Mining company reports positive results in gold search

A company looking for gold in the North says ground geophysics results from a test site there are continuing to yield positive results.

Conroy Gold and Natural Resources PLC has been working at its Clay Lake gold target in Co Armagh.

The site is located 7km from Conroy's Clontibret gold discovery in Co Monaghan, where the company is proposing to develop its first gold mine.

The Clay Lake gold target is larger than the Clontibret gold target and has gold-in-soil values twice as high. Deposits from similar sites have been very large.

Drill intersections of 63 meters at 0.62g/t gold and 1g/t silver and 50.75 meters at 0.61g/t gold have been intersected suggesting potential for high tonnage and overall gold content.

Commenting today, chairman Professor Richard Conroy said: "These results and in particular the depiction of an anticlinal folding sequence of the gold bearing black Carbonaceous stockwork zone are a further indication of the gold potential and size of the Clay Lake gold target and provide crucial data for follow-up drilling."