UK-based mineral exploration company Erris Resources, via its wholly owned subsidiary, has secured two gold exploration permits in Värmlands, Sweden.
The licences, Nordgruvan no.1 and Hornkullen no.2, do not fall under Erris’ existing joint venture with Canadian mining company Centerra Gold.
The two new permits cover a total area of 64.2km² and are said to host historical gold occurrences, with reported grades of up to 68 grams per tonne of gold.
“The Nordgruvan Project is in line with our stated objective to identify low-cost opportunities that have the potential to create shareholder value.”
Erris Resources CEO Merlin Marr-Johnson said: “Sweden has several active base and precious metal mines, as well as a long history of base and precious mining in the Norrbotten, Skellefteå, and Bergslagen mining districts.
“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.”
Erris is currently focusing on beginning the first phase reconnaissance programme of mapping and sampling activities.
The company is expected to target gold mineralisation within major structures with related intrusions as part of the project.
Geological Survey of Sweden reports previously revealed that the host geology of the permit area includes early granitoid intrusions.
Hornkullen is located 6km south of Nordgruvan and is noted to host several historic lead-silver-gold workings.
The company’s JV with Centerra’s subsidiary is located within the Skellefteå mining district.