Business Irish

Sunday 22 April 2018

Erris Resources commences Sligo drill programme

 

'Erris has recently identified further sites with zinc potential and has applied for eighteen new prospective licences in east Galway.' Stock photo: Thinkstock
'Erris has recently identified further sites with zinc potential and has applied for eighteen new prospective licences in east Galway.' Stock photo: Thinkstock

Fearghal O'Connor

Erris Resources has commenced a major drilling programme at its Abbeytown zinc prospect in Co Sligo.

The European-focused mineral exploration company, which is backed by two Canadian mining firms, Osisko Gold Royalties and Centerra Gold, has a portfolio of zinc prospects in Ireland and gold projects in Sweden

It has begun the first 5,000 metre phase of a potential 21,700 metre drill programme of four targets in Sligo. Erris said in financial results published in recent days that it was "rapidly advancing work on the ground" at Abbeytown.

The project covers an historic lead-zinc-silver mine situated within an active limestone quarry, where ore was extracted on an industrial-scale between 1951 and 1961.

"We are very excited about this project and look forward to providing updates on our progress," said Erris chairman Jeremy Martin.

In December Erris raised £4m through a placing and listed on London's Alternative Investments Market (AIM).

"We are now focused on advancing our prospective portfolio of 100pc-owned zinc assets in Ireland and gold projects in Sweden, as well as generating and acquiring additional exploration opportunities that the board believe have the potential to add value to the business," said Martin.

Erris has recently identified further sites with zinc potential and has applied for eighteen new prospective licences in east Galway.

Meanwhile, Toronto-listed company Hannan Metals also announced a drilling programme to test targets on its Kilbricken zinc-lead-silver prospect near Ennis as well as other prospects in Co Clare. Hannan's expanded programme will involve 20,000 metres of drilling, it said. It plans to test what it described as seven significant targets.

Hannan's exploration expansion follows on from its estimate last year that the Kilbricken prospect contains 4.4 million tonnes at 8.6pc zinc equivalent.

Sunday Indo Business

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