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TECK JV DRILLING UPDATE AT OLDCASTLE ZINC PROJECT

 

Connemara Mining Company plc (‘Connemara’) is an AIM listed company focussed on creating shareholder value through zinc and gold exploration in Ireland. It was established by veterans of the Irish mining industry in 2004.

Ireland is one of the most prospective countries in the world for zinc and produces 25% of Europe’s total production.  The country has a 60 year history of zinc mining (Tara, Tynagh, Silvermines, Galmoy and Lisheen) and has attracted major zinc producers such as Boliden, Glencore, Teck and Vedanta etc.

Connemara has a joint venture with Teck, Canada’s largest diversified resource company, at the Oldcastle zinc project, 20 kilometres from Tara Mine.  Teck are continuing work to earn in to 75% of the project.

Connemara has 23.44% of the Stonepark zinc project in joint venture with Canadian listed Group Eleven Resources.  The Stonepark block is adjacent the 44 Mt 8% combined zinc and lead JORC-compliant resource currently being drilled by Glencore at Pallas Green.

Ireland is an emerging gold mining jurisdiction, with planning permission currently being sought to develop a world-class gold mine in County Tyrone.  Connemara has had early drilling success at its 100% Inishowen gold project in neighbouring County Donegal.  Connemara is also active on its 100% owned Mine River gold project located in Wicklow and Wexford.

Ireland is a stable jurisdiction, has a favourable tax regime, a skilled workforce and good infrastructure. It is ranked highly in Europe and globally in terms of mining and exploration investment attractiveness.

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