IRISH zinc and lead exploration company, Connemara Mining — which recorded a widening in its full-year losses in 2007 from €3,137 to €624,398 — yesterday announced its intention to extend its drilling programmes at its main two zinc sites in Limerick and Meath.
Since listing on London’s Alternative Investment Market (AIM) last year, Connemara has produced two significant zinc discoveries in Limerick and at Lough Sheelin on the Meath/Cavan border.
Earlier this week, the John Teeling-chaired company announced the discovery of a second major concentration of high-grade zinc mineralisation at the Stonepark-based section of its Monaster mine in Co Limerick.
The findings follow on from the company’s five-hole scouting drilling programme, undertaken at the end of last year.
“The grades and thickness in this recent hole, and the earlier hole, compare very well with those in the Lisheen and Galmoy zinc mines to the northeast of Stonepark. It is early days, but this second high quality hole increases both the interest and confidence in the licence area,” said Connemara chairman, John Teeling on Wednesday.
“Two zinc discoveries in our first year as a publicly listed company is a major achievement.
“Exploration is a high risk game and many people have spent years unsuccessfully prospecting and drilling without finding anything. In one year, we have had two exciting discoveries with one showing world class grades and the other in an area similar in geology to one of the largest zinc mines ever found.”
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