Conroy Gold and Natural Resources has started a drilling programme on its Clontibret gold target in Co Monaghan, in conjunction with its joint venture partner Demir Export.

The drilling programme is part of the €4.5m earn-in work programme of the first phase of the agreement with Demir Export.

The joint venture aims to further explore and develop the new district scale gold trend which Conroy Gold has discovered along the Longford-Down Massif in Ireland.

The Longford-Down Massif has an established history of base metal mining including the Antimony mines at Clontibret, where gold was first discovered.

Conroy said the initial 3,000m drill programme consists of eight drill holes and will extend the eastern gold Lodes and the Stockwork gold mineralisation, both of which are open in all directions and to depth.

Professor Richard Conroy, Chairman, said the company was very pleased that this initial 3,000m drill programme has commenced, in conjunction with Demir Export.

"It is a further important step toward the development of a gold mine at Clontibret," Professor Conroy added.