LONDON (ShareCast) - (Sharecast News) - Irish exploration and development firm Connemara Mining on Wednesday commenced a new drilling programme at the Oldcastle Zinc Project, located in counties Cavan and Meath, Ireland.
The AIM-traded company said the costs of the programme will be carried by joint-venture partner and operator Teck Ireland, which has the option to increase its interest from 65 to 75% of the project by spending a total of €0.4m in additional expenditures by 30 December.

Patrick Cullen, chief executive of Connemara, said: "Teck have completed comprehensive technical work leading to this decision, integrating data derived from previous drilling, geophysics and 2D seismic to refine the targets. The target is compelling, focussed on the Pale Beds within an interpreted fault system that Teck consider may present a Navan analogue."

Drilling of approximately 1,800m is planned across two or three holes, with recent work by Teck indicating the presence of a hydrothermal system and basin bounding fault at the project.

Some surface work, including soil geochemistry and gravity surveys, will be carried out on other areas of the site.

The project itself is comprised of five contiguous licences over 172 square kilometres in an area known to contain zinc mineralisation, with previous drilling having identified trace mineralisation and provided drill core material for detailed analysis back in 2016.

"We are very excited to see drilling recommence at the Oldcastle joint venture, this phase represents a significant step forward for the project," said Cullen.

As of 1515 BST, Connemara Mining's shares were up 3.48% at 2.98p.

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