Company bidding to find gold in Donegal
Irish exploration firm Connemara Mining is planning to start drilling in Donegal next year in the hope of finding traces of gold in the area, according to the company's chairman.
Connemara Mining has the licences for a large exploration block on the Inishowen peninsula in Donegal.
Chairman John Teeling said that the company is planning on undertaking a trenching campaign in the next number of weeks and is aiming to start drilling in the New Year.
"I would hope to announce the trenching programme in the next six to eight weeks," he said. "The next step will be drilling...which we will not be able to do in the winter so we would hope to start that in the spring of next year."
Connemara also announced yesterday that it made a loss of €88,000 (£65,000) in the six months to the end of June, down from €144,000 (£106,000) during the same period last year.