Clontibret Target Mineralisation

Within this Northwesterly dipping sedimentary sequence there are a number of prominent cross-cutting mineralised structures. These appear to be a North - Northwesterly striking (335) set of fault structures, which dip at variably steep angles to the west-southwest. Mineralisation occurs in two styles: Disseminated gold mineralisation is associated with sulphides in a stockwork zone largely within the arenite sequence, and above and below the stockwork zones, and crosscutting both argillite and arenite sequences, are zones of higher-grade lode-style mineralisation. Typically, the lode-style mineralisation is made up of a narrow, high-grade, quartz veined core; typically one to two metres wide with sporadic gold values up to 10 to 20g/t; and a wider low-grade halo around the central structure. These low-grade haloes may be tens of metres in width and appear to be more laterally persistent than the high-grade mineralised fault zones that they encompass. The low-grade haloes can be traced for up to 100 to 200 metres both laterally and down dip. Conroys latest geological model has been based, not on correlating narrow high-grade veins, but on correlating the low-grade haloes from section to section, and up to surface. To date, some thirty-four mineralised lode structures or zones have been identified this way the strike of these is 330 to 335.

Schematic diagram to illustrate major geological relationships

Schematic plan view of the central vein area to illustrate major geological relationships

Schematic West East cross-section in area of central to illustrate major geological relationships.

Each lode zone consists of multi-phase assemblage of fault gouge, breccia and quartz-carbonate veins. The principle ore minerals are arsenopyrite, pyrite and stibnite. Fine gold grains are intimately associated with these minerals.

High-grade Arenite core at 32 g/t Au in the Tullybuck area.

Enlargement showing Au mineralisation.

With regard to faulting, two main groups of faults were observed during previous geological work at Tullybuck Lisglassan: The mineralised trend of NNW striking faults typically striking 330 to 335 and dipping 650 to 750 to the SSW), and A NNE trending fault set (strike 0100 with W dip of 75 to 800), which appears to postdate the mineralised structures and sinistrally offset them by 10-20m.

Principal stages in vein and mineralisation paragenesis

View document in PDF Format No thin section or other detailed mineralogical work has yet been undertaken by the Company at this project. Nevertheless, based on current evidence, it appears that there are six main stages of mineralisation:

Within the vicinity of the lode zones there are two suites of early and generally barren veins (Stages 1 and 2 in the Summary Table). Multistage tectonic activity, with intervening episodes of quartz-carbonate vein formation, and probably some associated pyrite and arsenopyrite deposition, is indicated by fragments of wallrock and earlier vein suites set in quartz-carbonate. Further movements created sections of fault gouge making the zones typically incompetent and difficult to sample in diamond drill cores. (Stage 3)

A widespread Au / As hydrothermal event this brought in a wash of Au / As mineralisation, which occupied both the high grade cores of the structures, and the low grade haloes around them (which are typically up to 2m to 10m in width either side of the cores of the structures). Both the mineralised cores and the width of the low grade haloes appears to be better developed when the mineralised structure is hosted within the more porous arenite wallrock as opposed to the argillites. Across the Tullybuck Lisglassan property, drill sample evidence to date suggests that the Au and As were intimately associated, since they occur together in virtually all known samples, and at a consistent ratio of approx. 700:1 As:Au. (Stage 4)

A stibnite-bearing event, which was the focus of early activity at the Clontibret mine. On the little evidence seen to date, it would appear that this Sb phase crosscuts the Au:As event and therefore postdates it. (Stage 5) The final stage of veins cross-cuts the earlier stages and is probably unrelated to them. They contain ferroandolomite and sidrite but no quartz, arsenopyrite or stibnite. Very locally, however, minor amounts of galena, chalcopyrite and spalerite are present, which suggest a relationship to the lead vein type deposits which occur elsewhere in the district.

Geological Modelling
As aforementioned, the above model fits well with the observations made to date on the Tullybuck-Lisglassan project. However, as with all such models, they needed to be continually reviewed and updated with the receipt of new data. In constructing a geological model for such an established project as Tullybuck-Lisglassan, it was necessary to go back to the basics in terms of examining prospect geology, and in particular examining the detailed geological and mineralisation relationships which may be relevant in constructing such a model. As a starting point, all relevant assay and geological data was transcribed onto the 1:500 and 1:250 scale cross sections. Assay data was reviewed, and colour coded according to level of value this was to enable easy visual appreciation of high grade and low grade trends etc. A striking feature to emerge from the geological review was the very close association between gold and arsenic across the Tullybuck - Lisglassan property. All old drill hole data, totalling over 900 drill samples which had both As and Au values were composited onto a spreadsheet and the As and Au values graphed against each other. When this data was examined, it was found to correlate very well, forming a straight line arithmetic relationship this straight line indicates a ratio of As:Au of approx. 700:1 (ie. a sample containing 700 ppm As would contain 1 ppm Au). The correlation matrix between these As and Au data was found to be 0.96 equating to 96% of the sample values correlating closely using a correlation coefficient.

Au vs. As plot

As a check, assay data from different parts of the property were examined as separate populations (eg. the Shaft Zone near the shafts, the West Zone some 200m SW of the shafts, and the Stockwork Zone S of the shafts). However, this exercise established only slight differences in correlation matrices so for convenience the data was composited together. In other words, this exercise confirmed that, over the different areas of the prospect drilled to date, the As:Au relationship holds up very well. Arsenopyrite pyrite mineralisation is everywhere fine grained and, for the main part, occurs disseminated within the Arenites. Concentrations of the sulphides are greatest within the core of the lodes and decline progressively outwards through the zone of phyllic alteration. Arsenopyrite is typical in the form of diamond shaped crystals between 50 and 500 microns, and exceptionally up to 1 mm in length. Orientations are random. Pyrite is always present in association with arsenopyrite and is typically in the form, rounded particles between 100 and 500 microns and rarely up to mm in size. They are generally less common than those of arsenopyrite. Grain sizes of both arsenopyrite and pyrite are typically smaller in the veins than in the adjacent rocks. The only other sulphide minerals associated with this stage of the mineralisation are sphalerite, chalcopyrite, tetrahedrite and a Ni-Co phase (probably bravoite) all of which occur as rare and small inclusions within pyrite. The arsenopyrite crystals are notably free of inclusions of other sulphides or rock-forming minerals. To date microscopic examination of polished sections undertaken by Dr G. M. Steed of Munster Base Metals and J. H. Morris of the Geological Survey of Ireland indicate that particulate gold and normally less than 10 microns does not account for the total gold content and that a proportion of the total gold lies in arsenopyrite and to a lesser extent pyrite, either in sub-microscopic particles or as a true lattice constituent. This association is confirmed also by the close correlation between Au and As. Another point to emerge was the existence of low grade mineralised haloes enveloping the high grade core structures. Typically, a mineralised structure at Tullybuck - Lisglassan is made up of: A narrow high-grade core, typically 1-2m wide with sporadic Au values up to 10-20 g/t and in the region of 7,000 to 15,000 ppm As, and A wider low-grade halo around the central structure, whose edges are defined by the 100 ppm As cut off (equivalent to approx. 0.14 g/t Au). This halo may be up to 10m wide in the area of the Main Vein, but appears to be thicker in the West Zone and out to the East.

Furthermore the low-grade haloes appear to be more laterally persistent than the high grade mineralised fault zones that they contain. Broadly speaking, it appears on evidence to hand that while the high grade veins can be traced typically over distances of up to several tens of metres, the low grade haloes can to traced for up to 100 to 200m both laterally and down dip - and possibly significantly more than this, since all structures are open along strike and down dip. Thus the new geological model has been based, not on correlating narrow high-grade veins, but on correlating the low-grade haloes from section to section, and up to surface. The implications of this work at Tullybuck-Lisglassan are apparent for other Au/As prospects in the Clontibret area, and also held under licence by CDG. These include the Ballygreany, Fintully, Corcaskea (also known as St. Marys Creamery). Since it is becoming apparent that the Tullybuck-Lisglassan deposit is reasonably straightforward to model geologically, it means that other similar deposits in the area should also be possible to model. This is especially the case if these prospects contain consistent Au / As ratios and are hosted in broadly similar Ordovician arenites to the North of the Orlock Bridge Fault. The stockwork zone is largely within the arenite sequence which occurs as a broad bedded unit, striking roughly SW to NE and dipping at 50 to 60 to the NW and bounded by a hanging wall fault zone and a foot wall fault zone. There is enrichment of gold at both the base and the top of the stockwork zone. The stockwork is a low grade mineralisation.

Typical Arenite Stockwork intersection in yellow in Tullybuck area the Foot wall and Hanging wall faults are shown in red.

Arenite Stockwork at 1.02 g/t Au in the Tullybuck area.

Enlargement showing mineralisation.

The principal strain direction can be seen in the model below by the green arrow. This has caused the argillite above and below the stockwork to behave in a plastic manor and allowed movement, which results in heavily broken areas at the top and base of the stockwork. Due to this the heavily broken rocks allows the mineralised fluids to flow more readily leading to more intensively mineralised zones at the top and base. has also added to the lode zone fracture system develop through the least principal stress axis .

Stockwork Model