The Thurles block of three licences lie about five kilometres south of the Lisheen Zinc mine. The company, which has been focusing on its assets in Meath and Cavan, will be drilling to a target depth of 350 metres in Co Tipperary.
Earlier this month, Connemara carried out a hi-tech airborne search for gold deposits across five of its licence areas in counties Wicklow and Wexford.
Connemara signed a joint-venture agreement with Canadian exploration company Hendrick Resources back in February to explore prospective gold licences — already held by the Irish firm — in the vicinity.
It was announced, at the same time, that Hendrick would spend €500,000 for a 50% stake in the licences, with the option to spend a further €500,000 to increase that stake to 75%.
The results of the airborne survey were being processed by Canadian firm Terraquest, with initial results expected sometime around the end of June. The Wicklow/Wexford area hasn’t been surveyed for gold for over three decades.
Connemara’s diversified interests cover lead, zinc and gold and the company holds interests in 34 licences around Ireland, covering a combined area of approximately 1,250 square kilometres.