🕐14.03.11 - 08:27 Uhr
Stonepark Update
14th March 2011
Stonepark Update
* Step out drilling has intersected hydro thermal breccias and
low-grade Zinc-Lead mineralisation up to 2km southwest of the Stonepark
North Zone
* 25,000 metres drilling program for 2011 is ongoing
* Six drill rigs now on site
* Airborne gravity survey completed.
Seismic survey planned in
Q2
The board of Connemara Mining Company plc (AIM:CON) is pleased to
present an update on drilling in the Limerick Region.
The programme is
a joint venture between Connemara (25%) and Teck Ireland Ltd.
("Teck")
(75%).
Drilling is ongoing on the Stonepark project with six rigs now on site.
Approximately 25 km of diamond drilling is planned for 2011.
Results
from the first few holes of 2011 are encouraging and have significantly
increased the known size of the Stonepark hydrothermal system.
Drill
hole TC-2638-064, located 1km southwest of the Stonepark North zone,
intersected low-grade zinc-lead mineralisation (assays pending) hosted
in well-developed hydrothermal black matrix breccia.
Drill holes
TC-2638-065, 067 and 070, located 1km west, 1km southwest and 2km
southwest respectively of the Stonepark North discovery hole
(TC-2638-026), also intersected trace mineralisation in well-developed
black matrix breccia.
An airborne gravity survey over the Monaster licence block was carried
out by Bell Geospace in late January-early February.
Data from the
survey is currently being processed with results expected in early
March.
This survey will be used to guide step-out drilling in the coming
months.
Tesla-IMC International limited has been contracted to complete a 25
line kilometers 2D seismic survey on the Monaster block.
The survey is
scheduled to begin in early April and will identify ore-controlling
faults within the Stonepark-Stonepark North area.
On the adjacent
Pallas Green project, Minco-Xstrata have recently announced a similar
seismic program.
The aim of the survey is to find ore-controlling
faults that may host thicker mineralisation.
A soil geochemical survey is also underway on the Monaster licence
block.
An orientation survey carried out last year showed that soil
geochemistry could effectively detect the known mineralisation at
Stonepark North.
Soil geochemistry results, combined with data from
airborne gravity and seismic surveys, will be used in combination to
guide drilling along a prospective trend southwest of Stonepark.
John Teeling, Chairman, commented:
"The 2011 exploration programme on Stonepark is now in full swing.
Six
rigs are drilling what will be a total of 25 kilometres.
The recent
airborne gravity survey will guide future drilling while the imminent
seismic survey will help in the search for thicker mineralisation.
Results from wide spaced holes up to 2km away from Stonepark are very
positive, discovering well developed black matrix breccias, - the
target horizon containing low grade zinc mineralisation."
This announcement has been reviewed and approved by the Companys
technical director Graham Reid (P.Geo) in his capacity as the Qualified
Person for the purposes of the AIM Guidance Note for Mining, Oil and Gas
Companies issued by the London Stock Exchange.
Mr Reid is a Member of
The Institute of Geologists of Ireland (IGI) and The Society of
Exploration Geophysicists (SEG) and has over 30 years experience in
mineral and site investigation fields.
Enquiries:
Connemara Mining Company Plc
John Teeling, Chairman
+353 (0)1 833 2833
Jim Finn, Financial Director
Smith & Williamson Corporate Finance
Nick Reeve
+44 (0) 117 3762213
Barrie Newton
+44 (0) 117 3762213
Optiva Securities Ltd
Jason Robertson
+44 (0) 203 137 1906
Jeremy King
+44 (0) 203 137 1904
College Hill
Nick Elwes
+44 (0) 207 457 2020
www.connemaramining.com
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