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Centerra Gold elects new Swedish gold project
Centerra Gold elects new Swedish gold project.
About this update from Zinnwald Lithium Plc
[{"type":"text","content":"\n \nRNS Number : 0318C Erris Resources PLC 17 January 2018 \n\n \nErris Resources Plc / EPIC: ERIS.L / Market: AIM / Sector: Mining\n17 January 2018\nErris Resources plc\n(\"Erris\" or the \"Company\")\nCenterra Gold elects a new gold project: Brännberg, Sweden\n \nErris Resources plc, the European focused mineral exploration company with a portfolio of zinc prospects in Ireland and gold projects in Sweden, is pleased to announce that Canadian mid-tier mining company Centerra Gold (as defined below) has nominated the Company's Brännberg gold project in northern Sweden as an elected designated project area (\"DPA\") under its existing agreement with Erris (the \"Centerra JV Agreement\").\n \nOverview\n● Centerra Gold may invest US$1,000,000 in exploration funding over two years to earn a 51% interest\n● Erris continues as operator of the six licences covering the 53 km2 of the Brännberg DPA\n● Work programme planned to include surface till sampling, and geophysics in H1 2018 prior to a new diamond drilling campaign in H2 2018\n \nErris CEO, Merlin Marr-Johnson, said, \"We are delighted that Centerra Gold has elected to earn-in to the Brännberg DPA under the terms of our strategic alliance with this US$1 million investment. It endorses our ability to generate high quality projects that are attractive to major mining companies, and is in-line with the Company's strategy to create shareholder value through early generative exploration and discovery.\n \n\"The new deal allows us to accelerate the work programme at this high priority gold project. Historic drilling at Brännberg returned several intersections of broad gold mineralisation from surface, and we look forward to testing the open targets along strike and at depth to determine the size of the mineralised system.\n \n\"With Centerra Gold now funding our generative gold exploration and three key projects in Sweden, Erris will see US$1,850,000 of exploration funding in 2018 on this portfolio and we have exposure to significant upside with no corporate dilution. \n \n\"Having been admitted to trading on AIM at the end of 2017 with a £4.0m fundraise supported by our 18.9% shareholder, Osisko Gold Royalties, we are looking forward to ...