ENNEX International is to add a third drill rig on its gold property at Curraghinalt, in the Sperrin mountains, chairman Mr Michael McCarthy, said yesterday.

Addressing shareholders, at the annual general meeting, he said seven holes have been completed and while assay results have yet to come through, each hole has intersected the vein being drilled.

Director, Mr David Coyle, said Ennex has two licences covering an area of 360 sq kms and these were issued on a renewal basis in January. They are valid, he added, for a six year period to the end of 2001.

Mr McCarthy noted that the group's first priority is to get a mine up and running. With this in mind, Ennex will concentrate most of its efforts on the 250,000 ounces of gold it already has.

Shareholders were also told that there will be active drilling programmes on a number of its 10 base metal licence blocks in the Republic. Around £500,000 is targeted to be spent on the Moate and Shinrone blocks over the next 15 months.

Mr McCarthy said a key priority is to broaden the group's activities and is having discussions about a possible investment in Eastern Europe.