4 November 2016
Connemara Mining Company plc ('Connemara')
Oldcastle Drilling
Connemara (AIM: CON) is pleased to announce that a drill rig has arrived on site to commence further testing of the Springhall target within the Oldcastle Block located on the Meath/Cavan border in Ireland. The tenure is prospective for zinc/lead. Our Joint Venture partner, Teck Ireland Ltd ('Teck'), has outlined structural, alteration and mineralization evidence which contribute to upgrading this target. The new drill hole, TC-1991-003, is targeted over 1km to the southwest of holes TC-1991-002 & TC-3926-002, which were drilled earlier this year and intersected altered and mineralized zones within the Upper Sandstone Unit. The Upper Sandstone Unit is an important host to the SWEX zone at Tara Mine in Navan, 20km to the SE.
The Oldcastle block of five licences is being explored by Teck in an option agreement with Connemara, under the Oldcastle Zinc Ltd vehicle. Teck has earned into a 51 per cent interest in the block by spending €550,000 and is increasing that towards 75 per cent by spending a further €800,000.
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.