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Erris Resources lands licence around historic Swedish gold mine
Mineral exploration firm Erris Resources announced on Thursday that it has been granted full ownership of an exploration permit for the Enåsen Project in central Sweden.
The licence is a 59.4 kilometer squared area surrounding the historic Enåsen mine, which produced 1.7 Mt at 3 g/t gold between 1984 and 1991, is home to mineralisation characterised by disseminated chalcopyrite and gold in a topaz-bearing quartz-sillimanite gneiss hosted by quartz-feldspar and quartz-mica gneisses.
Merlin Marr-Johnson, chief executive of Erris Resources, said, "The Enåsen Project encompasses the area surrounding the mine and is largely underexplored, covering an area we believe is a prospective geological setting. The company is now starting the first phase reconnaissance programme of mapping and sampling at the Enåsen Project."
According to Erris Resources, the "key driver" behind the licence acquisition was the company's work on integrating data sets and interpreting regional aeromagnetic data across the region.
The AIM-traded company is performing further structural interpretations which it will supplement with the results of the ongoing reconnaissance and mapping programmes.
"The addition of the Enåsen Project to our existing portfolio of projects is in line with our stated objective of identifying low-cost opportunities with the potential to create shareholder value. Work is ramping up across this portfolio; we are currently drilling the Abbeytown zinc project in Ireland and working on a portfolio of projects in Sweden funded by Centerra Gold," said Marr-Johnson.
As of 1218 BST, Erris Resources' shares were up 3.03% at 17.00p.