Exploration company Conroy Gold and Natural Resources has said that further testing results from its activity in the Clontibret / Corcaskea area of Co Monaghan are positive.

The company said the latest testing shows further evidence of the scale of the mineralising system in the greater Clontibret area, adding that more gold in bedrock remains to be discovered there.

In a statement, the company said it believes the presence of gold mineralisation in this area is significant.

The testing suggests there may be a continuous mineralised zone between the Clontibret deposit and Corcaskea, it added. 

Conroy also said it had discovered a boulder which has returned assay results of 3.9 g/t gold and 23.2% antimony. 

Antimony is ranked second highest after rare earth elements on the relative supply risk index. 

The main production of antimony is now isolated to a few countries and is dominated by China with relatively few other economic sources.

Conroy noted that antimony - a chemical element - was historically mined at Clontibret and gold was first discovered in channel samples from the old antimony mine workings.

"The demonstration of gold mineralisation between the Clontibret deposit and Corcaskea is potentially significant as it suggests that there may be a continuous mineralised zone and adds further evidence to support the 8.8M ounce gold exploration target," commented Professor Richard Conroy, Chairman of the company. 

"If the antimony in the area proves to be of an economic scale this would be a bonus," the Professor added.