Erris Resources plc (LON:ERIS) revealed that its 100%-owned subsidiary, Erris Resources Ltd has been granted two gold exploration permits on the Nordgruvan Project, in Värmlands, Sweden.
In a statement, the European-focused mineral exploration company pointed out that both new licences - totalling 64.2km2, in southern Sweden – have seen historical gold occurrence, with reported grades of up to 68 grammes per tonne of gold.
WATCH: Erris Resources picks up two gold exploration permits in Sweden
Erris said the Nordgruvan Project will target gold mineralisation on major structures with related intrusions with initial reconnaissance mapping and sampling to start shortly
The group noted that the new permits lie outside of the defined area of interest under its joint venture with Canadian mid-tier mining company Centerra Gold and therefore do not come under the existing agreement.
Erris Resources CEO, Merlin Marr-Johnson, said, "We are delighted to have been awarded the Nordgruvan and Hornkullen exploration licences in southern Sweden, which contain a number of historic and high grade gold occurrences."
He added: “The Nordgruvan Project is in line with our stated objective to identify low-cost opportunities that have the potential to create shareholder value. The geological setting is prospective, the historic grades are exciting, and the licences were available on application to the government.”
The CEO concluded: “Erris Resources is currently drilling the Abbeytown zinc project in Ireland and the Klippen gold project in Sweden and we look forward to updating shareholders on progress in due course."