GreenOre Gold Plc (GreenOre) is delighted to release the results of the first three holes drilled at the Ayrshire project. Highlights of the best intersections are in the table below.
The main mineralised zones occur within tourmaline breccias with abundant sulphide. Notable intersections include 0.5m at 9.86g/t Au and 1.5m at 5g/t Au in hole 17-FB-01 and 12.5m at 1.06g/t Au including 2m at 5.5g/t Au contained within. The gold mineralisation is also related to the sulphide present throughout the country rock. This is supported by Hole 3 which also confirmed gold in the country rock but of low grade. The final results of hole 4 and 5 are expected in December.
Managing Director Gavin Berkenheger commented: “We are delighted to report the discovery of multiple gold bearing structures at greater depths than previously identified. This proves continuity of high grade gold mineralisation at the Fore Burn Project and provides targets for follow up drilling.”
GreenOre Gold Plc (GreenOre) is pleased to report the final results of the drilling programme conducted in the Summer of 2017 at the Aberdeenshire project.
A total of 876.5m of drilling was conducted over 6 holes. Four holes were drilled on Scar Hill and two at Minmore. The drilling at Scar Hill was follow up to the trenching work to determine if grade continued at depth. Drilling has confirmed potentially economic gold grades which warrants further work.
Hole one was positioned at the discovery vein and intercepted 1m @ 4.8g/t Au at 3m. Numerous other veins were intercepted carrying sulphide throughout the 150m hole but with lower gold grades of up to 0.9m @ 0.8g/t at 66.5m. Hole two to four were positioned down dip to the veins intercepted in the trenching. Hole 2 intercepted 2m @ 0.44g/t Au at 74m, 1m @ 0.26g/t at 144m and 1m @ 0.15g/t Au at 50m over quartz veins and oxidised quartz veinlets respectively. Hole 3 intercepted a shear zone running 1m @ 0.53g/t Au at 132m and 1m @ 0.4g/t Au at 183m over a quartz vein. Although hole 4 returned poor gold grades it proved the magnetic anomaly on Scar Hill represented pyrite rich pelite beds.
The two holes at Minmore was follow up to the magnetics survey and soil sampling programme. Although no significant gold mineralisation was intercepted it proved that the magnetic anomaly also represented pyrite rich pelite beds.
The drilling proved that the quartz veins at Scar Hill continued at depth but that gold grade reduces. Future work should identify the location of the source of the gold in the regolith and determine if it exists in economic quantities. The quartz veins to the north of Scar Hill have a different geochemical signature and may not represent enrichment. Soil sampling may identify new structures for follow up drilling.
Managing Director Gavin Berkenheger commented: “This years drilling programme has identified gold mineralisation near surface and at depth. We are delighted to have further advanced the Aberdeenshire project and look forward to follow up work next year.”
GreenOre Gold Plc ‘GreenOre’ is delighted to announce the commencement of a drilling programme in Ayrshire. 800m is planned over 7 drill holes. The drill sites are located on historically known gold occurrences with an aim to replicate previous results and determine any follow up drilling.
Managing Director, Gavin Berkenheger commented: “This is an exciting time for GreenOre, we have just completed a drilling programme in Aberdeenshire and now aim to conduct a similar programme in Ayrshire. If we can confirm and enhance the historic gold locality with this round of drilling we will determine if it is economically viable.”
A total of 877m has been drilled over 6 holes at 2 locations in Aberdeenshire. Drilling was conducted to determine whether the gold bearing structures continued at depth and to identify the source of the magnetic anomalies. Results to follow.
GreenOre Gold Plc is pleased to announce that a fresh drilling campaign is now underway targeting gold on its key Aberdeenshire project.
The drilling is designed to determine the presence of any gold bearing structures at moderate depths. Drilling will extend to a maximum depth of 200 metres with a total of 900 metres planned over 7 holes.
Managing Director Gavin Berkenheger commented: “If these first few drill holes are successful we hope to conduct further targeted drilling to establish whether gold is present on an economic scale in Aberdeenshire.”
GreenOre Gold Plc ‘GreenOre’ is pleased to announce a joint venture agreement with Koza Ltd ‘Koza’ on the Ayrshire licence. Koza have agreed to fund exploration to earn in up to 80% of the holding company. Work will begin this year starting with a stream sediment sampling and prospecting programme to be followed by scout drilling.
Managing Director, Gavin Berkenheger commented: “GreenOre has been working with Koza on our Aberdeenshire licences over the past 2 years and have built up an excellent working relationship. The addition of the Ayrshire licence agreement signals a commitment to develop gold prospects with real economic potential. Scotland has a vast unexplored mineral wealth waiting to be explored. We are thrilled to partner with Koza on our new project.”
“GreenOre would like to announce the appointment of Marc J. Sale as director with immediate effect. Marc brings a wealth of knowledge and experience, developing gold projects around the world from early stage to feasibility. Mr Sale’s sterling reputation and track record in the mineral exploration and mining sector makes a great addition to the board of directors. Marc’s initial responsibility will be aiding in the development of the Ayrshire project with a view to develop GreenOre into a significant player in the European mineral exploration sector.”
GreenOre Gold PLC would like to announce the acquisition of further exploration ground in Scotland near Straiton, South Ayrshire. The total prospecting area covers 250km squared. Historic references include 57g/t gold in outcrop. This decision was made following a rigorous review of all gold occurrences in Scotland. The area has all the right characteristics to host a large scale mineral deposit. Exploration will begin in Spring 2016.
“GreenOre Gold PLC is pleased to announce the acquisition of a further 248km squared prospecting area to the north and east of the ‘Towie’ licence. This has increased the total prospecting area to 500km squared encompassing the townships of Towie, Rhynie and Alford. The increased size of the prospecting area was due to the positive results obtained in the second half of 2015. The results include many high grade rock samples up 53.8g/t over a 10km trend. Visible gold was also noted in a rock sample and numerous streams. Future work will aim to identify the extent of the gold trend and locate new targets. Work will include stream sediment sampling, rock and soil analysis with the possibility of trenching and drilling to obtain gold in bedrock. This move is a part of the joint venture agreement with Koza Ltd.”
GreenOre Gold plc
(“GreenOre” or the “Company” or the “Group”)
Joint Venture agreement on Scottish acreage
GreenOre Gold plc is pleased to announce that it has signed an agreement with Koza Limited, a subsidiary of Koza Altın İsletmeleri A.Ş., regarding gold and silver exploration activities on GreenOre Gold plc’s acreage in Aberdeenshire, Scotland.
Exploration activities will be funded and executed in accordance with the agreement. Koza, which will operate and/or develop the project, will have the right to own 60% of shares of the JV company, based on certain expenditure criteria. Koza will have the option to increase its ownership rights up to 80% based on further committed funding
under the agreement.
Managing Director, Gavin Berkenhager, commented “GreenOre Gold is delighted to partner with Koza, a major gold producer. This further supports our belief in the potential for major gold deposits in Scotland. Our main prospect is on the Dalradian trend, which stretches from Northern Ireland up through Scotland. A 3.5 million ounce gold deposit is currently being developed by Dalradian Gold in Northern Ireland. We hope to repeat this success.”
Greenore Gold PLC www.greenoregold.com
Gavin Berkenheger, Managing Director +44 7841 455 632
Colm O’Reilly, Director +353 87 206 2896
The Directors of the issuer accept responsibility for this announcement.