Erris is exploring for zinc at Abbeytown in Ireland and gold in Sweden.
Centerra Gold has a strategic alliance with Eriis on acreage in Finland and Sweden
Looking for a partner for Abbeytown project
What it owns
Erris Resources PLC (LON:ERIS) holds six licence areas covering an area of 159 sqkm, which comprise the Abbeytown Project in County Sligo.
The area is a proven mineral district, centred on the old lead-silver mine of Abbeytown.
Abbeytown is a brownfields exploration project with underground access and evidence of mineralisation extending southwards from the historic workings.
In addition, there is regional exploration potential at Skreen, Lugawarry, and Streamstown, all within 15km of Abbeytown.
Erris this year acquired 18 contiguous prospecting licences prospective for base metal mineralisation in County Galway.
Brännberg comprises five permits acquired via direct application from the government and a sixth permit (Grundtrask #7) acquired from Beowulf Mining.
Centerra Gold, meanwhile, funds generative exploration and on election of a specific Designated Project Area it can earn up to 70% by spending US$3m per project.
How is it doing
In Ireland, soil sampling has taken place at Skreen where high priority targets confirmed the importance of the Ox Mountains Fault.
Erris has also submitted documents for the renewal of the Abbeytown zinc project having successfully delineated new mineralisation at the zinc-lead-silver-copper project.
Surface and underground drill programmes demonstrated that mineralisation extends south from the old mine and returned several high-grade drill intersections.
Soil sampling work, carried out in 2019, also generated several new targets in a new area
In Galway, the company completed first pass soil sampling at its zinc-lead-silver project.
What the boss says: Anton du Plessis, chief executive
“Erris is fortunate to have in place a valued partner in Centerra Gold, which gives us increased exposure to discovery at no cost whilst also earning a management fee and maintaining an active team and exploration portfolio."
- Erris had cash of €2mln at the end of May
- Looking for partners to help carry load at Abbeytown
- Sampling to continue at Galway to better understand potential
- Drill targets selected for Centerra joint venture