- Erris Resources said it would proceed with exploration work to acquire an 80% stake in the Loch Tay gold project in Perthshire, Scotland.

The decision came after the company concluded due diligence for an option agreement signed last month with GreenOre Gold.

'New results received and further fieldwork carried out when weather permitted over the past month have been very successful in expanding the gold potential of the project's key targets, Ardtalnaig and Glen Almond,' chief executive Anton du Plessis said.

'Located in a well-mineralised district, our focus is now on advancing the project to initial drill-testing, targeting 250,000 ounces of gold, which is a similar scale to the Cononish resource where a gold mine is expected to be in production soon.'

At 1:29pm: [LON:ERIS] Erris Resources Plc share price was +0.35p at 4.6p

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