6 September 2016
Connemara Mining Company plc ('Connemara')
New Prospecting Licences in Cork
The directors of Connemara Mining (AIM: CON) are pleased to announce that two prospecting licences have been granted in Co. Cork, PL 4504 and PL 4505. The licences are thought to be prospective for base metals. The ground is around the former Ladyswell Barite Mine which operated until the 1980s. Barite is used as a drilling mud in oil exploration and has a number of medical and technical uses. It is frequently found in conjunction with base metal deposits. Modern systematic geophysical and drilling programmes have never been applied to the area. Connemara is looking at zinc, lead, silver and copper potential on the ground.
John Teeling, Chairman, 'While our current focus is on our gold/silver licences in Donegal; we keep a watchful eye on good base metal ground coming available. These two licences in Cork are high on our list of priority ground. The ground contains a former barite mine and has good base metal indications; modern exploration tools have never been applied. With zinc prices touching $2,300 a ton prospects are improving in this area.'
Connemara is an active exploration company with principal assets in gold, zinc and lead exploration licences in Ireland. The company holds interests in 34 licenses covering an area of approximately 1, 290 sq km.
This announcement has been reviewed and approved by Graham Reid (P.Geo) in his capacity as the Qualified Person for the purposes of the AIM Guidance Note for Mining, Oil and Gas Companies issued by the London Stock Exchange. Mr Reid is a Professional Member of The Institute of Geologists of Ireland (IGI) and The Society of Exploration Geophysicists (SEG) and has over 30 years' experience in mineral exploration and site investigation fields.
This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.