Dublin firm heralds ‘transformational’ new gold discovery in south Armagh which could become a Tier 1 area

Dublin-based gold exploration and development company has made a ‘transformational’ new discovery in south Armagh.

Conroy Gold and Natural Resources confirmed in a stock market statement that it has discovered a new area of gold mineralisation while prospecting at its Mines Royal licensed area close to Newtownhamilton and near the company’s Clay Lake gold discovery.

Focusing on Ireland and Finland, the firm said ‘visible (native) gold’ was observed at two locations within the new discovery area.

Five quartz breccia samples, found on or close to the surface, returned the highest gold assay results up to 123.0 g/t gold since Conroy began exploration in the Longford-Down Massif area.

The exploration programme is being carried out in conjunction with the Company’s joint venture partner, Demir Export A.Ş. T

A trenching and drilling programme is planned to follow up on the discovery and to enable the firm to better assess and understand the mineralisation in the area.

Professor Richard Conroy, chairman, said: “This new discovery is potentially a transformational event for gold exploration and development in this very large gold district. The presence of visible gold and the outstanding gold grades of up to 123g/t gold (4oz/t gold) in these initial samples are exceptional and, taken in conjunction with the company’s other significant discoveries, indicate the potential for the district to become a Tier 1 gold area.“