Post on 16-Dec-2015
Exploring Ireland’s Rich Potential
July 2013
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Disclaimer
Connemara Mining is actively exploring on 24 licences in Ireland
Focus on zinc and gold Connemara has on-going Joint Ventures
with Teck (2) and Hendrick Resources
Exchanges AIM (LSE) Ticker CON Shares in Issue 35,739,711 Market Cap £1.88 m Shareprice 5.25p
Company Snapshot
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Share Price – 1 Year
Significant ShareholdersCorporate Information
James Michael Finn 11.28
John James Teeling 11.25
Statestreet Nominees Limited 9.96
Trampus Limited 6.79
Jack Teeling 4.7
Emma Teeling 3.36
Stephen Teeling 3.36
John Teeling Executive Chairman 40 years experience in mineral exploration. Established Connemara in 2004. Is chairman of a number of AIM resource companies
Jim Finn Director 20 years resource company experience. Holds qualifications in finance and accounting. A director of a number of resource and industrial ventures. Has led the listing procedure for ten AIM companies.
Vivian Byrne Non-Executive DirectorTechnical Director of SLR Consulting Ireland, 40 years experience of the international minerals industry, former senior executive European exploration RTZ. Consultant to European and World Bank programmes in Africa, Caribbean and the Pacific
Graham Reid Technical DirectorGraham Reid is a geologist with over 30 years experience including extensive international experience in mineral exploration and site investigation fields. Graham is a founder of B.R.G. (Geotechnics) Ltd, a junior exploration company, to whom the Company has contracted its selection of prospecting licences and its field exploration
Executive Team: Experienced and Successful
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Company Strategy
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Utilise our existing geological data to cost-effectively expand our
mining portfolio in Ireland
Refine our exploration to better understand our
assets and move closer to realising asset value
Utilise the management team’s considerable
network and experience to identify and realise value in
Ireland and abroad
Enter into Joint Ventures with partners to explore and develop our mining
portfolio
Shareholder Value
Primarily used to galvanise thin sheet metal to protect against corrosion, particularly for the construction & automotive industries
Extensive use in die casting parts for a wide variety of uses including white goods and automotive
Consumption growing at 4% pa due to increasing demand from Brazil, Russia, India, and China.
Current prices are profitable for Irish zinc producers.
Sluggish supply towards the middle of the decade with the closure of several large mines. Almost 1 million tons of supply expected to be lost to the system.
Very little exploration in the last 30 years and mines are running out.
Zinc
Zinc in Ireland
Ireland is the most prospective country in the world for zinc
Ireland produces 25% of Western Europe’s zinc
The Boliden/Tara mine is the largest zinc mine in Europe and 6th largest in the world.
The Vedanta mine at Lisheen is in the top 12 worldwide
Over 20 international firms are exploring in Ireland
Three significant discoveries have been made in the last few years:
Teck/Connemara, at Stonepark in Limerick
Xstrata, Limerick – bought out junior partner, Minco for $19.4m in 2011
Lundin Mining, Clare – high grade results
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Fundamentals look good. Uncertainty stimulates demand Growing uses in jewellery and electronics Gold was mined in Ireland over 1000 years ago In 1796 a Gold Rush in Avoca with estimated 9000oz Au extracted Recently there has been a revival
— Galantas operating a small mine near Omagh, County Tyrone
— Dalradian have a 2.7m oz deposit in Tyrone, can proceed with underground development without Environmental Statement
— Conroy has extensive low grade mineralisation on the border region
— Significant discoveries in the Wicklow/Wexford area by 3 companies but nothing commercial to date.
The principals of Connemara have been involved in gold exploration since the 1980’s
Gold
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Licence Summary
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Block Licences Resource Latest News
Limerick – Joint venture with Teck.
6 Zinc & Lead Teck review completed 3000m of drilling to end 2012.
Oldcastle – Teck committed to spending €1.35 m to earn 75%
5 Zinc & Lead Joint venture with Teck. Significant exploration programme planned for 2013. Possible drilling in Q4.
Wicklow/Wexford Block (JV with Hendrick Resources who must spend €1 m to earn 75%)
5 Gold Positive results from Airborne Geophysics & soil sampling have been detailed & extended. Follow up is being planned
Thurles 3 Zinc & Lead Licence extensions to 2014.
Newcastle West 5 Zinc & Lead Joint Venture partners sought.
Licence Summary
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Connemara has two Joint Ventures with Teck– Canada’s largest diversified resource company– Third biggest producer of zinc in the world
JV in Limerick; Teck have spent €5.7m, Connemara €1.7m. Teck control 76.2%. Connemara have the option to dilute by not subscribing
JV in Oldcastle, Teck spending €1.35 m to earn a 75% interest
Joint Venture Agreements
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Joint Venture with Hendrick Resources, a private Canadian gold company
JV exploring five licences held on Wicklow/Wexford border – 130km2. Hendrick is earning a 50% interest in the licences for €500,000, rising to 75% for €1 million
Comprises of six connecting licences in County Limerick
23.8% owned by the Company, 76.2% owned by Teck Ireland Ltd. €7.4m spent to date
Located 5km away from the Xstrata Pallas Green zinc discovery
Three significant zones of zinc mineralisation (Appendix 1 and 2) all of which remain open:
– Stonepark (discovered 2007)– Stonepark North – High Grade (2009)– Stonepark West (2011)
Principal issue for Teck is whether there is 30m mineable tonnes at sufficient grade
Xstrata is completing a pre-feasibility study on Pallas Green. They need more ore.
Connemara will not participate in the 2013 budget so will own 23.5% by end of 2013
Teck focus moved to north Irish midlands
Limerick Area: Teck JV: Zinc/Lead on Stonepark/Monaster
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The Stonepark Discovery
Key:
2012 Limerick Status
1212
Untested area in Limerick Syncline – depth to target >1500m.
Large hydrothermal breccia system (6x14km) with multiple zones of Zinc and Lead mineralization
Hydrothermal breccias and 35% Zn+Pb over 2.0 m, remains open to the northwest – still largely untested
Deep hole failed to reach top of target horizon
Oldcastle Block – Joint Venture with Teck: Zinc/Lead
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Geologically and structurally analogous to the setting of the >100 Mt Navan deposit just 30 km to the east
Offers the prospect of large tonnage – like Tara
Consists of 5 licences covering 130 sq kms
An 11 hole drilling programme carried out by Connemara in 2008 proved up extensive low grade Zn/Pb mineralisation related to significant NE-SW striking mineralising faults at Drumlerry
Teck has completed a seismic and virtual drilling programme with targets currently being evaluated
Drilling could to commence by Q4 2013 Teck must spend €1.35 m to earn a 75%
interest.
Oldcastle Block – Target Area
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Target Area
Oldcastle Block
Oldcastle Block – Reflection Seismics
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Seismics Reflection Lines 2013
Five prospective licences obtained in this area which has a long gold history
Recent high grade discoveries by IMC on adjacent ground
Extensive database from previous exploration held by Connemara and others
Gold has previously been discovered at Tombreen and Knocknalour with grades of up to 18.6g/t
An airborne magnetics survey has revealed a number of hotspots
Recent soil sampling producing positive results
Detailed target follow-up to possibly to include deep overburden sampling/trenching/detailed IP
No cost to Connemara as Hendrick is spending €1m to earn a 75% interest
Wicklow/Wexford: JV Hendrick Resources: Gold
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Mine River Block
Wicklow/Wexford: Magnetics & DTM
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Digital Terrain Model – Airborne 2012Total Field Magnetics– Airborne 2012
Knocknalour
Tombreen
Caim
Wicklow/Wexford: Highlights
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Mineralised Highlights Title Zone Description
CMCaim Mine
Pb, Ag
Mined intermittently from 1815 to 1846. Mined an estimated
2245 tons Pb + associated Ag. Minor Au in recent drilling
KRKnocknalour
Au
Geochem, trenching, Drilling - 7 Holes. Best Results:
2554-1 (18.89g/t Au over 0.3m), 2554-2 (19.9g/t Au over 0.4m)
TNTombreen
Au
Geochem, trenching, Drilling - 6 Holes. Best Results:
TBD-1 (11.65g/t Au over 0.4m), 2558-3 (18.4g/t Au over 0.5m)
MRMine River
Au
Geochem, trenching, Drilling - 3 Holes. Best Results:
2552/2 (0.28g/t Au over 1.75m)
BYBoley
Au
Geochem Prospecting/Drilling - 1 Hole. Best Results:
Float Qtz 8g/t Au. 12-2551-4 (354g/t Au over 1.5m)
PLPrimrose Hill
Au
Geochem Pionjar - Best Results:
Float 4.8g/t Au, DOB 127ppb Au
KHKilrush
Au
Bedrock Gold- Best Results:
4 g/t Au in qtz veined chloritic schist
KMKilloughrum
Au
Geochem Float - Best Results:
Float phyllite 500ppb Au
BWBallinstraw
Au
Geochem Stream/soil - Best Results:
950ppb Au in Stream pan concentrate, 17ppb in DOB
GHGibbet Hill
AuSoil at over 480ppb Au
Wicklow/Wexford: Tombreen & Knocknalour
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Tombreen Detail Knocknalour Detail
Wicklow/Wexford: Tombreen & Knocknalour
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Best Trench Results Knocknalour Detail
Wicklow/Wexford: Tombreen & Knocknalour
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Tombreen Trench 1
Knocknalour Trench 1
Licences were chosen for their proximity to the Lisheen Zinc Mine
– (22.79Mt, 12.04% zinc / 2.05% lead) And the Galmoy Mine
– (9.9Mt, 12.8% zinc / 1.3% lead). Similar host lithologies to both
mines, interesting regional structural trends and relatively sparsely explored nature
Target blocks were chosen from available geological/geochemical and geophysical databases
4 drill holes completed for a total of 1200m (Red dots)
No mineralisation encountered but positive structural indicators
Licence extension obtained
Thurles Block: Zinc
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Target Blocks
Thurles Block
Teck returned this 10 licence block to Connemara in Q4 2012
Located approx. 20km southeast of Stonepark area
14 drill holes completed totalling 3228 metres (Red stars)
Intercepts from on-trend mineralisation include:
– 5.3m grading 9.6% Zn, 2.1 %Pb– 4.5m grading 12.3% Zn, 1.6% Pb
Connemara has identified 5 high potential areas on the block
5 Eastern licences surrendered in April
Newcastle West Block: Zinc/Lead
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Newcastle West Block
Newcastle West Block: Sole Venture: Target Areas
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Newcastle West Block: Sole Venture: Targets
Area AOn the northern side of a major ENE trending linear that extends from the Kilmeedy inlier and stops against NW-SE trending gravity ridge – a possible fault offset. Much of this zone is untested by recent geochemical soil sampling, so this could also be extended. There are relatively high Zn soil values in the northern part of this area.Area BThis area is on the eastern side of NW-SE trending gravity linear, with a weaker ENE linear to the south. High Pb soil values in the area.Area CThis is an area of elevated Zn soil values and lies to the east of a NW-SE trending gravity linear.Area DThis area lies to the east of a NW-SE trending gravity and topographical linear. There is minor brecciation in the target testing drillholes on PL1943 to the west, which would be worth lithogeochemical sampling.Area EA weak NW-SE trending magnetic linear to the west of this area, with high magnetic intrusives to the east frame this area. This is also on a NNW trending high gravity ridge and with generally high Pb*Zn values.Area FThis area lies on the northern edge of a ENE trending gravity high, and generally high Cu/Pb/Zn soil values.
Appendices
Appendix 1: Stonepark Intersections
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Hole ID From (m) To (m) Thickness (m) zinc (%) lead (%)TC-2638-103 264.15 268 3.85 5.35 1.38
Including:
TC-2638-103 264.15 265.35 1.2 12.41 4.66TC-2638-100 276 289 13 0.14 0.04TC-2638-099 244.8 252 7.2 6.37 2.17
Including:
TC-2638-099 244.8 247.47 2.67 10.88 4.03TC-2638-095 248.8 250.8 2 11.62 0.49TC-2638-091 381.2 383.6 2.4 4.47 0.21TC-2638-0863 382.5 385 2.5 4.16 4.37
TC-2638-074 220 228.65 8.65 7.72 2.19 Including:
TC-2638-074 224.45 227.3 2.85 17.41 3.98TC-2638-064 273 276.1 3.1 1.92 0.56TC-2638-071 260.3 262 1.7 3.01 0.09TC-2638-064 290 288 2 1.09 0.01TC-2638-60 292.7 315.15 22.45 1.24 0.07
Including: 310.85 312.25 1.4 8.05 0.17
TC-2638-055 195 199.9 4.9 10.57 3.05 Including: 196.75 199.5 2.75 16.47 5.26
TC-2638-053 209.4 216.25 6.85 10.47 3.68 Including:
TC-2638-053 212.8 215.55 2.75 19.76 6.99
Appendix 1: Stonepark Intersections – continued
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Hole ID From (m) To (m) Thickness (m) zinc (%) lead (%)TC-2638-051 221.4 228.95 7.55 4.88 1.49
Including: TC-2638-051 224.05 225.05 1 21.9 7.26 TC-2638-045 209.1 216.55 7.45 19.24 8.52
Including: TC-2638-045 211.85 216.1 4.25 26.64 12.3TC-2638-038 251.4 253.2 1.8 5.65 0.91TC-2638-036 202.7 208.05 5.35 13.22 3.18TC-2638-032 207.6 215.4 7.8 5.18 2.68
Including: TC-2638-032 214.05 215.4 1.35 10.4 2.16TC-3638-026 216.05 223.35 7.2 13.07 2.23TC-2638-017 327.45 328.45 0.95 27.69 12TC-2638-016 348.25 361.9 13.65 2.23 0.12
Including: TC-2638-016 349.05 350.5 1.45 4.35 0.24TC-2638-016 354.2 357.5 3.3 4.29 0.14TC-2638-016 360.9 361.9 1 4.92 0.01TC-2638-008 550.1 557.45 6.5 5.02 1.17
Including: TC-2638-008 556.2 557.45 1.1 16.19 3.07TC-2638-007 394.85 410.2 14.9 3.25 0.33
Including: TC-2638-007 394.85 397.7 2.8 12.18 0.75TC-2638-006 460.7 461.15 0.45 2.26 1.54TC-2638-004 372.75 374.05 1.3 6.85 0.3TC-2638-004 376.1 380.1 4 11.62 3.46
Including: TC-2638-004 378.95 380.1 1.15 28.61 4.17
Appendix 2: Stonepark Discovery History – 2007
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TC-2638-004 – 4m @ 11.62% Zn
& 3.46% Pb from 376.1m
10Mt @ 12% Zn+Pb
Appendix 2: Stonepark Discovery History – 2008
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TC-2638-007 – 14.9m @ 3.25% Zn & 0.33% Pb from 394.85mIncl. 2.8m @ 12.18% Zn & 0.75% PbTC-2638-008 – 6.5m @ 5.02% Zn & 1.17% Zn from 550.1m
TC-2638-012 – 0.95m @ 2.37% Zn & 4.73% Pb from 203.15m
14Mt @ 12% Zn+Pb
Appendix 2: Stonepark Discovery History – 2009
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17Mt @ 10.2% Zn+PbTC-2638-026 – 7.2m @ 13.07% Zn & 2.23% Pb from 216.05mTC-2638-032 – 7.8m @ 5.18% Zn & 2.68% Zn from 207.6m
Appendix 2: Stonepark Discovery History – 2010
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24Mt @ 9.2% Zn+PbTC-2638-036 – 5.35m @ 13.22% Zn & 3.18% Pb from 202.7mTC-2638-045 – 7.45m @ 19.24% Zn & 8.52% Zn from 209.1m
TC-2638-053 – 6.85m @ 10.47% Zn & 3.68% Pb from 209.4m
Appendix 2: Stonepark Discovery History – 2011
3333
19Mt @ 10.3% Zn+Pb
?TC-2638-074– 8.45m @ 7.72% Zn & 2.19% Pb from 220m
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TC-2927-009– 0.62m @ 7.01% Zn & 0.82% Pb from 246.5m
TC-2927-008– 1m @ 1.49% Zn from 468m
TC-2927-004– 0.59m @ 1.39% Zn From 401.16m
TC-2638-099– 7.2m @ 6.37% Zn % 2.17% Pb from 244.8m
Appendix 2: 2011/2012 Stonepark Status
3434
Untested area in Limerick Syncline – depth to target ~1000m
Large hydrothermal breccia system (6x14km) with multiple zones of Zinc and Lead mineralization
Contact Details
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INFO@CONNEMARAMINING.COM
T: +353 1 833 2833
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