Connemara share price reaches 12-month high

Connemara Mining, the Irish AIM listed zinc explorer, have announced a 12-month high of 24.5p per share in its interim results for the six month period to June 30, 2009.

Connemara Mining, the Irish AIM listed zinc explorer, have announced a 12-month high of 24.5p per share in its interim results for the six month period to June 30, 2009.

The company said positive drill results in September 2009 drove its share price upwards.

The John Teeling-led company has announced plans to expand its drilling programme following excellent results on the first drill hole of the latest drilling campaign in Limerick.

The first drill hole of the current programme produced grades of 13.07% zinc and 2.23% lead over 22 feet from a drillhole 1.5 kilometres Northwest of the 2007 discovery at Stonepark and 280 metres Southeast of the 2008 discovery at Stonepark North.

John Teeling, Chairman of Connemara Mining, said: "A further 5,000 plus metres of drilling, in possibly 15 holes, will be undertaken in the region in the remaining months of 2009.

"Although expenditure will rise as we contribute to the drilling cost, we have sufficient funds to meet our immediate needs. The target for Connemara and our partner, Teck, is to develop a world class world ranking zinc mine in Limerick."

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