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Conroy Gold sets exploration target of 5 million ounces at Clay Lake, Clontibret prospects

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Conroy Gold sets exploration target of 5 million ounces at Clay Lake, Clontibret prospects

said March 31 that its independent consulting geologist GarthEarls has established a combined exploration target of 5 million ounces of goldat the company's adjacent Clay Lake and Clontibret gold targets in Ireland.

Theexploration target, however, is conceptual in nature as the combined geochemicalareas requires further drilling, with no certainty that future resourceestimates will achieve the exploration target.

The companyhas already established a JORC-compliant resource of 600,000 ounces of gold on20% of the geochemical target at Clontibret using a minimum mining width of 2meters and a cutoff grade of 0.6 g/t of gold.

On theother hand, structural studies and wide zones of mineralization at the ClayLake target indicated the potential for high tonnage and overall gold content.The Clay Lake geochemical target covers around 200 hectares of surface areawith 3 kilometers in length and 2 kilometers in width.