26 January 2010
Conroy Diamonds and Gold P.l.c.
("Conroy" or "the Company")
Wardrop Engineering Inc Appointed To Carry Out Scoping Study
at Clontibret Gold Project
* Clontibret is Conroy's Most Advanced Gold Project
* Work To Commence On Study Immediately
Conroy Diamonds and Gold Plc (AIM: CDG; IEX: CDGI) is pleased to announce that
it has appointed Wardrop Engineering Inc ("Wardrop") to conduct a scoping study
at Clontibret, the Company's most advanced gold project. The study, which is to
commence immediately, will report using JORC standards and guidelines.
Wardrop is a multi-disciplined engineering and consulting firm that provides
innovative solutions for the natural resource management, energy and
infrastructure markets globally. Wardrop has been working in the global mining
industry since the early 1960s and is in the forefront of gold mining expertise.
Wardrop is a subsidiary of Tetra Tech (NASDAQ: TTEK), a leading provider of
consulting, engineering, programme management, construction and technical
services. The combined companies have more than 10,000 employees worldwide and
capabilities that span the entire project lifecycle.
The Company's Clontibret project currently comprises an indicated resource of
11 million tonnes grading 1.24 g/t gold for 440,000 ounces (oz) contained, and
an inferred resource of 14 million tonnes at a grade of 1.32 g/t for 590,000oz
contained, bringing the total resource to over one million oz. This resource is
taken from the JORC standard report received by the Company in June 2008 using
a reporting cut-off of 0.75 g/t gold. The current resource is derived from
results from 20 per cent of the Clontibret area.
The scope of work by Wardrop will include the following areas - Geology,
including Regional Geology, Resource Review, Deposit Types and Mineralisation;
Mine Plan and Production, Metallurgy and Plant Design, Infrastructure/Utilities
and Ancillary Facilities, Mine Water and Waste Management, Capital and
Operating Costs Estimates and Financial Analysis.
The scoping study will primarily be related to Clontibret. However, in view of
the Company's other gold discoveries in the area including Clay Lake, (Co.
Armagh, 3½ miles North-East of Clontibret), and Glenish (Co. Monaghan, 3½ miles
South-West of Clontibret), the study will take place against the background of
these and other closely related discoveries and their possible implications in
relation to overall development at Clontibret.
Chairman, Professor Richard Conroy said today:
"The appointment of Wardrop to carry out the scoping study at Clontibret is the
all-important first stage in determining if the current one million ounce gold
resource can support a profitable mining operation. It is anticipated that the
study will also consider the possible implications of our other nearby
discoveries, including Clay Lake where we recently announced encouraging
initial drilling results"
The technical content of this release has been approved by Kevin McNulty PGeo,
who is a member of the Company's technical staff, who holds a BSc/MSc in
Geology and Remote Sensing, in accordance with the guidance note for Mining,
Oil & Gas Companies issued by the London Stock Exchange in respect of AIM
Companies, which outlines standards of disclosure for mineral projects.
Conroy Diamonds and Gold Plc
Professor Richard Conroy, Chairman +353 1 661 8958
Merchant John East Securities Limited (Nomad)
Simon Clements/Virginia Bull +44 20 7628 2200
IBI Corporate Finance Limited (IEX Adviser)
John Tuite +353 1 637 7800
City Capital Corporation Limited (Broker)
Charles Dampney +44 20 3178 3399
Lothbury Financial
Ron Marshman/Michael Padley +44 20 7011 9411
Hall Communications
Don Hall +353 1 660 9377
Further details on Conroy Diamonds and Gold can be found on its website at:
www.conroydiamondsandgold.com