Canada’s Centerra Resources has elected not to earn into the Klippen project, in Sweden, its joint venture (JV) partner Erris Resources reported on Monday, explaining that drill results had confirmed gold mineralisation, but that the nature of the veining was not indicative of a potentially economic mineralising system.
Erris has also elected not to renew the Klippen licence areas, which was due for renewal this week.
The company said that drilling would continue at other properties that form part of the JV agreement with Centerra, with a $1.85-million set to be spent in 2018.
Finnish drilling company Kati has been appointed to drill 3 000 m at the Käringberget and Brännberg projects.
A short drill programme at Käringberget will test a number of magnetic anomalies, following which a diamond drilling programme will start at Brännberg in July.
“The recent ground magnetic survey at Brännberg has identified a series of anomalies over at least 1 km of strike-length, that will be targeted in the diamond drilling programme,” Erris CEO Merlin Marr-Johnson said in a statement.