Shares in Conroy Gold and Natural Resources (LSE:CGNR) rose to 13.3p today after the gold firm reported success in the latest round of drilling at its Clontibret gold deposit. The business, which was up 3.9pc at the time of writing, said the ninth and tenth drill holes completed in its current drilling programme at the Ireland-based asset intersected significant gold lodes.
It has now carried out 1,768m of drilling on Clontibret with the aim of upgrading its mineral resource and accelerating the development of the wider Clontibret-Clay Lake-Glenish target. This target contains an exploration target of 8.8MMozs gold and a JORC compliant gold resource of 517,000oz covering roughly 5pc of the area.
The company’s chairman Richard Conroy, said: ‘The further significant intercepts and grades bring to a successful conclusion the 10 drill hole, 1,700 metre programme at Clontibret, as the Company moves forward to demonstrate the potential size of the Clontibret – Clay Lake – Glenish gold target in the northeast of the Company’s 700km2 licence area.’