Connemara Mining Company has announces the acquisition of the Irish subsidiary of Canada-based exploration company Hendrick Resources.
Hendrick Resources is an Ontario company formed by Dale Hendrick in 2011 for the purpose of acquiring properties in Ireland for the discovery and development of precious and base metals.
It’s interests include a large potential gold belt discovered between Wicklow and New Ross, while base metal potential exists in the Irish midland sedimentary basin.
As part of Connemara’s acquisition of Hendrick Resources (Ireland), it has acquired 100 per cent control of twelve existing prospecting licences in the Republic for a royalty agreement comprising 2 per cent.
In addition, the five Connemara prospecting licences in joint venture with Hendrick Resources have been returned to Connemara.
Though the primary focus is gold, lithium pegmatite targets are being developed adjacent to the western margin of the block and Connemara is reviewing potential targets within the expanded block.
Connemara chairman John Teeling said he was "pleased" with the acquisition.
“All 17 licences acquired are focused on the gold in the Wicklow/Wexford area,” he said. “The acquisition has increased the strike length of the primary gold target in Wicklow from around 5kms to 15kms.
“Connemara has already established drill and trenching targets for late 2017/early 2018 and is planning an expanded programme along the trend. Prospecting has identified lithium bearing pegmatites adjacent to the western margin of the block.
“We are excited to be busy in this jurisdiction at this time, as activities on exploration and mining projects are increasing across the island of Ireland.
“Connemara has two other key areas of activity in Ireland including the development of gold targets in the Inishowen block in Donegal and progressing our substantial zinc assets elsewhere in Ireland.”
