Conroy’s zinc find may prove to be significant

CONROY Diamonds & Gold, the Irish precious metals exploration company, has made what could be a significant zinc discovery near the border.

It is the first such find for the company, which is in the midst of attempting to develop Ireland’s largest commercial gold producing mine at Clontibret in Co Monaghan.

The company said yesterday that ongoing development work on its operations around Monaghan and Armagh have located “extensive zinc-in-soil anomalies”.

Speaking on the newdeparture for the company, founder and chairman, Professor Richard Conroy said that while the new find was exciting, and that further exploration work is now planned, gold remains the firm’s primary focus.

“Our primary focus remains the delineation and development of our gold discoveries in the Longford-Down Massif. However, we cannot ignore the possibility that we have made a significant zinc discovery, with initial sample values significantly above the typical background values.

“If confirmed, this would be a welcome addition to the well-established gold potential on the company’s licence areas.”

Prof Conroy has previously said its combined gold operations around the border counties could contain up to 20 million ounces of gold.

Its Clontibret asset alone is estimated to be set for a capacity of more than one million ounces.

Mr Conroy reiterated yesterday that the AIM-listed company would be open to entering into a joint venture with one of the big international gold developers to boost work on the Co Monaghan mine, with a view to commercialisation in the next two years, but stressed it wasn’t reliant on that happening.

He added that, in terms of the new zinc find, no date had been set for intensive drilling work to gauge full capacity, but it is hoped full exploration work will commence later this year.