TIDMERIS
RNS Number : 5823F
Erris Resources PLC
22 February 2018
Erris Resources plc / EPIC: ERIS.L / Market: AIM / Sector:
Mining
22 February 2018
Erris Resources plc
("Erris Resources" or the "Company")
Start of Drilling at Abbeytown and new Galway Project,
Ireland
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 provide an update on its
operations in Ireland. At the 100% owned Abbeytown project in
County Sligo, Erris Resources has completed in-fill soil
geochemistry surveys and started drilling at the Skreen prospect.
Drilling at Skreen is part of a programme to test high priority
zinc targets in the Abbeytown district.
Additionally, Erris Resources has applied for eighteen new
contiguous prospecting licences in an area east of Galway, County
Galway (the "Galway Project"). The licence application covers
673km(2) , located in an unexplored setting analogue to and
approximately 40km west of the Tynagh deposit.
Highlights
-- 292 infill soil geochemistry samples taken at Skreen, Lugawarry and Streamstown
-- Phase One 5,000m drill programme started at Skreen to test high priority Zn targets
-- 18 new licence applications made over the new Galway Project area
Erris Resources CEO, Merlin Marr-Johnson, said, "We are pleased
to report that drilling has started at Skreen, the westernmost
target at the Abbeytown zinc project. As part of this Phase 1
5,000m drill programme, Erris Resources will drill approximately
1,500m at Skreen as it hosts a number of high priority targets
within the Abbeytown district.
We have also expanded our land position in Ireland through an
application for eighteen licences covering 673km(2) which make up
the new Galway Project. The licence application covers a
prospective block of the southwestern continuation of the
Carboniferous zinc trend of the Irish Midlands that has been opened
up by the release of new data generated by the Government funded
Tellus geophysical survey. We have used this new data and
integrated it with our inhouse data to identify potential new
targets. This type of new project generation is in line with our
stated objective to identify low-cost opportunities that have the
potential to create shareholder value."
Further Information
Abbeytown, County Sligo, Ireland
Erris Resources has completed in-fill soil geochemical surveys
at the Streamstown, Lugawarry and Skreen prospects. Existing soil
sampling at 50m was carried out on lines spaced 200m apart and
Erris Resources has completed infill lines across the main
anomalies to reduce the grid spacing to 100m x 50m. At Skreen, soil
geochemical lines were extended where soil anomalies were
previously open-ended. All 292 samples have been submitted for
assay and results will be incorporated into the geological model
and will assist drill targeting.
A 5,000m Phase One diamond core drilling programme is underway
at the Abbeytown Project. Erris Resources has four main target
areas to be tested as part of this programme: Skreen, Lugawarry,
Streamstown and Abbeytown. The table below shows the planned number
of drill meters at each area. Work is currently focused on Skreen
where drilling will test the main north-northeast trending historic
soil anomaly (>150 ppm Zn) which is approximately 3km long and
1.75km wide at its widest.
Abbeytown Project Drill Programme
-------------------------------------------------
Prospect Meterage Allocation (approximate)
------------- ----------------------------------
Abbeytown 2,000m
------------- ----------------------------------
Streamstown 750m
------------- ----------------------------------
Lugawarry 750m
------------- ----------------------------------
Skreen 1,500m
------------- ----------------------------------
TOTAL 5,000 m
------------- ----------------------------------
Galway Project, County Galway, Ireland
Erris Resources has applied to the Exploration and Mining
Division for eighteen contiguous Incentive status (as detailed
below) prospecting licences in an area east of Galway, County
Galway.
The area is prospective for zinc-lead-silver-copper
mineralisation. Near Galway there are historic lead workings at
Oranmore, soil anomalies at Rinnmore (now an urban area) and two
other base metal occurrences. The licences are located
approximately 40km west of the Tynagh Mine which hosted 9.4Mt at
3.2% Zn, 3.0% Pb, 0.3% Cu and 1 oz/ton Ag, and they cover similar
geology to Tynagh. The Tynagh mine operated from 1965 to 1981 and
was the start of a new mining era in Ireland, leading to the
development of base metal mines at Silvermines, Gortdrum, Navan,
Galmoy and Lisheen.
The area is not well explored, largely due to poor outcrop. New
road cuttings and the recently released government funded Tellus
geophysical survey provides new data into one of the least-mapped
parts of Ireland. Geophysical data shows several major structures
extending southwest from the Irish Midlands and complex basin
margins with Carboniferous-age lithologies that host all of the
Irish zinc deposits. The Erris Resources selection is based on a
reinterpretation of the geological potential combining historical
and new data sets. In addition, regional Geochemical data, also
part of the Tellus Survey, is due to be released in Q1 2018.
All of the prospecting licences have Incentive status, which
under Irish law have reduced fees and minimum expenditure
requirements.
Prior to developing drill targets, Erris Resources' work will
comprise integration of new and historic data, soil sampling across
structures, rock chip sampling on new road cuts, and application of
new models.
Technical Background
Drilling at the Abbeytown Project is being done by Drilling
2000. Core diameter is NQ (47.6 mm) and after photographing and
logging, core intervals averaging 1-2 metre for mineralised samples
will be cut in half at Erris Resources' core facilities in
Ballysadare, County Sligo. Samples for assay will be sent to ALS
Global laboratories in Loughrea, Ireland. Tellus Geophysical data
was reprocessed by Williams Geophysics Ltd. in the UK.
The technical information in this announcement has been compiled
on behalf of Erris Resources by Aiden Lavelle. Aiden Lavelle (BSc
(Hons), MSc, MIGI, P.Geo) is Erris Resources' chief operating
officer. Mr Lavelle has sufficient experience relevant to the style
of mineralisation and type of deposit under consideration, and to
the activity which he is undertaking to qualify as a Competent
Person in accordance with the guidance note for Mining, Oil &
Gas Companies issued by the London Stock Exchange in respect of AIM
Companies, which outlines standards of disclosure for mineral
projects. Mr Lavelle consents to the inclusion in this announcement
of the matters based on his information in the form and context in
which it appears.
See the Company website
(www.errisresources.com/technical-reports) for maps.
*ENDS*
For further information visit www.errisresources.com or
contact:
Erris Resources +44 (0) 7803
Merlin Marr-Johnson plc 712 280
David Hart/Liz Allenby Capital +44 (0) 20 3328
Kirchner (Nominated Adviser) 5656
Shard Capital (Joint +44 (0) 20 7186
Erik Woolgar Broker) 9952
Turner Pope Investments
(TPI) Ltd (Joint +44 (0) 20 3621
Andy Thacker Broker) 4120
Isabel de Salis/Gaby St Brides Partners +44 (0) 20 7236
Jenner (Financial PR) 1177
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 assets in Ireland and gold 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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