February 17, 2011
By Staff Reporter
Shares in a small company, Conroy Diamonds And Gold, rose 44 percent last Wednesday on news of a possible gold find.
The company announced that an advanced form of geological analysis had revealed two zones in its Slieve Glah prospecting site that showed evidence of “anomalous gold mineralization.” In layman’s terms, that means there is a good chance that the two areas, 440 yards apart, contain gold.
The mountain is just four miles from Cavan Town. It is also 28 miles southwest of the Armagh-Monaghan “gold belt,” where the mining company had previously found gold mineralization.
Conroy’s chairman, Professor Richard Conroy, said in a statement that “exploration at Slieve Glah is still at a very early stage, but results so far indicate that there is excellent potential for another gold discovery.”
The mining company also received a boost last month when renowned investor Bruce Rowan came on board, buying 10 million shares. Rowan, an Australian based in the UK, has an impressive record of backing winners in the mining sector.