Mining exploration firm Erris Resources PLC said Monday it has been granted two gold exploration licenses in “underexplored” Sweden.
Erris said its wholly-owned subsidiary Erris Resources Ltd had been granted the Nordgruvan No.1 and Hornkullen No.2 permits in Varmlands, which cover 64.2 square kilometres.
The permits had historical gold occurrences, Erris said, with reported grades of up to 68 grammes per tonne of gold. Initial reconnaissance mapping and sampling is expected to start shortly.
“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”, Erris Chief Executive Merlin Marr-Johnson said.
“Sweden is proven to be prospective for the discovery and development of world class gold mines and has excellent infrastructure,” Marr-Johnson added. “Sweden has several active base and precious metal mines, as well as a long history of base and precious mining in the Norrbotten, Skelleftea, and Bergslagen mining districts. Despite this, however, Sweden as a whole remains relatively underexplored in modern times.”
“Our field teams are now making preparations to start the first phase reconnaissance programme of mapping and sampling at Nordgruvan,” Marr-Johnson continued. “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.”
Shares in Erris were 1.6% higher at 16.00 pence on Monday.
Source: Alliance News