RNS Number : 5206F
Connemara Mining Company plc
28 July 2016
Connemara Mining Company plc ("Connemara")
Highlights of the Chairman's Statement to the AGM of
Connemara Mining Plc held In Dublin at 10am July 28th 2016
Ø The gold price at €1,300 plus an ounce and a zinc price of $2,200
plus a tonne have recovered significantly and offer profitable exploration opportunities.
Ø Connemara holds 32 gold and zinc licences in Ireland and has
expressed interest in additional ground.
Ø The focus of activity is the Inishowen area where a gold drilling
programme has recently concluded. Results of two holes were reported this week identifying a potential new gold
system.
Ø Results for the remaining two holes will be available within
weeks. It is very early days in the exploration campaign so caution is advised.
Ø Our second gold focus is the Hendricks joint venture on 5 licences
in the Wicklow/Wexford area. We are hopeful that funds are forthcoming to drill two areas, Knocknaloor and Tombreen, where
earlier drilling discovered high gold grades.
Ø The rising zinc price should encourage exploration on our two zinc
joint ventures, Oldcastle in Meath and Stonepark in Limerick both operated by Teck Resources, a Canadian based mining
multinational. The Irish subsidiary of Teck does not have a drilling budget for our ground though they are maintaining the
licences in good standing.
Ø We have surrendered three zinc licences in the Tipperary area
while expressing an interest in new ground.
All resolutions were duly passed at the meeting.
This announcement contains inside information for the purposes of Article 7 of Regulation
596/2014.
Enquiries:
Connemara Mining Company Plc
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John Teeling, Chairman
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+353 1 833 2833
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Jim Finn, Director
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Northland Capital Partners Limited
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William Vandyk/Gerry Beaney
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+44 (0) 20 3861 6625
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John Howes
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Dowgate Capital Stockbrokers Limited
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Jason Robertson
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+44 (0) 1293 517744
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Blytheweigh
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+44 (0) 20 7138 3204
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Tim Blythe
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+44 (0) 7816 924 626
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Camilla Horsfall
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+44 (0) 7817 841 793
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Nick Elwes
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+44 (0) 7831 851 855
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Rachael Brooks
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PSG Plus
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Colm Heatley
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+353 1 661 4055
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Alan Tyrrell
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+353 1 661
4055
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www.connemaramining.com
This information is provided by RNS
The company news service from the London Stock Exchange
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