TIDMERIS
RNS Number : 4648O
Erris Resources PLC
30 January 2019
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
30 January 2019
Erris Resources plc
("Erris Resources" or the "Company")
High Grade Underground Drill Results at the Abbeytown
Project
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 provide an
update on its activities at the Abbeytown zinc-lead-silver-copper
project in County Sligo, Northwest Ireland, including the results
for 11 holes out of the 12-hole underground drill programme.
Highlights
-- Grades intersected in underground drilling include:
o 12.66 % Zn+Pb combined and 21.05g/t Ag over 2.0m in
ABUG004
o 14.37 % Zn+Pb combined and 67.25g/t Ag over 2.0m in
ABUG009
o 10.43 % Zn+Pb combined and 34.73g/t Ag over 2.7m in
ABUG009
o 5.33 % Zn+Pb combined and 21.44g/t Ag over 5.0m in ABUG010
o 9.32 % Zn+Pb combined and 60.4g/t Ag over 4.0m in channel
sample pillar AB-PL-10
o 7.88 % Zn+Pb combined and 48.86g/t Ag over 3.0m in channel
sample pillar AB-PL-11
-- Continuity of mineralisation confirmed between historic
underground mine and mineralisation intersected in recent surface
drilling 300m south of mine completed by Erris in late 2018
-- New target areas identified to extend the known footprint of
mineralisation further south from the area drilled 300m south of
the mine
Erris Resources CEO, Anton du Plessis, said, "We are delighted
with the results of the underground work programme at Abbeytown,
which has extended the mineralistion south to join with the surface
drilling we completed last year, expanding the overall size and
potential of the mineralised system. The combination of underground
mapping and drilling has allowed us to advance the project more
efficiently and develop new targets in the extended area south of
the mine. The ground conditions at Abbeytown appear to be very good
and the team has gained valuable experience in underground
operations which will aid future work. We look forward to updating
the market in the upcoming months with the results of the
preliminary metallurgical study and new soil surveys."
Further Information
Access to the Abbeytown underground mine was rehabilitated
during the summer of 2018 in preparation for underground mapping,
sampling and drilling in Q4 2018. These works have now been
completed and assay results from the underground drill programme
have been received along with additional channel sampling results.
Results for one hole which did not intersect significant
mineralisation are pending. A video showing the underground work is
available on the Company's website
https://www.errisresources.com/ireland.
The drilling has resulted in a much better understanding of the
controls and distribution of mineralisation in the project area and
has confirmed that mineralisation is continuous between the mine
and the location of surface drilling south of the mine, results of
which were announced on 24 October 2018.
Two mineralised structures were intersected east of the mine on
trend with mineralisation intersected in hole ERAB010 on surface
(ERAB010: 5m grading 4.7% Zn+Pb combined, 1.12% Cu and 29.3 g/t Ag
from 119.5m to 124.5m). East-west orientated normal faults are now
recognised as important for controlling mineralisation and results
have demonstrated that where these intersect north-northeast
trending structures is typically where the highest-grade
mineralisation is developed. Considering these new observations,
the Company is actively reviewing its exploration model and has
identified new target areas to extend the known footprint of
mineralisation further south from the workings and the area drilled
300m south of the mine. Close-spaced soil sampling is underway over
these areas to confirm the presence of the structures and to
upgrade them to drill targets. Results of a preliminary
metallurgical study involving a bench flotation test and bond mill
test on material collected from the underground pillars are
expected within the next two months.
The underground drilling programme consisted of 12 holes for a
total or 1,004.5m. Many of the holes were near flat or shallow
dipping and drilled out through the crinoidal limestone unit to
seek additional mineralised structures. Five holes were drilled
from the most-southwest part of the mine. ABUG001 drilled at -13deg
to the southeast from pad 1 encountered two zones of mineralisation
at 70m and 102m downhole. ABUG002 was drilled steeper at -28deg and
tested the first zone in the permeable lower grit vertically
beneath the first intersection in ABUG001. Holes ABUG003 and
ABUG004 were drilled towards the south but did not encounter
significant mineralisation beyond the wall of the mine which had
2.0m @ 12.66 % Zn+Pb combined and 21.05g/t Ag from 0.0 to 2.0m.
Drill hole ABUG006, ABUG007 and ABUG008 were drilled on azimuth
208deg along a fence to test the footwall beneath a high-grade
channel sample which returned 4m grading 18.40% Zn+Pb combined with
116.85 g/t Ag from Pillar 4 in the Index Bed. Hole ABUG007
encountered strong mineralisation in the lower grit beneath the
high-grade pillar. The mineralisation is controlled by intersecting
east-west striking and north-northeast striking fracture zones with
mineralisation best developed in the permeable Index Bed and lower
grit units. Mineralisation was not well developed in the crinoidal
limestone between the Index Bed and lower grit.
Drill hole ABUG009 was located in the west side of the mine and
drilled northwards on azimuth 024deg at -51.5deg to test an
east-west orientated fault zone in the shale west of the lower
workings. The hole encountered good mineralisation in the floor of
the mine from 0 to 2.0m (2.0m @ 14.37 % Zn+Pb combined) and in the
lower grit unit at 43.5m to 46.2m (2.7m @ 10.43 % Zn+Pb combined).
Drill hole ABUG010 was from the same location but directed towards
the south (azimuth 200deg) to test another east-west fracture zone.
The hole encountered mineralisation in the floor and a broad zone
of calcite-pyrite alteration including 5.0m grading 5.33 % Zn+Pb
combined and 21.44g/t Ag.
Drill hole ABUG011 was drilled to the west on azimuth 275deg at
-15deg from the most westerly drive in the upper Index Bed
Workings. The aim was to test for parallel altered structures and
to test the west fault at depth near the lower grit. The hole
failed to intersect significant mineralisation.
Drill hole ABUG012 was drilled to the north on azimuth 350deg at
a dip of -50deg from the same pad as ABUG011 to test the strike
extension of the east-west fault intersected in ABUG009. The hole
intersected only minor mineralisation indicating that both
north-northeast trending fracture zones and east-west fracture
zones are required for development of high-grade
mineralisation.
The conclusions of the above mapping, sampling and drilling are
as follows:
-- Dolomite alteration is more consistently developed around the
mineralised zones at depth and in the crinoidal limestone compared
to that observed from surface drilling.
-- There are several steep to vertical dipping north-northeast trending structural zones hosting mineralisation in the mine area with new parallel structures identified in ABUG001 and ABUG002. Mineralisation is continuous along these structures.
-- Mineralisation occurs on east-west trending structures and
fracture zones which are north dipping extensional structures with
moderate dip.
-- The highest-grade mineralisation is developed in feeder zones
where the two trends intersect creating strong fracturing and the
grade is generally higher in the more permeable lithologies.
-- Mineralising fluids travel outwards from the feeder zones
within the permeable lower grit unit and the Index Bed
calcarenite.
-- Strong pyrite-calcite alteration is peripheral to Zn-Pb
mineralisation both at depth in the lower grit and at shallower
levels in the Index Bed as seen on section ABUG006-ABUG008.
These new observations will guide the exploration model at
Abbeytown and work to expand the footprint of the mineralisation
from the current underground and surface drilled areas to date.
The next phase of work at Abbeytown will involve soil sampling
south of the mine site to determine the potential extension of the
mineralised structures towards the Ox Mountain fault located
approximately 1,200m south of the mine. Soil sampling at 10m
intervals across structures has shown to be very effective for
pinpointing the location of mineralised faults which can then be
tested by drilling.
Table 1 Highlighted intersections from underground drill holes
and four channel samples.
Length Pb % +
Hole ID m From To Ag g/t Cu % Pb % Zn % Zn %
ABUG001 2.00 75.60 77.60 21.70 0.00 0.99 2.53 3.51
------- ------- ------- ------- ----- ------ ------ -------
ABUG001 3.00 103.00 106.00 26.13 0.01 0.91 3.06 3.97
------- ------- ------- ------- ----- ------ ------ -------
ABUG002 3.00 76.00 79.00 8.88 0.01 1.41 1.50 2.91
------- ------- ------- ------- ----- ------ ------ -------
inc. ABUG002 2.00 76.00 78.00 11.48 0.01 1.95 1.86 3.81
------- ------- ------- ------- ----- ------ ------ -------
ABUG003 2.00 16.00 18.00 3.35 0.01 0.46 1.74 2.19
------- ------- ------- ------- ----- ------ ------ -------
ABUG004 2.00 0.00 2.00 21.05 0.01 11.05 1.61 12.66
------- ------- ------- ------- ----- ------ ------ -------
ABUG004 2.00 3.00 5.00 7.76 0.00 2.34 0.41 2.75
------- ------- ------- ------- ----- ------ ------ -------
ABUG004 4.00 94.00 98.00 6.79 0.01 0.31 1.84 2.15
------- ------- ------- ------- ----- ------ ------ -------
Inc. ABUG004 2.00 96.00 98.00 9.78 0.01 0.48 2.32 2.80
------- ------- ------- ------- ----- ------ ------ -------
ABUG004 2.00 100.00 102.00 20.22 0.01 1.04 3.13 4.17
------- ------- ------- ------- ----- ------ ------ -------
ABUG006 2.00 14.00 16.00 9.53 0.01 2.89 1.00 3.89
------- ------- ------- ------- ----- ------ ------ -------
ABUG007 2.15 55.70 57.85 29.69 0.04 9.40 2.80 12.20
------- ------- ------- ------- ----- ------ ------ -------
ABUG008 2.55 54.35 56.90 15.44 0.01 1.58 2.11 3.70
------- ------- ------- ------- ----- ------ ------ -------
ABUG009 2.00 0.00 2.00 67.25 0.01 3.59 10.78 14.37
------- ------- ------- ------- ----- ------ ------ -------
ABUG009 3.00 4.00 7.00 8.66 0.00 0.61 1.42 2.03
------- ------- ------- ------- ----- ------ ------ -------
ABUG009 2.70 43.50 46.20 34.73 0.05 6.17 4.26 10.43
------- ------- ------- ------- ----- ------ ------ -------
ABUG010 3.00 0.00 3.00 13.65 0.00 0.87 2.27 3.14
------- ------- ------- ------- ----- ------ ------ -------
ABUG010 2.00 5.00 7.00 13.48 0.01 0.54 1.92 2.46
------- ------- ------- ------- ----- ------ ------ -------
ABUG010 5.00 8.00 13.00 21.44 0.07 0.95 4.38 5.33
------- ------- ------- ------- ----- ------ ------ -------
ABUG011 2.00 0.00 2.00 8.88 0.01 0.68 1.93 2.61
------- ------- ------- ------- ----- ------ ------ -------
ABUG011 2.00 92.00 94.00 11.28 0.00 0.29 2.06 2.34
------- ------- ------- ------- ----- ------ ------ -------
Channel Samples
AB-PL-09 2.00 2.00 4.00 15.80 0.06 1.41 0.84 2.25
------- ------- ------- ------- ----- ------ ------ -------
AB-PL-10 4.00 0.00 4.00 60.40 0.00 3.65 5.67 9.32
------- ------- ------- ------- ----- ------ ------ -------
AB-PL-11 3.00 1.00 4.00 48.86 0.01 2.31 5.57 7.88
------- ------- ------- ------- ----- ------ ------ -------
AB-PL-12 4.00 0.00 4.00 34.90 0.00 1.67 3.05 4.72
------- ------- ------- ------- ----- ------ ------ -------
The true thickness of mineralised intervals is interpreted to be
approximately 60-90% of the sampled thickness depending on the
drill hole orientation and style of mineralisation intersected.
The technical information in this announcement has been compiled
on behalf of Erris by Aiden Lavelle. Aiden Lavelle (BSc (Hons),
MSc, MIGI, P.Geo ) is Erris' 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.
*ENDS*
For further information visit www.errisresources.com or
contact:
Anton du Plessis /Aiden
Lavelle Erris Resources plc +353 (0) 94 902 8481
Allenby Capital (Nominated
David Hart/Liz Kirchner Adviser) +44 (0) 20 3328 5656
------------------------------- ---------------------
Shard Capital (Joint
Erik Woolgar Broker) +44 (0) 20 7186 9952
------------------------------- ---------------------
Turner Pope Investments
Andy Thacker (TPI) Ltd (Joint Broker) +44 (0) 20 3621 4120
------------------------------- ---------------------
Isabel de Salis/Gaby St Brides Partners (Financial
Jenner PR) +44 (0) 20 7236 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 and base metals 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
DRLPGUMGGUPBGRB
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