Gold prices slip lower; consolidating after recent gains
DUBLIN - Conroy Gold and Natural Resources PLC (AIM: CGNR) has reported new findings from its initial analysis at the Clontibret gold deposit, revealing additional potential for gold and antimony mineralization. The company’s re-logging program, which aims to construct a robust 3D geological model, has identified a plunge trend suggesting untested high-grade gold at depth and a second trend in antimony mineralization.
Chairman John Sherman expressed optimism about the significance of these discoveries in targeting further mineralization. The pXRF analysis of drill cores has highlighted a Northeast-Southwest trend in antimony mineralization, parallel to the stockwork gold mineralization, and has revealed antimony presence in areas previously not explored in detail.
The ongoing construction of the 3D model and pXRF analysis is part of the company’s efforts to attract strategic and financial partners for the next major investment cycle in the "Discs of Gold" project. This work also supports Conroy Gold’s application to the European Union for recognition of Clontibret as a strategic project under the European Critical Raw Materials Act of 2024.
The "Discs of Gold" project, entirely licensed to Conroy Gold, spans approximately 90km and is anchored by the Clontibret gold deposit, with a currently defined resource of 517Koz gold at 2.0 g/t Au. The deposit remains open in multiple directions, and the company has identified seven additional gold targets within its license area, with Clay Lake and Creenkill being of particular interest.
The mineralization styles in the license area, including free gold, refractory gold in arsenopyrite, and gold associated with pyrite and antimony, suggest the influence of multiple hydrothermal events. The geological parallels with large gold deposits in Southeastern Australia and Atlantic Canada bolster the project’s prospects.
This update is based on a press release statement by Conroy Gold and does not endorse the company’s claims. The findings present a step forward in understanding the mineral potential of the Clontibret deposit and may shape future exploration efforts.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.