Gold

There is “significant interest” among international mineral companies in Ireland as a gold mining region, according to prospecting firm Connemara Mining.

In a strategic update, the John Teeling-founded company said a number of international investors and mineral companies had expressed interest in Irish gold opportunities at a recent conference held by the Prospectors and Developers Association of Canada.

Connemara said it is “proactively” reviewing a range of additional opportunities and is well-placed — with 41 zinc and gold exploration licences — to attract major interest in its own portfolio.

“The strategic significance of this portfolio should not be underestimated, at a time when resource companies are seeking entry into Irish exploration, notably in zinc and gold. The company remains open to new partnerships and corporate transactions in respect of our interests,” it said.

Chief executive Patrick Cullen said: “We believe Ireland will emerge as a gold-producing province and expect to see a lot of activity in the coming months, with both progress on mine developments as well as new entrants to follow Connemara in the exploration space. We’ve had early success at both our gold projects [in Donegal and Wicklow/ Wexford] and now we have funds to continue to build on that.”

The company is due to commence its next round of drilling at its Mine River gold project which straddles counties Wicklow and Wexford, and its Stonepark zinc project in Limerick shortly and could spend around €575,000 developing both sites this year.

“Strategically, we are very excited with our current positioning,” said Mr Cullen.

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Article courtesy of Geoff Percival. Irish Examiner.

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