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Professor Richard Conroy - Chairman
Spurred forward by these results, the Company moved to lock up all the property with prospects along the Longford-Down Massif. The company now holds exploration licences covering approximately 1,500 square kilometres of ground.
The Company is investigating several priority zones along the Massif and the company is intersecting rock yielding high gold grades over potentially mineable widths. The company believes that further work in these regions could yield several multi-million ounce gold deposits.
The Company’s initial delineation drilling has establishes and inferred resource totalling about 500,000 ounces of gold at Tullybuck-Lisglassan, Clontibret. This is encouraging, as drilling has tested just a small part of the larger Clontibret target, with comparable exploration potential.
Conroy Diamonds and Gold offers investors an opportunity to participate in the exploration and development of its newly discovered Irish gold province.
The Company began pursuing gold in the Clontibret area in the mid-1990s, based on historical information on the presence of gold in an old antimony mine in the area. The occurrence of gold with stibnite was first recognised in the 1950s. At an early stage the company recognised the wider gold potential of the entire Longford-Down Massif in north-central Ireland in which Clontibret is located.
The Company’s exploration programmes over the past decade have been producing gold finds along more than fifty kilometres of the 115 kilometre, northeasterly-trending Longford-Down Massif. The company has demonstrated the potential of the structure through a combination of soil geochemistry and geophysics, as well as drilling and trenching to obtain samples. Several resulting gold anomalies now require further evaluation.
found in licence area
Weight: 30.05gm; Gold Content 28gm
Unlike many gold explores, Conroy did not suspend its exploration programmes in the late 1990s, choosing instead to press on with its work on the Longford-Down Massif in anticipation of a new bull market. This put the company’s programme ahead of that of many of its peers.
The price of gold rose above US$600 per ounce last autumn and despite recent falls is still over US$650. The outlook remains buoyant despite a doubling in price over the past five years.
Professor Richard Conroy
Chairman
The Company acquired gold prospects in Finland’s Central Lapland Greenstone Belt last year for €1m, and the purchase price included an extensive exploration database. The company’s first explorations in the area produced anomalies of gold and nickel that warrant further work.
The principal officers of Conroy previously ran Conroy Petroleum and Natural Resources, which later became ARCON International Resources. It discovered and developed a base metal deposit at Galmoy, which is now a major producer of zinc. The company was also part of consortium that discovered the Pogo gold deposit in Alaska, which Teck Cominco Ltd subsequently developed.