Home » Posts tagged 'Adam Jones' (Page 5)
Tag Archives: Adam Jones
ECR Minerals #ECR – Potential for Rare Earth Minerals at the Lolworth Range Project, Queensland
ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce that investigations into the previous 2022 field season stream geochemistry results of the Lolworth Project, Queensland are showing potential for the presence of rare earth elements within the project area.
ECR Minerals plc has 100% ownership of three exploration tenements (EPM27901, EPM27902 and EPM27903), which covers the Lolworth Range, located 120km west of the famous gold district of Charters Towers. The project is being explored under ECR’s Australian wholly owned subsidiary Lux Exploration Pty Ltd (“LUX”).
HIGHLIGHTS
- A selected number of pan concentrate stream sediment samples from the 2022 field season are highly anomalous for Rare Earth Elements (REE), including Cesium (Ce), Lanthalum (La) and Yttrium (Y).
- The top ten values include anomaly readings such as (Ce greater than 6000 ppm (0.6%), (La greater than 2760 ppm) and (Y greater than 530 ppm)
- The top anomalous values of Ce, La and Y spatially correlate to a north east trend across the project with some of the best values coinciding with previously mapped intrusive centres.
- The Lolworth Project is showing a diverse range of exploration targets for Gold, Niobium-Tantalum and REE.
- Field work following up these targets is well underway.
CEO Andrew Haythorpe commented: “ECR’s Lolworth project is continuing to exceed our early expectations, and along with Gold, Niobium and Tantalum, the presence of key Rare Earth Elements adds yet another dimension to the scope and diversity of mineralisation in this region.”
“The mounting anecdotal evidence and volume of positive results continues to support the Board’s view that Lolworth could be host to significant Gold, Niobium, Tantalum and REE discoveries. I look forward to reporting the sample results from the latest fieldwork back to the markets as soon as possible”
(Figure 1) Map of the Lolworth Project showing the distribution of Ce, Y and La from pan concentrate sampling to date (May 2023) can be found here:
Figure 1: https://www.ecrminerals.com/images/2023/Fig1_REE_Potential_230524.png
RARE EARTH ELEMENTS
REE’s (Rare Earth Elements) are a group of 17 elements from the periodic table. While they are abundant within the Earth’s crust, discoveries of sufficient concentration of REE’s s to constitute an economically viable deposit are rare, with few currently mined sources in the western world. The most abundant REEs include Cerium (Ce), Neodymium (Nd) and Lanthanum (La). REEs, and these are becoming increasingly sought after as a result of their increased use in ‘green’ related technologies such as batteries, magnets in electrical motors, catalytic convertors and aircraft alloys.
REE RESULTS IN STREAM SAMPLING TO DATE
All pan concentrate stream sampling to date at Lolworth has been analysed using a four-acid digest that is aggressive in digesting most elements. A total of 33 elements including Gold have been analysed since sampling began in mid-2022, and to date ECR has detected Gold, Niobium and Tantalum from within the streams draining the Lolworth Range. Exceptional concentrations of Niobium and Tantalum have been recorded in streams draining a 10km long ridgeline just north of Gorge Creek. Previous announcements regarding these results can be found in ECR’s RNS from February 1 2023 here, and RNS from April 3 2023 here
Although the Company has not specifically analysed all stream samples for REEs, Cesium (Ce), Lanthalum (La) and Yttrium (Y) have been included as part of the 33 elements analysed. Results to date show high values of Ce, La and Y, all of which have been tabulated in Table One below. In summary, ten samples are greater than 0.6% in (Ce), over ten samples are greater than 2760 ppm in (La) and over ten samples are greater than 530 ppm in (Y).
REE CORRELATION BETWEEN NB-TA AND MAPPED INTRUSIVE CENTRES
It is important to note that a number of the high Ce, La and Y results spatially correlate and group together well (see Figure One above). The highest concentrations of these REEs trend in a north-east pattern across the project area, and while the reason for this geochemical trend has yet to be determined, it is hoped that the on-site geological mapping and sampling currently underway in the area will be able to provide some answers. Niobium and Tantalum (Nb-Ta) anomalies highlighted in previous announcements also correlate to some of the best REE results within the same region.
Although the Geological Survey of Queensland previously identified two intrusive areas of interest within the tenements (see Figure One above), the Lolworth Project area has not yet been mapped in detail. While the boundaries of these intrusives and their mineralogy has yet to be established, the Board is greatly encouraged by the fact that the highest concentrations of Niobium and Tantalum (including some of the REEs) are associated with these mapped intrusives. In particular a large intrusive identified by historic aerial mapping located in the extreme south-east of tenement EPM 27903 has been prioritised for exploration by the Board, and a number of sampling campaigns have been planned within this area to identify its potential for Gold, Nb-Ta and REEs.
NEXT STEPS
Pan concentrate stream sampling has been well underway for the last two weeks. Numerous follow-up samples have been taken around and to the north of the 10km Nb-Ta anomalous ridgeline, and these along with a number of additional soil samples scheduled for collection from the best anomalous ridgelines will be submitted for laboratory analysis. ECR’s Technical Director Adam Jones will be on the ground for the next two weeks to map and sample the areas showing the best anomalies to date. The Board look forward to reporting these results back to shareholders in the coming months.
REVIEW OF ANNOUNCEMENT BY QUALIFIED PERSON
This announcement has been reviewed by Adam Jones, Technical Director of Exploration at 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.
FOR FURTHER INFORMATION, PLEASE CONTACT:
| ECR Minerals plc | Tel: +44 (0) 20 7929 1010 | |||
| David Tang, Non-Executive Chairman
Andrew Haythorpe, CEO |
||||
| Email: | ||||
| Website: www.ecrminerals.com | ||||
| WH Ireland Ltd | Tel: +44 (0) 207 220 1666 | |||
| Nominated Adviser
Katy Mitchell / Andrew de Andrade |
||||
| SI Capital Ltd | Tel: +44 (0) 1483 413500 | |||
| Broker | ||||
| Nick Emerson | ||||
| Novum Securities Limited | Tel: +44 (0) 20 7399 9425 | |||
| Broker
Jon Belliss |
||||
| Brand Communications | Tel: +44 (0) 7976 431608 | |||
| Public & Investor Relations | ||||
| Alan Green | ||||
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 six licence applications outstanding which includes one licence application lodged in eastern Victoria. (Tambo gold project). MGA is currently drilling at the Bailieston Blue Moon Project (EL5433) and undertaking geochemical exploration on the Creswick (EL6148) project and has an experienced exploration team with significant local knowledge in the Victoria Goldfields and wider region.
ECR also owns 100% of an Australian subsidiary LUX Exploration Pty Ltd (“LUX”) which has three approved exploration permits covering 946 km2 over a relatively unexplored area in Queensland, Australia.
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 holds a 90% 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
ECR Minerals #ECR – Victoria Exploration and Queensland Project Updates
ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, announces updated results from gold exploration activities within licences EL006184 (Creswick), EL5433 (Blue Moon) and EL7484 (Tambo North), Victoria, Australia.
ECR Minerals plc has 100% ownership of all three exploration licences. ECR Minerals also holds 100% ownership of 6 other active exploration tenements along with 2 other exploration tenements in application with the State of Victoria, Australia.
ECR CEO Andrew Haythorpe commented: “While the Board are pleased to have finally received assays for our drill programs in Victoria, the latest results have not been as encouraging as we would have hoped.”
“On taking up the position as CEO last year, I have worked with management to ensure that low-cost work programmes, including soil geochemistry and mapping, have and will continue to be used to rank prospects prior to drilling. This approach will be applied to future campaigns in both Queensland and Victoria.”
‘’In contrast to the Company’s historical projects in Victoria, we believe the prospects identified for drilling and further mapping and sampling in Queensland are of superior width and consistency.”
“The outcome from work undertaken in Victoria over the coming months will be weighed against the results we anticipate seeing in Queensland and I look forward to reporting back on progress in the coming days and weeks.’’
HIGHLIGHTS
- Results from the recent western extension drilling at Blue Moon, Bailieston from two drill holes. Best results include 9m @ 0.56 g/t Au from 83.2m in hole BBMDD012.
- Drilling results from four diamond holes at Brewery Lane Creswick have been received which include 1m @ 4.29 g/t Au from 94.8m in hole CSD016.
- On-ground work within Eastern Victoria on EL7484 (Tambo) has commenced. The Board is encouraged by initial investigations.
- Exploration strategy transitions to North Queensland, Australia as field season commences.
DRILL RESULTS, BLUE MOON (BAILIESTON)
The most recent results from diamond drilling at the Blue Moon Prospect, Bailieston included the excellent result of 0.5m @ 17.77 g/t Au from 84.9m in hole BBMDD010 (see RNS from February 24 2023 here). A further two holes have now been drilled (BBMDD012 and BBMDD013) targeting the potential down plunge of the high-grade result in BBMDD010 and following the historic drill hole from the 2019 RC drill program. Unfortunately, the grade trend did not expand at depth, but still generated an excellent results of 9m @ 0.56 g/t Au from 83.2m drilled depth in hole BBMDD012. All reportable drill results from BBMDD012 and BBMDD013 are tabulated in Table 1 below. As the grades and widths of the Blue Moon Prospect within the drilled area downgraded the potential of an immediate commercial discovery, the drill rig was moved to Brewery Lane, Creswick.
CRESWICK (BREWERY LANE) DRILLING PROGRAM
A total of 4 drill holes were completed into the Slades and Spring Hill Reefs (lodes). The best results from this drilling campaign include 1m @ 4.29 g/t Au from 94.8m in hole CSD016 plus a full list of reportable gold intercepts from the 4 holes in Table 2 below. There is a considerable amount of additional work required to establish mineral resources at Creswick, including drilling at Mills Reef, Kuboid Hill and other prospects where soil sampling and rock chipping have shown the presence of gold (see RNS from April 17 2023 here, and RNS from May 2 2023 here). However, with global markets currently reflecting a lack of appetite for long-term investment into junior gold exploration companies the Board has decided to halt exploration drilling at Brewery Lane, Creswick for the remainder of this year and focus instead on exploration at ECR’s Queensland projects.
GOLD EXPLORATION IN EASTERN VICTORIA (TAMBO)
ECR has two tenements (EL007484 and EL007486) in the Tambo River region residing in the eastern part of Victoria state. EL007484 is currently active and license EL007486 is in the final stages of application. The field team have recently gained access to historical gold workings within EL007484 on private land, and with the landowner’s support for gold exploration a programme of rock chipping and pXRF mapping within quartz veins from underground exposures is now on-going. The field team are reporting good visual findings with plenty of sulphides seen within quartz veins. Initial results are expected shortly.
NEXT STEPS – EXPLORATION TRANSITION TO NORTH QUEENSLAND
Exploration has commenced at the Lolworth Project in North Queensland. The results from last year’s field season revealed numerous Gold, Niobium and Tantalum anomalies within many of the drainage lines within the Lolworth Range (see RNS from March 26 2023 here, and RNS from April 3 2023 here). Although the project is in the early stages of exploration, initial findings are already showing a larger footprint of diverse mineralisation and the potential to identify a commercial resource of not only Gold, but also for critical minerals. Using our now established process of detailed mapping and sampling, the Board plans to identify a number of drill targets at Lolworth by the end of this year.
The field team will also commence work at the Hurricane Project, also in North Queensland (see Hurricane project detail in RNS from October 27 2022 here). Work undertaken by previous explorers identified a number of quartz-breccia outcrops of varying widths carrying a broad range of Gold and Antimony values, (antimony is a valuable critical mineral). A 50km2 LIDAR aerial mapping survey has just been completed by ECR across the areas containing the quartz-breccia outcrops, which to date have not been drilled. LIDAR can assess the ground through the vegetation and allows the field team to quickly target and test breccia outcrops. ECR Geologists will be on the ground at Hurricane from June 2023 and the Board will report on progress in due course. Subject to satisfactory progress, the first drilling at Hurricane is scheduled for the second half of 2023.
REVIEW OF ANNOUNCEMENT BY QUALIFIED PERSON
This announcement has been reviewed by Adam Jones, Technical Director of Exploration at 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.
FOR FURTHER INFORMATION, PLEASE CONTACT:
| ECR Minerals plc | Tel: +44 (0) 20 7929 1010 | |||
| David Tang, Non-Executive Chairman
Andrew Haythorpe, CEO |
||||
| Email: | ||||
| Website: www.ecrminerals.com | ||||
| WH Ireland Ltd | Tel: +44 (0) 207 220 1666 | |||
| Nominated Adviser
Katy Mitchell / Andrew de Andrade |
||||
| SI Capital Ltd | Tel: +44 (0) 1483 413500 | |||
| Broker | ||||
| Nick Emerson | ||||
| Novum Securities Limited | Tel: +44 (0) 20 7399 9425 | |||
| Broker
Jon Belliss |
||||
| Brand Communications | Tel: +44 (0) 7976 431608 | |||
| Public & Investor Relations | ||||
| Alan Green
|
||||
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 six licence applications outstanding which includes one licence application lodged in eastern Victoria. (Tambo gold project). MGA is currently drilling at the Bailieston Blue Moon Project (EL5433) and undertaking geochemical exploration on the Creswick (EL6148) project and has an experienced exploration team with significant local knowledge in the Victoria Goldfields and wider region.
ECR also owns 100% of an Australian subsidiary LUX Exploration Pty Ltd (“LUX”) which has three approved exploration permits covering 946 km2 over a relatively unexplored area in Queensland, Australia.
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 holds a 90% 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.
APPENDIX 1
Table 1. Drill intercepts containing reportable levels of gold (> 0.1 g/t Au) for the remaining drillholes at the Blue Moon Prospect, Bailieston, Victoria
| Drillhole | From (m) | To (m) | Interval (m) | Grade (g/t Au) |
| BBMDD012 | 83.2 | 84.2 | 1 | 0.18 |
| BBMDD012 | 84.2 | 85.2 | 1 | 0.12 |
| BBMDD012 | 85.2 | 86.2 | 1 | 0.16 |
| BBMDD012 | 86.2 | 86.8 | 0.6 | 0.32 |
| BBMDD012 | 86.8 | 87.4 | 0.6 | 0.66 |
| BBMDD012 | 87.4 | 88.4 | 1 | 0.49 |
| BBMDD012 | 88.4 | 89.4 | 1 | 0.97 |
| BBMDD012 | 89.4 | 90.05 | 0.65 | 0.31 |
| BBMDD012 | 90.05 | 90.85 | 0.8 | 0.18 |
| BBMDD012 | 90.85 | 91.2 | 0.35 | 0.12 |
| BBMDD012 | 91.2 | 91.65 | 0.45 | 0.14 |
| BBMDD012 | 91.95 | 92.25 | 0.3 | 1.26 |
| BBMDD012 | 93.25 | 94.35 | 1.1 | 0.28 |
| BBMDD012 | 94.35 | 95.2 | 0.85 | 0.11 |
| BBMDD012 | 100 | 100.4 | 0.4 | 0.11 |
| BBMDD012 | 100.4 | 100.8 | 0.4 | 0.12 |
| BBMDD012 | 102.2 | 102.95 | 0.75 | 0.15 |
| BBMDD013 | 70.8 | 71.5 | 0.7 | 0.13 |
| BBMDD013 | 71.5 | 72.5 | 1 | 0.3 |
| BBMDD013 | 73.5 | 74.1 | 0.6 | 0.15 |
| BBMDD013 | 74.7 | 75.4 | 0.7 | 0.15 |
| BBMDD013 | 76.1 | 77 | 0.9 | 0.13 |
| BBMDD013 | 77.2 | 78 | 0.8 | 0.16 |
| BBMDD013 | 78 | 79 | 1 | 0.15 |
| BBMDD013 | 79.95 | 80.2 | 0.25 | 0.15 |
| BBMDD013 | 81.7 | 82.7 | 1 | 0.23 |
| BBMDD013 | 82.7 | 83.7 | 1 | 0.12 |
| BBMDD013 | 83.7 | 84.4 | 0.7 | 1.6 |
| BBMDD013 | 85.4 | 86.4 | 1 | 0.27 |
Table 2. Drill intercepts containing reportable levels of gold (> 0.1 g/t Au) for the Brewery Lane diamond drilling, Creswick, Victoria
| Drillhole | From (m) | To (m) | Interval (m) | Grade (g/t Au) |
| CSD015 | 6.8 | 7.2 | 0.4 | 0.15 |
| CSD015 | 7.2 | 7.5 | 0.3 | 0.14 |
| CSD015 | 26.15 | 27.15 | 1 | 0.13 |
| CSD015 | 27.5 | 27.95 | 0.45 | 0.12 |
| CSD015 | 27.95 | 28.15 | 0.2 | 0.13 |
| CSD015 | 28.15 | 28.3 | 0.15 | 0.15 |
| CSD015 | 29.65 | 29.95 | 0.3 | 0.27 |
| CSD015 | 29.95 | 30.3 | 0.35 | 0.15 |
| CSD015 | 36.7 | 37.05 | 0.35 | 0.14 |
| CSD015 | 40.55 | 40.8 | 0.25 | 0.11 |
| CSD016 | 75.85 | 76.1 | 0.25 | 0.13 |
| CSD016 | 94.8 | 95.8 | 1 | 4.29 |
| CSD017 | 14.7 | 15 | 0.3 | 0.14 |
| CSD017 | 28 | 28.3 | 0.3 | 0.11 |
| CSD017 | 34.5 | 34.7 | 0.2 | 0.12 |
| CSD017 | 68.9 | 69.2 | 0.3 | 0.34 |
| CSD017 | 87.9 | 88.7 | 0.8 | 0.67 |
| CSD017 | 101.55 | 101.85 | 0.3 | 0.8 |
| CSD017 | 105.4 | 106.15 | 0.75 | 0.24 |
| CSD018 | 3.1 | 3.3 | 0.2 | 0.25 |
| CSD018 | 11.4 | 12 | 0.6 | 0.39 |
| CSD018 | 12.5 | 13 | 0.5 | 0.26 |
| CSD018 | 13 | 13.5 | 0.5 | 0.33 |
| CSD018 | 20.9 | 21.6 | 0.7 | 0.22 |
| CSD018 | 23.6 | 24.2 | 0.6 | 0.63 |
| CSD018 | 38.4 | 39.4 | 1 | 0.12 |
| CSD018 | 46.8 | 47 | 0.2 | 0.13 |
| CSD018 | 73.8 | 74.2 | 0.4 | 0.15 |
| CSD018 | 89 | 89.4 | 0.4 | 0.12 |
| CSD018 | 97.1 | 97.4 | 0.3 | 0.16 |
| CSD018 | 100.6 | 101.8 | 1.2 | 0.13 |
| CSD018 | 101.8 | 102.1 | 0.3 | 0.13 |
| CSD018 | 118 | 118.75 | 0.75 | 0.18 |
| CSD018 | 118.75 | 119.1 | 0.35 | 1.3 |
| CSD018 | 119.1 | 120 | 0.9 | 0.11 |
| CSD018 | 120 | 120.5 | 0.5 | 0.19 |
| CSD018 | 121.6 | 122 | 0.4 | 0.11 |
| CSD018 | 122 | 123 | 1 | 0.18 |
| CSD018 | 127 | 128 | 1 | 0.14 |
ECR Minerals #ECR – 2023 Exploration Season Commences at the Lolworth Range Project, Queensland
ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce that exploration has begun for the 2023 field season at the Lolworth Range project, North Queensland, Australia, with follow-up exploration of identified Gold and Niobium-Tantalum targets already underway.
ECR Minerals plc has 100% ownership of three exploration tenements (EPM27901, EPM27902 and EPM27903), which covers the Lolworth Range, located 120km west of the famous gold district of Charters Towers. The project is being explored by ECR’s Australian wholly owned subsidiary Lux Exploration Pty Ltd (“LUX”).
HIGHLIGHTS
- Exploration for 2023 is targeting Gold and Niobium-Tantalum anomalies found during last year’s field season.
- Planned soil grids to be undertaken across a 2km x 4km potential pegmatite-dyke intrusive centre. Stream drainages leading from this area contain high concentrates of Niobium-Tantalum mineralisation.
- Previously identified anomalous gold (including visible gold) within streams that are draining from regions of interpreted major fault lineaments represent major targets for the 2023 field season.
CEO Andrew Haythorpe commented: “Both Adam Jones and myself have frequently expressed our excitement at the sheer scale and scope of ECR’s Lolworth project, and its proximity to major historic mines in the area. Our 2022 exploration campaign produced high quality results right from the start, with numerous Gold, Lithium, Niobium and Tantalum samples helping us to zero in on the areas of greatest potential. Our Board and geo team firmly believe that the anecdotal evidence and volume of positive results point to the possibility that the region could host a genuine Gold, Niobium and Tantalum discovery.”
“I am keen to see what the 2023 Lolworth campaign yields in the first few weeks, and I look forward to reporting back to our shareholders.”
Plan figures relating to this announcement can be viewed at the following links:
(Figure 1) Map of the Lolworth Project tenements showing the pan concentrate gold results from exploration in 2022. Also showing the planned exploration targets for 2023;
Figure 1: https://www.ecrminerals.com/images/2023/Fig1_LOL_Au.png
(Figure 2) Map of planned soil sampling grids over the Niobium-Tantalum ridgeline;
Figure 2: https://www.ecrminerals.com/images/2023/Fig2_LOL_Nb-Soilgrids.png
OVERVIEW OF THE 2022 EXPLORATION SEASON
ECR completed its first stage of stream sediment pan concentrate sampling between August and December 2022. A total of 343 samples were taken during this period before the programme was halted due to the incoming tropical wet season. The samples were tested at the end of 2022, revealing Gold results up to 1395 ppm, which correlated well with the visual gold seen in pan concentrates from numerous stream catchments within the mountainous terrain (see March 23 RNS here).
All samples were analysed using a near total digest of the sample which allowed the detection of other critical elements. From these samples, the presence of Niobium (Nb) and Tantalum (Ta) was detected in high concentrations from streams draining from a 10km north-south striking ridgeline within the Oak Creek region in license area EPM29702. Two notable intrusion centres were identified from the sparse governmental geological mapping that exists for this area. These central locations are noted to contain pegmatitic dykes, which are widely accepted as a hard rock host to critical minerals such as Lithium, Niobium and Tantalum. The location of these intrusions along with an overview of the gold values identified during the sampling program during 2022 can be viewed in Figure One above.
PRIORITY EXPLORATION TARGETS FOR 2023
The field team have established that the highest stream concentrations of Niobium and Tantalum originate from a central ridge at the headwaters of Oak Creek. Given that the base geological map for this area shows that pegmatitic dykes are likely to exist, ECR’s technical team have designed a number of soil grids at nominal 50m x 100m spacing along the most prospective ridgeline to detect the presence of Nb-Ta. The Board will also conduct on-ground geological mapping and rock chipping from any prominent outcrops of interest and will then verify if such dykes are present and if so, the values within them. The area of interest covers an area approximately 2km x 4km and is shown in Figure Two above. Although the streams draining this particular area have proved to contain the highest values of Nb and Ta, the field team have also identified other streams showing Gold, Niobium and Tantalum in the immediate vicinity.
The field team also intends to visit and sample an intrusive area similar to the Nb-Ta ridgeline identified in the extreme south-east corner of EPM27903 (see Figure One above). The Board has also identified at least four other drainage systems containing Gold at Flaggy Creek, Reedy Creek, Gorge Creek and an as yet unnamed area (see Figure One above). Visible gold was often seen from sampling within these areas, further validating the laboratory results. Soil grids along with geological mapping and rock chipping work within these catchments has also been prioritised for this year.
NEXT STEPS
The Board believes that the anecdotal evidence and volume of results confirming mineralisation at Lolworth gives rise to the possibility that the region could host a genuine Gold, Niobium and Tantalum discovery. The macro backdrop provides a raft of compelling evidence pointing to an increase in demand for new sources of Gold and critical minerals. The Lolworth Project is sited within a geological district known for a wide range of mineralisation styles, from narrow vein hosted to large intrusion style deposits. Numerous famous historic mines are dotted across this part of North Queensland, including Kidston, Mount Leyshon and Charters Towers. Lolworth Range offers all the right ingredients and geological features to host a potential major discovery, i.e. the right rock types (dykes and intrusions), under explored terrain, positive initial stream sampling results and a determined technical team. The Board and the geological team are very much looking forward to taking the project to the next stage, and we look forward to reporting back to shareholders as soon as possible.
REVIEW OF ANNOUNCEMENT BY QUALIFIED PERSON
This announcement has been reviewed by Adam Jones, Technical Director of Exploration at 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.
FOR FURTHER INFORMATION, PLEASE CONTACT:
| ECR Minerals plc | Tel: +44 (0) 20 7929 1010 | |||
| David Tang, Non-Executive Chairman
Andrew Haythorpe, CEO |
||||
| Email: | ||||
| Website: www.ecrminerals.com | ||||
| WH Ireland Ltd | Tel: +44 (0) 207 220 1666 | |||
| Nominated Adviser
Katy Mitchell / Andrew de Andrade |
||||
| SI Capital Ltd | Tel: +44 (0) 1483 413500 | |||
| Broker | ||||
| Nick Emerson | ||||
| Novum Securities Limited | Tel: +44 (0) 20 7399 9425 | |||
| Broker
Jon Belliss |
||||
| Brand Communications | Tel: +44 (0) 7976 431608 | |||
| Public & Investor Relations | ||||
| Alan Green | ||||
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 six licence applications outstanding which includes one licence application lodged in eastern Victoria. (Tambo gold project). MGA is currently drilling at the Bailieston Blue Moon Project (EL5433) and undertaking geochemical exploration on the Creswick (EL6148) project and has an experienced exploration team with significant local knowledge in the Victoria Goldfields and wider region.
ECR also owns 100% of an Australian subsidiary LUX Exploration Pty Ltd (“LUX”) which has three approved exploration permits covering 946 km2 over a relatively unexplored area in Queensland, Australia.
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 holds a 90% 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.
ECR Minerals #ECR – Further Gold Results from Creswick Soil Sampling Campaign
ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce the completed soil sampling results from the prospects known as Mills Reef and Kuboid Hill which are within the Creswick Project, Victoria, Australia.
ECR Minerals plc has 100% ownership of the Creswick Project which includes exploration tenements EL006907, EL006713 and EL006184. All licences reside north to north-east of the City of Ballarat, Victoria, Australia. The Company is exploring a number of parallel-gold mineralisation trends that are believed to extend 10km NE from the Nerrina Goldfields at Ballarat.
ECR CEO Andrew Haythorpe commented: “I am pleased to report further positive results from our Creswick sampling campaign, with multiple gold anomalies now very evident across our Creswick tenement package. The drilling campaign at Creswick will soon be complete, and the Board are keen to see the assay results from the campaign, and also how those results correlate with the soil sampling data.”
“Operationally, we now shift our focus to our Queensland assets. With access to Lolworth, Hurricane and Blue Mountain projects now at an optimum, the time is right to focus our resources there until the wet season recommences in December. Your Board are excited by the range of opportunities and possibilities presented by our Queensland assets, and I look forward to reporting on progress there as soon as possible.”
HIGHLIGHTS
- Complete Results from soils surrounding the Mills Reef Prospect have now been received. Highest result being 3.53 ppm Au (3530 ppb).
- Complete Gold Results have also been received for the prospect known as Kuboid Hill within EL006173. Best result being 2.53 ppm Au (2530 ppb).
- Additional pXRF analysis of soils from the Quartz Hill prospect has also been completed. Arsenic values as a pathfinder have outlined several possible gold shoots. Selected samples are currently being analysed for Gold values at the laboratory.
Plans showing the latest Gold and Arsenic results from soil sampling can be found here:
Figure 1: Overview map of prospects referred to in this announcement:
https://www.ecrminerals.com/images/2023/Fig1_Locations_230502.png
Figure 2: Final gold results from soil sampling within the Mills Reef area:
https://www.ecrminerals.com/images/2023/Fig2_Mills Reef_230502.png
Figure 3: Final gold results from soil sampling at the Kuboid Hill prospect:
https://www.ecrminerals.com/images/2023/Fig3_Kuboid_Hill_230502.png
Figure 4: Plan showing Arsenic soil geochemistry results (gold pathfinder element) for the Quartz Hill prospect (EL006184):
https://www.ecrminerals.com/images/2023/Fig4_Quartz_Hill_230502.png
OVERVIEW OF SOIL SAMPLING PROGRAMS
ECR previously announced initial results from a recently completed soil sampling program at several prospects within its Creswick Project tenements (see RNS from April 17 2023 here). The use of LIDAR imagery to locate the extent of historic gold workings throughout the three Creswick exploration tenements (EL006184, EL006713 and EL006907) has assisted our geology team in identifying several likely looking hillslopes that could potentially have shed gold from several possible sources. To date, soil sampling has been completed at the prospects known as Blue Gum, Jackass Gully, Mills Reef and Bush Inn Road. All of these prospects lie along a mineralised corridor hosted known as the Dimocks Main Shale (DMS). Sampling has also been completed on parallel mineralised corridors that lie within the western half of the project area. Prospects here include Kuboid Hill, Greens Lode and Quartz Hill, shown in Figure One above. This is the first time such a detailed exploration campaign has been conducted across these project areas, and our geology team anticipate the net result of the work will be to establish a series of smarter locations for future drill plans.
FINAL GOLD RESULTS FROM SOIL SAMPLING AT MILLS REEF AND KUBOID HILL.
ECR has now received the completed gold analysis for soil sampling at the Mills Reef and Kuboid Hill prospects which lie within tenement EL006713 currently in the early stages of exploration. Previous rock chips from both Mills Reef and Kuboid Hill showed early promise.
Sampling from underground exposures within historic workings at Mills Reef produced results up to 0.25m @ 441.23 g/t Au (see RNS from April 17 2023 here), and in total the field team have collected 407 soil samples across hillslopes surrounding and along strike. The results have identified six gold anomalies within the area (see Figure Two above). It is no surprise to discover that Anomalies 2 and 3 lie within an area of previous historic mining disturbance, with the top of the lode originally discovered during the gold rush era of the 1870’s. The best result of (3.53 ppm Gold) is from the northern extremity of the soil grid marked as ‘Anomaly 1’, where there is no historic mining activity and which the geology team believe may represent the surface expression of another gold shoot near surface. (Shoot is old mining jargon for the payable portion of a lode). Anomaly 6 was identified from previously announced initial sample results, and is the only part of the Mills Reef East lode that contained gold values at surface. Mapping of geological veining associated with the previously announced high grade rock chips from the Mills Reef East Adit show a northerly plunge to this system, and if this trend were projected to the south, the geology team believe it would come to the surface in the vicinity of Anomaly 6.
Kuboid Hill is located on a parallel mineralised system of lodes that lie 5km to the west of Mills Reef. Whilst still an early stage exploration activity, gold results from the soil sampling are very encouraging with at least 48 samples reporting above 100 ppb Au (0.1 ppm). Three patches of anomalous gold have been identified over the sampled strike of 250m (see Figure Three above).
Both Mills Reef and Kuboid Hill have good access tracks that will benefit future exploration programs.
QUARTZ HILL
The field team has been testing along strike at mineralised corridors in the far north of tenement EL006184. Many of the creeks within this region have historically produced large amounts of alluvial gold, including nuggets. A number of the historical alluvial workings head up to a range known as Quartz Hill. There are two historical adits driven under the hill that allow access for future sampling of in-situ quartz veining. Soil sampling along a 500m strike of this hill has been completed, with initial pXRF analysis revealing reasonably high readings for the gold pathfinder element Arsenic (see Figure Four above). These samples have been submitted for further analysis and to identify any gold content.
FUTURE EXPLORATION
The Board has allocated a small budget to complete the final gold analysis for each of these soil programs, and it is hoped that the results will identify additional drill targets for the future. Our sampling results to date already show multiple gold anomalies throughout the whole Creswick tenement package.
Initial groundwork exploration at Creswick will remain an on-going focus throughout 2023, especially regarding other mineralised corridors that are now being identified on the newer tenements EL006713 and EL006907.
The Board has decided that remainder of the year will be primarily focussed on ECR’s North Queensland assets, including the Lolworth, Hurricane and Blue Mountain Projects. Ground conditions and access to these projects is now at its optimum, and as such the Board has decided to take full advantage of the conditions before the onset of the next wet season in December.
REVIEW OF ANNOUNCEMENT BY QUALIFIED PERSON
This announcement has been reviewed by Adam Jones, Technical Director of Exploration at 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.
FOR FURTHER INFORMATION, PLEASE CONTACT:
| ECR Minerals plc | Tel: +44 (0) 20 7929 1010 | |||
| David Tang, Non-Executive Chairman
Andrew Haythorpe, CEO |
||||
| Email: | ||||
| Website: www.ecrminerals.com | ||||
| WH Ireland Ltd | Tel: +44 (0) 207 220 1666 | |||
| Nominated Adviser
Katy Mitchell / Andrew de Andrade |
||||
| SI Capital Ltd | Tel: +44 (0) 1483 413500 | |||
| Broker | ||||
| Nick Emerson | ||||
| Novum Securities Limited | Tel: +44 (0) 20 7399 9425 | |||
| Broker
Jon Belliss |
||||
| Brand Communications | Tel: +44 (0) 7976 431608 | |||
| Public & Investor Relations | ||||
| Alan Green
|
||||
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 six licence applications outstanding which includes one licence application lodged in eastern Victoria. (Tambo gold project). MGA is currently drilling at the Bailieston Blue Moon Project (EL5433) and undertaking geochemical exploration on the Creswick (EL6148) project and has an experienced exploration team with significant local knowledge in the Victoria Goldfields and wider region.
ECR also owns 100% of an Australian subsidiary LUX Exploration Pty Ltd (“LUX”) which has three approved exploration permits covering 946 km2 over a relatively unexplored area in Queensland, Australia.
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 holds a 90% 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.
ECR Minerals #ECR – Issue of Options
ECR Minerals plc (LON:ECR), the exploration and development company focused on gold in Australia, is pleased to announce that it has today issued new options (“New Options”) over 68,100,000 ordinary shares in the Company, to senior employees and certain directors / PDMRS of the Company.
The new options will be valid for five years. They will be issued in three equal tranches and are priced at 1p, 2p and 3p. Exercise of each tranche of the New Options is conditional on the Volume Weighted Average Price of the shares for 14 days being equal to or higher than the relevant exercise price prior to exercise. Exercise of the options is also dependant on the relevant director or employee still being employed by the Company at the time of exercise.
The Directors and PDMRs receiving shares are as follows:
| Name of Director / PDMR | No. of New Options | Tranche 1: 1p Options | Tranche 2: 2p Options | Tranche 3: 3p Options | Total Options Held* |
| David Tang (Chairman) | 6,000,000 | 2,000,000 | 2,000,000 | 2,000,000 | 16,000,000 |
| Adam Jones (Director) | 12,000,000 | 4,000,000 | 4,000,000 | 4,000,000 | 17,000,000 |
| Andrew Scott (NED) | 6,000,000 | 2,000,000 | 2,000,000 | 2,000,000 | 21,000,000 |
| Andrew Haythorpe (CEO) | 33,000,000 | 11,000,000 | 11,000,000 | 11,000,000 | 33,000,000 |
*total options held includes options held under prior Option Schemes. More details of these are set out in the Company’s Annual Report and Accounts.
| ECR Minerals plc | Tel: +44 (0) 20 7929 1010 | |||
| David Tang, Non-Executive Chairman
Andrew Haythorpe, CEO |
||||
| Email: | ||||
| Website: www.ecrminerals.com | ||||
| WH Ireland Ltd | Tel: +44 (0) 207 220 1666 | |||
| Nominated Adviser
Katy Mitchell / Andrew de Andrade |
||||
| SI Capital Ltd | Tel: +44 (0) 1483 413500 | |||
| Broker | ||||
| Nick Emerson | ||||
| Novum Securities Limited | Tel: +44 (0) 20 7399 9425 | |||
| Broker
Jon Belliss |
||||
| Brand Communications | Tel: +44 (0) 7976 431608 | |||
| Public & Investor Relations | ||||
| Alan Green
|
||||
ECR Minerals #ECR – Latest Results from Soil Sampling at the Creswick Project, Victoria, Australia
ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce the latest soil sampling results from the Creswick Project, Victoria, Australia.
ECR Minerals plc has 100% ownership of the Creswick Project which includes exploration tenements EL006907, EL006713 and EL006184. All licences reside north to north-east of the City of Ballarat, Victoria, Australia. The Company is exploring a number of parallel-gold mineralisation trends that are believed to extend 10km NE from the Nerrina Goldfields at Ballarat.
ECR CEO Andrew Haythorpe commented: “As the MIDAS drill rig team continues the campaign across our Creswick tenements, the soil sampling results in today continue to build a picture of mineralisation in the area – improving resolution of potential new drill targets for the future. The Board and geo teams are pleased to see that the regional historical precedents from the Ballarat East Mine and the spatial relationship between arsenic and gold are very much in evidence with ECR’s own results at Creswick.”
I look forward to reporting back with the remainder of the sampling results, along with the first results from the diamond drilling campaign.”
HIGHLIGHTS
- Gold Results from initial 297 soil samples from Mills Reef Prospect received. Highest result includes 0.68 ppm Au.
- A comparison study between Gold results and Arsenic analysis by pXRF shows a close spatial relationship at Creswick.
- Arsenic analysis by pXRF has been completed for the Mills Reef, Bush Inn Road, Blue Gum prospects (on the proposed Dimocks Main Shale (DMS) mineralised trend).
- Additional pXRF analysis coupled with rock chip results on new prospects on the western side of EL006713 highlight further potential sources of Gold.
Map analysis images related to this announcement can be viewed here:
Figure 1: Overview map of prospects referred to in this announcement:
https://www.ecrminerals.com/images/2023/Fig1_230414_Overview.png
Figure 2: Gold and Arsenic soil geochemistry results for Mills Reef area:
https://www.ecrminerals.com/images/2023/Fig2_230414_Mills_Reef.png
Figure 3: Plan showing spatial comparison between Gold and Arsenic analysis:
https://www.ecrminerals.com/images/2023/Fig3_230414_Davey_Rd.png
Figure 4: Plan showing Arsenic geochemistry and rock chipping at Kuboid Hill and Green Lode prospects:
https://www.ecrminerals.com/images/2023/Fig4_230414_KH_GL.png
Figure 5: Plan showing Arsenic geochemistry at the Central and South Blue Gum prospects:
https://www.ecrminerals.com/images/2023/Fig5_230414_CBG-BGS.png
Figure 6: Plan showing Arsenic geochemistry at the Central and South Blue Gum prospects:
https://www.ecrminerals.com/images/2023/Fig6_230414_BIR.png
INITIAL SOILS RESULTS FOR MILLS REEF AREA
On March 3 2023, ECR announced the commencement of soil sampling campaigns over the Mills Reef area (see RNS here). Located approximately 6km south of ECR’s wholly owned Brewery Lane property, Mills Reef lies along the proposed line of the DMS and associated gold lodes contained therein. Results for the first 297 soil samples have been received from a total of 685 samples taken across the postulated strike of three gold lodes. The samples revealed a best reading of 685 ppb Au, along with a raft of additional elevated gold values between 25 and 75 ppb (see Figure Two above). All samples are additionally analysed for potential pathfinder elements such as arsenic using an in-house portable x-ray fluorescent gun (pXRF).
RELATIONSHIP OF GOLD TO ARSENIC VALUES IN SOIL
Across the countless previous exploration campaigns undertaken across the Victoria Gold Fields, it is generally accepted that arsenic values are closely related spatially to gold-bearing structures. Previous studies of the nearby Ballarat East Mine showed that arsenic increases in values within approximately 50 metres of the surrounding wall rock to gold bearing structures, (refer to Geoscience World article for context here). Gold and arsenic results from ECR’s soil geochemistry to date is supportive of this theory and the Board believes that arsenic values in soils above 10 ppm are to be considered anomalous and worthy of follow-up analysis at the laboratory for any coincidental gold content. Taking into account the spatial relationship between gold and arsenic on two prospects at Creswick, Mills Reef (Figure Two above) and Davey Road (Figure Three above), the Board are of the view that the close relationship of gold to arsenic can be used to identify which samples should be sent to the laboratory for gold analysis, thereby reducing operating costs.
NEW PROSPECTS EL006713
Work also continued at other regional prospects within the EL006713 tenement, with soil sampling now complete for Bush Inn Road, Kuboid Hill and Blue Gum prospects. pXRF analytical results showing arsenic (As) highlights from these prospects are shown in the figures listed above. Initial As results from the Blue Gum prospect, located approximately 2km south of Brewery Lane, Springmount, highlight potential blind gold shoots along strike of the DMS (see Figure Five above). Results from Bush Inn Road also have highlighted arsenic anomalies that will need further checking for actual gold values, with a major arsenic high identified at the north-east end of the current soil grid (see Figure Six above). Bush Inn Road is located 1.5km to the south of Mills Reef and is also along strike of the DMS.
In addition to the work at the prospects already outlined, initial soil testing and rock chipping of prospects situated on the western side of EL006713 are being investigated. Soil sampling and surface rock chipping has been completed at a prospect known as Kuboid Hill. Rock chips and arsenic soil geochemistry has highlighted elevated gold in the circled area in (see Figure 4b above) with best chips up to 6.23 g/t Au. Another prospect known as Greens Lode is located nearby Kuboid Hill. Greens Lode contains historical works including a shaft and small open cut that has revealed a major quartz lode up to 4 metres wide. Rock chips from dumps and from in-situ veining has shown gold values up to 6.53 g/t Au. The best gold values have been obtained from a quartz system that lies some 10 metres east of the main strike of historical workings (see Figure 4a above). Soil sampling along strike has been completed and analysis of these soils is in progress.
NEXT STEPS
Infill soil sampling work is continuing along the strike areas containing the better soil sample results. Soils that show elevated arsenic have been set aside for further laboratory analysis for gold, and soil sample results (gold) are due shortly for the remaining Mills Reef area and Kuboid Hill prospect. ECR has also completed initial soil sampling on the north end of EL006184 at Quartz Hill where the quartz veins continue to the north.
REVIEW OF ANNOUNCEMENT BY QUALIFIED PERSON
This announcement has been reviewed by Adam Jones, Technical Director of Exploration at 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.
FOR FURTHER INFORMATION, PLEASE CONTACT:
| ECR Minerals plc | Tel: +44 (0) 20 7929 1010 | |||
| David Tang, Non-Executive Chairman
Andrew Haythorpe, CEO |
||||
| Email: | ||||
| Website: www.ecrminerals.com | ||||
| WH Ireland Ltd | Tel: +44 (0) 207 220 1666 | |||
| Nominated Adviser
Katy Mitchell / Andrew de Andrade |
||||
| SI Capital Ltd | Tel: +44 (0) 1483 413500 | |||
| Broker | ||||
| Nick Emerson | ||||
| Novum Securities Limited | Tel: +44 (0) 20 7399 9425 | |||
| Broker
Jon Belliss |
||||
| Brand Communications | Tel: +44 (0) 7976 431608 | |||
| Public & Investor Relations | ||||
| Alan Green
|
||||
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 six licence applications outstanding which includes one licence application lodged in eastern Victoria. (Tambo gold project). MGA is currently drilling at the Bailieston Blue Moon Project (EL5433) and undertaking geochemical exploration on the Creswick (EL6148) project and has an experienced exploration team with significant local knowledge in the Victoria Goldfields and wider region.
ECR also owns 100% of an Australian subsidiary LUX Exploration Pty Ltd (“LUX”) which has three approved exploration permits covering 946 km2 over a relatively unexplored area in Queensland, Australia.
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 holds a 90% 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.
ECR Minerals #ECR – Final Niobium and Tantalum Stream Results Extend Anomalous Footprint at Lolworth Range Project, Queensland
ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce the final Niobium and Tantalum results from the stream sampling campaign at the Lolworth Range project, North Queensland, Australia.
ECR, through its wholly owned subsidiary, has 100% ownership of three exploration tenements (EPM27901, EPM27902 and EPM27903), which covers the Lolworth Range, located 120km west of the famous gold district of Charters Towers. The project is being explored under ECR’s Australian wholly owned subsidiary Lux Exploration Pty Ltd (“LUX”).
HIGHLIGHTS
- 76 Lithium, Niobium and Tantalum (Li-Nb-Ta) results from the final batch of pan concentrate stream sediment samples now received.
- Best results include Niobium up to 894 ppm and Tantalum up to 290 ppm.
- These new results extend the anomalous Nb-Ta drainages 10km further west of the previously announced high Nb-Ta results (see announcement from Feb 1 2023 here).
- Approximately 50 square kilometres of the Lolworth Project now showing signs of hosting a potential Li-Nb-Ta hardrock source.
ECR CEO Andrew Haythorpe commented: “Although ECR Minerals is currently in an early exploration phase at Lolworth, it is nonetheless gratifying to see the project take a significant step forward on the back of an extension to the potential drainage sources for Niobium and Tantalum. To already have a 50 sq km area indicating a potential combined resource for Lithium, Niobium and Tantalum at this phase of exploration is an exciting development by any standard. Whilst still at an early stage, these results together with the gold anomalies reported last week (see announcement from Feb 23 2023 here), adds further credence to the Board’s view that the Lolworth Project has great potential to develop into a multi mineral flagship project for the Company.”
“I look forward to reporting back on further developments.”
Summary plan of all anomalous Niobium and Tantalum areas identified from the 2022 stream sampling campaign at the Lolworth Project are shown in Figure 1 below:
Figure 1: https://www.ecrminerals.com/images/2023/Fig1_230331_Ta-Nb-Update.png
FINAL Li-Ta-Nb RESULTS
The last remaining multi-element results from the pan concentrate stream sampling campaign completed at the end of 2022 have now been received. Previous results have identified that several streams within the Lolworth Project are host to anomalous Gold, Lithium, Tantalum and Niobium, with Li-Ta-Nb sample results indicating that a 10km north-south ridgeline north of Gorge Creek is close to the possible source rocks. Details of this work are shown in Figure One above.
The final results are anomalous in Ta and Nb with over 10 of the 76 results greater than 300 ppm in Niobium and 9 greater than 150ppm in Tantalum. Although there were no traces of anomalous Lithium in these results, we have extended the search for potential host rocks for Ta-Nb to the centre of EPM27902.
NEXT STEPS
The 2023 field work campaign is anticipated to start next month (May 2023). The Board has already identified key areas to follow-up from last season’s work, targeting the sources for the gold anomalies, along with lithium, tantalum and niobium. Initial work will focus on soil sampling and rock chipping outcrops over the 10km north-south ridgeline where the most promising Ta-Nb source streams drain from. Pegmatites are known sources for Li-Ta and Nb and these are known to outcrop throughout the area.
The Board is enthused by the possibilities and nascent potential that is believed to exist at Lolworth. While our license tenements there represent virgin territory for lithium, tantalum and niobium exploration, given what has already been identified at such an early phase of exploration, we believe the Lolworth Project has great potential as a future, multi mineral flagship project for the Company.
REVIEW OF ANNOUNCEMENT BY QUALIFIED PERSON
This announcement has been reviewed by Adam Jones, Technical Director of Exploration at 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.
FOR FURTHER INFORMATION, PLEASE CONTACT:
| ECR Minerals plc | Tel: +44 (0) 20 7929 1010 | |||
| David Tang, Non-Executive Chairman
Andrew Haythorpe, CEO |
||||
| Email: | ||||
| Website: www.ecrminerals.com | ||||
| WH Ireland Ltd | Tel: +44 (0) 207 220 1666 | |||
| Nominated Adviser
Katy Mitchell / Andrew de Andrade |
||||
| SI Capital Ltd | Tel: +44 (0) 1483 413500 | |||
| Broker | ||||
| Nick Emerson | ||||
| Novum Securities Limited | Tel: +44 (0) 20 7399 9425 | |||
| Broker
Jon Belliss |
||||
| Brand Communications | Tel: +44 (0) 7976 431608 | |||
| Public & Investor Relations | ||||
| Alan Green | ||||
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 six licence applications outstanding which includes one licence application lodged in eastern Victoria. (Tambo gold project). MGA is currently drilling at the Bailieston Blue Moon Project (EL5433) and undertaking geochemical exploration on the Creswick (EL6148) project and has an experienced exploration team with significant local knowledge in the Victoria Goldfields and wider region.
ECR also owns 100% of an Australian subsidiary LUX Exploration Pty Ltd (“LUX”) which has three approved exploration permits covering 946 km2 over a relatively unexplored area in Queensland, Australia.
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 holds a 90% 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.
APPENDIX ONE
TABLE ONE: All Li-Ni-Ta results from the remaining 76 stream samples, Lolworth Range Project. (Locations reported as GDA94-Zone 55 grid).
| SAMPLEID | EASTING | NORTHING | Lithium (ppm) | Niobium (ppm) | Tantalum (ppm) |
| LWSS152 | 314342 | 7749643 | 10 | 26 | 10 |
| LWSS201 | 311180 | 7748656 | 30 | 9 | 10 |
| LWSS202 | 310602 | 7749015 | 30 | 20 | 10 |
| LWSS203 | 311113 | 7748916 | 20 | 6 | 10 |
| LWSS301 | 313505 | 7752290 | 10 | 27 | 10 |
| LWSS305 | 313302 | 7754719 | 10 | 110 | 20 |
| LWSS307 | 313709 | 7753194 | 10 | 424 | 110 |
| LWSS308 | 310995 | 7751833 | 10 | 6 | 10 |
| LWSS309 | 309549 | 7750825 | 10 | 9 | 10 |
| LWSS312 | 308468 | 7755458 | 10 | 344 | 150 |
| LWSS313 | 307690 | 7753774 | 10 | 84 | 10 |
| LWSS314 | 310197 | 7753918 | 10 | 40 | 10 |
| LWSS315 | 310983 | 7752585 | 10 | 8 | 10 |
| LWSS316 | 310476 | 7751531 | 10 | 14 | 10 |
| LWSS317 | 307360 | 7752660 | 10 | 37 | 10 |
| LWSS318 | 304761 | 7751530 | 20 | 137 | 70 |
| LWSS319 | 303817 | 7750821 | 20 | 49 | 20 |
| LWSS320 | 303513 | 7749908 | 10 | 52 | 30 |
| LWSS321 | 304329 | 7749453 | 10 | 83 | 40 |
| LWSS322 | 303733 | 7748970 | 10 | 375 | 360 |
| LWSS323 | 302222 | 7751634 | 20 | 11 | 10 |
| LWSS324 | 301408 | 7750191 | 20 | 17 | 10 |
| LWSS325 | 301118 | 7750266 | 20 | 7 | 10 |
| LWSS326 | 299529 | 7750758 | 10 | 8 | 10 |
| LWSS327 | 298851 | 7753698 | 10 | 70 | 10 |
| LWSS328 | 298118 | 7752914 | 10 | 63 | 20 |
| LWSS329 | 297786 | 7752803 | 10 | 164 | 60 |
| LWSS330 | 297542 | 7752332 | 10 | 130 | 40 |
| LWSS331 | 297859 | 7751589 | 10 | 235 | 70 |
| LWSS332 | 297743 | 7751392 | 10 | 51 | 10 |
| LWSS333 | 293758 | 7754499 | 20 | 22 | 10 |
| LWSS335 | 291417 | 7756638 | 10 | 18 | 10 |
| LWSS336 | 293662 | 7758117 | 10 | 35 | 20 |
| LWSS337 | 293239 | 7758862 | 10 | 107 | 30 |
| LWSS338 | 291660 | 7758838 | 10 | 36 | 10 |
| LWSS339 | 291835 | 7759016 | 10 | 335 | 60 |
| LWSS340 | 291528 | 7759047 | 10 | 34 | 10 |
| LWSS341 | 291878 | 7759967 | 10 | 26 | 10 |
| LWSS342 | 300649 | 7755309 | 10 | 170 | 50 |
| LWSS343 | 300697 | 7756249 | 10 | 712 | 340 |
| LWSS344 | 301040 | 7756293 | 20 | 40 | 10 |
| LWSS345 | 303230 | 7756616 | 10 | 217 | 50 |
| LWSS346 | 303005 | 7755876 | 10 | 16 | 10 |
| LWSS347 | 302894 | 7755034 | 10 | 25 | 10 |
| LWSS348 | 303560 | 7754928 | 10 | 20 | 10 |
| LWSS349 | 303118 | 7754758 | 10 | 176 | 70 |
| LWSS350 | 302526 | 7754269 | 10 | 65 | 10 |
| LWSS351 | 302462 | 7753891 | 10 | 39 | 20 |
| LWSS352 | 302689 | 7753860 | 20 | 73 | 70 |
| LWSS353 | 303659 | 7754034 | 20 | 51 | 20 |
| LWSS354 | 304643 | 7757176 | 10 | 528 | 190 |
| LWSS355 | 304398 | 7757534 | 10 | 579 | 230 |
| LWSS356 | 305095 | 7757449 | 10 | 321 | 80 |
| LWSS357 | 306860 | 7757553 | 10 | 695 | 210 |
| LWSS358 | 306999 | 7756369 | 10 | 118 | 40 |
| LWSS359 | 307628 | 7757575 | 10 | 186 | 70 |
| LWSS360 | 307631 | 7757707 | 10 | 288 | 60 |
| LWSS361 | 308082 | 7757860 | 10 | 66 | 10 |
| LWSS362 | 310752 | 7758027 | 10 | 73 | 10 |
| LWSS363 | 310768 | 7757374 | 10 | 234 | 50 |
| LWSS387 | 315175 | 7747119 | 20 | 9 | 10 |
| LWSS388 | 314838 | 7746642 | 20 | 19 | 10 |
| LWSS389 | 314882 | 7746209 | 10 | 6 | 10 |
| LWSS390 | 315960 | 7746391 | 30 | 8 | 10 |
| LWSS391 | 316127 | 7746489 | 20 | 6 | 10 |
| LWSS392 | 303396 | 7763735 | 10 | 222 | 130 |
| LWSS393 | 302950 | 7763679 | 10 | 77 | 20 |
| LWSS394 | 303018 | 7763551 | 10 | 136 | 30 |
| LWSS395 | 303268 | 7763015 | 10 | 151 | 40 |
| LWSS396 | 301531 | 7762367 | 10 | 37 | 10 |
| LWSS397 | 301495 | 7761879 | 10 | 5 | 10 |
| LWSS398 | 302744 | 7761951 | 10 | 70 | 10 |
| LWSS399 | 302960 | 7761777 | 10 | 59 | 10 |
| LWSS400 | 305221 | 7762763 | 10 | 397 | 110 |
| LWSS401 | 305347 | 7762407 | 10 | 164 | 30 |
| LWSS402 | 312624 | 7757384 | 10 | 894 | 290 |
ECR Minerals #ECR – Further Stream Sampling Results Identify New Gold Anomalies at Lolworth Range Project, Queensland
ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce updated gold results from the stream sampling campaign at the Lolworth Range project, North Queensland, Australia.
ECR Minerals plc has 100% ownership of three exploration tenements (EPM27901, EPM27902 and EPM27903), which covers the Lolworth Range, located 120km west of the famous gold district of Charters Towers. The project is being explored under ECR’s Australian wholly owned subsidiary Lux Exploration Pty Ltd (“LUX”).
HIGHLIGHTS
- Assays from the final 75 stream sediment samples now received.
- Results have outlined another 6 stream drainages that are anomalous in gold.
- Gold results up to 1395 ppm gold correlate well to visual gold seen in pan concentrates
- Results for Li-Ta-Ni-Ce are yet to be received.
ECR CEO Andrew Haythorpe commented: “I am pleased to report that once again our Lolworth assets continue to exceed expectations. As the regional streams and gullies continue to give up their secrets and yield some high gold values, there is a real sense of excitement and anticipation at the potential scale and diversity at the project. Once our field team get back on the ground and zone in on the most promising streams, we expect to be able to produce a shortlist of drill targets ready for our rig to commence work at the earliest opportunity.”
“We already know 2023 will be a definitive year for Lolworth, and with so much more to come from the rest of ECR’s asset portfolio, I look forward to reporting further developments as they occur.”
Plan of all outlying anomalous gold areas identified from stream sampling to date at the Lolworth Project are shown in Figure 1 below:
Figure 1: https://www.ecrminerals.com/images/2023/Fig1_Lolworth_Project_230322.png
NEW GOLD RESULTS
We are pleased that the long-awaited results for the last batch of stream samples have finally arrived. The results show that 12 of the 75 completed samples contain anomalous values greater than 0.21 ppm Au with three samples in particular recording 25.9, 205 and 1395 ppm gold. Whilst this is still early stage sampling work, it should be noted that the majority of these high gold values correlate with the visual identification of gold seen in the pan stream concentrates. The Directors believe the reported high values are strongly indicative of a gold source up-stream and therefore are not representative of the in-situ gold resource within the streams themselves.
ADDITIONAL STREAM ANOMALIES
As outlined in Figure 1 above, our reported additional gold results have identified five new stream catchments that are anomalous in gold. All these new areas are situated to the west of the Reedy Creek and Gorge Creek drainages, and will be re-visited once the current tropical wet season ends.
NEXT STEPS
Since initial work began at Lolworth in September 2022, the field team have identified numerous catchments that have highlighted potential multiple gold sources across all three tenements. Adding further value to this, critical minerals such as lithium, tantalum and niobium have also been identified within streams that are draining from a prominent 10km long north-south ridge line that starts north from Gorge Creek. The results so far have exceeded the expectations of the Board, and along with the geology and field teams on the ground, there is a palpable sense of anticipation over what the project could yield in the coming months.
As we wait for the heavy tropical rains to pass, the ECR Board has planned out the next ‘boots on the ground’ phase to commence in May-June this year. The new campaign priorities will involve mapping, rock chip sampling and soil sampling over the headwaters and ridgelines of the most promising streams. Subject to these results the board will then delineate appropriate drill targets, and schedule a drilling campaign to commence late 2023 / early 2024.
REVIEW OF ANNOUNCEMENT BY QUALIFIED PERSON
This announcement has been reviewed by Adam Jones, Technical Director of Exploration at 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.
FOR FURTHER INFORMATION, PLEASE CONTACT:
| ECR Minerals plc | Tel: +44 (0) 20 7929 1010 | |||
| David Tang, Non-Executive Chairman
Andrew Haythorpe, CEO |
||||
| Email: | ||||
| Website: www.ecrminerals.com | ||||
| WH Ireland Ltd | Tel: +44 (0) 207 220 1666 | |||
| Nominated Adviser
Katy Mitchell / Andrew de Andrade |
||||
| SI Capital Ltd | Tel: +44 (0) 1483 413500 | |||
| Broker | ||||
| Nick Emerson | ||||
| Novum Securities Limited | Tel: +44 (0) 20 7399 9425 | |||
| Broker
Jon Belliss |
||||
| Brand Communications | Tel: +44 (0) 7976 431608 | |||
| Public & Investor Relations | ||||
| Alan Green
|
||||
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 six licence applications outstanding which includes one licence application lodged in eastern Victoria. (Tambo gold project). MGA is currently drilling at the Bailieston Blue Moon Project (EL5433) and undertaking geochemical exploration on the Creswick (EL6148) project and has an experienced exploration team with significant local knowledge in the Victoria Goldfields and wider region.
ECR also owns 100% of an Australian subsidiary LUX Exploration Pty Ltd (“LUX”) which has three approved exploration permits covering 946 km2 over a relatively unexplored area in Queensland, Australia.
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 holds a 90% 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.
APPENDIX ONE
TABLE ONE: All 76 gold results listed by rank of Au ppm. Highly anomalous results in bold, Lolworth Range Project. (Locations reported as GDA94-Zone 55 grid).
| SAMPLEID | EASTING | NORTHING | Au (ppm) |
| LWSS152 | 314342 | 7749643 | 1395 |
| LWSS316 | 310476 | 7751531 | 205 |
| LWSS330 | 297542 | 7752332 | 25.9 |
| LWSS324 | 301408 | 7750191 | 3.54 |
| LWSS355 | 304398 | 7757534 | 3.28 |
| LWSS307 | 313709 | 7753194 | 2.45 |
| LWSS392 | 303396 | 7763735 | 0.837 |
| LWSS328 | 298118 | 7752914 | 0.833 |
| LWSS400 | 305221 | 7762763 | 0.411 |
| LWSS203 | 311113 | 7748916 | 0.292 |
| LWSS363 | 310768 | 7757374 | 0.264 |
| LWSS319 | 303817 | 7750821 | 0.257 |
| LWSS331 | 297859 | 7751589 | 0.116 |
| LWSS337 | 293239 | 7758862 | 0.089 |
| LWSS358 | 306999 | 7756369 | 0.07 |
| LWSS308 | 310995 | 7751833 | 0.045 |
| LWSS333 | 293758 | 7754499 | 0.04 |
| LWSS387 | 315175 | 7747119 | 0.04 |
| LWSS401 | 305347 | 7762407 | 0.035 |
| LWSS356 | 305095 | 7757449 | 0.029 |
| LWSS309 | 309549 | 7750825 | 0.025 |
| LWSS322 | 303733 | 7748970 | 0.015 |
| LWSS320 | 303513 | 7749908 | 0.009 |
| LWSS402 | 312624 | 7757384 | 0.008 |
| LWSS313 | 307690 | 7753774 | 0.007 |
| LWSS325 | 301118 | 7750266 | 0.006 |
| LWSS395 | 303268 | 7763015 | 0.005 |
| LWSS301 | 313505 | 7752290 | 0.003 |
| LWSS327 | 298851 | 7753698 | 0.003 |
| LWSS335 | 291417 | 7756638 | 0.003 |
| LWSS336 | 293662 | 7758117 | 0.003 |
| LWSS340 | 291528 | 7759047 | 0.003 |
| LWSS201 | 311180 | 7748656 | 0.002 |
| LWSS202 | 310602 | 7749015 | 0.002 |
| LWSS339 | 291835 | 7759016 | 0.002 |
| LWSS390 | 315960 | 7746391 | 0.002 |
| LWSS305 | 313302 | 7754719 | 0.001 |
| LWSS312 | 308468 | 7755458 | 0.001 |
| LWSS314 | 310197 | 7753918 | 0.001 |
| LWSS315 | 310983 | 7752585 | 0.001 |
| LWSS317 | 307360 | 7752660 | 0.001 |
| LWSS318 | 304761 | 7751530 | 0.001 |
| LWSS321 | 304329 | 7749453 | 0.001 |
| LWSS323 | 302222 | 7751634 | 0.001 |
| LWSS326 | 299529 | 7750758 | 0.001 |
| LWSS329 | 297786 | 7752803 | 0.001 |
| LWSS332 | 297743 | 7751392 | 0.001 |
| LWSS338 | 291660 | 7758838 | 0.001 |
| LWSS341 | 291878 | 7759967 | 0.001 |
| LWSS342 | 300649 | 7755309 | 0.001 |
| LWSS343 | 300697 | 7756249 | 0.001 |
| LWSS344 | 301040 | 7756293 | 0.001 |
| LWSS345 | 303230 | 7756616 | 0.001 |
| LWSS346 | 303005 | 7755876 | 0.001 |
| LWSS347 | 302894 | 7755034 | 0.001 |
| LWSS348 | 303560 | 7754928 | 0.001 |
| LWSS349 | 303118 | 7754758 | 0.001 |
| LWSS350 | 302526 | 7754269 | 0.001 |
| LWSS351 | 302462 | 7753891 | 0.001 |
| LWSS352 | 302689 | 7753860 | 0.001 |
| LWSS353 | 303659 | 7754034 | 0.001 |
| LWSS354 | 304643 | 7757176 | 0.001 |
| LWSS357 | 306860 | 7757553 | 0.001 |
| LWSS359 | 307628 | 7757575 | 0.001 |
| LWSS360 | 307631 | 7757707 | 0.001 |
| LWSS361 | 308082 | 7757860 | 0.001 |
| LWSS362 | 310752 | 7758027 | 0.001 |
| LWSS388 | 314838 | 7746642 | 0.001 |
| LWSS389 | 314882 | 7746209 | 0.001 |
| LWSS391 | 316127 | 7746489 | 0.001 |
| LWSS393 | 302950 | 7763679 | 0.001 |
| LWSS394 | 303018 | 7763551 | 0.001 |
| LWSS396 | 301531 | 7762367 | 0.001 |
| LWSS398 | 302744 | 7761951 | 0.001 |
| LWSS399 | 302960 | 7761777 | 0.001 |
ECR Minerals #ECR – Creswick drilling pic
The 2023 ECR Minerals #ECR Creswick drill programme is up and running
~ The MIDAS rig sited at Hole CSD015 in the vicinity of the high grade RC drill zone from 2019
~ Technical Director Adam Jones & team are on hand to conduct initial assessment of core samples (stacked on the left)
ECR Minerals #ECR – Further High-Grade Gold Intercepts at Blue Moon Prospect, Bailieston, Victoria
ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce results for three more drill holes from the Blue Moon Prospect, Bailieston, Victoria, including our best gold intercept for this 2022 drilling campaign in hole BBMDD010.
ECR Minerals plc has 100% ownership of the Bailieston Project (EL5433), which contains the gold prospects known as HR3, Cherry Tree, Blue Moon and Black Cat. The projects are operated by ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd (“MGA”).
ECR CEO Andrew Haythorpe commented: “The Board are pleased to report further drill results from Blue Moon, with the drilling campaign almost complete, and that we have for the most part seen continuity of grades across results from the holes announced today. As largely expected by the geo team, the best result came from hole BBMDD010, with an impressive composite grade of 6.35m @4.56 g/t from 84.9m down. With the modelling for Blue Moon nearly complete, we are close to finalising our plan of action here for 2023.”
“My thanks to Adam Jones and the team for working through the logistical challenges encountered during the campaign, and I look forward to reporting next steps for Blue Moon on receipt of assays for holes BBMDD012 and BBMDD013 in the next few weeks.”
HIGHLIGHTS
- Results from drillholes BBMDD009, BBMDD010 and BBMD011 received
- Intercepts from hole BBMDD010 at 84.9m depth composite together at a grade of 6.35m @ 4.56 g/t Au (using a cut-off of 1 g/t Au).
- Best results from hole BBMDD010 include 0.5m @ 17.77 g/t Au from 84.9m, 0.4m @ 15.02 g/t Au from 85.4m and 0.3m @ 10.62 g/t Au from 85.8m.
- Results include 0.4m @ 0.25 g/t Au from 205.2m (BBMDD009).
- 1m @ 0.72 g/t Au from 95m (BBMDD011).
- Recognition of potential plunging high-grade shoot.
Figure 1. Overview of 2022-2023 diamond drilling campaign to February 2023:
https://www.ecrminerals.com/images/2023/Fig1_BBM_Plan_230223.png
Figure 2. Long-section of 2022-2023 diamond drilling campaign to February 2023 showing hypothesised high grade gold shoot:
https://www.ecrminerals.com/images/2023/Fig2_BBM_LS_230223.png
OPERATIONAL UPDATE
Diamond drilling has now been completed at Blue Moon, with the Midas rig demobilised on the 23rd February 2023. Midas will undergo a service before delivery to the Brewery Lane property at Creswick (EL006184). The rig is expected to be up and drilling within the property boundary by mid to late next week, and drilling is scheduled to follow up on the RC drill results from the 2019 Creswick campaign. The Board has also planned a number of drillholes into the quartz reef (Spring Hill Reef) where recent high grade rock chips in situ were taken from the walls of the historic workings (see RNS dated February 7 2023 here).
BBMDD009-010-011 RESULTS
Drillhole BBMDD009 was designed to test the deeper levels of the Blue Moon dyke vertically below the best previous intercept in hole BBMDD004 of 0.5m @ 7.29 g/t Au. Although the dyke target was intercepted in hole BBMDD009 at a depth of 200m, the contained gold was negligible, with 0.4m @ 0.25 g/t Au from 205.2m the best result.
Site access and wet weather hampered access to drillholes BBMDD010 and BBMDD011 at the start of the campaign. Both drillholes were designed to test the shallower levels of the Blue Moon dyke either side of ECR’s best intercept to date in RC hole BBM007 (11m @ 5.13 g/t Au from 55m). Once drilling at BBMDD010 commenced, an immediate increase in the width of the hosting dyke became apparent, supported by the best drill intercepts from the current drilling campaign including 0.5m @ 17.77 g/t Au from 84.9m, 0.4m @ 15.02 g/t Au from 85.4m and 0.3m @ 10.62 g/t Au from 85.8m. Grouped together, the intercepts from 84.9m depth composite together at a grade of 6.35m @ 4.56 g/t Au (using a cut-off of 1 g/t Au).
Drillhole BBMDD011 did not contain any significant value, with a best intercept of 1m @ 0.72 g/t Au from 95m depth.
The drilling of earlier holes BBMDD004 to BBMDD008 was designed to test the possible extent of mineralisation to the west. If the drill results from these initial holes had proven successful, the known strike extent of Blue Moon will effectively double.
Table 1. Drill intercepts containing reportable levels of gold > 0.11 g/t Au, holes BBMDD009 to BBMDD011. Best grade intercepts highlighted in bold.
| Hole ID | From (m) | To (m) | Length (m) | Au g/t | *Gram metres |
| BBMDD009 | 204.6 | 205.2 | 0.3 | 0.16 | 0.05 |
| BBMDD009 | 205.2 | 205.5 | 0.4 | 0.25 | 0.10 |
| BBMDD009 | 209 | 210 | 1 | 0.16 | 0.16 |
| BBMDD010 | 63.1 | 64.1 | 1 | 0.32 | 0.32 |
| BBMDD010 | 64.1 | 65.1 | 1 | 0.31 | 0.31 |
| BBMDD010 | 67 | 68 | 1 | 0.12 | 0.12 |
| BBMDD010 | 68 | 69 | 1 | 0.26 | 0.26 |
| BBMDD010 | 69 | 70 | 1 | 0.32 | 0.32 |
| BBMDD010 | 70 | 70.9 | 0.9 | 0.2 | 0.18 |
| BBMDD010 | 70.9 | 71.75 | 0.85 | 0.63 | 0.54 |
| BBMDD010 | 71.75 | 72.7 | 0.95 | 0.61 | 0.58 |
| BBMDD010 | 72.7 | 73.95 | 1.25 | 0.61 | 0.76 |
| BBMDD010 | 73.95 | 74.8 | 0.85 | 0.28 | 0.24 |
| BBMDD010 | 76.8 | 77.8 | 1 | 0.29 | 0.29 |
| BBMDD010 | 77.8 | 78.85 | 1.05 | 0.21 | 0.22 |
| BBMDD010 | 81.5 | 81.9 | 0.4 | 0.3 | 0.12 |
| BBMDD010 | 81.9 | 82.9 | 1 | 1.67 | 1.67 |
| BBMDD010 | 82.9 | 84 | 1.1 | 2.93 | 3.22 |
| BBMDD010 | 84 | 84.9 | 0.9 | 2.83 | 2.55 |
| BBMDD010 | 84.9 | 85.4 | 0.5 | 17.77 | 8.89 |
| BBMDD010 | 85.4 | 85.8 | 0.4 | 15.02 | 6.01 |
| BBMDD010 | 85.8 | 86.1 | 0.3 | 10.62 | 3.19 |
| BBMDD010 | 86.1 | 86.35 | 0.25 | 6.22 | 1.56 |
| BBMDD010 | 86.35 | 86.8 | 0.45 | 0.82 | 0.37 |
| BBMDD010 | 86.8 | 87.8 | 1 | 1.06 | 1.06 |
| BBMDD011 | 94.25 | 94.7 | 0.45 | 1.07 | 0.48 |
| BBMDD011 | 94.7 | 95 | 0.3 | 0.42 | 0.13 |
| BBMDD011 | 95 | 96 | 1 | 0.72 | 0.72 |
| BBMDD011 | 96 | 96.6 | 0.6 | 0.32 | 0.19 |
| BBMDD011 | 96.6 | 97.6 | 1 | 0.24 | 0.24 |
| BBMDD011 | 97.6 | 98.6 | 1 | 0.2 | 0.20 |
| BBMDD011 | 98.6 | 99.6 | 1 | 0.38 | 0.38 |
| BBMDD011 | 99.6 | 100.6 | 1 | 0.28 | 0.28 |
| BBMDD011 | 100.6 | 101.6 | 1 | 0.36 | 0.36 |
| BBMDD011 | 101.6 | 102 | 0.4 | 0.14 | 0.06 |
| BBMDD011 | 102 | 102.9 | 0.9 | 0.15 | 0.14 |
| BBMDD011 | 102.9 | 103.9 | 1 | 0.21 | 0.21 |
*Gram metres represents the contained Au metal within the reported length, calculated as interval (m) multiplied by grade (g/t Au)
RECOGNITION OF POTENTIAL HIGH GRADE GOLD TREND AND NEXT STEPS
Drilling into the Blue Moon Project between 2018 and to date includes 12 diamond drill holes and 12 RC drill holes. Plotting the best intersections to date onto a long-section profile along strike of the Blue Moon dyke does, in the opinion of the Board, indicate the presence of a high-grade gold shoot, which may plunge moderately to the west under hole BBMDD004 (refer to Figure 2 above). A lineal trend plots between high grade gold intercepts in hole BBM004 (RC drilled), hole BBMDD004 and hole BBMDD010 (diamond drilled). The last drilled hole BBMDD013 is targeting the downward trend of this hypothetical shoot. The presence of some high grades from Blue Moon drilling results to date is encouraging, although the width and strike of the predicted grade plunge is narrower than at first thought. Once results from holes BBMDD012 and BBMDD013 are received (anticipated in the next two to three weeks) the Board can finalise a 2023 plan of action for Blue Moon.
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.
REVIEW OF ANNOUNCEMENT BY QUALIFIED PERSON
This announcement has been reviewed by Adam Jones, Technical Director of Exploration at 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.
FOR FURTHER INFORMATION, PLEASE CONTACT:
| ECR Minerals plc | Tel: +44 (0) 20 7929 1010 | |||
| David Tang, Non-Executive Chairman
Andrew Haythorpe, CEO |
||||
| Email: | ||||
| Website: www.ecrminerals.com | ||||
| WH Ireland Ltd | Tel: +44 (0) 207 220 1666 | |||
| Nominated Adviser
Katy Mitchell / Andrew de Andrade |
||||
| SI Capital Ltd | Tel: +44 (0) 1483 413500 | |||
| Broker | ||||
| Nick Emerson | ||||
| Novum Securities Limited | Tel: +44 (0) 20 7399 9425 | |||
| Broker
Jon Belliss |
||||
| Brand Communications | Tel: +44 (0) 7976 431608 | |||
| Public & Investor Relations | ||||
| Alan Green
|
||||
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 six licence applications outstanding which includes one licence application lodged in eastern Victoria. (Tambo gold project). MGA is currently drilling at the Bailieston Blue Moon Project (EL5433) and undertaking geochemical exploration on the Creswick (EL6148) project and has an experienced exploration team with significant local knowledge in the Victoria Goldfields and wider region.
ECR also owns 100% of an Australian subsidiary LUX Exploration Pty Ltd (“LUX”) which has three approved exploration permits covering 946 km2 over a relatively unexplored area in Queensland, Australia.
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 holds a 70% 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