18th Jun 2018 13:23
LONDON (Alliance News) - Zinc and gold miner Erris Resources PLC said on Monday that the 2018 work programme on a portfolio of gold properties in Sweden has made progress on identifying gold mineralisation.
The work programme cost USD1.9 million and is funded by Canadian joint venture partner Centerra Gold, featuring ground magnetic, electromagnetic and induced polarisation surveys, along with surface sampling, mapping and drilling.
The programme has identified a series of anomalies indicating gold mineralisation at the Brannberg project. To this end, Finnish drilling firm Kati Oy has been appointed to drill 3,000 metres at the Brannberg and Karingberget projects.
However drill results from Klippen did not indicate economic mineralisation, and Centerra Gold has chosen not to earn-in at the project.
"We are pleased to report that the recent ground magnetic survey at Brannberg has identified a series of anomalies over at least 1 kilometre of strike-length, that will be targeted in the diamond drilling programme due to begin in July. Ahead of this, drilling will start at Karingberget, as part of the agreed USD1.85 million 2018 work programme across a portfolio of properties covered by our joint venture with Centerra Gold in Sweden," said Chief Executive Officer Marlin Marr Johnson.
Shares in Erris Resources were down 2.2% at 15.40 pence on Monday.
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