.

The firm's shares leapt by 113p (60 per cent) to 300p each after the news was announced that new gold lode zones had been found while drilling was underway on a deep hole.

Richard Conroy, company chairman, commented: "This is a further indication that the one million ounce resource may grow as we advance our exploration programme."

Based in Dublin, Conroy is listed on the AIM exchange and its exploration programme is currently focused on the Longford-Down Massif, which includes Clontibret in County Monaghan, with further licences held in Finland's Central Lapland Greenstone Belt.

 

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