Connemara Mining Company Plc. said the good drilling results achieved at Stonepark in Limerick augur well for the discovery of a large commercial zinc mine.

In the text of its AGM statement, Connemara said it is focusing its activities on Stonepark, which is a joint venture between the company and Teck Cominco.

Two rigs are currently drilling at Stonepark and following 'excellent results' in two holes, a third step out hole 100 metres away has been completed, Connemara said. Visual inspection of the core shows good mineralisation, it added.

The company said it is well funded due to Teck Cominco's funding of all exploration at Limerick. Its cash balance is 550,000 pounds.