News

September 08, 2009

Connemara’s Latest Drill Results Open Up A Welter Of Possibilities For The Development Of A New Zinc Project In Limerick

By Alastair Ford

John Teeling’s in a lively mood when he gets onto the phone to Minesite for a chat about the latest drill results from his zinc company Connemara Mining. In part, that’s because he’s phoning from his very own whiskey distillery, where he’s just concluded a successful meeting of shareholders, all cheered by the fact that the distillery has doubled its profits. Still, those that know John will know that diet coke’s his tipple of choice, so in no sense is it the whiskey talking when he begins to talk of Connemara’s latest drill results on its Stonepark licence in Limerick creating “geological excitement”. Actually, the drill results in question have created excitement all round, both in geological circles and on financial markets, where Connemara’s shares rose by over 60 per cent to 24.5p in the two days of trading following the announcement.

And no wonder. At 7.2 metres at 13.07% zinc and 2.23% lead, within which a higher grade 3.75 metre intersection registers 17.06% lead and 3.5% lead, this first result of the current drill programme will almost certainly be a game changer. More drilling needs to be done to determine exactly how the mineralization at Stonepark stacks up, but John, who’s no stranger to the world of zinc exploration in Ireland, has already got a clear idea of how things will develop from here. He was one of the...