Conroy Diamonds and Gold PLC (AIM: CDG) said follow-up rock chip sampling has confirmed the presence of gold values in bedrock at its new Clay Lake target in County Armagh in Ireland where the company has previously identified an extensive gold-in-soil anomaly.
The four samples were collected along a 100 metre section of a stream bed in the north-west part of the target, and all four samples contain gold. The highest value was 1.31 grams per tonne of gold, and the other three samples returned gold values of 0.28 g/t , 0.12 g/t and 0.05 g/t.
The Clay Lake target find is located some 7 kilometres north-east of Conroy’s Clontibret gold discovery in County Monaghan where a JORC-compliant resource of over one million ounces of gold has thus far been identified on only 20 percent of the target anomaly.
The gold-in-soil anomaly at Clay Lake, which measures approximately 2 by 1 kilometres, is larger than that at Clontibret and includes the highest gold-in-soil values ever recorded by the company - up to 1.53g/t gold-in-soil.
In addition, the average gold-in-soil values are twice the average of those recorded at Clontibret.
Chairman Richard Conroy said: “These results enhance the significance of the Clay Lake area and increase its standing as a discovery ranking alongside our Clontibret property.
"Looking at the broader Clay Lake-Clontibret picture shareholders will have noted the Company's recent discovery of a series of extensive zinc-in-soil anomalies in the vicinity of the two gold finds. Overall, this confirms and enhances our long-held belief of the huge potential of this area," he added.
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