TIDMERIS
RNS Number : 4715A
Erris Resources PLC
12 September 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
12 September 2018
Erris Resources plc
('Erris Resources' or the 'Company')
High grade Zinc-Lead-Silver Grades Returned at Abbeytown
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 delighted to announce high
grade underground channel sample results taken from pillars at its
100% owned Abbeytown zinc project in County Sligo, Ireland.
A technical report with illustrative maps and diagrams will be
available to view on the Company website using the following link:
www.errisresources.com/technical-reports.
Highlights
-- 4m grading 18.40% Zn+ Pb combined with 116.85 g/t Ag from Pillar 4
-- 4m grading 10.72% Zn+Pb combined with 80.46 g/t Ag from
Pillar 2, including 1m grading 31.03% Zn+Pb combined and 231.00 g/t
Ag
-- Style of mineralisation identified in surface drilling can be
traced back to underground workings and demonstrates continuity of
mineralisation
-- Surface drill programme in final stages with results due in the coming weeks
Erris Resources CEO, Merlin Marr-Johnson, said, "These new
channel sample results confirm the presence of high-grade
mineralisation at Abbeytown, which improves our understanding of
the distribution of mineralisation in the historic workings and
underpins the potential of the project. We are excited by the
developments from this work and how it ties in the mineralisation
from underground to the extension of mineralisation identified in
drilling over 400m away to the south.
"Abbeytown is a shallow brownfields zinc-lead-silver-copper
underground project. Recent work included re-accessing the
underground workings, ensuring that the portal entrances to the
underground mine were safe, scaling down the main drives,
installing radio systems, reconditioning access and working areas,
improving ventilation, and taking face channel samples from eight
pillars in the main Index Bed Workings. In parallel with this,
underground mapping, surveying, and 3D modelling has been ongoing.
This work together with the surface diamond drilling programme, is
all part of evaluating the resource potential of the project. We
look forward to keeping the market updated with ongoing progress at
the Abbeytown project."
Further Information
Table 1. Highlighted intersections from Underground Channel
Sampling
Length
Pillar number m Ag g/t Pb % Zn % Pb+Zn %
1 2.00 44.60 9.89 4.20 14.08
------ ------ ---- ----- -------
2 4.00 80.46 2.72 7.99 10.72
------ ------ ---- ----- -------
Including 1.00 231.00 7.53 23.50 31.03
------ ------ ---- ----- -------
3 4.00 14.57 3.86 1.30 5.16
------ ------ ---- ----- -------
4 4.00 116.85 5.75 12.65 18.40
------ ------ ---- ----- -------
5 4.00 95.33 1.54 7.01 8.55
------ ------ ---- ----- -------
6 2.00 83.15 1.75 6.34 8.09
------ ------ ---- ----- -------
7 2.00 162.00 2.97 13.80 16.77
------ ------ ---- ----- -------
8 4.00 33.69 0.91 3.28 4.18
------ ------ ---- ----- -------
The eight channel samples were taken vertically down the face of
pillars that are evenly distributed down the two main drives in the
Index Bed Workings. The channel samples were taken using a single
blade disc cutter, by cutting a v-shaped slot from the top to the
bottom of the pillar face, keeping to the centre of the pillar
face. Note that the channel samples comprised four by one metre
samples and that mineralisation was present in all eight pillars,
with a best grade reported in Pillar 4, returning 4m grading 18.40%
Zn+Pb combined and 116.85 g/t Ag.
The grades reported above are the length-weighted averages of
the zinc, lead, 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 combined, maximum total length of internal
waste 2m, maximum consecutive length of waste 1m. The true
thickness of mineralised intervals is interpreted to be
approximately 100% of the sampled thickness.
In parallel, a surface diamond drilling programme is nearing
completion at the Abbeytown project, with work focussed on the area
south of the old mine. The programme has been designed to test
strike and depth extensions of the mineralisation south from the
underground workings.
Technical Background
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 plans.
*ENDS*
For further information visit www.errisresources.com or
contact:
+44 (0) 7803 712
Merlin Marr-Johnson Erris Resources plc 280
Allenby Capital (Nominated +44 (0) 20 3328
David Hart/Liz Kirchner Adviser) 5656
+44 (0) 20 7186
Erik Woolgar Shard Capital (Joint Broker) 9952
Turner Pope Investments +44 (0) 20 3621
Andy Thacker (TPI) Ltd (Joint Broker) 4120
Isabel de Salis/Gaby St Brides Partners (Financial +44 (0) 20 7236
Jenner 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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