ECR Minerals plc (LON: ECR), the gold exploration and development company focussed on gold exploration in Australia, is pleased to announce initial results from its first drilling campaign at Cherry Tree (“Historic reserve number 4”, “HR4”, “Cherry Tree”) at the Bailieston Project in central Victoria, Australia.
ECR Minerals plc has 100% ownership of Bailieston Project which is operated under its Australian owned subsidiary Mercator Gold Australia Pty Ltd (“MGA”).
Craig Brown, Chief Executive Officer of ECR Minerals plc, commented:
“Following the purchase of our second drilling rig, ECR’s strong funding position and growing local infrastructure ensures the Company can continue to maintain a series of aggressive drilling campaigns across the Victoria Goldfields. We have also made a small bit of history; ECR’s Australian subsidiary MGA completed the first ever diamond drillhole at Cherry Tree (HR4) and I am delighted to report a highly significant early result there from hole BCTDD003, both in terms of the geological setting and the gold mineralisation identified.”
“As the data continues to arrive, our senior geologists are working hard to ascertain structural geological interpretations. It is widely accepted that culminations in folded strata cut by shears and faults are favoured locations for deposition of thrust-reef style lode gold deposits, and with the cross-striking faults at this anticline filled with quartz-gold-bearing fluids in Holes BCTDD001, BCTDD002 and BCTDD003, there is encouraging early evidence. We are keen to see what the next raft of data will reveal so we can determine our next exploration steps.”
HIGHLIGHTS:
- Hole BCTDD001, the first ever diamond drilling work undertaken at HR4 has delineated an anticlinal hinge striking through the centre of the goldfield.
- Holes BCTDD002 and BCTDD003 were drilled to define cross striking faults. Drilling continues using orientated diamond drill-core for structural geological interpretation
- Hole BCTDD003 shows broad zones of low-grade gold mineralisation, often associated with anomalously high Arsenic (pXRF readings). The best intercept includes 0.5m @ 11.02 g/t Au from 98.85m depth.
PROGRESS AT CHERRY TREE
Hole BCTDD001, the first ever diamond drillhole completed at HR4 has delineated an anticlinal hinge striking through the centre of the goldfield. This anticline forms the geological backbone of mineralisation at Cherry Tree where cross-striking faults to this anticline have filled with quartz-gold-bearing fluids. Holes BCTDD002 and BCTDD003 were drilled to define such cross striking faults.
MGA continues to drill orientated diamond core to gain structural geological information, and recently drilled holes BCTDD004 and BCTDD005 were designed to test the interpreted position of multiple cross-striking faults. Geological logging of BCTDD004 and BCTDD005 is currently in progress.
Hole BCTDD003 shows broad zones of low-grade mineralisation, often associated with high Arsenic (pXRF readings). The best intercept includes 0.5m @ 11.02 g/t Au from 98.85m depth.
DETAILS OF ALL INTERCEPTS CONTAINING REPORTABLE LEVELS OF GOLD GREATER THAN 0.1 G/T – HOLES BCTDD001-003
| BCTDD001 | |||||||
| From
(m) |
To
(m) |
Grade Au g/t | Interval
(m) |
||||
| BCTDD001 | No significant intercepts 0.1 g/t Au | ||||||
| Results greater than 0.1 g/t Au | |||||||
| From
(m) |
To
(m) |
Grade Au g/t | Interval
(m) |
||||
| BCTDD002 | 65.6 | 66.1 | 1.08 | 0.5 | Associated with high Arsenic pXRF | ||
| BCTDD002 | 87 | 88 | 1.14 | 1 | Associated with high Arsenic pXRF | ||
| BCTDD002 | |||||||
| Other broad mineralised zones results noted | |||||||
| From
(m) |
To
(m) |
Grade Au g/t | Interval
(m) |
||||
| BCTDD002 | 68.3 | 69.3 | 0.11 | 1 | Broad LG zone associated with | ||
| BCTDD002 | 69.3 | 70.3 | 0.22 | 1 | higher arsenic. 4m @ 0.19 g/t Au | ||
| BCTDD002 | 70.3 | 71.3 | 0.2 | 1 | |||
| BCTDD002 | 71.3 | 72.3 | 0.24 | 1 | |||
| BCTDD003 | |||||||
| Results greater than 0.1 g/t Au | |||||||
| From
(m) |
To
(m) |
Grade Au g/t | Interval
(m) |
||||
| BCTDD003 | 74.9 | 75.5 | 1.11 | 0.6 | 0.6m @ 1.11 g/t Au | ||
| BCTDD003 | 79.7 | 80 | 1.01 | 0.3 | 0.3m @ 1.01 g/t Au | ||
| BCTDD003 | 98.85 | 99.35 | 11.02 | 0.5 | 0.5m @ 11.02 g/t Au | ||
REVIEW OF ANNOUNCEMENT BY QUALIFIED PERSON
This announcement has been reviewed by Adam Jones, a director of ECR Minerals plc. Adam Jones is a professional geologist and is a Member of the Australian Institute of Geoscientists (MAIG). He is a qualified person as that term is defined by the AIM Note for Mining, Oil and Gas Companies.
MARKET ABUSE REGULATIONS (EU) No. 596/2014
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (MAR). Upon the publication of this announcement via Regulatory Information Service (RIS), this inside information is now considered to be in the public domain.
OR FURTHER INFORMATION, PLEASE CONTACT:
| ECR Minerals plc | Tel: +44 (0)20 7929 1010 | ||
| David Tang, Non-Executive Chairman | |||
| Craig Brown, Director & CEO | |||
| Email: | |||
| Website: www.ecrminerals.com | |||
| WH Ireland Ltd | Tel: +44 (0)161 832 2174 | ||
| Nominated Adviser | |||
| SI Capital Ltd | Tel: +44 (0)1483 413500 | ||
| Broker |
Nick Emerson
|
Novum Securities Limited Broker Jon Belliss |
Tel: +44 (0)20 7399 9425 |
Brand Communications
Public Relations Tel: +44 (0) 7976 431608
Alan Green
NOTES AND FULL INTERCEPT SUMMARY
| BCTDD001 | ||||||
| From
(m) |
To
(m) |
Grade Au g/t | Interval
(m) |
|||
| BCTDD001 | No significant intercepts 0.1 g/t Au | |||||
| Results greater than 0.1 g/t Au | ||||||
| From
(m) |
To
(m) |
Grade Au g/t | Interval
(m) |
|||
| BCTDD002 | 65.6 | 66.1 | 1.08 | 0.5 | Associated with high Arsenic pXRF | |
| BCTDD002 | 87 | 88 | 1.14 | 1 | Associated with high Arsenic pXRF | |
| BCTDD002 | ||||||
| Other broad mineralised zones results noted | ||||||
| From
(m) |
To
(m) |
Grade Au g/t | Interval
(m) |
|||
| BCTDD002 | 68.3 | 69.3 | 0.11 | 1 | Broad LG zone associated with | |
| BCTDD002 | 69.3 | 70.3 | 0.22 | 1 | higher arsenic. 4m @ 0.19 g/t Au | |
| BCTDD002 | 70.3 | 71.3 | 0.2 | 1 | ||
| BCTDD002 | 71.3 | 72.3 | 0.24 | 1 | ||
| BCTDD003 | ||||||
| Results greater than 0.1 g/t Au | ||||||
| From
(m) |
To
(m) |
Grade Au g/t | Interval
(m) |
|||
| BCTDD003 | 74.9 | 75.5 | 1.11 | 0.6 | 0.6m @ 1.11 g/t Au | |
| BCTDD003 | 79.7 | 80 | 1.01 | 0.3 | 0.3m @ 1.01 g/t Au | |
| BCTDD003 | 98.85 | 99.35 | 11.02 | 0.5 | 0.5m @ 11.02 g/t Au | |
| Other broad mineralised zones results noted | ||||||
| From
(m) |
To
(m) |
Grade Au g/t | Interval
(m) |
|||
| BCTDD003 | 28 | 29 | 0.24 | 1 | 1.3m @ 0.24 g/t Au | |
| BCTDD003 | 29 | 29.3 | 0.23 | 0.3 | ||
| BCTDD003 | 31 | 32 | 0.22 | 1 | LG zone 20.3m @ 0.35 g/t | |
| BCTDD003 | 32 | 32.7 | 0.23 | 0.7 | ||
| BCTDD003 | 32.7 | 33.2 | 0.9 | 0.5 | ||
| BCTDD003 | 33.2 | 34.2 | 0.94 | 1 | ||
| BCTDD003 | 34.2 | 35.1 | 0.16 | 0.9 | ||
| BCTDD003 | 35.1 | 36.1 | 0.1 | 1 | ||
| BCTDD003 | 36.1 | 36.5 | 0.48 | 0.4 | ||
| BCTDD003 | 36.5 | 37.5 | 0.53 | 1 | ||
| BCTDD003 | 37.5 | 38.5 | 0.34 | 1 | ||
| BCTDD003 | 38.5 | 39 | 0.36 | 0.5 | ||
| BCTDD003 | 39 | 40 | 0.6 | 1 | ||
| BCTDD003 | 40 | 41 | 0.55 | 1 | ||
| BCTDD003 | 41 | 42 | 1.13 | 1 | ||
| BCTDD003 | 42 | 42.5 | 0.17 | 0.5 | ||
| BCTDD003 | 42.5 | 43.5 | 0.14 | 1 | ||
| BCTDD003 | 43.6 | 44.5 | 0.13 | 0.9 | ||
| BCTDD003 | 44.5 | 45.1 | 0.29 | 0.6 | ||
| BCTDD003 | 45.1 | 46.1 | 0.11 | 1 | ||
| BCTDD003 | 46.1 | 47.1 | 0.21 | 1 | ||
| BCTDD003 | 47.1 | 48.1 | 0.14 | 1 | ||
| BCTDD003 | 48.1 | 49.1 | 0.16 | 1 | ||
| BCTDD003 | 49.1 | 50.1 | 0.21 | 1 | ||
| BCTDD003 | 50.1 | 51.4 | 0.11 | 1.3 | ||
| BCTDD003 | 54.1 | 55.1 | 0.37 | 1 | LG zone 17m @ 0.21 g/t Au | |
| BCTDD003 | 55.1 | 56.1 | 0.23 | 1 | ||
| BCTDD003 | 56.1 | 57.1 | 0.1 | 1 | ||
| BCTDD003 | 57.1 | 58.1 | 0.1 | 1 | ||
| BCTDD003 | 58.6 | 59.6 | 0.28 | 1 | ||
| BCTDD003 | 59.6 | 59.9 | 0.48 | 0.3 | ||
| BCTDD003 | 59.9 | 60.4 | 0.5 | 0.5 | ||
| BCTDD003 | 60.4 | 60.9 | 0.16 | 0.5 | ||
| BCTDD003 | 60.9 | 61.4 | 0.41 | 0.5 | ||
| BCTDD003 | 61.4 | 62 | 0.74 | 0.6 | ||
| BCTDD003 | 62 | 62.5 | 0.14 | 0.5 | ||
| BCTDD003 | 62.5 | 63.2 | 0.33 | 0.7 | ||
| BCTDD003 | 63.2 | 63.8 | 0.15 | 0.6 | ||
| BCTDD003 | 63.8 | 64.5 | 0.13 | 0.7 | ||
| BCTDD003 | 64.5 | 65.3 | 0.1 | 0.8 | ||
| BCTDD003 | 65.3 | 66.1 | 0.12 | 0.8 | ||
| BCTDD003 | 66.1 | 66.7 | 0.13 | 0.6 | ||
| BCTDD003 | 66.7 | 67.4 | 0.13 | 0.7 | ||
| BCTDD003 | 67.4 | 68.4 | 0.15 | 1 | ||
| BCTDD003 | 68.4 | 69 | 0.16 | 0.6 | ||
| BCTDD003 | 69 | 70 | 0.1 | 1 | ||
| BCTDD003 | 70 | 70.6 | 0.11 | 0.6 | ||
| BCTDD003 | 70.6 | 71.6 | 0.15 | 1 | ||
| BCTDD003 | 89.6 | 89.8 | 0.82 | 0.2 | 11m @ 1.14 g/t Au | |
| BCTDD003 | 89.8 | 90.05 | 1.4 | 0.25 | (incl 0.5m @ 11.02 g/t Au from 98.85m) | |
| BCTDD003 | 90.05 | 90.9 | 0.54 | 0.85 | ||
| BCTDD003 | 90.9 | 91.9 | 0.31 | 1 | ||
| BCTDD003 | 91.9 | 92.4 | 1.17 | 0.5 | ||
| BCTDD003 | 92.4 | 93.4 | 0.1 | 1 | ||
| BCTDD003 | 93.4 | 94.4 | 0.1 | 1 | ||
| BCTDD003 | 94.4 | 94.9 | 1.65 | 0.5 | ||
| BCTDD003 | 94.9 | 95.4 | 0.48 | 0.5 | ||
| BCTDD003 | 95.4 | 96.4 | 0.34 | 1 | ||
| BCTDD003 | 96.4 | 96.9 | 0.26 | 0.5 | ||
| BCTDD003 | 96.9 | 97.8 | 0.15 | 0.9 | ||
| BCTDD003 | 97.8 | 98.4 | 0.1 | 0.6 | ||
| BCTDD003 | 98.4 | 98.85 | 0.12 | 0.45 | ||
| BCTDD003 | 98.85 | 99.35 | 11.02 | 0.5 | ||
| BCTDD003 | 99.35 | 100 | 0.27 | 0.65 | ||
| BCTDD003 | 100 | 100.6 | 0.15 | 0.6 | ||
ABOUT ECR MINERALS PLC
ECR Minerals is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd (“MGA”) has 100% ownership of the Bailieston and Creswick gold projects in central Victoria, Australia, has eight licence applications outstanding including two licence applications lodged in eastern Victoria. (Tambo gold project). MGA is currently drilling at both the Bailieston and Creswick projects and has an experienced exploration team with significant local knowledge in the Victoria Goldfields and wider region.https://mercatorgold.com.au
ECR also owns 100% of an Australian subsidiary LUX Exploration Pty Ltd (“LUX”) which has three licence applications covering 900 km2 covering a relatively unexplored area in Queensland, Australia. https://luxexploration.com
Following the sale of the Avoca, Moormbool and Timor gold projects in Victoria, Australia to Fosterville South Exploration Ltd (TSX-V: FSX) and the subsequent spin-out of the Avoca and Timor projects to Leviathan Gold Ltd (TSX-V: LVX), Mercator Gold Australia Pty Limited has the right to receive up to A$2 million in payments subject to future resource estimation or production from projects sold to Fosterville South Exploration Limited.
ECR has earned a 25% interest in the Danglay gold project; an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines, which has a 43-101 compliant resource. ECR also holds a royalty on the SLM gold project in La Rioja Province, Argentina and can potentially receive up to US$2.7 million in aggregate across all licences.