LONDON (ShareCast) - (Sharecast News) - Irish explorer Conroy Gold and Natural Resources has become increasingly confident in the Clontibret gold deposit following its latest set of results from its current infill drilling programme on the asset, though its shares continue to wane.
Conroy saw significant intercepts and grades of 4.2 and 4.8 grams of gold per tonne, with geological interpretation suggesting these intercepts "may be part of a well-mineralised gold zone" extending for at least 200m.

The firm reported results for just two of its six recently drilled holes, a total of 406 metres, due to the "stacked" nature of the lodes.

Conroy's chairman, Professor Richard Conroy, said, "The results confirm the strong nature of the grade and width in the mineralisation in two of the main lodes tested which represent around 10% of the current resource. The ongoing programme has added to our knowledge of the gold distribution within the Clontibret deposit and will help focus future development plans."

As of 1030 BST, Conroy shares had lost 3.03% to 16p

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