Business
Update on Loch Tay Gold Project Acquisition
Update on Loch Tay Gold Project Acquisition.
About this update from Zinnwald Lithium Plc
[{"type":"text","content":"\n \nRNS Number : 8034Z Erris Resources PLC 15 January 2020 \n\nPrior to publication, the information contained within this announcement was deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (\"MAR\"). With the publication of this announcement, this information is now considered to be in the public domain.\n \nErris Resources plc / EPIC: ERIS.L / Market: AIM / Sector: Mining\n \n15 January 2020\nErris Resources plc\n \n(\"Erris Resources\" or the \"Company\")\n \nIssue of Option Notice to Acquire 80% of Loch Tay Gold Project \n \nErris Resources, the European focused mineral exploration company with a portfolio of projects is pleased to announce that it has successfully concluded its due diligence for the Option Agreement (the \"Option Agreement\") signed with GreenOre Gold plc (\"GreenOre\") on 9 December 2019. Erris Resources has today issued the Option Notice to GreenOre and will proceed with the exploration work to acquire 80% of the Loch Tay gold project (the \"Loch Tay Project\" or the \"Project\") in Perthshire, Scotland. Full details of the Option Agreement can be found in the Company's announcement of 10 December 2019.\n \nOverview\n· Project area comprises 237 sq. km of highly prospective ground within the Grampian Gold Belt, located 43km east of the new Cononish gold mine \n· Initial results received from the due diligence work at the two priority target areas: \no Glen Almond - two high-grade narrow vein samples from separate veins grading 10g/t Au or greater \no Ardtalnaig - sample from historic mine dump returned 9.39g/t Au, 8.37g/t Ag, 1.75% Pb and 8.98% Zn\n· The early success in locating new outcropping high-grade gold mineralisation at Glen Almond is very encouraging \n· Recent mapping and prospecting have significantly expanded the footprint of the mineralisation and alteration at Ardtalnaig with newly identified mineralisation in outcrop located in bedrock in a burn 2km south-southeast and along trend of the historic workings at Ardtalnaig\n· Erris now has the option to earn 80% of the Loch Tay Project by defining a minimum inferred resource of 250,000 ounces gold, to ...