Erris Resources signs option agreement with GreenOre Gold
Published by Elizabeth Cope,
Editorial Assistant
Global Mining Review,
Erris Resources, a mineral consulting and exploration company, has entered into an agreement with GreenOre Gold plc, giving Erris the option to acquire 80% of the Loch Tay gold and associated base metals project in Perthshire, Scotland.
Overview
- Option agreement signed with GreenOre to explore for gold on the area covered by the Loch Tay Licence in Scotland, conditional on the conclusion of due diligence by Erris
- Project area comprises 237 km2 of highly prospective ground within the Grampian Gold Belt
- Two priority target areas, Ardtalnaig and Glen Almond, identified as having gold potential based on the presence of historic workings, mineralised outcrops and alluvial gold occurrences
- 10 g nugget in the Glen Almond river within the Glen Almond target area discovered in July 2019 by a team from the University of Leeds
- Option agreement provides the company with a low risk option for discovery on a gold project within a stable jurisdiction
- The company maintains its cash position with approximately €1.6 million cash held at the end of November 2019
- The company continues to review projects in low risk jurisdictions internationally that fit its investment criteria
Read the article online at: https://www.globalminingreview.com/exploration-development/11122019/erris-resources-signs-option-agreement-with-greenore-gold/
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