🕐08.09.11 - 08:27 Uhr
CONNEMARA MINING PLC - RNS - EXPLORATION UPDATE
8 September 2011
New Zinc Discovery at Stonepark in Limerick
* New zone of high grade mineralization intersected at Stonepark
West; 1.7km southwest of the Stonepark North zone
* Hole 86 intersects 2.5m at 4.16% zinc and 4.37% lead from
382.5m
* Additional drilling at Stonepark North has extended the
mineralization 250m to the North with hole 78 intersecting 1m @ 5.97%
zinc and 0.24% lead from 339.8m
* Step out drilling has also intersected hydrothermal breccias
extending 2km Southwest of the new Stonepark West discovery
* 25,000 metre drilling program for 2011 is ongoing with four
drill rigs on site
The board of Connemara Mining Company Plc ("Connemara", AIM:CON) is
pleased to present an exploration update on our zinc-lead discovery in
Limerick.
The programme is a joint venture between Connemara (25%) and
Teck Ireland Ltd.
("Teck") (75%).
Hole 86, located 1.7km southwest of the Stonepark North zinc discovery,
intersected high grade zinc and lead mineralisation of 2.5m of 4.16%
zinc and 4.37% lead beginning at a depth of 382.5 metres (see Table 1
for results).
We are calling this new discovery "Stonepark West".
The
mineralisation is hosted in a geological setting similar to that of
Stonepark North.
In addition, hole 64, located 580 metres east of the new discovery,
between Stonepark North and Stonepark West, has intersected 3.1m of
1.92% zinc and 0.56% lead at a depth of 273 metres with further
zinc-lead mineralisation discovered at 288 metres.
Drilling 1.5km to the
west of the new discovery has also intersected hydrothermal breccias
similar to those in Stonepark West.
This drilling was targeted using the
results of the soil geochemistry survey conducted in the area earlier in
the year.
The Stonepark West discovery is significant in that it is likely to be a
totally new zone of zinc-lead to add to that at Stonepark and Stonepark
North.
The similarity in the geology between Stonepark West and the
Stonepark zones suggests that the area between them could contain
additional zinc-lead zones while the mineralisation found 1.5km west of
Stonepark West offers the potential for further extensions.
At Stonepark North, drilling has intersected 1m of 5.97% zinc and 0.24%
lead in hole 78, 250m north of hole 74, which intersected 8.65m
comprising 7.72% zinc and 2.19% lead from 220m.
This mineralization
forms part of the lower zone of zinc-lead and is at the same
stratigraphic level as the mineralization at Stonepark some 1.7km away.
Table 1: Stonepark Drilling Highlights
Hole ID
>From (m)
To (m)
Thickness1 (m)
zinc (%)
lead (%)
TC-2638-086
382.5
385
2.5
4.16
4.37
Including:
383.9
385
1.1
6.13
4.63
TC-2638-078
339.8
340.8
1
5.97
0.24
TC-2638-0742
220.00
228.65
8.65
7.72
2.19
Including:
TC-2638-0742
224.45
227.3
2.85
17.41
3.98
TC-2638-0642
273.00
276.10
3.10
1.92
0.56
TC-2638-0642
288.00
290.00
2.00
1.09
0.01
TC-2638-0712
260.30
262.00
1.70
3.01
0.09
1All drill holes are vertical (-90 degrees).
2Reported 25th May 2011.
John Teeling, Chairman, commented:
"These are very positive and significant results.
The discovery at
Stonepark West appears to be a new zone, typical of Irish zinc
orebodies.
That in itself is significant, but the results in other holes
to the east (hole 64), between Stonepark North and Stonepark West, and
1.5km to the west also contain mineralisation.
There is now evidence to
indicate that more zones of zinc-lead will be discovered in what is
becoming a large area of zinc-lead mineralisation.
Step out drilling
continues.
Meanwhile, at the earlier discovery in Stonepark North, drilling 250m to
the north of the recently announced (May 25th) high grade discovery of
over 9.90% combined zinc and lead over 8.65 metres found 6.2% combined
zinc-lead at 339.8 metres.
This is very significant as this discovery is
at the same depth as the earlier Stonepark discoveries some 1.7km away
from Stonepark North.
This also strengthens the possibility of the
Stonepark discovery stretching to Stonepark North at a greater depth and
could result in there being two zones in the Stonepark North area.
The potential of the Monaster block of licences is growing.
Every drill
hole is extending the area of mineralisation.
This is a very big system
with potential open in most directions.
We continue to use four rigs and
will have drilled 25,000 metres by year end."
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 & 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
Westhouse Securities Limited
Richard Baty
+44 (0)20 7601 6100
Tim Feather
College Hill
Nick Elwes
+44 (0) 207 457 2020
www.connemaramining.com
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