Gold exploration company Conroy Gold and Natural Resources said it has identified further mineralised zones at its Clay Lake gold target in Co Armagh.
This follows a trenching programme at the site.
The company's chairman, Professor Richard Conroy, said the results "lend further credence to the view that the Clay Lake gold target has the potential for high tonnage and overall gold content".
The company said that four trenches were dug covering a total of 666 metres. Three of these revealed the presence of black shale, which Conroy said "tends to be associated with the presence of gold".
"Correlation of the trench data with drilling data indicates that the central part of the system is steep dipping to the North and may have significant depth extent which is as yet untested," the company said in a statement today.
Mapping and structural analysis of the trenches was undertaken by independent consultant structural geologist Dr David Coller.