Clontibret is the most advanced target. An indicated resource of 11m tonnes grading 1.24g/t gold for 440,000oz contained, and an inferred resource of 14m tonnes at a grade of 1.32g/t for 590,000oz contained have been calculated, bringing the total resource to date to over 1 million ounces. These figures, to JORC standards and based on a 0.75g/t cut-off. These figures relate to one area (Tullybuck-Lisglassan), representing less than 20% of the overall Clontibret Target, which is the first to be investigated in detail.
The local geology at Clontibret consists of Ordovician sedimentary rocks, which lie some 1500m north of the regional-scale Orlock Bridge Fault. The stratigraphy is made up of alternating units of argillite (shale or siltstone) and arenite (greywacke or sandstone) rocks.
The petrography of the Ordovician sediments composed is principally of andesitic material and mineral fragments (pyroxene, hornblende, plagioclase and microphyric clasts), minor but very distinctive blueschist facies detritus (glaucophane, serpentinite, garnet), quartz, felsic igneous detritus and accessory minerals such as chromite.
Three phases of folding have been mapped in this area. The first or earliest is a ductile phase (D1) represented by folds, cleavage and movement on the Orlock Bridge Fault. The second phase (D2) is represented mainly by folds and the third phase (D3) by faults transverse to the regional strike. The first two phases are probably of Caledonian age, the third phase took place between Caledonian and Carboniferous times.
The Clontibret target has four main areas of mineralisation: at Tullybuck - Lisglassan, Ballygreany, Corcaskea and Fintully.