Led by Gavin Berkenheger, an Aberdeen University geology graduate, GreenOre Gold’s exploration portfolio includes sites in Aberdeenshire, Ayrshire and a spot near Loch Tay.

The company has now set its sights on the historic Kerry Road location where exploration drilling at the site in the 1970s and 80s found traces of gold, copper and zinc. However, the location was abandoned because of low metal prices.

However, GreenOre has carried out a new assessment and found that the area is of renewed economic interest and the surrounding area is “ripe for furtehr discoveries”.

To begin the exploration, GreenOre needs funding to begin “confirmatory” drilling and a resource calculation. Funds are also needed to conduct metalurgial test work of the ore, with “pre-feasibility” studies also needing to be carried out.

Minexia, a mineral investment and development company, and its NR Private Market technology platform were brought on board to help the firm secure crowdfunding.

Mr Berkenheger, managing director, said that the coronavirus outbreak had seriously impacted the company’s fundraising plans. He said: “We were hoping to raise £600,000 by the end of this month but the coronavirus has spooked the market completely.”

He added: “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.”