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ECR Minerals #ECR – Rock Chip Results from Tambo Licence EL7484 and Renewal of Bailieston Licence EL5433
ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce further developments at their Victoria exploration licences EL5433 (Bailieston) and EL007484 (Tambo).
ECR Minerals plc has 100% ownership of EL5433 and EL007484 within the state of Victoria, Australia. EL5433 (Bailieston) exploration licence is located 50km east of the Mandalay Resources Costerfield Mine (producing Gold and Antimony). EL007484 (Tambo) is located within the eastern part of the state of Victoria. Both tenements are being operated under ECR Minerals plc Australian subsidiary Company Mercator Gold Australia (‘MGA’).
HIGHLIGHTS
- Results for 27 rock chips taken from gold prospects within the Tambo licence EL007484 received. Best results include 0.2m @ 22.2 g/t Au and 0.5m @ 5.72 g/t Au.
- Bailieston exploration licence EL5433 has successfully been renewed for a further 5 years.
CEO Andrew Haythorpe commented: “The pace of developments in Queensland this year ensures that our Lolworth and Hurricane projects remain ECR’s primary focus, but it is gratifying to note that initial rock chip sampling at our hitherto unexplored Tambo project in Victoria has already delivered some noteworthy gold grades. Our Board is firmly of the view that the minimum expenditure requirements to retain the key licenses at Bailieston and Tambo are warranted, and our teams will continue piecemeal work at these licenses throughout the year when it is logistically expedient to do so.”
TAMBO LICENCE ROCKCHIP RESULTS
Initial ground work was recently undertaken at Victoria licence EL007484 (Tambo) as part of ECR’s 2023 exploration schedule. A total of 27 rock chips were taken from exposed quartz veins in and around the historical gold workings known as the Duke of Cornwall and Swift Creek Reef. Best results include 0.2m @ 22.2 g/t Au and 0.5m @ 5.72 g/t Au and a complete set of results is tabulated in Appendix One below. The gold results correlate with elevated metals of Arsenopyrite and Bismuth. These two minerals are likely pathfinder elements which will help vector towards gold mineralisation in future exploration activities.
RENEWAL OF EL5433 (BAILIESTON)
ECR have also successfully renewed exploration tenement EL5433 (also known as Bailieston) for a renewed 5-year term (expiring March 27th 2028. The Bailieston licence contains the recently explored prospects known as HR3, Cherry Tree and Blue Moon. Although the discoveries made to date have been modest, the best prospects within the tenement still lie in the vicinity of HR3 where the last drillholes returned gold intercepts such as 4m @ 9.01 g/t Au (hole BH3DD043), 0.2m @ 9.22 g/t Au (hole BH3DD042) (see announcement dated October 14 2022 here for full details of these drill results). It is worth noting also that the strike extent at this location is still open to the north and at depth. The Bailieston tenement is situated halfway between the Costerfield Mine and tenements belonging to ASX listed Nagambie Resources, and the district is fast gaining a reputation for Antimony mineralisation. The Costerfield Mine, owned by Mandalay Resources is also producing Gold and Antimony. License EL5433 has a yearly minimum expenditure requirement of AUD $38000, and is adjacent to ECR exploration licenses EL006911 and EL 006912 granted in December 2022. ECR’s total exploration land package at Bailieston is 179 square kilometres.
NEXT STEPS
The Board is of the opinion that Tambo tenement EL007484 and Bailieston tenement EL5433 hold considerable nascent value and warrant the minimum required expenditure per year. As mentioned previously, the HR3 Goldfield on EL5433 still has exploration potential and follow-up work along strike from the previously good drill intercepts, and as such the Board plans to extend the possible strike of gold mineralisation to the north of HR3 with soil geochemistry work followed by drilling.
The Board is pleased with the initial rock chip sampling results at the Duke of Cornwall prospect at the Tambo licence EL007484, and is of the opinion that further investigation is warranted. Our initial findings establishing a strong correlation between Gold, Arsenic and Bismuth will also aid in future exploration. EL007484 is licenced to 25 November 2026 and is eligible for a grant of a further 5-year term provided the minimum expenditure and work commitments are reached. The Board is of the opinion that all ECR’s Victorian assets warrant further work in the future, but this will only take place once market conditions prove more supportive for junior explorers
ECR’s exploration focus this year has shifted towards the two North Queensland projects at Lolworth and Hurricane. Due to the potential size and range of mineralisation already identified (Gold, Antimony, Niobium, Tantalum and Rare Earths) in North Queensland, the assets in this region will remain our primary focus at this point in time.
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 Rock Chip results from recent exploration on EL007484, Tambo, Victoria, Australia. (Au = Gold, Bi = Bismuth). Highlights in BOLD;
| SampleID | Prospect Location | Width of Vein
(metres) |
Au (g/t) | Bi (ppm) |
| BTR_0001 | Swifts Creek Reef | 0.01 | 0.01 | 2 |
| BTR_0002 | Swifts Creek Reef | 0.01 | 0.01 | 2 |
| BTR_0003 | Swifts Creek Reef | 0.01 | 0.01 | 2 |
| BTR_0004 | Swifts Creek Reef | 0.01 | 0.01 | 2 |
| BTR_0005 | Swifts Creek Reef | 0.01 | 0.06 | 2 |
| BTR_0006 | Swifts Creek Reef | 0.5 | 1.35 | 3.62 |
| BTR_0007 | Swifts Creek Reef | 0.5 | 1.43 | 4.01 |
| BTR_0008 | Swifts Creek Reef | 0.15 | 0.01 | 2 |
| BTR_0009 | Swifts Creek Reef | 0.15 | 0.01 | 2 |
| BTR_0010 | Swifts Creek Reef | 0.15 | 0.01 | 2 |
| BTR_0011 | Swifts Creek Reef | 0.15 | 0.01 | 2 |
| BTR_0012 | Swifts Creek Reef | 0.3 | 0.01 | 2 |
| BTR_0013 | Swifts Creek Reef | 0.5 | 0.71 | 2 |
| BTDCR_0001 | Duke of Cornwall Reef | 0.3 | 0.05 | 2.49 |
| BTDCR_0002 | Duke of Cornwall Reef | 0.2 | 22.2 | 429 |
| BTDCR_0003 | Duke of Cornwall Reef | 0.3 | 0.03 | 2 |
| BTDCR_0004 | Duke of Cornwall Reef | 1 | 0.01 | 2 |
| BTDCR_0005 | Duke of Cornwall Reef | 1 | 0.01 | 2 |
| BTDCR_0006 | Duke of Cornwall Reef | 1 | 0.05 | 6.33 |
| BTDCR_0007 | Duke of Cornwall Reef | 1 | 0.01 | 2 |
| BTDCR_0008 | Duke of Cornwall Reef | 0.5 | 0.01 | 2 |
| BTDCR_0009 | Duke of Cornwall Reef | 1 | 0.01 | 2 |
| BTDCR_0010 | Duke of Cornwall Reef | 1 | 0.03 | 6.86 |
| BTDCR_0011 | Duke of Cornwall Reef | 1 | 0.01 | 9.94 |
| BTDCR_0012 | Duke of Cornwall Reef | 1 | 0.01 | 2 |
| BTDCR_0013 | Duke of Cornwall Reef | 1 | 0.01 | 2 |
| BTDCR_0014 | Duke of Cornwall Reef | 0.5 | 5.72 | 228 |
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 – 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
ECR Minerals #ECR – Drilling Progress Report for the Blue Moon Prospect at Bailieston, Victoria
ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce an update on the drilling progress at the Blue Moon Prospect, Victoria. This announcement contains the results for holes BBMDD005 to BBMDD008, which has tested the western extension to Blue Moon, identified in a previous drilling campaign completed in 2019 (see RNS dated 1st May 2019 here).
Drilling of associated holes BBMDD010 and BBMDD011 is currently underway in the same area (focusing on ECR’s best RC drilling intercept to date was completed in the 2019 campaign); and while drilling has been completed for associated drill hole BBMDD009, the sampling work is currently still underway.
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: “Despite some logistical problems faced by the drill team in completing the three remaining diamond drill holes (BBMDD009 to BBMDD011), I am pleased that results from the holes for the west strike extension are now in. While we intercepted the dyke rock and proved up mineralisation, which is encouraging, the Board are particularly keen to see the results and grades from holes BBMDD010 and BBMDD011, when drilling is completed. This drilling follows up the Company’s best RC drill intercept at Blue Moon to date. The results from this additional drilling should provide us with a complete in-detail overview for Blue Moon and complete the campaign there for this season.
The results from this final stage of drilling are expected to be received within the next few months and we look forward to updating shareholders at that time. In terms of next steps, our efforts will now be redirected to developing our assets on the ground at Creswick, Lolworth and Hurricane, along with an initial field visit to our Tambo license.”
HIGHLIGHTS
- Results from the remaining four diamond drillholes designed to test for continuity of mineralisation to the west of previous drilling now received.
- Best results include 0.5m @ 4.09 g/t Au from 155.2m and 0.25m @ 3.57 g/t Au from 161.3m (BBMDD006) and 0.5m @ 3.78 g/t Au from 210.8m and 0.3m @ 4.17 g/t Au from 215.3m in (BBMDD008).
Figure 1. Overview of diamond drilling completed to date, Blue Moon.
https://www.ecrminerals.com/images/2023/Fig1_230119_BBM.png
OPERATIONAL UPDATE
The Board announced its intention to test the westerly extent of the Blue Moon body following the successful drill intercepts from 2019’s RC Drilling program. A total of 1000m of diamond drilling was initially planned over 4 holes, and was subsequently expanded to 7 holes (see RNS dated 14th September 2022 here), and this drilling was completed just prior to Christmas, with results now received. An overview of drill intercepts from the campaign is shown in Figure 1 above.
Drilling throughout December 2022 took longer than anticipated with some maintenance required to the Company’s drill rig ‘Midas’, sustained wet weather and a pause in operations over the Christmas period (December 22nd to 9thJanuary 2023). Drilling of holes BBMDD006 and BBMDD007 struck broken (faulted) ground that also slowed the daily drill metres. Despite this, the team intercepted the Blue Moon dyke rock in all 4 drill holes. Gold mineralisation can be demonstrated to extend further to the west however given the low grades from these holes the Board have taken the view that a final decision regarding further drilling and exploration at Blue Moon will be made on receipt of the final results for holes BBMDD009, BBMDD010 and BBMDD011.
NEXT STEPS TO COMPLETE BLUE MOON CAMPAIGN FOR THIS SEASON
An additional campaign of three drill holes is now underway in the Blue Moon area. This includes drilling of holes BBMDD010 and BBMDD011 which is focused on the same area where ECR’s best RC drilling intercept to date was completed in 2019, and the Board expects that these results will determine the extent of the strike and width in this part of the Blue Moon prospect. The reason these holes were not completed first was largely due to logistics: the drill campaign took place on active farmland that requires timely drilling and Victoria has experienced one of the wettest winters on record which hampered initial drilling efforts during September and November. Associated hole BBMDD009 has also now been drilled underneath this zone, with sampling currently being completed and further updates will be provided in due course as appropriate.
Table 1. Drill intercepts containing reportable levels of gold > 0.11 g/t Au, holes BBMDD005-BBMDD008. Best grade intercepts highlighted in bold.
| Hole ID | From | To | Length | Sample No | Au g/t | *Gram x mts |
| BBMDD005 | 118.5 | 119.3 | 0.8 | HX4086 | 0.21 | 0.17 |
| BBMDD005 | 122.8 | 123.8 | 1 | HX4091 | 0.19 | 0.19 |
| BBMDD006 | 142.9 | 143.9 | 1 | HX4124 | 0.12 | 0.12 |
| BBMDD006 | 144.85 | 145.6 | 0.75 | HX4126 | 0.22 | 0.17 |
| BBMDD006 | 145.6 | 146.3 | 0.7 | HX4127 | 0.2 | 0.14 |
| BBMDD006 | 153 | 154 | 1 | HX4135 | 0.2 | 0.20 |
| BBMDD006 | 155.2 | 155.7 | 0.5 | HX4139 | 4.09 | 2.05 |
| BBMDD006 | 155.7 | 156.7 | 1 | HX4140 | 0.73 | 0.73 |
| BBMDD006 | 160.7 | 161.3 | 0.6 | HX4145 | 0.54 | 0.32 |
| BBMDD006 | 161.3 | 161.55 | 0.25 | HX4146 | 3.57 | 0.89 |
| BBMDD007 | 154.4 | 155.1 | 0.7 | HX4166 | 0.6 | 0.42 |
| BBMDD007 | 155.3 | 156 | 0.7 | HX4167 | 0.22 | 0.15 |
| BBMDD007 | 156 | 157 | 1 | HX4169 | 0.11 | 0.11 |
| BBMDD007 | 157 | 157.6 | 0.6 | HX4170 | 1.8 | 1.08 |
| BBMDD007 | 157.6 | 158.2 | 0.6 | HX4171 | 0.25 | 0.15 |
| BBMDD007 | 158.2 | 158.6 | 0.4 | HX4172 | 2.03 | 0.81 |
| BBMDD007 | 158.6 | 159.4 | 0.8 | HX4173 | 0.11 | 0.09 |
| BBMDD007 | 159.4 | 160.5 | 1.1 | HX4174 | 0.34 | 0.37 |
| BBMDD007 | 160.5 | 161.5 | 1 | HX4175 | 0.26 | 0.26 |
| BBMDD007 | 163.4 | 164 | 0.6 | HX4178 | 1.1 | 0.66 |
| BBMDD007 | 164 | 165 | 1 | HX4179 | 0.37 | 0.37 |
| BBMDD008 | 210.8 | 211.3 | 0.5 | HX4217 | 3.78 | 1.89 |
| BBMDD008 | 212.85 | 213.25 | 0.4 | HX4222 | 0.79 | 0.32 |
| BBMDD008 | 213.25 | 213.5 | 0.25 | HX4223 | 0.18 | 0.05 |
| BBMDD008 | 213.5 | 213.8 | 0.3 | HX4224 | 0.33 | 0.10 |
| BBMDD008 | 213.8 | 214.8 | 1 | HX4225 | 0.34 | 0.34 |
| BBMDD008 | 214.8 | 215.3 | 0.5 | HX4226 | 0.35 | 0.18 |
| BBMDD008 | 215.3 | 215.6 | 0.3 | HX4227 | 4.17 | 1.25 |
*Gram metres represents the contained Au metal within the reported length, calculated as interval (m) multiplied by grade (g/t Au)
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
ECR Minerals #ECR – Two Mineralisation Corridors Identified in Hole BH3DD032 at Bailieston, Victoria
ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce the final gold results from the 2022 drill program at the HR3 prospect at Bailieston.
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 Australian wholly owned subsidiary Mercator Gold Australia Pty Ltd (“MGA”).
ECR CEO Andrew Haythorpe commented: “Some very encouraging grades have emerged from these results, and in particular the average of 9.01g/t over 4m at hole BH3DD043 could very likely result in follow up work, which is supported by our Technical Director Adam Jones. We will now evaluate this full dataset, decide on the next steps and report back in due course.”
“Drilling at Blue Moon is progressing and I look forward to reporting the lab results back to you as soon as they arrive.”
HIGHLIGHTS
- Best results in BH3DD043 with a composited grade of 9.01 g/t Au over a drilled width of 4 metres.
- Further results from the Maori Anticline include 1m @ 4.96 g/t Au (BH3DD042) at a depth of 273m
- Multiple intersections along strike of the Scoulers Reef including 0.2m @ 9.22 g/t Au (BH3DD042), 0.5m @ 4.55 g/t Au (BH3DD037) and 1m @ 3.34 g/t Au (BH3DD038)
A plan of the HR3 Goldfield and the location of this reported drilling with the 10 ten intercepts can be found here:
Fig 1: https://www.ecrminerals.com/images/2022/fig1_221015_Final_Drilling_Results_2022_HR3.png
BACKGROUND TO DRILL PROGRAM
ECR Minerals have been drilling targets throughout 2022 on their Bailieston tenements located in Victoria, Australia. Our drilling activity has been predominantly within the HR3 Goldfield, focussed on the main NNW striking gold-quartz mineralised systems including Byron Reef, Scoulers Reef and the Maori Reef. Initial drilling by ECR in 2021 focussed on the Byron Reef and indicated that gold mineralisation was not continuous (see RNS 1 below).
In early 2022 the focus shifted to the Maori Reef which is the most easternly known vein system within the HR3 Goldfield. ECR geologists concluded that the Maori Reef is hosted within an anticlinal fold now called the ‘Maori Anticline’. Early drilling into this anticline has been successful (Holes BH3DD009, BH3DD010 and BH3DD011). Drilling continued to follow the anticlinal fold to the north and in depth with successful intersections in holes BH3DD019, BH3DD012 and BH3DD034, which contained visible gold (see RNS dated 22 November 2021 for more details of these drill hole results, a link of which is also set out below).
The reported drill results in this announcement are for the final drilling completed to date at HR3 and follow up the best results adjacent to hole BH3DD034, and in additional test drilling into the parallel quartz reef systems. Drilling was completed at the end of July 2022. Final results have just been received after long delays in laboratory turn-around due predominantly to issues relating to the COVID-19 pandemic.
Previous Drill results for HR3
- 22 December 2021 – BH3DD010, BH3DD011;
https://polaris.brighterir.com/public/ecr_minerals_plc/news/rns/story/wkn801w
- 23 December 2021 – Bailieston (HR3) Soil Sampling
https://polaris.brighterir.com/public/ecr_minerals_plc/news/rns/story/rmzlq5w
- 14 March 2022 – BH3DD012, BH3DD034 (Visible Gold)
https://polaris.brighterir.com/public/ecr_minerals_plc/news/rns/story/xeekpyx
- 22 April 2022 – BH3DD027 (Hard-Up Reef)
https://polaris.brighterir.com/public/ecr_minerals_plc/news/rns/story/w0mnmnx
DETAILS OF FINAL DRILLING
A total of eight holes were drilled in this final stage of drilling, and a summary of the work and associated results are set out below. Full details of the drill results are set out at the end of this announcement:
BH3DD036
BH3DD036 was drilled underneath the north end of the Maori Reef at the point where historical workings ended. The Maori Anticline was passed through at 92m where the hinge faulted. The best result was 0.3m @ 0.28 g/t Au from 176m. Drilling ended at a depth of 206.55m
BH3DD037
The drill team moved to the centre of the HR3 Goldfield to test the Scoulers Reef near the surface. A selected number of the following drillholes were also extended to test the Maori Anticline at depth. BH3DD037 drilled underneath the coincidental reported soil ‘Anomaly C’ (see RNS dated 23 December 2021, a link for which is above) and the location of earlier high-grade rock chips. Drilling results show a broad zone of lower grade mineralisation (see Table 2 below). The best intersection was 0.5m @ 4.55 g/t Au from 33.6m which relates to the Scoulers Reef. The hole ended at 115.8m.
BH3DD038
This hole drilled towards the east, passing through the Scoulers Reef at 27m depth and the Maori Anticline at 280m depth. The best intercept was 1m @ 3.34 g/t Au from 27m. A speck of visible gold was noted in thin quartz veinlets at 175.8m, however this was not reflected in the sampled grade of (0.4m @ 0.42 g/t Au from 175.8m). Drilling ended at a depth of 308.5m.
BH3DD039
Hole BH3DD039 was drilled underneath soil anomaly ‘B’ as reported in December 2021 (see RNS dated 23 December 2021, a link for which is above). Despite the presence of anomalous gold, no significant results greater than 1 g/t Au where intersected. Best result was 1m @ 0.96 g/t Au from 62.7m. This hole finished drilling at 140.8m.
BH3DD040
This hole was drilled towards the intersection of the Maori and Hard-Up Reef at depth. The Maori Reef was intersected at 242.3m with a grade of 1.96 g/t Au over a length of 0.35m. The best result from this hole was from the Scoulers Reef with 0.4m @ 3.99 g/t Au from 13.6m depth. This hole ended at 275.1m
BH3DD041
Whilst drilling continued towards the east into the Maori Antcline and Scoulers Reef, the decision was taken to drill a preliminary hole into the Byron Reef to the south of the old Byron Mine (see figure 1 above) after locating an exploration percussion hole from an earlier phase of exploration in the 1980’s. Historical documentation showed the hole BLP140 had previously yielded 3m @ 28 g/t Au from 33m. ECR’s drilling revealed the presence of a major shear zone containing sulphide and quartz mineralisation around 104m in depth. No significant gold was intercepted with the best result being 0.4m @ 0.53 g/t Au from 64.6m. This hole finished at 139.8m
BH3DD042
This hole was intended to drill deep into the Maori Anticline underneath the previous drilling of BH3DD017 and BH3DD012. The anticline was successfully identified at 273m where mineralisation was sampled returning 1m @ 4.96 g/t Au. The Scoulers Reef was also intersected in the upper portion of this hole with an intercept of 0.2m @ 9.22 g/t Au from 41.1m drill depth. This hole ended at 356.6m.
BH3DD043
Hole BH3DD043 was the last drill hole completed at HR3 this year. The hole was intentionally drilled to intercept the Maori Anticline approximately 25m to the immediate north of nearby drillholes BH3DD034, BH3DD035 and BH3DD019. The best mineralisation drilled was identified in a footwall vein to the Maori Anticline, with best intercepts beginning at a depth of 54m including 1m @ 4.82 g/t Au followed immediately by adjacent high-grade intercepts of 1m @ 5.54 g/t Au, 1m @ 9.79 g/t Au and 1m @ 15.91 g/t Au. This high-grade zone represents a length-weighted composite grade of 4m @ 9.01 g/t Au. This is the best length multiplied by grade intercept drilled to date in HR3. Drilling ended at a final depth of 194.5m.
SUMMARY OF EXPLORATION
Drilling at HR3 throughout the 2021-2022 period has been largely successful. Notable outcomes include:
- Identifying the Maori Anticline as a major host to gold mineralisation at the HR3 Goldfield.
- Initial high-grade intercepts located underneath the Maori Reef,Hard-Up Reef intersections.
- Locating and testing gold mineralisation at depth and strike within the Maori Anticline. An approximate strike length of 300m has now been initially drilled. Mineralisation is open along strike to the north and south.
- Exploration work during this period has also successfully identified a close spatial relationship of high arsenic (Arsenopyrite) and high antimony (Stibnite) ratios as pathfinders to gold mineralisation.
Table 1. Summary of the top ten drill intercepts containing reportable levels of gold for holes BH3DD036-BH3DD043. Arranged by hole name and depth.
| HOLE | From (m) | To (m) | Interval (m) | Au (g/t) | gram metres* |
| BH3DD037 | 33.6 | 34.1 | 0.5 | 4.55 | 2.27 |
| BH3DD037 | 40.6 | 41 | 0.4 | 3.61 | 1.45 |
| BH3DD038 | 27 | 28 | 1 | 3.34 | 3.34 |
| BH3DD040 | 13.6 | 14 | 0.4 | 3.99 | 1.60 |
| BH3DD042 | 41.1 | 41.3 | 0.2 | 9.22 | 1.84 |
| BH3DD042 | 273 | 274 | 1 | 4.96 | 4.96 |
| BH3DD043 | 54 | 55 | 1 | 4.82 | 4.82 |
| BH3DD043 | 55 | 56 | 1 | 5.54 | 5.54 |
| BH3DD043 | 56 | 57 | 1 | 9.79 | 9.79 |
| BH3DD043 | 57 | 58 | 1 | 15.91 | 15.91 |
*Gram metres represents the contained Au metal within the reported length, calculated as interval (m) multiplied by grade (g/t Au)
Table 2. Drill intercepts for all reportable levels of gold above 0.1 g/t Au for holes BH3DD036-BH3DD043.
*Gram metres represents the contained Au metal within the reported length, calculated as interval (m) multiplied by grade (g/t Au)
| BH3DD036 | ||||
| From (m) | To (m) | Grade (g/t Au) | Interval (m) | Gram x Metres* |
| 55 | 55.8 | 0.28 | 0.8 | 0.22 |
| 57 | 57.3 | 0.23 | 0.3 | 0.07 |
| 65.1 | 65.4 | 0.28 | 0.3 | 0.09 |
| 118.8 | 119.2 | 0.15 | 0.4 | 0.06 |
| 176 | 176.3 | 0.28 | 0.3 | 0.08 |
| BH3DD037 | ||||
| From (m) | To (m) | Grade (g/t Au) | Interval (m) | Gram x Metres |
| 4.7 | 5.7 | 1.81 | 1 | 1.81 |
| 5.7 | 6.7 | 1.69 | 1 | 1.69 |
| 9.5 | 9.7 | 0.12 | 0.2 | 0.02 |
| 11.5 | 11.8 | 1.25 | 0.3 | 0.38 |
| 12.25 | 12.7 | 0.61 | 0.45 | 0.27 |
| 16 | 16.6 | 0.26 | 0.6 | 0.15 |
| 16.6 | 17 | 0.51 | 0.4 | 0.20 |
| 17 | 17.5 | 0.68 | 0.5 | 0.34 |
| 28 | 29 | 1.26 | 1 | 1.26 |
| 29.75 | 30.25 | 2.63 | 0.5 | 1.31 |
| 30.8 | 31.8 | 0.17 | 1 | 0.17 |
| 31.8 | 32.3 | 1.97 | 0.5 | 0.98 |
| 32.3 | 33 | 2.50 | 0.7 | 1.75 |
| 33 | 33.35 | 0.79 | 0.35 | 0.28 |
| 33.6 | 34.1 | 4.55 | 0.5 | 2.27 |
| 35.1 | 35.5 | 0.27 | 0.4 | 0.11 |
| 35.5 | 36.5 | 2.92 | 1 | 2.92 |
| 36.5 | 37.5 | 1.38 | 1 | 1.38 |
| 37.5 | 38 | 2.82 | 0.5 | 1.41 |
| 38 | 38.5 | 0.42 | 0.5 | 0.21 |
| 38.5 | 39.5 | 0.58 | 1 | 0.58 |
| 39.5 | 40.2 | 0.37 | 0.7 | 0.26 |
| 40.2 | 40.6 | 1.31 | 0.4 | 0.53 |
| 40.6 | 41 | 3.61 | 0.4 | 1.45 |
| 41 | 42 | 1.03 | 1 | 1.03 |
| 42 | 43 | 0.23 | 1 | 0.23 |
| 71.8 | 72 | 0.15 | 0.2 | 0.03 |
| 72 | 72.6 | 0.17 | 0.6 | 0.10 |
| 72.6 | 72.8 | 0.50 | 0.2 | 0.10 |
| 72.8 | 74 | 0.53 | 1.2 | 0.63 |
| 74 | 75 | 0.22 | 1 | 0.22 |
| 75 | 76 | 0.57 | 1 | 0.57 |
| 76 | 77 | 0.69 | 1 | 0.69 |
| 94.5 | 95.5 | 0.32 | 1 | 0.32 |
| 95.5 | 96.5 | 0.46 | 1 | 0.46 |
| 97.5 | 98.2 | 0.13 | 0.7 | 0.09 |
| 105.55 | 106 | 0.24 | 0.45 | 0.11 |
| 109 | 110 | 0.21 | 1 | 0.21 |
| BH3DD038 | ||||
| From (m) | To (m) | Grade (g/t Au) | Interval (m) | Gram x Metres |
| 3.45 | 4.45 | 1.22 | 1 | 1.22 |
| 4.45 | 5 | 0.90 | 0.55 | 0.49 |
| 5 | 5.4 | 1.91 | 0.4 | 0.77 |
| 5.4 | 6 | 1.06 | 0.6 | 0.63 |
| 18 | 19 | 0.19 | 1 | 0.19 |
| 19 | 20 | 0.81 | 1 | 0.81 |
| 25 | 26 | 0.36 | 1 | 0.36 |
| 26 | 27 | 1.28 | 1 | 1.28 |
| 27 | 28 | 3.34 | 1 | 3.34 |
| 28 | 29 | 0.44 | 1 | 0.44 |
| 30 | 31 | 0.28 | 1 | 0.28 |
| 33.7 | 33.9 | 0.22 | 0.2 | 0.04 |
| 35.5 | 36.3 | 0.35 | 0.8 | 0.28 |
| 56.5 | 57.5 | 0.44 | 1 | 0.44 |
| 57.5 | 58 | 0.76 | 0.5 | 0.38 |
| 58 | 58.3 | 1.62 | 0.3 | 0.49 |
| 58.3 | 58.6 | 1.54 | 0.3 | 0.46 |
| 58.6 | 59 | 1.53 | 0.4 | 0.61 |
| 59 | 59.4 | 1.92 | 0.4 | 0.77 |
| 59.4 | 60.4 | 0.17 | 1 | 0.17 |
| 60.4 | 61.2 | 0.17 | 0.8 | 0.13 |
| 61.2 | 61.4 | 1.23 | 0.2 | 0.25 |
| 61.4 | 62.2 | 0.37 | 0.8 | 0.30 |
| 62.2 | 63 | 0.19 | 0.8 | 0.15 |
| 63 | 63.4 | 0.60 | 0.4 | 0.24 |
| 66.3 | 66.8 | 0.26 | 0.5 | 0.13 |
| 66.8 | 67.4 | 0.82 | 0.6 | 0.49 |
| 67.4 | 68.2 | 0.81 | 0.8 | 0.65 |
| 170.6 | 170.9 | 0.18 | 0.3 | 0.06 |
| 170.9 | 171.9 | 0.18 | 1 | 0.18 |
| 173.5 | 174.4 | 0.59 | 0.9 | 0.53 |
| 175.4 | 175.8 | 0.21 | 0.4 | 0.09 |
| 175.8 | 176 | 0.42 | 0.2 | 0.08 |
| 176 | 176.6 | 0.35 | 0.6 | 0.21 |
| 176.6 | 177.6 | 0.27 | 1 | 0.27 |
| 177.6 | 178 | 0.22 | 0.4 | 0.09 |
| 178 | 178.7 | 0.64 | 0.7 | 0.45 |
| 178.7 | 179.3 | 0.31 | 0.6 | 0.19 |
| 199 | 199.4 | 0.16 | 0.4 | 0.06 |
| 201.4 | 202 | 0.16 | 0.6 | 0.09 |
| 237.35 | 237.55 | 0.25 | 0.2 | 0.05 |
| 237.55 | 238 | 0.16 | 0.45 | 0.07 |
| 296.3 | 296.5 | 0.90 | 0.2 | 0.18 |
| 296.5 | 296.7 | 0.20 | 0.2 | 0.04 |
| 296.7 | 297 | 0.57 | 0.3 | 0.17 |
| 297 | 298 | 0.20 | 1 | 0.20 |
| 298 | 298.5 | 0.38 | 0.5 | 0.19 |
| 298.5 | 299 | 0.70 | 0.5 | 0.35 |
| 299 | 299.35 | 0.55 | 0.35 | 0.19 |
| 299.5 | 299.65 | 1.13 | 0.15 | 0.17 |
| 300.2 | 300.6 | 0.19 | 0.4 | 0.08 |
| BH3DD039 | ||||
| From (m) | To (m) | Grade (g/t Au) | Interval (m) | Gram x Metres |
| 61.7 | 62.7 | 0.47 | 1 | 0.47 |
| 62.7 | 63.7 | 0.96 | 1 | 0.96 |
| 63.7 | 64.7 | 0.19 | 1 | 0.19 |
| 65.5 | 66 | 0.14 | 0.5 | 0.07 |
| 67 | 68 | 0.17 | 1 | 0.17 |
| 72.4 | 72.7 | 0.21 | 0.3 | 0.06 |
| 72.7 | 73 | 0.25 | 0.3 | 0.07 |
| 74.35 | 74.55 | 0.13 | 0.2 | 0.03 |
| 75.5 | 75.8 | 0.31 | 0.3 | 0.09 |
| 90.2 | 90.6 | 0.17 | 0.4 | 0.07 |
| 96 | 97 | 0.18 | 1 | 0.18 |
| 97.4 | 98.1 | 0.21 | 0.7 | 0.15 |
| 98.5 | 98.9 | 0.42 | 0.4 | 0.17 |
| 98.9 | 99.9 | 0.40 | 1 | 0.40 |
| 106.5 | 107 | 0.16 | 0.5 | 0.08 |
| 107 | 108 | 0.34 | 1 | 0.34 |
| BH3DD040 | ||||
| From (m) | To (m) | Grade (g/t Au) | Interval (m) | Gram x Metres |
| 13.6 | 14 | 3.99 | 0.4 | 1.60 |
| 15 | 15.35 | 0.24 | 0.35 | 0.09 |
| 15.8 | 16.8 | 0.41 | 1 | 0.41 |
| 16.8 | 17.05 | 0.68 | 0.25 | 0.17 |
| 17.05 | 17.4 | 1.65 | 0.35 | 0.58 |
| 17.4 | 18 | 2.61 | 0.6 | 1.56 |
| 22.3 | 22.7 | 0.89 | 0.4 | 0.36 |
| 22.7 | 23 | 1.66 | 0.3 | 0.50 |
| 24.4 | 25.4 | 1.82 | 1 | 1.82 |
| 25.4 | 26.1 | 0.20 | 0.7 | 0.14 |
| 31.6 | 32.1 | 1.12 | 0.5 | 0.56 |
| 44 | 44.6 | 0.64 | 0.6 | 0.38 |
| 46.7 | 47.5 | 0.22 | 0.8 | 0.17 |
| 48.55 | 49 | 0.77 | 0.45 | 0.34 |
| 52.65 | 53.2 | 0.90 | 0.55 | 0.49 |
| 144.6 | 145.1 | 0.77 | 0.5 | 0.39 |
| 145.1 | 146.3 | 0.29 | 1.2 | 0.35 |
| 178 | 178.3 | 0.20 | 0.3 | 0.06 |
| 189 | 189.6 | 0.17 | 0.6 | 0.10 |
| 189.6 | 190.5 | 1.22 | 0.9 | 1.09 |
| 190.5 | 191.2 | 0.24 | 0.7 | 0.16 |
| 191.2 | 191.6 | 1.17 | 0.4 | 0.47 |
| 191.6 | 192 | 0.35 | 0.4 | 0.14 |
| 192 | 193 | 0.17 | 1 | 0.17 |
| 193.7 | 194.7 | 0.39 | 1 | 0.39 |
| 194.7 | 195.7 | 0.54 | 1 | 0.54 |
| 195.7 | 196.7 | 0.13 | 1 | 0.13 |
| 204.5 | 205 | 0.44 | 0.5 | 0.22 |
| 205 | 206 | 0.17 | 1 | 0.17 |
| 206 | 207 | 0.26 | 1 | 0.26 |
| 210 | 211 | 0.44 | 1 | 0.44 |
| 211 | 211.45 | 0.41 | 0.45 | 0.18 |
| 212.45 | 213.4 | 0.78 | 0.95 | 0.74 |
| 214 | 214.35 | 0.43 | 0.35 | 0.15 |
| 214.35 | 214.6 | 0.95 | 0.25 | 0.24 |
| 214.6 | 215.2 | 0.80 | 0.6 | 0.48 |
| 215.2 | 215.7 | 0.19 | 0.5 | 0.09 |
| 219.4 | 219.75 | 0.29 | 0.35 | 0.10 |
| 225.5 | 225.75 | 0.34 | 0.25 | 0.09 |
| 238.7 | 239.2 | 0.16 | 0.5 | 0.08 |
| 240.2 | 241.2 | 0.78 | 1 | 0.78 |
| 241.65 | 242.3 | 1.11 | 0.65 | 0.72 |
| 242.3 | 242.65 | 1.96 | 0.35 | 0.69 |
| 242.65 | 243.1 | 0.21 | 0.45 | 0.10 |
| 258.6 | 259.3 | 0.17 | 0.7 | 0.12 |
| 259.3 | 259.65 | 1.13 | 0.35 | 0.40 |
| 259.65 | 260 | 0.67 | 0.35 | 0.23 |
| 260 | 260.5 | 0.23 | 0.5 | 0.12 |
| BH3DD041 | ||||
| From (m) | To (m) | Grade (g/t Au) | Interval (m) | Gram x Metres |
| 41.7 | 42.25 | 0.27 | 0.55 | 0.15 |
| 42.25 | 42.7 | 0.42 | 0.45 | 0.19 |
| 49.2 | 49.6 | 0.15 | 0.4 | 0.06 |
| 64.6 | 65 | 0.53 | 0.4 | 0.21 |
| 91.7 | 92.7 | 0.22 | 1 | 0.22 |
| 104 | 104.25 | 0.12 | 0.25 | 0.03 |
| 104.25 | 104.6 | 0.18 | 0.35 | 0.06 |
| BH3DD042 | ||||
| From (m) | To (m) | Grade (g/t Au) | Interval (m) | Gram x Metres |
| 37.55 | 38.4 | 0.16 | 0.85 | 0.13 |
| 40.8 | 41.1 | 1.79 | 0.3 | 0.54 |
| 41.1 | 41.3 | 9.22 | 0.2 | 1.84 |
| 41.3 | 42 | 1.30 | 0.7 | 0.91 |
| 44 | 45 | 0.17 | 1 | 0.17 |
| 56.8 | 57 | 0.20 | 0.2 | 0.04 |
| 61.6 | 61.85 | 0.23 | 0.25 | 0.06 |
| 73.2 | 73.5 | 0.24 | 0.3 | 0.07 |
| 74.7 | 75.05 | 0.25 | 0.35 | 0.09 |
| 75.05 | 75.4 | 0.21 | 0.35 | 0.07 |
| 81.45 | 82 | 0.17 | 0.55 | 0.09 |
| 103.3 | 103.6 | 0.19 | 0.3 | 0.06 |
| 103.6 | 103.95 | 0.65 | 0.35 | 0.23 |
| 103.95 | 104.5 | 0.33 | 0.55 | 0.18 |
| 104.5 | 105.2 | 0.38 | 0.7 | 0.27 |
| 105.2 | 106.2 | 0.24 | 1 | 0.24 |
| 106.2 | 106.8 | 0.82 | 0.6 | 0.49 |
| 106.8 | 107.2 | 0.62 | 0.4 | 0.25 |
| 107.2 | 107.6 | 1.08 | 0.4 | 0.43 |
| 107.6 | 108.7 | 0.33 | 1.1 | 0.36 |
| 108.7 | 108.9 | 0.41 | 0.2 | 0.08 |
| 109.1 | 109.7 | 0.26 | 0.6 | 0.16 |
| 109.7 | 110.7 | 0.53 | 1 | 0.53 |
| 110.7 | 111 | 0.38 | 0.3 | 0.12 |
| 111 | 111.6 | 1.13 | 0.6 | 0.68 |
| 111.6 | 112.6 | 1.45 | 1 | 1.45 |
| 112.6 | 113.6 | 1.36 | 1 | 1.36 |
| 113.6 | 114.4 | 0.66 | 0.8 | 0.52 |
| 114.4 | 114.7 | 1.09 | 0.3 | 0.33 |
| 115 | 115.7 | 0.98 | 0.7 | 0.69 |
| 115.7 | 116.2 | 0.30 | 0.5 | 0.15 |
| 118.2 | 118.7 | 0.32 | 0.5 | 0.16 |
| 118.7 | 119 | 0.94 | 0.3 | 0.28 |
| 119 | 119.25 | 1.07 | 0.25 | 0.27 |
| 119.25 | 119.7 | 1.48 | 0.45 | 0.67 |
| 119.7 | 120.1 | 0.99 | 0.4 | 0.39 |
| 120.1 | 120.4 | 0.72 | 0.3 | 0.22 |
| 149.25 | 150.2 | 0.16 | 0.95 | 0.15 |
| 152.1 | 152.4 | 0.17 | 0.3 | 0.05 |
| 153.7 | 154.3 | 0.16 | 0.6 | 0.09 |
| 169.9 | 170.2 | 0.26 | 0.3 | 0.08 |
| 198.9 | 199.5 | 0.18 | 0.6 | 0.11 |
| 205.05 | 206.2 | 0.30 | 1.15 | 0.35 |
| 247.8 | 248.6 | 0.22 | 0.8 | 0.17 |
| 248.6 | 249.4 | 0.31 | 0.8 | 0.25 |
| 252 | 252.7 | 0.48 | 0.7 | 0.34 |
| 252.7 | 253 | 0.30 | 0.3 | 0.09 |
| 267.9 | 268.7 | 0.22 | 0.8 | 0.17 |
| 269.9 | 270.9 | 0.82 | 1 | 0.82 |
| 270.9 | 271.9 | 0.38 | 1 | 0.38 |
| 271.9 | 272.4 | 0.43 | 0.5 | 0.22 |
| 273 | 274 | 4.96 | 1 | 4.96 |
| 274 | 275 | 0.22 | 1 | 0.22 |
| 309.8 | 310.3 | 0.35 | 0.5 | 0.18 |
| 311 | 311.6 | 0.19 | 0.6 | 0.11 |
| 311.9 | 312.5 | 0.25 | 0.6 | 0.15 |
| 314.05 | 314.3 | 0.29 | 0.25 | 0.07 |
| 349.8 | 350.25 | 0.16 | 0.45 | 0.07 |
| BH3DD043 | ||||
| From (m) | To (m) | Grade (g/t Au) | Interval (m) | Gram x Metres |
| 35.9 | 37 | 1.54 | 1.1 | 1.69 |
| 38 | 38.2 | 0.79 | 0.2 | 0.16 |
| 44 | 45 | 0.56 | 1 | 0.56 |
| 45 | 46 | 1.54 | 1 | 1.54 |
| 46 | 47 | 1.19 | 1 | 1.19 |
| 53 | 54 | 0.42 | 1 | 0.42 |
| 54 | 55 | 4.82 | 1 | 4.82 |
| 55 | 56 | 5.54 | 1 | 5.54 |
| 56 | 57 | 9.79 | 1 | 9.79 |
| 57 | 58 | 15.91 | 1 | 15.91 |
| 58 | 59 | 1.87 | 1 | 1.87 |
| 59 | 59.3 | 1.45 | 0.3 | 0.43 |
| 59.3 | 59.7 | 0.39 | 0.4 | 0.16 |
| 59.7 | 60.2 | 0.22 | 0.5 | 0.11 |
| 60.9 | 61.6 | 2.52 | 0.7 | 1.77 |
| 61.6 | 62 | 0.29 | 0.4 | 0.12 |
| 63 | 64 | 0.20 | 1 | 0.20 |
| 64 | 65 | 0.34 | 1 | 0.34 |
| 65 | 66 | 0.20 | 1 | 0.20 |
| 68 | 69 | 0.17 | 1 | 0.17 |
| 69 | 69.8 | 0.52 | 0.8 | 0.42 |
| 69.8 | 70.9 | 0.22 | 1.1 | 0.24 |
| 72 | 73 | 0.24 | 1 | 0.24 |
| 98 | 98.5 | 0.31 | 0.5 | 0.16 |
| 109.4 | 110.4 | 0.17 | 1 | 0.17 |
| 110.4 | 111.2 | 0.22 | 0.8 | 0.17 |
| 111.2 | 112 | 0.25 | 0.8 | 0.20 |
| 123.2 | 124 | 0.24 | 0.8 | 0.20 |
| 124 | 125 | 0.31 | 1 | 0.31 |
| 150.4 | 150.8 | 0.69 | 0.4 | 0.27 |
| 158.8 | 159.1 | 0.98 | 0.3 | 0.29 |
| 159.1 | 160.1 | 0.72 | 1 | 0.72 |
| 160.1 | 161 | 0.36 | 0.9 | 0.32 |
| 161 | 162 | 0.43 | 1 | 0.43 |
| 189.4 | 190 | 1.17 | 0.6 | 0.70 |
Table 3. Gram-metre intersections for BH3DD036-BH3DD043 (for intersections containing => 1g/t Au)
*Gram metres represents the contained Au metal within the reported length, calculated as interval (m) multiplied by grade (g/t Au)
| BH3DD037 | ||||
| From (m) | To (m) | Grade (g/t Au) | Interval (m) | Gram x Metres |
| 4.7 | 5.7 | 1.81 | 1 | 1.81 |
| 5.7 | 6.7 | 1.69 | 1 | 1.69 |
| 28 | 29 | 1.26 | 1 | 1.26 |
| 29.75 | 30.25 | 2.63 | 0.5 | 1.31 |
| 32.3 | 33 | 2.50 | 0.7 | 1.75 |
| 33.6 | 34.1 | 4.55 | 0.5 | 2.27 |
| 35.5 | 36.5 | 2.92 | 1 | 2.92 |
| 36.5 | 37.5 | 1.38 | 1 | 1.38 |
| 37.5 | 38 | 2.82 | 0.5 | 1.41 |
| 40.6 | 41 | 3.61 | 0.4 | 1.45 |
| 41 | 42 | 1.03 | 1 | 1.03 |
| BH3DD038 | ||||
| From (m) | To (m) | Grade (g/t Au) | Interval (m) | Gram x Metres |
| 3.45 | 4.45 | 1.22 | 1 | 1.22 |
| 26 | 27 | 1.28 | 1 | 1.28 |
| 27 | 28 | 3.34 | 1 | 3.34 |
| BH3DD040 | ||||
| From (m) | To (m) | Grade (g/t Au) | Interval (m) | Gram x Metres |
| 13.6 | 14 | 3.99 | 0.4 | 1.60 |
| 17.4 | 18 | 2.61 | 0.6 | 1.56 |
| 24.4 | 25.4 | 1.82 | 1 | 1.82 |
| 189.6 | 190.5 | 1.22 | 0.9 | 1.09 |
| BH3DD042 | ||||
| From (m) | To (m) | Grade (g/t Au) | Interval (m) | Gram x Metres |
| 41.1 | 41.3 | 9.22 | 0.2 | 1.84 |
| 111.6 | 112.6 | 1.45 | 1 | 1.45 |
| 112.6 | 113.6 | 1.36 | 1 | 1.36 |
| 273 | 274 | 4.96 | 1 | 4.96 |
| BH3DD043 | ||||
| From (m) | To (m) | Grade (g/t Au) | Interval (m) | Gram x Metres |
| 35.9 | 37 | 1.54 | 1.1 | 1.69 |
| 45 | 46 | 1.54 | 1 | 1.54 |
| 46 | 47 | 1.19 | 1 | 1.19 |
| 54 | 55 | 4.82 | 1 | 4.82 |
| 55 | 56 | 5.54 | 1 | 5.54 |
| 56 | 57 | 9.79 | 1 | 9.79 |
| 57 | 58 | 15.91 | 1 | 15.91 |
| 58 | 59 | 1.87 | 1 | 1.87 |
| 60.9 | 61.6 | 2.52 | 0.7 | 1.77 |
SUMMARY
Whilst varied, the Directors are pleased with the outcome of the final results from HR3. These results show that mineralisation is still open to the north of hole BH3DD043 and at depth. Technical director Adam Jones will evaluate the potential of follow up drilling for these results over the coming Australian summer period.
In the meantime, drilling continues at the nearby Blue Moon prospect with two holes now completed and samples submitted to the laboratory for analysis. Drilling is planned to continue into the Christmas holiday period.
Soil sampling and rock chip sampling have been completed on adjacent parallel quartz reefs on the Creswick tenements (EL6184) with results expected by the end of this month. The outcome of this work will delineate further drill targets for the 2023 drilling season.
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 |
||||
| BlytheRay | Tel: +44 (0) 207 138 3204 | |||
| Public Relations | ||||
| Tim Blythe
|
||||
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.
https://mercatorgold.com.au/
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.
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 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 and can potentially receive up to US$2.7 million in aggregate across all licences.
ECR Minerals #ECR – Drilling Commences 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 that drilling has commenced at the Blue Moon prospect at Bailieston using the Company’s own ‘MIDAS’ drill rig.
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 and drilled by ECR’s Australian wholly owned subsidiary Mercator Gold Australia Pty Ltd (“MGA”).
ECR CEO Andrew Haythorpe commented: “As I stated in our drill plan announcement on 11 August 2022, the previous Blue Moon campaign in 2019 recorded consistent levels of mineralisation at hole BBM007 of 15m @ 3.81 g/t gold. It was considered then that these numbers could indicate a potentially commercial discovery, although of course this cannot be guaranteed. The four holes we are drilling now will ‘twin’ with the previous RC drill holes up to and west of the point at which the previous RC drill program ended in 2019 and will initially seek to confirm previous consistency and levels of mineralisation. A successful intersection could potentially double the strike extent of the prospect, although we cannot of course guarantee this will take place.”
“I look forward to reporting back as soon as possible with early results from the Blue Moon campaign.”
HIGHLIGHTS
- MIDAS drill rig team commences diamond drilling an initial four holes covering 1000 metres.
- The campaign will follow-up good results from the RC Drilling finished in 2019.
- Plans are already in place to expand the drilling programme subject to results.
An overview plan of the planned drill sites can be found here:
Fig 1: https://www.ecrminerals.com/images/2022/fig1_BBM_DD_Planned_2022.png
BLUE MOON PROSPECT AND DRILL PLAN
The Blue Moon prospect is located 8.5km directly south of the currently drilled HR3 prospect. The mineralisation at Blue Moon is hosted within a massive sandstone body striking east to west which differs to the majority of other gold prospects within the region that usually strike north-south. In addition, quartz mineralisation is generally absent, which as a result means that historic prospectors do not appear to have discovered the outcrop. RC drilling in 2019 shows gold mineralisation to be associated with disseminated sulphide, present as arsenopyrite. The eastern end of the known outcrop has been cut by an interpreted cross fault.
As announced on 11 August 2022 (link here to announcement), drilling will be undertaken using ECR’s owned and operated diamond drill rig named ‘MIDAS’. Initial drillholes will be collared within the public track easement as shown in (fig 1 above). From these two locations, drilling will firstly investigate the possible strike extension of the Blue Moon prospect west of and at the point where the RC drill program in 2019 finished. Four initial holes are planned for an approximate total of 1000m, the outcome of which will determine further drilling. If the planned drilling successfully intersects mineralisation, this has potential to double the strike extent of the prospect.
Previous drilling at Blue Moon only covered a small section of the outcrop. The deposit is open at depth and also along strike to the west and east. Permissions from landholders are currently in progress to explore the potential strike further to the east where an interpretative cross fault ends the known current outcrop. Plans are already in place to expand the drilling programme subject to results from the initial four holes.
The style of the Blue Moon mineralisation also raises further questions over other potential opportunities within the region to discover another ‘Blue Moon’. ECR is well positioned in this regard, with adjacent exploration tenements to EL5433, covering similar regional geology awaiting approval
OVERVIEW OF PREVIOUS EXPLORATION WORK
Three diamond drillholes and twelve RC drillholes were completed during the 2018 and 2019 period. This drilling is broadly spaced over a strike length of 110m, and the deepest intercept isn’t more than 175m below surface. The RC drilling campaign during 2019 showed promise on the most westerly drill section where the best results have included 2m @ 17.87 g/t Au from 51m (RC hole BBM007) and 3m @ 3.88 g/t Au from 169m (RC hole BBM006). It is emphasised that both these intercepts are supported within part of a broader zone of lower grade mineralisation such as 15m @ 3.81 g/t Au (BBM007) and 11m @ 2.42 g/t Au (BBM007). As such, these increased widths could be supported by grades of potential economic interest, but it is not guaranteed. Drilling to date has not continued into and across the track easement to the west of the RC Drilling (see fig 1 above).
Results from the 2019 RC drill program can be found in the announcement dated 1 May 2019 “New Gold Discovery-Blue Moon Deposit, Victoria, Australia” here.
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 |
||||
| BlytheRay | Tel: +44 (0) 207 138 3204 | |||
| Public Relations | ||||
| Tim Blythe
|
||||
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 (EL5433) and Creswick (EL6148) 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 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 and can potentially receive up to US$2.7 million in aggregate across all licences
ECR Minerals #ECR – Planned Follow-up Drilling in early September at Blue Moon Prospect, Bailieston, Victoria
ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to release the upcoming plans and intentions for further drilling at the Blue Moon prospect in early September 2022.
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 Australian wholly owned subsidiary Mercator Gold Australia Pty Ltd (“MGA”).
ECR CEO Andrew Haythorpe commented: “The style of mineralisation at Blue Moon is intriguing. Compared to the scale of mineralisation seen at HR3, where typically a result could be 50cm across, we are looking at potential widths of around 7m. The previous Blue Moon campaign in 2019 recorded consistent mineralisation at hole BBM007 of 15m @ 3.81 g/t gold, which could potentially contain commercial levels of mineralisation.”
“I look forward to reporting back on the upcoming 2022 drilling campaign at Blue Moon.”
ECR Chairman David Tang added: “Along with the ECR board, I am very much enthused by the potential opportunity on offer at Blue Moon. Our company has a portfolio of what we consider to be valuable gold exploration assets across Victoria, but I know Andrew and Adam view Blue Moon as an asset with significant potential, and as such are very keen to commence work there. I very much look forward to further progress updates in the coming weeks.”
HIGHLIGHTS
- Permits in place for planned diamond drilling for an initial four holes over 1000 metres, anticipated to begin in early September 2022.
- Drilling designed to follow-up good results from the RC Drilling finished in 2019.
- Plans are already in place to expand the drilling programme subject to results.
An overview plan of the planned drill sites can be found here:
Fig 1: https://www.ecrminerals.com/images/2022/fig1_BBM_DD_Planned_2022.png
BLUE MOON PROSPECT
The Blue Moon prospect is located 8.5km directly south of the currently drilled HR3 prospect. The mineralisation at Blue Moon is hosted within a massive sandstone body striking east to west which differs to the majority of other gold prospects within the region that usually strike north-south. In addition, quartz mineralisation is generally absent, which as a result means that historic prospectors do not appear to have discovered the outcrop. RC drilling in 2019 shows gold mineralisation to be associated with disseminated sulphide, present as arsenopyrite. The eastern end of the known outcrop has been cut by an interpreted cross fault.
OVERVIEW OF PREVIOUS EXPLORATION WORK
Three diamond drillholes and twelve RC drillholes were completed during the 2018 and 2019 period. This drilling is broadly spaced over a strike length of 110m, and the deepest intercept isn’t more than 175m below surface. The RC drilling campaign during 2019 showed promise on the most westerly drill section where the best results have included 2m @ 17.87 g/t Au from 51m (RC hole BBM007) and 3m @ 3.88 g/t Au from 169m (RC hole BBM006). It is emphasised that both these intercepts are supported within part of a broader zone of lower grade mineralisation such as 15m @ 3.81 g/t Au (BBM007) and 11m @ 2.42 g/t Au (BBM007). As such, these increased widths could be supported by grades of potential economic interest, but it is not guaranteed. Drilling to date has not continued into and across the track easement to the west of the RC Drilling (see fig 1 above).
Results from the 2019 RC drill program can be found in the announcement dated 1 May 2019 “New Gold Discovery-Blue Moon Deposit, Victoria, Australia” here.
INITIAL DRILLING PROGRAM SEPTEMBER 2022
Drilling will be undertaken using ECR’s owned and operated diamond drill rig named ‘MIDAS’. Initial drillholes will be collared within the public track easement as shown in (fig 1). From these two locations, drilling will firstly investigate the possible strike extension of the Blue Moon prospect west of and at the point where the RC drill program in 2019 finished. Four initial holes are planned for an approximate total of 1000m, the outcome of which will determine further drilling. If the planned drilling successfully intersects mineralisation, this has potential to double the strike extent of the prospect.
NEXT STEPS
Previous drilling at Blue Moon only covered a small section of the outcrop. The deposit is open at depth and also along strike to the west and east. Permissions from landholders are currently in progress to explore the potential strike further to the east where an interpretative cross fault ends the known current outcrop. Plans are already in place to expand the drilling programme subject to results from the initial four holes.
The style of the Blue Moon mineralisation also raises further questions over other potential opportunities within the region to discover another ‘Blue Moon’. ECR is well positioned in this regard, with adjacent exploration tenements to EL5433, covering similar regional geology awaiting approval.
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 |
||||
| BlytheRay | Tel: +44 (0) 207 138 3204 | |||
| Public Relations | ||||
| Tim Blythe
|
||||
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 (EL5433) and Creswick (EL6148) 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.
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 and can potentially receive up to US$2.7 million in aggregate across all licences.
ECR Minerals #ECR – Two Mineralisation Corridors Identified from HR3 hole BH3DD032 at Bailieston, Victoria
ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce updated gold results from drill hole BH3DD032 at the HR3 prospect at Bailieston. These results link to previous results from the HR3 drilling programme (see announcements from 8 June 2022 here and 11 July here) and which now reveal two potential mineralised corridors within the Maori Anticline.
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 Australian wholly owned subsidiary Mercator Gold Australia Pty Ltd (“MGA”).
ECR CEO Andrew Haythorpe commented: “I am delighted to report to you the latest assay results from HR3. Despite the well documented delays in receiving these assays, and with results from a further seven drill holes still to come, I believe that Technical Director Adam Jones and his team are doing an outstanding job in uncovering an asset of increasing significance for ECR. The grades at hole BH3DD032 demonstrate potential cross-asset consistency, building on the previously reported grade continuity from holes BH3DD035, BH3DD012, BH3DD019 and BH3DD034, and establishing what we believe are two mineralised corridors within the Maori Anticline.”
“This is an exciting development for ECR. I look forward to reporting the results from the seven drill holes still to come, and on the upcoming Blue Moon drilling campaign.”
ECR Chairman David Tang added: “I commend this excellent work by Adam Jones and the team and reiterate my previous comments that myself, Andrew and the board are eager to see the true scale of the Bailieston asset.”
HIGHLIGHTS
- Best results in BH3DD032 are 0.2m @ 4.81 g/t Au and 0.4m @ 6.11 g/t Au beginning from 154.1m downhole.
- The results link to previously drilled holes revealing two potential mineralised corridors within the Maori Anticline (see announcements from 8 June 2022 here and 11 July here).
A generalised section of BH3DD032 referencing the following paragraphs can be found at the link below;
Fig 1: https://www.ecrminerals.com/images/2022/fig1_BH3DD032_Section_220808
BH3DD032
BH3DD032 was drilled at depth and on section underneath holes BH3DD019, BH3DD034, BH3DD035 and BH3DD033. The aim of drilling BH3DD032 was to test the continuity of mineralised structures identified in BH3DD019. This structure was drilled through at 118m with an anomalous result of 0.2m @ 0.59 g/t Au. Drilling continued to pass through the central core of the Maori Anticline at around 145m in depth. A narrow quartz-sulphide fault with associated tension veining at 154.1m downhole produced the best results with 0.2m @ 4.81 g/t Au from 154.1m and 0.4m @ 6.11 g/t Au from 154.3m. Fault movement indicators show a south plunging system, as predicted from earlier drilling. BH3DD032 also passed through a perpendicular vein system at 249.7m grading 0.4m @ 2.4 g/t Au from 249.7m and 0.9m @ 0.72 g/t Au from 250.1m and 0.2m @ 3.06 gt Au from 256.8m. Drilling ended at a depth of 260.6m.
TWO MINERALISED CORRIDORS
Plotting the location of gold intercepts from BH3DD032 and other adjacent drill holes in section view reveal the likelihood of two main corridors of mineralisation (see fig 1 above). Mineralisation is located respectively on each side of the Maori Anticline where anastomosing narrow gold and antimony (stibnite) veins propagate. The system is open at depth and along strike to the north.
Table 1. Summary of drill intercepts containing reportable levels of gold greater than 0.1 g/t Au for BH3DD032 (highlights in bold).
BH3DD032
| From | To | Grade (g/t Au) | Interval (m) |
| 7 | 8 | 0.33 | 1 |
| 8 | 9 | 1.68 | 1 |
| 9 | 10 | 1.44 | 1 |
| 11 | 12 | 0.72 | 1 |
| 13 | 14 | 0.58 | 1 |
| 18 | 19 | 0.14 | 1 |
| 19 | 20 | 0.17 | 1 |
| 37.3 | 37.7 | 1.54 | 0.4 |
| 37.7 | 38 | 0.15 | 0.3 |
| 41 | 42 | 0.32 | 1 |
| 42 | 43 | 0.31 | 1 |
| 43 | 44 | 0.38 | 1 |
| 47 | 48 | 0.96 | 1 |
| 48 | 49 | 1.29 | 1 |
| 49 | 50 | 0.26 | 1 |
| 50 | 51 | 1.04 | 1 |
| 51 | 52 | 0.67 | 1 |
| 52 | 53 | 0.57 | 1 |
| 53 | 54 | 0.20 | 1 |
| 54 | 55 | 0.14 | 1 |
| 55 | 56 | 0.13 | 1 |
| 57 | 58 | 0.16 | 1 |
| 58 | 59.5 | 0.88 | 1.5 |
| 59.5 | 60.2 | 2.63 | 0.7 |
| 60.2 | 61 | 0.37 | 0.8 |
| 61 | 62 | 0.21 | 1 |
| 62 | 63 | 0.21 | 1 |
| 63 | 64 | 0.24 | 1 |
| 69 | 70 | 0.37 | 1 |
| 70 | 71 | 0.31 | 1 |
| 74.5 | 75 | 0.21 | 0.5 |
| 82.7 | 82.9 | 0.29 | 0.2 |
| 85.2 | 85.4 | 0.51 | 0.2 |
| 95 | 95.3 | 0.22 | 0.3 |
| 107.1 | 107.3 | 0.13 | 0.2 |
| 107.7 | 107.9 | 0.34 | 0.2 |
| 117.3 | 118 | 0.13 | 0.7 |
| 118 | 118.2 | 0.59 | 0.2 |
| 137.1 | 137.3 | 0.30 | 0.2 |
| 138.8 | 139 | 0.33 | 0.2 |
| 145.3 | 145.6 | 0.10 | 0.3 |
| 154.1 | 154.3 | 4.81 | 0.2 |
| 154.3 | 154.7 | 6.11 | 0.4 |
| 154.7 | 155.5 | 0.12 | 0.8 |
| 174.9 | 175.1 | 0.13 | 0.2 |
| 181 | 181.7 | 0.16 | 0.7 |
| 181.7 | 181.9 | 1.29 | 0.2 |
| 210 | 210.8 | 0.13 | 0.8 |
| 210.8 | 211.55 | 0.79 | 0.75 |
| 211.55 | 212.4 | 0.83 | 0.85 |
| 212.4 | 213.2 | 1.55 | 0.8 |
| 213.2 | 213.4 | 0.49 | 0.2 |
| 213.4 | 213.95 | 0.72 | 0.55 |
| 213.95 | 215 | 0.23 | 1.05 |
| 215 | 215.75 | 0.22 | 0.75 |
| 215.75 | 216.7 | 0.26 | 0.95 |
| 216.7 | 216.9 | 0.13 | 0.2 |
| 216.9 | 217.1 | 0.23 | 0.2 |
| 217.1 | 217.2 | 0.19 | 0.1 |
| 245.4 | 245.6 | 0.29 | 0.2 |
| 245.6 | 246.1 | 0.13 | 0.5 |
| 246.1 | 246.3 | 0.84 | 0.2 |
| 246.3 | 247 | 0.14 | 0.7 |
| 247 | 247.5 | 0.33 | 0.5 |
| 247.5 | 248 | 0.48 | 0.5 |
| 248 | 248.4 | 0.37 | 0.4 |
| 248.4 | 249 | 0.53 | 0.6 |
| 249 | 249.7 | 0.17 | 0.7 |
| 249.7 | 250.1 | 2.40 | 0.4 |
| 250.1 | 251 | 0.72 | 0.9 |
| 251 | 252 | 0.49 | 1 |
| 252 | 252.8 | 0.28 | 0.8 |
| 252.8 | 253 | 0.49 | 0.2 |
| 253 | 253.6 | 0.33 | 0.6 |
| 253.6 | 254.3 | 0.30 | 0.7 |
| 254.3 | 254.5 | 0.47 | 0.2 |
| 256.4 | 256.6 | 0.25 | 0.2 |
| 256.6 | 256.8 | 0.16 | 0.2 |
| 256.8 | 257 | 3.06 | 0.2 |
Adam Jones, Andrew Haythorpe, bailieston gold project, david tang, ECR, ecr minerals, hr3, Maori Anticline, maori reef
NEXT STEPS
The Company is awaiting the results from another 7 drill holes within the HR3 Goldfield. Three of these holes were drilled 200m along strike to the south of hole BH3DD032.
Drilling is also planned to commence at the Blue Moon prospect next month (September 2022). Initially drilled in 2019 (see announcement dated 14 March 2019 here and announcement dated 1 May 2019 here), Blue Moon is located approximately 10km to the south of HR3 and is hosted within a large sandstone body. The Directors consider Blue Moon to be highly prospective due to its width and initial indications of more consistent grades.
In regard to Creswick, groundwork is currently underway, with soil and rock chip sampling in progress along strike and parallel to the 2021 drilling sites.
Work is also planned to commence in September 2022 at ECR’s Lolworth tenements in North Queensland. Initial reconnaissance work is intended to confirm historic visible gold sampling with additional follow up sampling towards the creek headwaters to locate the source of any gold anomalies.
The Company will keep shareholders updated on the progress of the planned work.
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 |
||||
| BlytheRay | Tel: +44 (0) 207 138 3204 | |||
| Public Relations | ||||
| Tim Blythe
|
||||
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 (EL5433) and Creswick (EL6148) projects 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 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 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 and can potentially receive up to US$2.7 million in aggregate across all licences.
ECR Minerals #ECR – Drill Results from BH3DD035 Show Signs of Grade Continuity at Bailieston, Victoria
ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce the gold results from hole BH3DD035 from drilling at the HR3 prospect at Bailieston. Early stages of geological interpretation are linking the results from BH3DD035 to adjacent drillholes BH3DD012, BH3DD019 and BH3DD034.*
ECR Minerals 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 Australian wholly owned subsidiary Mercator Gold Australia Pty Ltd (“MGA”).
HIGHLIGHTS
- Best result in BH3DD035 was 0.25m @ 16.15 g/t Au from 163.25m drilled depth.
- Mineralised zones show continuity to adjacent previously drilled intercepts in holes BH3DD012, BH3DD019 and BH3DD034.
ECR CEO Andrew Haythorpe commented: “At last week’s investor presentation I outlined our commitment to continue the intensive drilling campaign into the second half of 2022. The assay results from hole BH3DD035 indicate signs of grade continuity in line with those already recorded at holes BH3DD012, BH3DD019 and BH3DD034, and from a technical standpoint provides our team with confidence in the Maori Anticline campaign outcome. I look forward to reporting the remaining assay results.”
“As I also indicated, along with Technical Director Adam Jones I am personally excited at the prospect of commencing our Blue Moon drilling campaign. With my geologist hat on, this asset presents an intriguing opportunity for us all.”
ECR Chairman David Tang added: “I am very excited by the opportunities that the assay results from Bailieston continue to reveal, and enthusiastic about the future of ECR under Andrew’s leadership.”
*References and links to these previous announcements can be found here:
- BH3DD012: see RNS dated March 14th 2022 ‘Visible Gold Identified at HR3. Progress of Drilling Continues into the Maori Anticline Target’ Link here to view
- BH3DD019: see RNS dated March 2nd 2022 ‘Drilling Continues to Extend Gold Mineralisation within the Maori Reef’. Link here to view
- BH3DD034: see RNS dated June 8th 2022 ‘Multiple High Grade Gold Intercepts from hole BH3DD034 at HR3, Bailieston Victoria’ Link here to view
A link to an image of the holes referenced in this announcement can be found here;
Fig 1: https://www.ecrminerals.com/images/2022/fig1_BH3DD035_220708
BH3DD035
In response to the visible gold observed in BH3DD034 at 149.2m depth, BH3DD035 was drilled in the same direction as BH3DD034 but at a steeper dip with the expected vein target around 175m depth. A quartz vein with similar textures to the veining identified in BH3DD034 was drilled through at 163.25m depth in BH3DD035. Results from this vein revealed 0.25m @ 16.15 g/t Au and is the best intercept from this hole. Once mineralisation was passed the hole terminated at the final depth of 185.15m.
LINK TO ADJACENT DRILLHOLES
Observations show that mineralised zones within BH3DD035 link geologically to adjacent drillholes BH3DD012, BH3DD019 and BH3DD034. The best intercept in BH3DD035 at 163.25m correlates approximately 20m below a stibnite (antimony sulphide) vein in BH3DD019 which revealed an intercept of 0.3m @ 4.59 g/t Au (see RNS 2 March 2022 here). We anticipate that the long awaited assay results from hole BH3DD032, which targeted vein continuity another 20m below hole BH3DD035, and which are due from the assay laboratories shortly, will further add to our understanding of the size and structure of this target zone. We look forward to updating shareholders when those results are received. Quartz veining has been observed in hole BH3DD032 within the expected target zone
Table 1. Summary of drill intercepts containing reportable levels of gold greater than 0.1 g/t Au for BH3DD035 (*highlights in bold).
BH3DD035
| From | To | Grade (g/t Au) | Interval (m) |
| 2.9 | 3.2 | 0.14 | 0.3 |
| 6.5 | 7 | 0.60 | 0.5 |
| 8 | 9 | 0.23 | 1 |
| 9 | 10 | 0.60 | 1 |
| 16 | 17 | 0.64 | 1 |
| 31.5 | 32.2 | 0.20 | 0.7 |
| 34.5 | 35 | 1.12 | 0.5 |
| 35 | 36 | 0.60 | 1 |
| 36 | 37 | 0.16 | 1 |
| 40 | 41 | 0.15 | 1 |
| 43 | 44 | 0.19 | 1 |
| 44 | 45 | 0.58 | 1 |
| 45 | 46 | 1.01 | 1 |
| 46 | 47 | 0.42 | 1 |
| 48 | 49 | 0.16 | 1 |
| 50 | 51 | 0.20 | 1 |
| 52 | 52.9 | 0.38 | 0.9 |
| 52.9 | 54.2 | 0.31 | 1.3 |
| 54.2 | 55 | 0.87 | 0.8 |
| 55 | 55.4 | 1.08 | 0.4 |
| 55.4 | 55.7 | 0.60 | 0.3 |
| 55.7 | 56 | 0.89 | 0.3 |
| 56 | 57 | 0.89 | 1 |
| 57 | 58 | 0.17 | 1 |
| 58 | 59.1 | 0.49 | 1.1 |
| 59.1 | 59.3 | 2.62 | 0.2 |
| 59.3 | 60 | 1.35 | 0.7 |
| 60 | 60.8 | 0.51 | 0.8 |
| 60.8 | 61.2 | 0.41 | 0.4 |
| 61.2 | 61.5 | 0.27 | 0.3 |
| 61.5 | 62 | 0.24 | 0.5 |
| 62 | 63 | 0.15 | 1 |
| 65 | 66 | 0.16 | 1 |
| 66 | 67 | 0.55 | 1 |
| 67 | 67.4 | 1.86 | 0.4 |
| 67.4 | 68 | 0.22 | 0.6 |
| 68 | 69 | 0.13 | 1 |
| 70 | 71 | 0.36 | 1 |
| 71 | 72 | 0.35 | 1 |
| 74 | 74.5 | 0.33 | 0.5 |
| 74.5 | 74.8 | 0.46 | 0.3 |
| 74.8 | 75 | 1.60 | 0.2 |
| 76 | 77 | 0.21 | 1 |
| 77 | 78 | 0.32 | 1 |
| 84 | 84.6 | 0.84 | 0.6 |
| 84.6 | 84.9 | 4.78 | 0.3 |
| 84.9 | 86 | 0.30 | 1.1 |
| 87 | 88 | 0.16 | 1 |
| 88 | 89 | 0.15 | 1 |
| 90.2 | 90.4 | 0.34 | 0.2 |
| 90.4 | 90.9 | 1.06 | 0.5 |
| 90.9 | 91.3 | 3.72 | 0.4 |
| 91.3 | 92 | 0.61 | 0.7 |
| 92 | 93 | 0.18 | 1 |
| 100.7 | 101.1 | 0.53 | 0.4 |
| 103 | 103.3 | 0.65 | 0.3 |
| 103.3 | 103.45 | 5.26 | 0.15 |
| 108.4 | 108.6 | 0.33 | 0.2 |
| 110.2 | 111.2 | 0.63 | 1 |
| 120.5 | 120.7 | 0.20 | 0.2 |
| 122.7 | 123 | 0.15 | 0.3 |
| 123 | 123.2 | 0.51 | 0.2 |
| 123.2 | 123.4 | 0.42 | 0.2 |
| 123.4 | 123.7 | 0.36 | 0.3 |
| 123.7 | 124.1 | 0.29 | 0.4 |
| 126.4 | 126.8 | 0.14 | 0.4 |
| 126.8 | 127.1 | 0.30 | 0.3 |
| 162.25 | 163.25 | 0.62 | 1 |
| 163.25 | 163.5 | 16.15 | 0.25 |
LOOKING FORWARD STATEMENTS
The Company has now completed spaced drilling along the down-dip extensions of the Maori Anticline within the HR3 Goldfield. Holes have been logged and sampled and we now await the results from the laboratory. At this stage we expect a flow of assay results throughout July, August and September 2022. Our drilling campaign continues to identify narrow veining deeper into the axis of the Maori Anticline over a strike length of approximately 300m, and once the final results are in, the board will determine the next steps for this project area. In addition, as outlined by our CEO Andrew Haythorpe at his presentation at the Proactive One2One event in London on 6 July 2022, the Company plans to commence drilling at its ‘Blue Moon’ prospect in August 2022.
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 |
||||
| BlytheRay | Tel: +44 (0) 207 138 3204 | |||
| Public Relations | ||||
| Tim Blythe
|
||||
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 (EL5433) and Creswick (EL6148) projects 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 licence applications covering 900 km2 covering 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 and can potentially receive up to US$2.7 million in aggregate across all licences.
ECR Minerals #ECR – Multiple High Grade Gold Intercepts from hole BH3DD034 at HR3, Bailieston Victoria
ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce a progressive update from drilling at HR3, Bailieston with high gold intercepts received for hole BH3DD034. Visible gold was previously announced from this hole (see announcement dated 14th March 2022)
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 Australian wholly owned subsidiary Mercator Gold Australia Pty Ltd (“MGA”).
ECR CEO Andrew Haythorpe commented: “This is an outstanding result, capably executed and delivered by Adam and the drill team. As a geologist myself, along with the team, I am excited by the continuity of grade and the manner in which the Maori Anticline is further revealing itself through each assay result. There is clearly much more to come.”
ECR Chairman David Tang added: “There is a palpable sense of excitement at ECR Minerals as the intensive drilling campaign across our Victoria assets is now, despite the delays in assay processing, yielding consistently high gold grades. I am delighted for Adam and the team – this exceptional result today and the continuity of grade between Zone 2 and Zone 3 could well indicate a significant find. We look forward to the remaining assay results from the adjacent holes.”
HIGHLIGHTS:
- Drillhole BH3DD034 returned four high gold grade intercepts at drilled depths; (0.3m@ 20.34 g/t Au from 18.2m), (0.65m @ 13.02 g/t Au from 54.2m), (0.3m @ 10.59 g/t Au from 97.9m) and (0.25m @ 45.0 g/t Au from 149.2m).
- Visible gold recorded at 149.2m depth.
- Mineralised zones show continuity to adjacent previously drilled intercepts in hole BH3DD019.
The links to three figures that will be referenced in the following comments can be found here;
Fig 1: https://www.ecrminerals.com/images/2022/fig1_BH3DD034_section_220606.png
Fig 2: https://www.ecrminerals.com/images/2022/fig2_BH3DD034_Plan_220606.png
Fig 3: https://www.ecrminerals.com/images/2022/fig3_BH3DD034_Best_Intercepts.png
BH3DD034
Hole BH3DD034 was one of four holes completed as follow-up drilling to previously announced hole BH3DD019 (see announcement dated 2nd March 2022), where four mineralised ‘zones’ were identified down-hole. The location of this drilling is shown at the top of the plan in fig 2 (linked above). To date, drilling and geological logging has been completed with assay results pending for complimentary adjacent drillholes BH3DD032, BH3DD033 and BH3DD035.
Hole BH3DD034 was drilled between the 4th and 11th of April 2022, and finished at a total drilled depth of 167.5m. Drilling was completed over six working days averaging 28m per day, which includes mobilisation and setup time. Progress was initially hampered by water loss and broken ground within the first 100m of drilling.
Visible gold was reported at a depth of 149.2m, hosted within a narrow bedded laminated quartz vein. Gold specks up to a particle size of 2mm are present. This vein resulted in an intercept of 0.25m @ 45.0 g/t Au. The immediate wall rock either side of this vein is supported by low, sub-gram gold grades representing a mineralised drilled interval of 6.7m @ 2.13 g/t Au from 146.3m. Three other mineralised zones have been identified further up-hole including 0.3m @ 20.34 g/t Au from 18.2m, 0.65m @ 13.02 g/t Au from 54.2m and 0.3m @ 10.59 g/t Au from 97.9m. Each mineralised zone is approximately spaced throughout the drilled hole depth (see fig 1).
Arsenopyrite (sulphide) crystals in the shape of small lathes and needles were seen within the high-grade interval at 97.9m. Sulphides crystallised in this manner are known to be associated with good gold values, such as those at nearby deposits located at Nagambie and the Fosterville Fault zone.
ECR Geologists have linked some of the four mineralised zones in BH3DD034 to similar zones in hole BH3DD019. Intercepts in hole BH3DD019 are within 50m to the south of intercepts in BH3DD034. Details of the link between mineralised zones can be seen in fig 1. In particular, we have noted the continuity of grade between Zone 2 in BH3DD019 and Zone 3 in BH3DD034. Due to the broken nature of these intercepts, a clear understanding of the dip of mineralisation is not well understood at this stage. The laminated texture of the quartz and the relationship of the angle of quartz intercepts to bedding planes infers that the mineralised zone is likely to be bedding parallel in nature. The veins reside in the hanging-wall of a narrow fault where bedding dip angles change dramatically. This fault contains low gold mineralisation.
Table 1. Summary of drill intercepts containing reportable levels of gold greater than 0.1 g/t Au for BH3DD034 (*highlights in bold).
BH3DD034
| From (m) | To (m) | Grade (g/t Au) | Interval (m) | Comment |
| 3 | 3.5 | 0.39 | 0.5 | |
| 11 | 11.3 | 0.26 | 0.3 | |
| 18.2 | 18.5 | 20.34 | 0.3 | Zone 1 |
| 18.5 | 19.5 | 0.21 | 1 | Zone 1 |
| 20.5 | 21.5 | 0.18 | 1 | Zone 1 |
| 25.5 | 26 | 0.17 | 0.5 | Zone 1 |
| 26.5 | 27.5 | 3.46 | 1 | Zone 1 |
| 33 | 34 | 0.79 | 1 | |
| 34 | 35 | 0.39 | 1 | |
| 35 | 36 | 0.35 | 1 | |
| 36 | 36.6 | 0.50 | 0.6 | |
| 36.6 | 37 | 0.31 | 0.4 | |
| 37 | 37.3 | 0.46 | 0.3 | |
| 37.3 | 38.1 | 0.57 | 0.8 | |
| 38.1 | 39 | 0.21 | 0.9 | |
| 39 | 39.5 | 1.66 | 0.5 | |
| 39.5 | 40 | 0.53 | 0.5 | |
| 46.1 | 46.6 | 0.28 | 0.5 | |
| 46.6 | 47.2 | 0.30 | 0.6 | |
| 50.7 | 51.3 | 0.14 | 0.6 | Zone 2 |
| 51.6 | 52 | 0.17 | 0.4 | Zone 2 |
| 52 | 53 | 0.15 | 1 | Zone 2 |
| 53 | 53.5 | 0.30 | 0.5 | Zone 2 |
| 53.5 | 54.2 | 0.24 | 0.7 | Zone 2 |
| 54.2 | 54.85 | 13.02 | 0.65 | Zone 2 |
| 56.5 | 57 | 0.19 | 0.5 | |
| 58.2 | 58.7 | 0.18 | 0.5 | |
| 71.6 | 72.25 | 0.98 | 0.65 | |
| 72.8 | 73.4 | 0.16 | 0.6 | |
| 80.2 | 81 | 0.22 | 0.8 | |
| 81 | 81.6 | 0.41 | 0.6 | |
| 97.2 | 97.5 | 0.50 | 0.3 | Zone 3 |
| 97.5 | 97.9 | 0.60 | 0.4 | Zone 3 |
| 97.9 | 98.2 | 10.59 | 0.3 | Zone 3 (Arsenopyrite Needles) |
| 98.2 | 98.75 | 0.26 | 0.55 | Zone 3 |
| 99.4 | 100 | 0.13 | 0.6 | Zone 3 |
| 105.5 | 106 | 0.34 | 0.5 | |
| 146.3 | 146.6 | 0.62 | 0.3 | Zone 4 |
| 146.6 | 147 | 0.46 | 0.4 | Zone 4 |
| 147 | 147.8 | 0.17 | 0.8 | Zone 4 |
| 147.8 | 148.2 | 0.58 | 0.4 | Zone 4 |
| 148.2 | 148.6 | 1.92 | 0.4 | Zone 4 |
| 148.6 | 149.2 | 0.49 | 0.6 | Zone 4 |
| 149.2 | 149.45 | 45.0 | 0.25 | Zone 4 (Visible Gold) |
| 149.45 | 150 | 0.43 | 0.55 | Zone 4 |
| 150 | 150.5 | 0.83 | 0.5 | Zone 4 |
| 150.5 | 151 | 0.36 | 0.5 | Zone 4 |
| 151 | 152 | 0.25 | 1 | Zone 4 |
| 152 | 153 | 0.14 | 1 | Zone 4 |
LOOKING FORWARD STATEMENTS
With the results of BH3DD034 now received, the board eagerly awaits the results of adjacent holes BH3DD032, BH3DD033 and BH3DD035. Despite the narrow nature of the reported mineralised zones, there is high optimism for continuity of mineralisation as seen currently by the correlating intercepts between hole BH3DD019 and BH3DD034.
It is becoming clear the fold hinge (termed the ‘Maori Anticline’) hosts multiple narrow faults and bedded veins that host gold-antimony (stibnite) mineralisation. Heading south from BH3DD034 toward the intersection of the Maori Reef with the Hard-Up Reef, drilling is now complete for hole BH3DD038. Logging is nearly complete, with samples already in waiting for completion of assays at the laboratory. Similar mineralised zones as seen in BH3DD034 have been identified in the latest drilling and the Company is looking forward to publishing these results in due course. The mineralised system is open immediately to the north of BH3DD034 and it is with this understanding that a complimentary drillhole will be undertaken within this vicinity.
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 |
||||
| BlytheRay | Tel: +44 (0) 207 138 3204 | |||
| Public Relations | ||||
| Tim Blythe
|
||||
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 (EL5433) and Creswick (EL6148) projects 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 licence applications covering 900 km2 covering 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 and can potentially receive up to US$2.7 million in aggregate across all licences.