Exploration company Conroy Gold and Natural Resources said today it has completed due diligence drilling on its Clontibret gold deposit.
Conroy Gold also said it had finished a drill hole on the Cargalisgorran section of the Clay Lake gold target and had started drilling on other targets in the new district scale gold trend which it has discovered in the Longford-Down Massif here.
The Longford-Down Massif has an established history of base metal mining including the Antimony mines at Clontibret, where gold was first discovered.
The company also said it continues to make "positive progress" towards finalising the documentation and other matters in connection with the proposed joint venture with Demir Export.
In February, Conroy Gold signed a Letter of Intent with Demir Export for a planned joint venture on an earn-in basis over the 12 licences held by Conroy Gold in the Longford-Down Massif.
The main focus of the joint venture project is the development of the gold deposit at Clontibret to construction ready status and then bringing it into operation as a gold mine.
It said the due diligence drilling of two drill holes at Clontibret, which has now been completed, is part of the overall process leading to the finalisation of definitive documentation, including the final joint venture deal.