logo-loader
viewErris Resources PLC

Erris Resources targets two new gold prospects in Norway

“A modern systematic approach to exploration is warranted to assess the economic potential.

Erris Resources PLC -

 

Erris Resources PLC (LON:ERIS) has received four new exploration permits for gold prospects in Norway.

The Irish explorer added it had also now completed soil sampling, a magnetic drone survey and fieldwork at the Sakiatieva Project in northern Finland, which is it is assessing in collaboration with Centerra.

Anton du Plessis, Erris' chief executive, said the new permits in Norway have been subject to very limited exploration in the past but historical reports suggest they contain high-grades and favourable styles of mineralisation.

“A modern systematic approach to exploration is warranted to assess the economic potential.

 “The new permits are in line with the company's stated strategy to identify highly prospective gold and base metal targets in safe and supportive European jurisdictions and to elevate priority targets to drill-ready status."

The permits cover 10sq km over the Mauken and Gautelis gold prospects in northern Norway.

Exploration by a private company at Mauken unearthed surface samples ranging from 1.0g/t Au to 5.79 g/t Au.

 At Gauken, a total of 1,500m of drilling was undertaken in 1984-1985.

Erris's agreement with Centerra Gold is if a prospect becomes a designated project area the Canadian group can earn up to 70% by spending US$3m per project.

Quick facts: Erris Resources PLC

Price: 4.65 GBX

LSE:ERIS
Market: LSE
Market Cap: £1.44 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Erris Resources PLC named herein, including the promotion by the Company of Erris Resources PLC in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Zelira Therapeutics releases interim data for Phase II...

Zelira Therapeutics Ltd (ASX:ZLD) managing director Dr Richard Hopkins, chairman Osagie Imasogie and clinical trial principal investigator Professor Peter Eastwood, of the University of Western Australia, update Proactive on results from the company’s Phase II clinical trial of medicinal...

3 days, 1 hour ago

2 min read