Start of Geophysical Electro-Magnetic Survey

RNS Number : 8421I

Erris Resources PLC

26 March 2018

 

Erris Resources plc / EPIC: ERIS.L / Market: AIM / Sector: Mining

26 March 2018

Erris Resources plc

('Erris Resources' or the 'Company')

Start of Ground Geophysical Electro-Magnetic Survey at Käringberget Gold Project, Sweden

Erris Resources plc, the European focused mineral exploration company with a portfolio of zinc prospects in Ireland and gold projects in Sweden, is pleased to announce that a 20 line km electro-magnetic ('EM') ground geophysical survey over previously identified key targets has started at the Käringberget gold project in northern Sweden.  The survey is fully funded by the Company's joint venture partner in Sweden, Canadian gold miner Centerra Gold KB Inc ('Centerra Gold'), which is investing US$1,850,000 across Erris Resources' Swedish portfolio during 2018. 

Overview

●     Fixed loop ground EM survey of 2km² has started over the mineralised zone identified by the 2017 Phase 1 drilling and will encompass additional new magnetic targets

●     Survey designed to identify conductors at depth and along strike from the mineralisation drilled in 2017 with the aim of better defining targets for Phase 2 drilling

●     Phase 2 drilling of 2000m at Käringberget planned for late Q2, followed by Phase 1 drilling of 1200m at the Brännberg gold project

●     Surface till and soil sampling programme to be undertaken over survey area prior to defining final drill targets

Erris CEO, Merlin Marr-Johnson, said, "The work on the ground on the Swedish projects is progressing well: we are drilling at the Klippen Gold project and now we have started the ground EM programme Käringberget.  The data from this EM survey will be combined with till geochemical results to allow the final selection of drill targets for the programme in Q2.  This work is all funded as part of our strategic association with Centerra Gold in Sweden.  I look forward to updating the market as this work progresses and on the other programmes we have running on our zinc projects in Ireland."

Käringberget is located in the western part of the of the Skellefeteå Mining District ('SMD'), only 12 km from the Adak mine that produced 12.1Mt at 1.5% copper between 1940 and 1977.  Erris Resources' drilling in 2017 intersected zones of strong sulphide mineralisation, locally massive, dipping shallowly to the northeast. In addition, a 73 line km ground magnetic survey completed in early 2018 highlighted geophysical anomalies potentially associated with the presence of pyrrhotite or magnetite, in zones related to the mineralisation drilled last year.  This latest survey is a fixed loop ground EM survey of 20 one kilometre lines at 100m line spacing and is expected to take approximately one week to complete.  GRM, a Finnish contractor, is carrying out the survey and is based in Malå for the duration of the survey. 

Erris Resources has booked a drill rig to start in late Q2 to drill first Käringberget (Phase 2, 2000m) and then the Brännberg gold project (Phase 1, 1200m). Ahead of the drilling, the Erris Resources field team will also take surface till and soil samples across the Käringberget survey area to explore the potential for geochemical and geophysical anomalies to act as a vector for mineralisation and assist with drill-hole targeting.

*ENDS*

For further information visit www.errisresources.com or contact:

Merlin Marr-Johnson	Erris Resources plc	[phone]
David Hart/Liz Kirchner	Allenby Capital (Nominated Adviser)	[phone]
Erik Woolgar	Shard Capital (Joint Broker)	[phone]
Andy Thacker	Turner Pope Investments (TPI) Ltd (Joint Broker)	[phone]
Isabel de Salis/Gaby Jenner	St Brides Partners (Financial PR)	[phone]

Notes

Erris Resources plc (EPIC: ERIS.L) is an AIM quoted, European focused, discovery driven exploration company.  Supported by Canadian mining majors, Osisko Gold Royalties, which has a 18.9% interest in the Company, and Centerra Gold KB Inc, a wholly owned subsidiary of TSX listed Centerra Gold Inc., the Company has an established portfolio of zinc-lead-silver-copper assets in Ireland and gold-base metal projects in Sweden, which it is looking to further build on.  Led by a highly qualified team with extensive corporate and sector experience, Erris Resources' strategy is to create shareholder value through commercial discovery of base or precious metal assets in proven mineral districts and in favourable European jurisdictions.

 

END

 

 

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