TIDMERIS
RNS Number : 7033U
Erris Resources PLC
16 July 2018
Prior 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.
Erris Resources plc / EPIC: ERIS.L / Market: AIM / Sector:
Mining
16 July 2018
Erris Resources plc
('Erris Resources' or the 'Company')
Continuing High Grade Mineralisation Intersected at
Abbeytown Zinc-Lead-Silver-Copper Project, Ireland
Erris Resources plc, the European focused mineral exploration
company with a portfolio of zinc and base metals projects in
Ireland and gold projects in Sweden, is pleased to announce
additional drill results from the ongoing surface diamond drilling
programme at its 100% owned Abbeytown zinc project in County Sligo,
Ireland.
Highlights
-- High grade mineralisation intersected in hole ERAB003 of 3m
grading 10.22% Zn+Pb combined and 41.45 g/t Ag from 95m to 98m,
within a wider 7m interval grading 8.33% Zn+Pb combined and 37.36
g/t Ag from 91m to 98m
-- Broad zone of mineralisation in ERAB004, including 10m
grading 2.33% Zn+Pb combined and 10.25 g/t Ag from 131m to 141m
-- Mineralisation open along strike both to the north and to the southwest of these drill holes
Erris Resources CEO, Merlin Marr-Johnson, said, "Abbeytown is
developing into an exciting brownfields zinc-lead-silver project.
Recent drilling has shown that mineralisation is consistently
present south of the original underground workings. Abbeytown is
near-surface and with potentially low-cost development options for
the extensions of mineralisation via the existing underground
access. The ongoing drilling is helping us further define controls
and geometry of the mineralisation south of the mine and we look
forward to keeping the market abreast of these developments as
drilling continues and once we start the underground drill
programme."
Further Details
A surface diamond drilling programme is ongoing at the Abbeytown
project, with work focussed on the area south of the old mine. The
programme is designed to test strike and depth extensions of the
mineralisation away from the old mine. The most recent holes,
ERAB002, ERAB003 and ERAB004, are step-outs on the trend, north and
south of the initial drill hole, ERAB001, and the defined strike
length of mineralisation is 75m, to date. ERAB003 and ERAB002 are
400m south of the historic workings, and ERAB004 is 325m south of
the mine. All three holes were drilled on azimuth 280(o) , inclined
at -60(o) . Mineralisation remains open both to the north and to
the southwest, and Erris Resources plans further step-out holes in
both directions.
ERAB002 was collared 50m south of ERAB001 and missed the target
structure but the alteration showed that the hole is close to the
main body.
ERAB003 was moved 50m west from ERAB002 and intersected intense
calcite-pyrite alteration from surface to the first presence of
sphalerite at a depth of 91m. Below 91m, the drill hole intersected
strong sulphide mineralisation in a dissolution breccia over 7m to
a down-hole depth of 98m. The general trend of the mineralisation
is observed to curve to the southwest from ERAB001. Stepping 25m to
the north from ERAB001, ERAB004 encountered a broad zone of
sphalerite mineralisation from 100m to 144m, with pervasive
dolomitisation. Erris Resources believes this to be outboard of the
high-grade zone.
The Company previously announced results from its first hole,
ERAB001, on 5 July 2018 showing results including 4m grading 10.85%
Zn+Pb combined and 31.1g/t Ag from 163m to 167m.
Table 1 Highlighted intersections from ERAB003 and ERAB004
Hole Length From To Ag Cu % Pb % Zn % Zn % +
ID m g/t Pb %
--------- ------- ------- ------- ------ ----- ----- ----- -------
ERAB003 7.00 91.00 98.00 37.36 0.01 2.80 5.53 8.33
--------- ------- ------- ------- ------ ----- ----- ----- -------
incl. 3.00 95.00 98.00 41.45 0.03 2.97 7.25 10.22
--------- ------- ------- ------- ------ ----- ----- ----- -------
ERAB004 3.50 117.00 120.50 8.61 0.00 0.23 2.06 2.29
--------- ------- ------- ------- ------ ----- ----- ----- -------
ERAB004 10.00 131.00 141.00 10.25 0.04 0.52 1.81 2.33
--------- ------- ------- ------- ------ ----- ----- ----- -------
The grades reported are the length-weighted averages of the
zinc, lead, copper and silver grades. The combined grade reported
above is the sum of the zinc and lead (Zn + Pb) as shown in the
last column.
Composites are generated using a length weighted average for
assays >2% Zn+Pb, maximum total length of internal waste 2m,
maximum consecutive length of waste 1m. The true thickness of
mineralised intervals is interpreted to be approximately 50-60% of
the sampled thickness. ERAB002 did not intersect significant
zinc-lead-copper mineralisation.
Technical Background
All drill holes undergo geological logging, geotechnical
logging, marking up, cutting and sampling. Collected samples are
delivered to ALS Loughrea for multi-element analysis by using aqua
regia leach and ICP-MS, with Ag / Cu / Pb / Zn over range assays
automatically undergoing ore grade analysis by aqua regia and
ICP-AES. CRMs, blanks and duplicates are inserted into the assay
stream by Erris staff.
The technical information in this announcement has been compiled
on behalf of Erris Resources by Aiden Lavelle. Aiden Lavelle (BSc
(Hons), MSc, MIGI, P.Geo) is Erris Resources' chief operating
officer. Mr Lavelle has sufficient experience relevant to the style
of mineralisation and type of deposit under consideration, and to
the activity which he is undertaking to qualify as a Competent
Person in accordance with the guidance note for Mining, Oil &
Gas Companies issued by the London Stock Exchange in respect of AIM
Companies, which outlines standards of disclosure for mineral
projects. Mr Lavelle consents to the inclusion in this announcement
of the matters based on his information in the form and context in
which it appears.
See the Company website
(www.errisresources.com/technical-reports) for maps and
section.
*ENDS*
For further information visit www.errisresources.com or
contact:
Erris Resources +44 (0) 7803
Merlin Marr-Johnson plc 712 280
David Hart/Liz Allenby Capital +44 (0) 20 3328
Kirchner (Nominated Adviser) 5656
Shard Capital (Joint +44 (0) 20 7186
Erik Woolgar Broker) 9952
Turner Pope Investments
(TPI) Ltd (Joint +44 (0) 20 3621
Andy Thacker Broker) 4120
Isabel de Salis/Gaby St Brides Partners +44 (0) 20 7236
Jenner (Financial PR) 1177
Notes
Erris Resources plc (EPIC: ERIS.L) is an AIM quoted, European
focused, discovery driven exploration company. Supported by
Canadian mining majors, Osisko Gold Royalties, which has a 18.9%
interest in the Company, and Centerra Gold KB Inc, a wholly owned
subsidiary of TSX listed Centerra Gold Inc., the Company has an
established portfolio of zinc assets in Ireland and gold projects
in Sweden, which it is looking to further build on. Led by a highly
qualified team with extensive corporate and sector experience,
Erris Resources' strategy is to create shareholder value through
commercial discovery of base or precious metal assets in proven
mineral districts and in favourable European jurisdictions.
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END
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