DUBLIN - Conroy Gold and Natural Resources plc (AIM: CGNR), an exploration and development company focused on gold and base metals, has reported its audited accounts for the year ending May 31, 2024. The company, which operates the Discs of Gold Project across Ireland and Northern Ireland, highlighted significant progress in its exploration efforts.
The project, formerly known as the Longford – Down Massif, features two parallel district-scale gold trends, the Orlock Bridge and Skullmartin, spanning over 90 km and centered around the Clontibret gold deposit. Conroy Gold has secured over 1,000 km² of land holdings, fully owned, across these trends and has identified eight exploration targets.
Particularly noteworthy is the Clontibret to Clay Lake prospect within the Orlock Bridge trend, a 7 km zone that has shown promising mineralization. Recent drilling results have revealed broad zones of mineralization with intersections of 95m at 1.0g/t gold at Clontibret and 100m at 0.6g/t gold at Clay Lake.
The company has initiated a re-logging program covering more than 30,000 meters of drill core to refine its data and guide future investment decisions. This effort is part of Conroy Gold’s strategy to further understand the project's potential and to inform its next investment cycle.
In a strategic move, Conroy Gold entered a binding agreement in April 2024 with Demir Export A.Ş., resulting in the latter's exit from the Joint Venture Framework Agreement in exchange for a net smelter royalty. Demir Export had invested a total of €5,657,671 in the venture.
The announcement comes during a period of mourning for the company following the passing of its founder, Professor Richard Conroy. Chairman John Sherman expressed his commitment to realizing Conroy's vision of establishing an operational gold mine in Ireland.
The company's full annual report and accounts for the year to May 31, 2024, will be made available to shareholders and on the Conroy Gold website. Additionally, the company announced its Annual General Meeting to be held on December 18, 2024, at The Conrad Dublin Hotel.
This news is based on a press release statement from Conroy Gold and Natural Resources plc.
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