Metals & Minerals News

Erris doubles Loch Tay gold exploration area

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Erris Gold Resources plc said it had more than doubled its exploration area with a new licence granted to partner Greenore Gold in the Loch Tay project within the Grampian gold belt, Scotland.

Prospective: Erris Gold has the option to earn 80% of the project comprising the Loch Tay mines royal option from GreenOre (Erris Gold)

LICENCE

In May 2020, the companies jointly applied for the Glen Almond licence covering 250km2 of prospective ground.

Erris Gold today announced that the licence had been granted to GreenOre, which increases the project area under option to Erris Gold from 237km2 to 487km2.

The area includes several prospective targets for gold.

LOCH TAY PROJECT

Erris Resources and GreenOre plc entered into an option agreement in December 2019 to explore for gold on the Loch Tay licence in Perthshire, Central Scotland.

Erris has the option to earn 80% of the project consisting of the Loch Tay mines royal option from GreenOre by defining a minimum inferred resource of 250,000 ounces gold within four years of the date of the option notice.

An extension was agreed due to Covid-19 restrictions to March 2024.

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