RSS UpdatesCompany Information for Conroy Diamonds and Gold Plc
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 AIM; CDG
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Company Statement
The primary objective of the Company is to discover and bring into production one or more gold deposits in Ireland and Finland.
The Company's exploration programme in Ireland is focussed on the Longford-Down Massif. The Company at an early stage recognised the significant gold potential of the Massif. It is engaged in active exploration there which has already led to the discovery of a series of gold targets along a 30 mile (50km) strike length stretching from County Armagh across to Counties Monaghan and Cavan.
At the most advanced of these targets, Clontibret in County Monaghan, a mineral resource of over 1 million ounces of gold (Indicated 440,000 ounces, Inferred 590,000 ounces) has been estimated for an area representing less than 20 per cent of the target. Drilling has commenced in the remaining 80 per cent of the Clontibret target anomaly, which is expected to further increase this resource. This is the largest gold resource reported to date in Ireland or the UK.
The Company has also acquired licences in Finland's Central Lapland Greenstone Belt, which it believes to be highly prospective for gold and has an ongoing exploration programme there.
The principal officers of Conroy Diamonds and Gold previously founded and managed Conroy Petroleum and Natural Resources. This Company discovered and developed significant base metal ore bodies at Galmoy in Ireland, now in production as a major zinc mine, and was also part of the consortium which discovered the large Pogo gold deposit in Alaska.
The Company is pleased to have acheived its initial target of over 1 million ounces of gold, in an area amounting to only 20 per cent of one of a series of gold targets which it has identified in the Longford-Down Massif. Conroy Diamonds and Gold believes that its exploration programmes in Ireland and Finland will lead to the discovery and development of economic gold deposits.
Current Operations
Ireland
The Company's gold exploration programme in Ireland is focussed on a geological structure known as the Longford-Down Massif.
The Longford-Down Massif
The Company’s gold licence area lies in a geological region referred to as the Longford–Down Massif.
The Massif represents the north-west sedimentary arc of the Caledonian Iapetus Ocean, with the Ordovician/Silurian rocks of the Leinster zone representing the south-east arc of the Iapetus. The two zones are separated by the Orlock Bridge Fault, which is believed to be the suture marking the line of closure of the Iapetus.
Thus the Longford-Down Massif is the accretionary prism (obducted sediments) of continental slope, trench and ocean floor sediments generated by NNW subduction. The north-west volcanic arc is represented by lower Ordovician volcanics stretching from Mayo to Tyrone (Tyrone Igneous Complex).
Main Targets
Exploration work by Conroy within the north-easterly trending Longford-Down Massif has resulted in the discovery of three major gold target areas as shown from NE to SW on the map below:
1. The Armagh-Monaghan Gold Targets:
These include:
- The Clontibret Target:
comprising Tullybuck-Lisglassan, Ballygreany, Corcaskea and Fintully prospects - Clay Lake Target:
comprising Tivnacree and Cargallisgorran prospects - Glenish Target
There are also two smaller prospects within this region being investigated - Rackwallace and 'Braddocks and Downs'.
2. Central Structural Zone Gold Targets:
3. Slieve Glah Gold Target.
Slieve Glah Gold Targets
The presence of a kink in the Orlock Bridge Fault at Slieve Glah raises the possibility of a dilational shear zone which is of exploration interest due to open fracture systems. Reconnaissance soil geochemistry surveys show that a series of gold-in-soil anomalies are associated with this feature. Infill sampling in this area has now revealed an extensive gold anomaly approximately 1700 metres in length. Work is continuing to evaluate the potential of this area.
Finland
Conroy Diamonds and Gold Plc (“Conroy”) is active in the Sodankyla area of Lapin Lääni province (Lapland) and has identified the area as highly prospective.
Finland is a mining-friendly country within the European Union offering the exploration industry a favourable operating and investment climate, with significant potential for new discoveries. The province of Lapin Lääni (Lapland) covers an area of 98,946 km². There are 21 municipalities in this region and the largest city is Rovaniemi. The majority of this region is above the Arctic Circle and is sparsely populated with 186,917 inhabitants (2003) but with excellent infrastructure.
Sodankyla - Proven Gold Potential:
Till sampling values in current licence areas up to 117ppb Gold. Drilling by Conroy has proven the presence of a sulphide-rich hydrothermal system.
Active Mining in the Region:
Conroy's interests lie on the same NW-SE trend and in similar terrain to the major Pahtavaara Gold deposit and Agnico-Eagle's 3 million oz Kittila mine at the Suurikuusikko deposit to the North-West.
Geographical Spread
Longford-Down Massif in Ireland.
Central Lapland Greenstone Belt in Finland.
Board of Directors and Key Management
| Professor Richard Conroy | (Chairman) |
| Maureen T A Jones | (Managing Director) |
| James P Jones FCA | (Finance Director) |
| Louis J Maguire | (Non-Executive) |
| Seamus P FitzPatrick | (Non-Executive) |
| Michael E Power | (Non-Executive) |
| Henry H Rennison | (Non-Executive) |
| C. David Wathen | (Non-Executive) |
Company Address10 Upper Pembroke Street
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Additional Address/Key Contact |
CapitalShares (Issued & Outstanding): 135,721,630 |
Annual General MeetingDecember | Year End31 May |
Nominated BrokersCity Capital Corporation Limited | Nominated AdvisorsJohn East & Partners Limited |
Major Shareholders
| Professor Richard Conroy | 21,083,353 | (15.53%) |
| Conroy P.l.c. | 19,294,286 | (14.22%) |
| Bruce Rowan | 10,450,000 | (7.70%) |
| Patrick O’Sullivan | 10,000,000 | (7.37%) |
| Gartmore Fund Managers Ltd | 9,885,000 | (7.28%) |
Related News
10/03/10 - Conroy Moves To A Scoping Study At Clontibret, As The Nearby Clay Lake Target Starts To Show Real Promise25/11/09 - Conroy Hopes To Be Producing Gold From The Million Ounce Clontibret Deposit Within Three Years
01/07/09 - Conroy Adds Zinc And More Gold To The Assembly Of Minerals Present On Its Extensive Irish Exploration Licences
06/03/09 - Conroy Diamonds And Gold Could Be Sitting On 20 Million Ounces Of Gold On The Longford-Down Massif In Ireland
22/07/08 - Conroy Hits A Million Ounces And Has Still Barely Scratched The Surface
28/01/08 - Slow and Steady Wins the Race for Conroy Diamonds and Gold
Most Recent Statement
26/02/10 - Half-yearly Report27/01/10 - WARDROP ENGINEERING INC APPOINTED TO CARRY OUT SCOPING
19/01/10 - Results from drill holes at Clay Lakes
07/12/09 - IEX Notice
07/12/09 - Result of AGM
24/11/09 - 18 metre Wide Zone of Gold Mineralisation identified