GreenOre raising £600k to develop their Kerry Road Deposit

For the past year and a half GreenOre Gold plc (GreenOre) has undertaken work near Gairloch in North West Scotland to assess the economic potential of the known mineralisation along the Kerry Road.  Just over 9000m of drilling was conducted at a site along the old Kerry Road in the late 70’s early 80’s where a horizon rich in gold, copper and zinc was discovered.  This site was abandoned due to low metal prices.  A reassessment of the deposit and immediate area by GreenOre has concluded that this deposit is now of economic interest and the surrounding area ripe for further discoveries.

The Kerry Road Deposit is located within a carbonate rich unit in the Gairloch Schist Belt (GSB).  The GSB extends 15km north to south.  Along this trend newly obtained Aeromag data from the British Geological Survey (BGS) has identified 9 distinct magnetic highs along the GSB with the Kerry Road Deposit clearly visible.

Some of these other magnetic high areas were investigated in 2019 revealing massive sulphide beds within the GSB.  These sulphide beds appear along the same stratigraphic level as the Kerry Road deposit.  One such bed located 10km south revealed 0.2 and 0.17g/t gold in grab samples from a sulphide bearing unit which disappears under the sandstone cover.  Historically boulders from the vicinity ran up to 4g/t gold.  Research by the BGS in 1986 identified a similar geophysical anomaly as that at Kerry Road below the sandstone at this location.  This has never been drill tested.  It is believed the sandstone cover is about 40m.  The fact that elevated gold grades can be found over 10km away along the same unit indicates that the gold system is far bigger than just the Kerry Road Deposit.  This also demonstrates the size and scale of the mineralisation event.

In 2018 GreenOre drill tested the mineralised outcrop at Kerry Road and intercepted 17m at 1g/t Au, 0.9% Cu and 0.6% Zn (including 8m at 1.8g/t Au, 1.4% Cu and 0.7% Zn).  Along with the high levels of gold, copper and zinc there also appears to be elevated levels of cobalt within the bed.  Cobalt values in GreenOre’s drill hole were up to 370g/t over 1m.  At surface a value of 410g/t was discovered and analysis of a historic drillhole (GBH15) revealed 450g/t at 25.95m.  As cobalt was never tested historically it is anticipated higher values may exist elsewhere in the deposit.

Following consultation with many experts GreenOre is confident that, if proven accurate, the historic deposit at Kerry Road is now of economic interest.  GreenOre is now seeking funding to develop this deposit beginning with confirmatory drilling and a resource calculation.  Metallurgical test work of the ore and prefeasibility studies will follow.  During this period further investigations will continue to identify more mineralisation along trend.

If you are interested in learning more about GreenOre or willing to invest please sign up at https://www.nrprivatemarket.com/.

ENDs

This announcement has been reviewed and approved by Gavin Berkenheger (C. Geol EurGeol) 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 in Perthshire GreenOre has teamed up with Erris Resources to identify a quarter million ounce gold deposit within four years.

Further information can be sourced from the company website https://greenoregold.com/