Conroy Gold and Natural Resources PLC says it has now taken the last step in the process of forming a joint venture with Turkish mining firm Demir Export.
It spans an area taking in Clay Lake in south Armagh and Clontibret in northern Monaghan.
It said today that it has now obtained some permissions from the Crown Estate to carry out work in the area.
Conroy said that this “meets the final outstanding condition precedent to completion of the joint venture”.
The joint venture will involve Demir and three separate firms, each representing a different mining area: Conroy Gold (Armagh) Limited, Conroy Gold (Clontibret) Limited and Conroy Gold (Longford Down) Limited.
In a statement released by Conroy Gold PLC, the company chairman Professor Richard Conroy said: “My colleagues and I look forward very much to working with the Demir Export team and building a long term, successful relationship.
“They have the mining expertise and the financial resources not only to bring the Clontibret gold deposit to construction ready status and into operation as a mine, but also to advance the significant gold potential of the other licences along the gold trend to the same status.
“As announced on March 14, 2022, a drilling programme by the joint venture is due to commence towards the end of April. I look forward to making further announcements in due course.”
Professor Conroy is a former Fianna Fail politician and specialist in jet lag with the Royal College of Surgeons in Ireland.
