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Dublin: 11°C Tuesday 30 November 2021

Monaghan mine could end up producing €70 million worth of gold per year

A company carrying out exploration work says there could be up to 20 million ounces of the mineral in the geological area known as the ‘Longford-Down Massif’.

Image: gold nuggets via Shutterstock

A DUBLIN-BASED mining company says its “steadily working towards” the establishment of a gold mine in Clontibret, Co Monaghan, but that it will be a number of years before the operation is up and running.

Conroy Gold and Natural Resources, which has been carrying out exploration work in the region, says there may be up to 15 to 20 million ounces of the mineral in the geological area known as the ‘Longford-Down Massif’.

Speaking to TheJournal.ie, company chairman Professor Richard Conroy said there was still a lot of financial, technical and environmental work to be done before the Clontibret mine could be established.

But he said that once it is set-up, the mine could yield “about 50,000 ounces per annum” — around €70 million worth.

Conroy said it was estimated that the mine would have a life-span of around 11 years, but that he hoped this could be extended significantly.

Another potential site has also been targeted at Clay Lake, in Co Armagh “where indications are for high tonnage and overall gold content”.

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Daragh Brophy

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