Connemara Mining has acquired five new prospecting licences in Co Donegal.
The licences cover 187 sq km on the Innisowen peninsula.
According to the company, it is considered by geologists to be prospective for high grade gold mineralisation and the potential for base metal deposits, with Tellus Survey data confirming the presence of elevated gold in the area. The area also includes the former Glentougher Lead Silver mine.
The previous licence holder identified rock samples containing up to 104g/t gold in 2011, but did not discover a high grade outcrop. Survey data has highlighted 16 target areas for investigation, with an initial prospecting programme due to start in the coming days. The first results are expected in July.
"This move by Connemara furthers the aggressive stance we are taking in discovering Ireland's next gold deposit," said chairman John Teeling. "It is worth noting that the new licence block is located within the Scottish-Irish Gold Belt along trend from the discovery by Dalradian Gold where they have recently announced an inferred gold resource of 3.5 million ounces."
