GreenOre Gold plc and MINEXIA Ltd. are delighted to announce the launch of a GBP 600k private placement focused on advancing the development of the Kerry Road Deposit near Gairloch, North West Scotland. Funding is required for confirmatory drilling and subsequent resource estimation. This will be followed by metallurgy and prefeasibility studies. Geophysical surveys are also planned with the goal of identifying new ore bodies.
The Gairloch Licence is a 100% owned GreenOre Gold plc project which includes a Crown Option Agreement and covers 249km² in and around the village of Gairloch, Ross-shire. Within this licence is the Kerry Road Deposit, an historic gold, copper, zinc deposit discovered in the late 1970’s by Consolidated Goldfields. At that time, it was considered uneconomic, but recent increases in metal prices and the development of more economical mining practices may offer a route to viability.
Managing Director Gavin Berkenheger commented: “Since 2013 GreenOre has been searching the length and breadth of Scotland to find a gold deposit. Along the way we have teamed up with other explorers who continue the development on our other projects. The Gairloch project gives GreenOre the chance to develop our own deposit and set an example on how future mining operations can be done if the right people are involved.”
This exclusive and limited offer to purchase GreenOre shares is only available via the NR Private Market platform.
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.
Further information can be sourced from the Company website: www.greenoregold.com