Conroy Gold and Natural Resources has discovered an "extensive" gold zone from the first drill hole completed on its Clontibret gold deposit in Co Monaghan.
The results are from a new 1,000 metre drill campaign announced by the company earlier this month.
This project is focused on the Clontibret gold deposit in the south west of the Clay Lake-Clontibret gold target where a resource of 517,000 ounces of gold has already been defined.
The company's chairman Professor Richard Conroy described the results as "excellent" and "exceptional".
"Our technical work on the deposit had identified the Tullybuck antimony mine area as a key target for next stage gold focused drilling and the results confirm the effectiveness of our team's pre-drilling technical review," Professor Conroy said.
"The confirmation of an extensive gold zone builds significantly on what we have previously identified. As a result the team are excited with this additional gold zone discovery and what it means for the Clontibret project and our company as a whole," he added.