KOZA LTD APPROVES FURTHER $1M DRILLING BUDGET FOR AYRSHIRE PROJECT TO SEARCH FOR GOLD

Koza Ltd (Koza) and GreenOre Gold Plc (GreenOre) are delighted to announce their plan for further drilling at the Ayrshire project in Scotland.

Koza and GreenOre entered into a joint venture agreement in 2017 on GreenOre’s wholly-owned Ayrshire project, in the south-west of Scotland.  The Fore Burn target was previously drilled by RioFinex in the 1980s, when the company intersected 0.25m at 51g/t gold.

No further drilling was undertaken until 2017, when GreenOre, in joint venture with Koza, drilled 727m over five test holes. These initial holes were drilled at three locations across a 3km wide area.

The drilling, which targeted the historic gold in core and a new outcrop discovery, intersected significant gold grades down to 200m in depth. Highlights include 12.5m at 1.1g/t (including 2m 5.5g/t), 1.5m at 5g/t, 1m at 4.62g/t and 3m at 3.8g/t gold.

Confident with the 2017 drill results, Mr Akin Ipek, Chairman of Koza Ltd, has now approved ongoing exploration and a significant drill programme of 4000m, to be conducted in 2018, after his site visit to Ayrshire. The $1million spend is to further define the style of mineralisation and targets for continued exploration.

Koza has the option to earn 80 per cent of the Ayrshire project, for a $1.95million spend.

Mr Akin Ipek, Chairman of Koza Ltd, said: “We are delighted to continue working with GreenOre on this very exciting project. We look forward to seeing the results of our further exploration.”

Gavin Berkenheger, Managing Director of GreenOre, said:This is a significant milestone for GreenOre, having been actively exploring Scotland for gold for over 5 years.  We look forward to continued success with Koza Ltd.

ENDS