Monday, 17th December 2007 (1947 views)

An Irish gold mine appears to be one step closer to becoming a reality after a resource project in the country was given a "substantial upgrading" recently.

The Conroy company can now claim that its Clontibret gold reserve contains higher grades of both inferred and indicated resources after the project underwent a series of geological studies.

Indiciated resources at the reserve are now believed to contain close to 200,000 ounces and the company that owns the relevant project is keen to develop the site further in order to convert it into an operational mine.

Chairman of the Conroy company Professor Richard Conroy said: "Our ongoing evaluation work at Clontibret has already paid dividends with this substantial upgrade in the tonnes and grade of the indicated resource.

"The Company is now taking the first steps to implement a scoping and pre-feasibility study on the Clontibret target."

Last year, Conroy announced that an "extensive gold bearing area" had been identified in the region of Lapland that it has licences to mine.

 

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