Conroy Gold and Natural Resources plc has announced the discovery of a new area of gold mineralisation in the Longford-Down Massif.

The company stated that visible gold was observed at two locations, and that quartz breccia samples returned assay results of up to 123.0 g/t gold.

The exploration programme is being carried out in conjunction with the company’s joint venture partner, Demir Export.

Conroy Gold said the discovery was made during prospecting over the company’s Newtownhamilton option area in County Armagh.

The discovery location is south of the company’s Keady option area, which contains the Conroy Gold’s Clay Lake gold discovery.

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Professor Richard Conroy, chairman of the company, commented: “This new discovery is potentially a transformational event for gold exploration and development in this very large gold district.

“The presence of visible gold and the outstanding gold grades of up to 123g/t gold (4oz/t gold) in these initial samples are exceptional.

"Taken in conjunction with the company’s other significant discoveries, they indicate the potential for the district to become a Tier 1 gold area.“

The company said a trenching and drilling programme is planned to follow up on the discovery to better assess and understand the mineralisation in the area.

Conroy Gold and Natural Resources plc is quoted on the AIM stock market in London.

The share price drifted lower through 2022 and was buoyed by the latest announcement.

Image: Professor Richard Conroy