Erris Resources PLC Positive Metallurgical Results (6659S)

TIDMERIS

RNS Number : 6659S

Erris Resources PLC

13 March 2019

Prior to publication, the information contained within this announcement was deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the publication of this announcement, this information is now considered to be in the public domain.

Erris Resources plc / EPIC: ERIS.L / Market: AIM / Sector: Mining

13 March 2019

Erris Resources plc

("Erris Resources" or the "Company")

Abbeytown Metallurgical Results

Erris Resources plc, the European focused mineral exploration company with a portfolio of zinc and base metals projects in Ireland and gold projects in Sweden and Finland, is pleased to announce positive results from preliminary metallurgical test work at the Abbeytown mine project in County Sligo, Ireland.

Highlights

   --     Study indicated that production of a good quality, saleable concentrate can be achieved 

-- Flotation rougher test work indicated that good results could be achieved over a broad range of primary grind sizes, even as coarse as 80% passing 212<MU>m

   --     Results demonstrated excellent recoveries including 96.2% lead and 95.8% zinc 

-- High silver credits identified with 448ppm silver in the lead concentrate and 340ppm in the zinc concentrate with no significant deleterious elements

-- The Bond Ball Mill Work Index was 8.76kWh/t, classifying the sample as being soft with respect to grindability indicating that any potential development could enjoy favourable processing costs as it would require relatively low primary milling power requirements

   --     Straightforward standard flotation process can be utilised for the recovery of concentrates 

Erris Resources CEO, Anton du Plessis, said, "The results of the preliminary metallurgical study at Abbeytown are very positive and show that good quality lead and zinc concentrates can be produced using a standard flotation process. Furthermore, the recoveries are excellent, the concentrate is clean with respect to penalty elements and the grindability characteristics of the mineralised sample are positive. The results further reinforce our confidence in the economic potential of the Abbeytown project."

Further Information

The Company has received results from a preliminary metallurgical study carried out on samples from the Abbeytown zinc-lead-silver-copper project in County Sligo, Northwest Ireland. The metallurgical testing consisted of a bond mill index test and a bench flotation test performed by Wardell Armstrong in Cornwall, UK.

The sample consisted of 36.4kg of mineralised Index bed and crinoidal limestone collected from the underground workings and exposed mineralisation in the Abbeytown pit. Underground channel samples, results of which were reported on 12 September 2018, were duplicated to make up the sample. The bulk sample contained high concentrations of lead (8.36% Pb) and zinc (13.1% Zn). The sample also contained appreciable levels of silver (129g/t Ag). The concentrations of some common penalty elements in the head sample were 210ppm As, 0.12ppm Bi, 940ppm Cd, 68.4ppm Co, 3.72ppm Hg, 137ppm Ni and 158ppm Sb.

Flotation rougher test work indicated that good results could be achieved over a broad range of primary grind sizes, even as coarse as 80% passing 212<MU>m; recoveries were generally excellent (>90%) to high-grade rougher concentrates (>49% Pb and >42% Zn), regardless of grind size/reagent scheme. Optimum results were achieved in Test FT7, in which a lead rougher concentrate was produced assaying 69.5% Pb and 3.02% Zn at recoveries of 96.2% and 2.6% respectively, and a zinc rougher concentrate assaying 46.6% Zn and 0.61% Pb at recoveries of 95.8% and 2.0% respectively.

Kinetic analysis indicated the potential for generation of a lead flash-float concentrate. Even using a coarse primary grind of 80% passing 212<MU>m, almost 70% of the lead could be recovered to a concentrate assaying >75% Pb after only one-minute roughing. Cleaner testing indicated no benefit to multiple stages of cleaning, with a single stage yielding saleable-grade concentrates and additional stages resulting in large losses to recovery with only very marginal upgrading; and using a primary regrind P80 of 125<MU>m and no regrinding of the rougher concentrates, a lead cleaner concentrate was produced assaying 76.6% Pb and 2.69% Zn at recoveries of 95.7% and 2.1% respectively. A zinc cleaner concentrate was produced assaying 51.8% Zn and 0.52% Pb at recoveries of 94.4% and 1.5% respectively.

The excellent results of the preliminary metallurgy study give confidence to the Company to continue advancing the Abbeytown Project. It should be noted that this was a preliminary test and that the mineralised sample material may differ from that intersected in drilling as it contained a significant amount of Index Bed calcarenite material with no shale present in the sample. However, the style of mineralisation is similar across the Abbeytown area and consists of coarse galena and sphalerite within calcarenites, grits, limestone or shale with low amounts of associated pyrite. Mineralisation remains open to the south of the area of mineralisation reported in the final surface diamond drilling results announced on 24 October 2018 and the Company will aim to increase the known footprint of mineralisation through the identification of additional targets south of hole ERAB005 which contained 15.63% Zn+Pb combined and 90.68 g/t Ag over 4.1m located 375m south of the southernmost extent of the old workings.

The technical information in this announcement has been compiled on behalf of Erris by Aiden Lavelle and Neil O'Carroll. Aiden Lavelle (BSc (Hons), MSc, MIGI, P.Geo ) is Erris' chief operating officer. Neil O Carroll B Eng (Chem) (Hons) is an independent mineral processing consultant and previously having held the position of Head of Metallurgy & Projects at the Lisheen mine, and having worked on various base metal deposits throughout Ireland, has sufficient experience relevant to the activity which he is undertaking to qualify as a Competent Person in accordance with the guidance note for Mining, Oil & Gas Companies issued by the London Stock Exchange in respect of AIM Companies, which outlines standards of disclosure for mineral projects. Mr O Carroll consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.

*ENDS*

For further information visit www.errisresources.com or contact:

 
 Anton du Plessis /Aiden 
  Lavelle                   Erris Resources plc              [phone] 
                            Allenby Capital (Nominated 
 David Hart/Liz Kirchner     Adviser)                        [phone] 
                           -------------------------------  --------------------- 
                            Shard Capital (Joint 
 Erik Woolgar                Broker)                         [phone] 
                           -------------------------------  --------------------- 
                            Turner Pope Investments 
 Andy Thacker                (TPI) Ltd (Joint Broker)        [phone] 
                           -------------------------------  --------------------- 
 Isabel de Salis/Gaby       St Brides Partners (Financial 
  Jenner                     PR)                             [phone] 
                           -------------------------------  --------------------- 
 

Notes

Erris Resources plc (EPIC: ERIS.L) is an AIM quoted, European focused, discovery driven exploration company. Supported by Canadian mining majors, Osisko Gold Royalties, which has a 18.9% interest in the Company, and Centerra Gold KB Inc, a wholly owned subsidiary of TSX listed Centerra Gold Inc., the Company has an established portfolio of zinc and base metals assets in Ireland and gold projects in Sweden, which it is looking to further build on. Led by a highly qualified team with extensive corporate and sector experience, Erris Resources' strategy is to create shareholder value through commercial discovery of base or precious metal assets in proven mineral districts and in favourable European jurisdictions.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

UPDJTMBTMBTBTPL

(END) Dow Jones Newswires

March 13, 2019 03:01 ET (07:01 GMT)