GreenOre Gold plc (GreenOre) is pleased to announce an update on the Loch Tay licence operated by Erris Resources plc (Erris).
Prospecting and mapping was conducted from February to March this year ceasing temporarily due to government restrictions to combat the Covid-19 outbreak. 121 rock chip samples were collected at the eastern extension of the Lead Trial, including an area from the Lead Trial towards the Dunan Valley and the area from the trial towards the Almond.
Fire assay results showed 9 rock samples with a grade above 5g/t gold between 1.6 and 2.9km southeast of the Lead Trial including 17.15g/t and 14.8g/t gold. The 17.15g/t gold is the highest grade result discovered on the project to date and is believed to be from subcrop. One sample returned 1.61% copper and 247g/t silver 3.2km southeast of the Lead Trial workings suggesting a possible zoned mineral system.
Managing Director Gavin Berkenheger commented: “These latest prospecting results are revealing a much bigger gold system at the Lead Trial than previously known. The high grades of gold identified from the recent work is very encouraging and we look forward to further discoveries here in the near future.
Gavin went on to say: GreenOre is still maintaining all of their other licences in good standing during the government lockdown and we hope to be back on the ground again soon. The company has been using this downtime wisely to review current data sets and develop new ideas. Despite other markets collapsing under the current climate there is one thing that remains steadfast and that is the strength of gold as it continues to rise to a price of over $1700 an ounce today. The recent global events and GreenOre’s continued success of discovery have further vindicated our company vision.”
Lead Trial – Dunan Area
The Lead Trial prospect has been significantly expanded to the east to what is now called the Lead Trial – Dunan valley, where a cluster of mineralised boulders has been identified between 1.4km and 3km southeast of the historic workings at the Lead Trial. The total mineralised footprint of the prospect has been increased to 3.2km in a northwest-southeast trend along the lower slopes and floor of the glen. Initial sampling prior to the winter identified mineralised float in the southeast area with 4 samples returning between 1.64g/t Au and 4.67g/t Au. Of the new results reported here, all of the 9 samples that returned >5g/t Au were taken in the new eastern area along with ten other samples with between 0.1g/t Au and 5g/t Au. The two highest grade samples with 17.15g/t Au and 14.8g/t Au were taken 210m apart on the lower slopes of the hill and they are considered proximal to a bedrock source. The sample with 14.8g/t Au is from a cobble of milky white and saccharoidal quartz with minor barite, galena and sphalerite collected in a burn. In addition to high-grade gold, the sample also returned 1.16% Pb, 1.35% Zn, and 10.35g/t Ag.
The highest-grade sample with 17.15g/t Au was from chips across a 1m wide vuggy quartz vein hosted in a 1.5m x 1.2m partially buried boulder or possible subcrop of mica schist. The sample also returned 12.15g/t Ag, 0.98% Pb and 0.97% Zn. The size of this boulder along with the clustering of high-grade float suggests that there is a very local bedrock source for this gold mineralisation. The south-eastern limit of the mineralised boulder train has distinct geochemistry with two samples returning low-grade copper (0.15% and 0.21%) and a third sample yielding high-grade copper, lead and silver with 1.61% Cu, 12.7% Pb and 247g/t Ag. This high-grade sample was a brecciated quartz cobble measuring 10cm x 15cm. Further work is required to expand the boulder train and determine the source of this mineralisation.
Lead Trial – Almond Area
A total of 31 samples were taken along a burn and a vehicle track on the Lead Trial – Almond valley 2-4km south from Lead Trial. No gold mineralisation was identified although two small float samples taken 1km apart yielded distinct Ag-Bi-Pb-Te mineralisation. One small float sample of milky white quartz float with visible galena returned 112g/t Ag, 222ppm Bi, 0.66% Pb and 6.45ppm Te. The other sample from a breccia with quartz fragments in mica schist returned 72.7g/t Ag, 212ppm Bi, 0.6% Pb and 2.61ppm Te. The source of this float is unknown but it could be the Corrie Buidhe silver mine located approximately 2km to the southwest; limited samples from Corrie Buidhe have the same distinctive high Ag-Bi-Pb-Te signature. Further work is warranted in the upper reaches of this glen which was above the snow line when the work was carried out.
This announcement has been reviewed and approved by Gavin Berkenheger (C. Geol) in his capacity as the Qualified Person.
Information for Editors:
GreenOre is a mineral exploration company with a focus on Scottish gold deposits. GreenOre currently hold 7 Option Agreements for gold and silver with the Crown Estate Scotland covering a total of 1721km squared in Aberdeenshire, Ayrshire, Perthshire and Ross-shire. Aberdeenshire and Ayrshire exploration blocks are under joint venture with Koza Ltd and the Perthshire licence is operated by Erris Recources. The company is currently seeking funding to develop the Kerry Road Copper Gold Deposit in Ross-shire.
Further information can be sourced from the Company website: https://greenoregold.com/