Connemara might seek partner for gold prospect

Connemara might seek partner for gold prospect

By Geoff Percival

Connemara Mining will consider raising more money or bringing in a development partner for its 100%-owned Mine River gold project that straddles counties Wicklow and Wexford, later this year, depending on drilling results.

The John Teeling-chaired prospector has re-commenced drilling at the project, one of two live Irish gold prospects it holds and is prioritising two targets, at Tombreen and Knocknalour, over a ten drill-hole campaign.

“We had very encouraging results at the Tombreen prospect and are looking to build on that,” said Connemara’s chief executive Patrick Cullen.

“Tombreen and Knocknalour lie along the significant 15km target trend we have identified at Mine River. With this drilling, we want to confirm high-grade gold mineralisation while expanding strike-length. We look forward to the results,” he said.

Mr Cullen said the current drilling work is primarily aimed at advancing Mine River, but he added that depending on the strength of the results Connemara would consider raising fresh finance or selling a stake in the asset in order to further develop it, later this year.

Earlier this week, Connemara said it was aware of “significant interest” in Ireland amongst international mineral companies, particularly those interested in gold prospects.

Connemara said it is “proactively” reviewing a range of additional opportunities and is well-placed to attract major interest in its own portfolio. It has 41 zinc and gold licences in Ireland.

Connemara Mining will consider raising more money or bringing in a development partner for its 100%-owned Mine River gold project that straddles counties Wicklow and Wexford, later this year, depending on drilling results.

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