JOHANNESBURG (miningweekly.com) – Exploration company Conroy Gold and Natural Resources is putting in place a drilling programme to accelerate development on its Irish gold property, following a £1-million strategic investment in December.
Conroy reported on Monday that the drilling programme would start shortly and that it would focus on increasing the known Joint Ore Reserve Committee resource of 517 000 oz of gold at Clontibret and to convert the inferred resources into the indicated category to calculate reserves.
The drill programme is also planned to expand the overall gold resource on the company’s licence area on which the combined Clay Lake/Clontibret area alone has the potential to host a significant number of contained ounces.
“I am very pleased to report that following the strategic financing in December that we now have the funds in place to accelerate the work necessary to enable us to develop a mine at our Clontibret/Clay Lake target.
“Based on the work already done we believe we have the opportunity on our licence area in Ireland to develop a world-class mining project. The focus will be on Clontibret initially as we look to bring in the first gold mine on our property into production at the earliest opportunity," commented chairperson Richard Conroy.