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(Sharecast News) - Conroy Gold reported significant progress in its 'Discs of Gold' project in Ireland on Thursday, with its re-logging programme at Clontibret well advanced and the construction of a 3D geological model underway.
The AIM-traded firm said the programme, covering more than 16,000 metres of drill core, was aimed at refining the understanding of mineralisation controls, including high-grade gold zones at depth.
Portable XRF analysis was being used to identify alteration envelopes that could enhance targeting for future drilling.
The company said it was continuing discussions with potential strategic and financial partners to fund the next phase of investment.
It was also planning to apply to the European Union for recognition of Clontibret as a strategic minerals project under the European Critical Raw Materials Act, citing the deposit's antimony potential.
In the second half of 2025, Conroy said it would extend its re-logging programme to other targets, starting with Clay Lake.
Recent drilling results indicated the potential for a large gold system across a seven-kilometre corridor between Clontibret and Clay Lake.
The firm said it was also assessing further exploration targets along the Skullmartin gold trend, where soil sampling has identified anomalous arsenic and antimony values, key pathfinders for gold mineralisation.
Conroy Gold's licence area spans two parallel district-scale gold trends over 90 kilometres, anchored by the Clontibret deposit, which has a 517,000-ounce gold resource.
The company said it believed the region's geological characteristics were comparable to major gold districts in Australia and Canada.
"The company continues to actively engage with interested parties to develop partnerships to accelerate and fund the next phases of the 'Discs of Gold' project," said chairman John Sherman.
"The re-logging programme, including the work on the antimony potential of the Clontibret target, is helping to define and prioritise the investment choices to best progress the Discs of Gold project and build shareholder value."
At 1038 GMT, shares in Conroy Gold & Natural Resources were up 1.58% at 2.44p.
Reporting by Josh White for Sharecast.com.
