AN IRISH COMPANY has found gold targets in Co Cavan.
Conroy Gold and Natural Resources plc has announced that it has extended its gold interests in the Cavan/Monaghan area with the discovery of a series of further large gold-in-soil targets within the Slieve Glah area of Co Cavan.
It said it discovered two new targets over 3km in length each, while results from soil samples extending the surface area of the company’s two previously identified gold targets at Slieve Glah by over 1km.
In one of the newly discovered targets, one particularly interesting area measuring 1,000 metres by 500 metres has been identified, said the company. Gold values of up to 300 ppb (parts per billion) Au were recorded, said Conroy Gold, noting that in Ireland, gold values over 100ppb Au are considered “highly anomalous”.
Significant
Company chairman Professor Richard Conroy described the results as “very exciting” and “significant”
They add, not only to the prospectivity of the very large targets at Slieve Glah but to the entire 30 mile gold trend that the company has discovered all lying within the company’s licence area.
He said that it gives the company “great encouragement after doing several years’ exploration” in areas such as Clontibret. Conroy said that the company has “already done a lot of work” and this will now be followed up by some geochemistry work, but that the “ultimate test” is trenching the area to see what sort of gold is there.
“Gold is increasingly required for the financial situation,” he said. “It’s already used to a very large extent. Its main value is as a bullion, as a reserve currency.”
Conroy told TheJournal.ie that there is one gold mine in Ireland, located in Northern Ireland, and the gold is used for jewellery. He added: “People used to think that Ireland hadn’t got any natural resources and even today people today don’t fully realise that we have a significant mining industry which contributes substantially to the economy”.
He added that Conroy Gold “may or may not” bring in a partner to work on the project with them.
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