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Koza Ltd Earn-in 80% of the Ayrshire Project and commit to Further Exploration in Aberdeenshire

GreenOre would like to announce that their partner, Koza Ltd (Koza), has achieved the second earn in on the Ayrshire prospect.  Koza now hold an 80% interest in the project with GreenOre retaining 20%.  All further spend will be conducted on a pro-rata basis.

The 80% earn-in represents a vast amount of hard work conducted by the geological teams on the ground and the work programmes that have been completed throughout the Ayrshire prospect over the past 2 years, since their 60% earn-in in 2018.  These programmes included drilling, soil surveys, geophysical surveys and deep overburden sampling with the aim of increasing our confidence in our prospect models so that future exploration brings more success.

GreenOre is also delighted to announce that further work is also being planned with Koza for the Aberdeenshire Joint Venture. Surveys currently being designed include further deep overburden sampling and drilling.  Work will commence as soon as lockdown restrictions allow and permitting has been secured.

Managing Director Gavin Berkenheger commented: “This is an exciting time for the mineral exploration industry in Scotland. There are many new exiting projects being developed across the length and breadth of the country. These represent a growth sector and herald a new era for mining and exploration in Scotland.  Koza still remains a strong and valued partner for GreenOre’s aspirations to be part of this revolution.”

 

This announcement has been reviewed and approved by Gavin Berkenheger CGeol 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 6 Option Agreements for gold and silver with the Crown Estate Scotland covering a total of 1477km squared in Aberdeenshire, Ayrshire, Perthshire and Ross-shire.  Aberdeenshire and Ayrshire exploration blocks are under joint venture with Koza Ltd and Perthshire with Erris Gold Resources.

Further information can be sourced from the Company website: greenoregold.com

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