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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 – 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 – Visible Gold Identified at HR3. Progress of Drilling Continues into the Maori Anticline Target
ECR Minerals plc (LON: ECR), the gold exploration and development company focussed on gold exploration in Australia, is pleased to announce a current update on drilling at HR3 including results and geological interpretation completed for BH3DD012, current drilling activities and future drilling plans within EL5433.
ECR Minerals plc has 100% ownership of the Bailieston Project (EL5433) and contains the gold prospects known as HR3, Cherry Tree, Blue Moon and Black Cat. The projects are operated under ECR Minerals plc Australian wholly owned subsidiary Mercator Gold Australia Pty Ltd (“MGA”).
ECR Chairman David Tang commented: ““A significant amount of work has gone into the drilling programme at HR3, and I am delighted to note that following on from the results at hole BH3DD019, we continue to see encouraging and consistent gold grades in BH3DD012 and visible gold in BH3DD034. Importantly we continue to build on our understanding of the Maori Anticline and the regional gold trend ahead of an infill drilling programme.”
“I know Adam and his team are excited by the potential at the Blue Moon prospect, and I look forward to reporting back to you once work commences there.”
“Finally, regarding our search for a new CEO, I am pleased to report we have shortlisted three candidates and we will provide updates to the market in due course, as required.”
HIGHLIGHTS:
- Diamond drill hole BH3DD012 was drilled 100m south and parallel to the previously announced hole (BH3DD019). Five mineralised zones have been identified and correlated to the Maori Anticline.
- The best intercepts within each of the five mineralised zones include 0.8m @ 3.81 g/t Au (Zone 1); 0.5m @ 3.87 g/t Au (Zone 2); 0.5m @ 4.26 g/t Au (Zone 3); 0.6m @ 2.25 g/t Au (Zone 4) and 1m @ 0.51 g/t Au (Zone 5).
- Drilling and sampling of holes BH3DD032, BH3DD033, BH3DD034 and BH3DD035 are currently in progress to follow up best gold intercepts found in BH3DD019. Visible gold has been identified in BH3DD034 at 149.5m downhole.
This announcement is written to reference to the following three figures:
Fig 1: BH3DD012 geological section:
https://www.ecrminerals.com/images/2022/fig1_BH3DD012.png
Fig 2: Location and plan of recent drilling with current status, HR3:
https://www.ecrminerals.com/images/2022/fig2_Current_drillplan_HR3.png
Fig 3: BH3DD034 visible gold
https://www.ecrminerals.com/images/2022/fig3_BH3DD034_vg.png
OVERVIEW OF BH3DD012
On 30 February 2022, ECR announced that a series of four holes (BH3DD012, BH3DD014, BH3DD020 and BH3DD021) had been drilled perpendicular to the trend of reef lines within the HR3 Goldfield to aid interpretation of the main faults and folding with known mineralisation. The Company has now received gold results for hole BH3DD012.
BH3DD012 was collared in 100m to the south and drilled parallel to adjacent hole BH3DD019. Geological interpretation is now revealing the main rock-type groupings and the style of mineralised veins that are associated with the Maori Anticline. MGA’s geology team has correlated the veins identified in BH3DD012 to hole BH3DD019, giving further understanding to the structural architecture of the HR3 Goldfield.
Five zones of mineralisation have been identified from hole BH3DD012. (Fig 1)
Zone 1 features a quartz stockwork zone hosted within a massive brittle sandstone rock unit that has a drilled thicknes of 2.7 metres. Best intercepts were 0.8m @ 3.81 g/t Au (from 57.3m) and 0.7m @ 3.32 g/t Au (from 59.3m)
Zone 2 can be linked to the Scoulers Reef structure represented by orthogonal veining within a sheared zone. Mineralisation is broad at a drilled width of 9.3 metres. Two of the highest intercepts included 1m @ 3.75 g/t Au (from 72m) and 0.5m @ 3.87 g/t Au (from 73.8m)
Zone 3 is represented by narrow bedding-laminated sulphidic veins at a drilled depth of 175.5m which returned 0.5m @ 4.26 g/t Au. The veins are hosted with a planar-laminated siltstone which correlates well to the same lithology in hole BH3DD019. Given this good correlation, it is highly probable Zone 3 veins match to the best intercept of 0.5m @ 9.5 g/t Au in BH3DD019 at 99.9m.
Zone 4 consists of a fault with linking stockwork quartz veining. Best result was 0.6m @ 2.25 g/t Au (from 191m drilled depth).
Zone 5 is a minor occurrence of bedded laminated carbonate veining at 255.6m drilled depth. Traces of stibnite (antimony sulphide) were identified in adjacent veining. This zone has only elevated gold, the best result being 1m @ 0.51 g/t Au (from 255.6m).
BH3DD012 was drilled to a depth of 302.1m. The dip angle of bedding, sedimentary depositional indicators (called younging) have located the hinge zone of the Maori Anticline at an approximate depth of 220m down the drill hole. The geology team is currently interpreting the projection of this hinge to the earlier drilling (BH3DD009) near surface.
Table 1. Summary of drill intercepts containing reportable levels of gold greater than 0.1 g/t Au for BH3DD012 (*highlights in bold). Mineralised ‘Zones’ shown in Fig 1.
BH3DD012
| From | To | Grade (g/t Au) | Interval (m) | Zone |
| 38 | 39 | 0.18 | 1 | |
| 41 | 41.5 | 0.11 | 0.5 | |
| 41.5 | 42.5 | 0.41 | 1 | |
| 44.5 | 45.5 | 0.18 | 1 | |
| 48.5 | 49.5 | 0.14 | 1 | |
| 49.5 | 50 | 0.62 | 0.5 | |
| 50 | 50.5 | 1.54 | 0.5 | |
| 50.5 | 51 | 0.8 | 0.5 | |
| 51 | 52 | 0.74 | 1 | |
| 52 | 53 | 0.33 | 1 | |
| 53.7 | 54.2 | 1.16 | 0.5 | |
| 54.2 | 54.5 | 1.38 | 0.3 | |
| 54.5 | 55.5 | 0.15 | 1 | |
| 55.5 | 56.5 | 0.28 | 1 | |
| 56.5 | 57.3 | 0.53 | 0.8 | |
| 57.3 | 58.1 | 3.81 | 0.8 | ZONE 1 |
| 58.1 | 58.9 | 1.25 | 0.8 | ZONE 1 |
| 58.9 | 59.3 | 0.32 | 0.4 | ZONE 1 |
| 59.3 | 60 | 3.32 | 0.7 | ZONE 1 |
| 65 | 66 | 0.16 | 1 | |
| 66 | 67 | 0.82 | 1 | |
| 67 | 68 | 1.22 | 1 | ZONE 2 (Scoulers Reef) |
| 68 | 69 | 1.77 | 1 | ZONE 2 (Scoulers Reef) |
| 69 | 70 | 2.28 | 1 | ZONE 2 (Scoulers Reef) |
| 70 | 71 | 1.32 | 1 | ZONE 2 (Scoulers Reef) |
| 71 | 72 | 1.39 | 1 | ZONE 2 (Scoulers Reef) |
| 72 | 73 | 3.75 | 1 | ZONE 2 (Scoulers Reef) |
| 73 | 73.8 | 1.24 | 0.8 | ZONE 2 (Scoulers Reef) |
| 73.8 | 74.3 | 3.87 | 0.5 | ZONE 2 (Scoulers Reef) |
| 74.3 | 74.8 | 1.14 | 0.5 | ZONE 2 (Scoulers Reef) |
| 74.8 | 75.3 | 0.73 | 0.5 | ZONE 2 (Scoulers Reef) |
| 75.3 | 76.3 | 0.45 | 1 | ZONE 2 (Scoulers Reef) |
| 76.3 | 76.9 | 0.15 | 0.6 | |
| 76.9 | 77.4 | 0.31 | 0.5 | |
| 77.4 | 78 | 1.02 | 0.6 | |
| 78 | 79 | 0.98 | 1 | |
| 79.5 | 80 | 0.28 | 0.5 | |
| 80 | 81 | 0.24 | 1 | |
| 81 | 81.7 | 0.74 | 0.7 | |
| 81.7 | 82.3 | 1.06 | 0.6 | |
| 82.3 | 83 | 0.77 | 0.7 | |
| 126.8 | 127.3 | 0.26 | 0.5 | |
| 128 | 129 | 0.13 | 1 | |
| 133.25 | 134 | 0.14 | 0.75 | |
| 134 | 135 | 0.24 | 1 | |
| 136 | 137 | 0.29 | 1 | |
| 138 | 139 | 0.19 | 1 | |
| 139 | 140 | 0.24 | 1 | |
| 144 | 145 | 0.13 | 1 | |
| 145 | 146 | 0.17 | 1 | |
| 151.1 | 151.9 | 0.15 | 0.8 | |
| 151.9 | 152.3 | 0.13 | 0.4 | |
| 175 | 175.5 | 0.13 | 0.5 | |
| 175.5 | 176 | 4.26 | 0.5 | ZONE 3 |
| 176 | 177 | 0.21 | 1 | |
| 183.3 | 183.8 | 0.18 | 0.5 | |
| 187.3 | 188.3 | 0.13 | 1 | |
| 189.2 | 190 | 0.11 | 0.8 | |
| 190 | 190.3 | 0.11 | 0.3 | |
| 190.3 | 191 | 0.16 | 0.7 | |
| 191 | 191.6 | 2.25 | 0.6 | ZONE 4 |
| 191.6 | 192.2 | 0.82 | 0.6 | |
| 192.2 | 193 | 0.7 | 0.8 | |
| 193 | 194 | 0.38 | 1 | |
| 213.5 | 214 | 0.17 | 0.5 | |
| 215 | 216 | 0.18 | 1 | |
| 219 | 220 | 0.69 | 1 | |
| 241.3 | 242 | 0.2 | 0.7 | |
| 242 | 242.7 | 0.27 | 0.7 | |
| 248 | 248.5 | 0.13 | 0.5 | |
| 248.5 | 249.1 | 0.14 | 0.6 | |
| 249.1 | 249.8 | 0.28 | 0.7 | |
| 250.5 | 251 | 0.14 | 0.5 | |
| 251.7 | 252 | 0.14 | 0.3 | |
| 252 | 252.8 | 0.24 | 0.8 | |
| 252.8 | 253.8 | 0.11 | 1 | |
| 253.8 | 254.6 | 0.22 | 0.8 | |
| 254.6 | 255.6 | 0.23 | 1 | |
| 255.6 | 256.6 | 0.51 | 1 | ZONE 5 |
| 256.6 | 257.6 | 0.33 | 1 |
BH3DD034-VISIBLE GOLD IDENTIFIED
Drilling of BH3DD019 showed narrow arsenic-stibnite veining emanating from the Maori Anticline. ECR is currently following up these targets by drilling four additional supporting holes (BH3DD032, BH3DD033, BH3DD034 and BH3DD035). Hole BH3DD033 and BH3DD034 has been completed, now awaiting sampling. BH3DD034 has drilled through a narrow-laminated vein 50mm wide showing a visible speck of coarse gold around 1mm in diameter (Fig 3). This is a typical example of a narrow ‘nuggetty’ vein and shows the low probability of drilling such mineralisation. The vein is supported by a broad halo of hydrothermal sulphide. This hole is in the process of being geologically logged in detail and sampled and further updates will be provided in due course.
FUTURE PLANS
ECR is now starting to see the benefits of utilising its own diamond drill rig operated by an ‘in house’ drill team. The team have been drilling an average of c.35m of good quality core per day, reducing the drill meterage rate compared to contracting out the work.
Since the beginning of 2022, the Company has drilled holes into the northern limits of the Maori Reef and drilled two initial holes under the southernmost soil anomaly underneath the Hard-Up Reef. The geological team is also eagerly awaiting outstanding assay results for drilling completed into the Maori and Hard-Up Reef intersection, which will tie in with the results of this announcement.
Upon completion of the complimentary holes to BH3DD019, we plan to move the drill rig up on the low ridgeline to begin initial drilling into the Scoulers Reef and under the other soil anomalies identified along this ridge. Locations of the planned drilling along with recent drilling is shown in Fig 3. Ultimately, we expect that the outcome of the diamond drilling will provide a detailed understanding of the relationship of veining to structures and the possible control on gold deposition within the veins. This is all preparation work for infill RC drilling at a later date.
Additionally, planning is well under way to follow up the RC drilling completed in 2019 over the nearby “Blue Moon” prospect, also on EL5433.
REVIEW OF ANNOUNCEMENT BY QUALIFIED PERSON
This announcement has been reviewed by Adam Jones, a director of ECR Minerals plc. Adam Jones is a professional geologist and is a Member of the Australian Institute of Geoscientists (MAIG). He is a qualified person as that term is defined by the AIM Note for Mining, Oil and Gas Companies.
MARKET ABUSE REGULATIONS (EU) No. 596/2014
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (MAR). Upon the publication of this announcement via Regulatory Information Service (RIS), this inside information is now considered to be in the public domain.
FOR FURTHER INFORMATION, PLEASE CONTACT:
| ECR Minerals plc | Tel: +44 (0) 20 7929 1010 | ||
| David Tang, Non-Executive Chairman | |||
| 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 |
|||
| Blytheweigh | 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 25% interest in the Danglay gold project; an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines, which has a 43-101 compliant resource. ECR also holds a royalty on the SLM gold project in La Rioja Province, Argentina and can potentially receive up to US$2.7 million in aggregate across all licences
ECR Minerals #ECR – Approval of Two New Exploration Tenements in Victoria, Australia
ECR Minerals plc (LON: ECR), the gold exploration and development company focussed on gold exploration in Australia, is pleased to announce the granting of two gold exploration tenements in Victoria, Australia.
ECR Minerals plc has 100% ownership of the Bailieston Project (EL5433) and the Creswick Project (EL006184), both of which are currently undergoing intense exploration by ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd (“MGA”).
ECR Chairman David Tang commented: “On behalf of the board and our team on the ground in Victoria, I am very pleased to announce that we can confirm the award of exploration licenses EL006907 and EL007484. In particular, the granting of license EL006907 linking Creswick to Ballarat East-Nerrina goldfield was something our former CEO Craig Brown always viewed as a key step in developing our Creswick interests and our understanding of the Dimocks Main Shale. With the data and knowledge base we have amassed now, I know our team on the ground, headed by Adam Jones are very keen to start work in the new area and bring Craig’s vision to fruition.
Licence EL007484 is an important addition to our enlarged footprint to the east of Victoria in the Tambo region. With a second drilling machine due to arrive any day now, I look forward to reporting further exploration progress as our intensive exploration and drilling campaigns expand and develop.
Our board are actively engaged in a search for a new CEO, and I look forward to reporting back with developments here in the near term.”
SUMMARY:
- Two new tenements recently granted for undertaking exploration work within Victoria, Australia. ‘MGA’ now has a total of 523 km2 of ground granted for exploration for gold within Victoria.
- One tenement (EL006907) is strategically placed between the historical rich Ballarat East-Nerrina goldfield and the current exploration licence ‘EL006148’. This tenement is host to the continued strike of the Dimocks Main Shale (“DMS”) horizon, believed to host the source veining for much of the alluvial gold within the Creswick deep lead alluvial system.
- The second tenement (EL007484) is situated 50km north of Bairnsdale in the east of the state of Victoria encompassing the alluvial fields of Swifts Creek and the Mid to Upper reaches of the Tambo River.
EL006907 (Creswick)
MGA is pleased to report that Exploration licence 006907 was granted on 26/11/2021 for a period of five years, with the added possibility of an extension, provided expenditure requirements, (a minimum of $160,050 AUD over the five-year term), are met. The licence lies midway between the current Creswick lease of EL006184 and the Ballarat East and Nerrina goldfields, with a total ground area of 81km2.
EL006907 contains the southern strike extension of the DMS horizon believed to host the source rocks to the abundant historical alluvial gold production within the region. Although the true figures of alluvial gold produced are not known, the Geological Survey of Victoria estimates the region has produced in excess of one million ounces of gold, with most of the production occurring between the period of 1852-1930. Around 4km of DMS strike length is believed to be within this tenement.
Records of past exploration show that no known extensive drilling or geochemical surveys have been undertaken within the tenement.
EL007484 (Tambo North)
Licence EL007484 was also granted on 26/11/2021 for a five-year term. The total land area covers 374 km2, and covers the historic alluvial goldfields of the Tambo River and Swifts Creek. Exploration work for both precious metals and base metals has been undertaken previously, added to which the region is known for intrusives that may offer opportunity for discovering new deposits.
The figure showing location of both tenements are shown in the link below;
https://www.ecrminerals.com/images/fig1_mga_new_tenements_12_21.jpg
FORWARD LOOKING STATEMENTS
We are delighted that the long-awaited license grants for these two tenements have been awarded to MGA. MGA is still awaiting the final grant of EL006713 (Creswick) and EL007486 (Tambo South), which are both adjacent to the newly approved tenements. If approved, MGA will have exploration licenses covering the majority of the ground linking Ballarat and Creswick – an exciting and challenging prospect given the historical abundance of alluvial gold and under-explored nature of the region. Initially, the company intends to define geochemical patterns related to known alluvial gold dispersion to help define the optimum method to locate the ‘blind’ gold ‘shoots’ the central Victorian region is known for. Best outcomes will be followed up by drilling using MGA owned and operated equipment. The MGA team are very well aware that many of the gold deposits at Creswick are ‘spotty’ and coarse in nature, but this consideration is always in balance with the potential rewards.
MGA will continue to prioritise EL5433 (Bailieston) into the new year as this tenement is reaching maturity. Staff will be transitioning into exploration within the Creswick area which will include follow-up work on the recently drilled EL006184. Exploration opportunities are also available on the companies owned land also within EL006184.
REVIEW OF ANNOUNCEMENT BY QUALIFIED PERSON
This announcement has been reviewed by Adam Jones, a director of ECR Minerals plc. Adam Jones is a professional geologist and is a Member of the Australian Institute of Geoscientists (MAIG). He is a qualified person as that term is defined by the AIM Note for Mining, Oil and Gas Companies.
MARKET ABUSE REGULATIONS (EU) No. 596/2014
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (MAR). Upon the publication of this announcement via Regulatory Information Service (RIS), this inside information is now considered to be in the public domain.
FOR FURTHER INFORMATION, PLEASE CONTACT:
| ECR Minerals plc | Tel: +44 (0) 20 7929 1010 | ||
| David Tang, Non-Executive Chairman | |||
| Email: | |||
| Website: www.ecrminerals.com | |||
| WH Ireland Ltd | Tel: +44 (0) 161 832 2174 | ||
| Nominated Adviser | |||
| SI Capital Ltd | Tel: +44 (0) 1483 413500 | ||
| Broker | |||
| Nick Emerson | |||
| Novum Securities Limited | Tel: +44 (0) 20 7399 9425 | ||
| Broker
Jon Belliss |
|||
| Blytheweigh | 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 including one licence application lodged in eastern Victoria. (Tambo gold project). MGA is currently exploring 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 25% interest in the Danglay gold project; an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines, which has a 43-101 compliant resource. ECR also holds a royalty on the SLM gold project in La Rioja Province, Argentina and can potentially receive up to US$2.7 million in aggregate across all licences.
ECR Minerals #ECR – Initial Success of ‘Phase two’ Drilling at HR3
ECR Minerals plc (LON: ECR), the gold exploration and development company focussed on gold exploration in Australia, is pleased to update shareholders on its initial successful results from recently commenced ‘phase 2 drilling’ within HR3 at Bailieston, Victoria, Australia.
ECR Minerals plc has 100% ownership of the Bailieston Project (EL5433), which is operated under its Australian wholly owned subsidiary Mercator Gold Australia Pty Ltd (“MGA”).
ECR Chairman David Tang commented: “We are pleased with the excellent results from hole BH3DD009 at HR3. As this intensive drilling campaign continues, so our understanding of the Maori Anticline continues to grow. With a clear picture of the HR3 goldfield structure starting to emerge, it is tragic that Craig Brown is no longer with us to see these latest developments. I do know that all employees and directors at ECR and Mercator Gold are working hard to ensure that Craig’s vision for ECR’s flagship projects come to fruition. We look forward to sharing further assay results and data with shareholders as they are released by the labs.”
“It is our intention to appoint a new CEO in due course, and in this regard our search has already begun. In the interim a committee of directors, including myself, Trevor Davenport and Adam Jones will continue to drive the business forward.”
SUMMARY:
- Following receipt of the necessary permissions, drilling has re-commenced within the HR3 Goldfields utilising two diamond drill rigs.
- Initial results have been received with the first hole completed, (BH3DD009) returning 0.7m @ 28.06g/t Au from 52.7m depth from the Maori Reef.
- Gold values correlate well to high arsenic and antimony (stibnite) pXRF values – proof of their importance as pathfinder elements within the Bailieston area.
- Drilling highlights the importance of the Maori Anticline as an important up-coming target.
PHASE TWO DRILLING HR3
Whilst drilling at Creswick and Cherry Tree ‘HR4’ mid-year, MGA submitted plans to government authorities requesting permission to drill from additional sites within the HR3 goldfield area. After meeting regulatory requirements, permission was granted early October 2021. Once drilling at nearby Cherry Tree and at the Creswick tenements had completed, drill rigs were mobilised to HR3 to commence phase two drilling. Drilling is being undertaken by two diamond drill rigs, one by a contractor and the second rig being MGA’s owned and operated ‘Midas’ drill rig. The contract rig is currently drilling broad holes perpendicular to the strike of the main mineralised systems throughout the HR3 goldfield and has approximately 250m of drilling to complete. Follow-up drilling is being undertaken by the ‘Midas’ drill rig and will continue to the end of the year.
A total of twelve drill sites have been approved across HR3. The sites have been well planned to ensure optimum drill coverage across the remainder of the goldfield. Particular focus will be directed at gathering structural data by use of diamond drilling to reconstruct the central and eastern mineralised systems known as the Scoulers and Maori Reefs. Extensions to the north and south of the goldfield boundaries will also be drilled. Drilling will also delineate structures drilled by previous historic percussion drilling during the 1980’s period.
To date, a total of 1478m of ‘phase two’ drilling has been completed at HR3. Between the two drill rigs, good meterage has been drilled (up to 80m per shift). Geological logging and interpretation will continue to the end of the year. A summary of drilling locations and their progression is shown in the link below;
BH3DD009
Phase two drilling commenced with BH3DD009 across the central portion of the Maori Reef. Drilling was targeted to follow up the down-dip of an historical Reverse Circulation drillhole intersection which returned 1m @ 11 g/t Au. BH3DD009 was successful in drilling mineralisation between 47m and 56.7m depth and the best intersection was 0.7m @ 28.06 g/t Au from 52.7m depth.
Drill core is routinely analysed for pathfinder elements during geological logging using an in-house pXRF unit to trace pathfinder elements associated with gold mineralisation. pXRF results are not used for reporting resources, only for tracing the pathways for gold mineralisation fluids. Plotting of antimony (Sb) and arsenic (As) pXRF results correlates spatially with the initial high-grade gold intercepts. A similar zone of high Sb and As has been identified in other drillholes on the same section as BH3DD009 and on the projection of the Maori Reef structure (see fig 2). Gold assay are pending for these drillholes (BH3DD010 and BH3DD011) and whilst the XRF results can not be relied upon, we are anticipating good results.
The following is a link to a section sketch showing the main geological features of BH3DD009 and the spatial association of antimony and arsenic.
MAORI ANTICLINE
Drilling and subsequent 3D modelling of drillholes BH3DD005, BH3DD006 and BH3DD007 earlier this year revealed a moderate south plunging fold to exist underneath and along strike of the Maori Reef workings. This has been termed the Maori anticline. Observations show the historic mined portion of the Maori Reef coincides with the projected up-dip of the anticline near surface. The Maori Reef has been intersected midway between BH3DD009 and the historical workings by an historic percussion drill hole named BLP136. BH3DD009 intercepted 1m @ 34 g/t Au from 44m depth. These observations show the significance of the anticline. The drill rig is currently being set up to test this unexplored gap of the Maori anticline.
A long-section looking east through the anticline is shown in the link below;
Table 1. Summary of initial drill intercepts containing reportable levels of gold greater than 1 g/t Au for BH3DD009
BH3DD009
| From (m) | To (m) | Grade (g/t Au) | Interval (m) |
| 47 | 48 | 0.6 | 1 |
| 48.2 | 48.8 | 0.40 | 0.6 |
| 48.8 | 49.1 | 1.70 | 0.3 |
| 49.1 | 49.6 | 2.49 | 0.5 |
| 50.5 | 51.5 | 0.61 | 1 |
| 51.5 | 52.4 | 1.08 | 0.9 |
| 52.4 | 52.7 | 1.90 | 0.3 |
| 52.7 | 53.4 | 28.06 | 0.7 |
| 53.4 | 54.2 | 1.14 | 0.8 |
| 54.2 | 54.6 | 0.93 | 0.4 |
| 54.6 | 55.1 | 0.46 | 0.5 |
| 55.1 | 55.7 | 0.77 | 0.6 |
| 55.7 | 56.7 | 0.25 | 1 |
| 57.7 | 58.7 | 0.17 | 1 |
| 58.7 | 59.2 | 0.14 | 0.5 |
| 59.2 | 60.2 | 0.43 | 1 |
FUTURE WORK
The initial results for drill holes BH3DD010 and BH3DD011 are due shortly. Samples from these two holes are currently being processed at the laboratory, and we expect to deliver regular drilling updates in the run up to the Christmas period. While these results are still early in the campaign, the identification of the Maori anticline and its association with high-grade gold mineralisation will now be the main focus for the next drilling campaign.
Early observations of HR3 drill cores are revealing exciting structures that appear to correlate across the HR3 goldfield. Re-construction will be key to identifying gold mineralisation patterns. A 10cm solid antimony vein was observed in recently drilled BH3DD019 around 143m depth, and is on trend to be on the northerly strike of the Maori Reef at depth. MGA’s Bendigo-based geology department will continue to gather and assimilate project data.
REVIEW OF ANNOUNCEMENT BY QUALIFIED PERSON
This announcement has been reviewed by Adam Jones, a director of ECR Minerals plc. Adam Jones is a professional geologist and is a Member of the Australian Institute of Geoscientists (MAIG). He is a qualified person as that term is defined by the AIM Note for Mining, Oil and Gas Companies.
MARKET ABUSE REGULATIONS (EU) No. 596/2014
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (MAR). Upon the publication of this announcement via Regulatory Information Service (RIS), this inside information is now considered to be in the public domain.
FOR FURTHER INFORMATION, PLEASE CONTACT:
| ECR Minerals plc | Tel: +44 (0) 20 7929 1010 | ||
| David Tang, Non-Executive Chairman | |||
| Email: | |||
| Website: www.ecrminerals.com | |||
| WH Ireland Ltd | Tel: +44 (0) 161 832 2174 | ||
| Nominated Adviser | |||
| SI Capital Ltd | Tel: +44 (0) 1483 413500 | ||
| Broker | |||
| Nick Emerson | |||
| Novum Securities Limited | Tel: +44 (0) 20 7399 9425 | ||
| Broker
Jon Belliss |
|||
| Blytheweigh | 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 has earned a 25% interest in the Danglay gold project; an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines, which has a 43-101 compliant resource. ECR also holds a royalty on the SLM gold project in La Rioja Province, Argentina and can potentially receive up to US$2.7 million in aggregate across all licences.
ECR Minerals #ECR CEO Craig Brown talks to Steve Darling at Proactive Investors
ECR Minerals #ECR CEO Craig Brown talks to Steve Darling at Proactive Investors. Craig provides an update on its current aggressive drill programs in Victoria, Australia at its flagship Bailieston and Creswick projects.
Craig also discusses the objectives of the drill campaigns and the arrival of a third multi-purpose rig which is due on site shortly. Brown also discusses recent developments in the Philippines as well as funding and offers up his thoughts on the gold price and what it means for the company’s projects.
ECR Minerals #ECR – Initial Results From The First Ever Drilling Campaign at Cherry Tree (HR4) Identify Anticlinal Hinge Anomaly
ECR Minerals plc (LON: ECR), the gold exploration and development company focussed on gold exploration in Australia, is pleased to announce initial results from its first drilling campaign at Cherry Tree (“Historic reserve number 4”, “HR4”, “Cherry Tree”) at the Bailieston Project in central Victoria, Australia.
ECR Minerals plc has 100% ownership of Bailieston Project which is operated under its Australian owned subsidiary Mercator Gold Australia Pty Ltd (“MGA”).
Craig Brown, Chief Executive Officer of ECR Minerals plc, commented:
“Following the purchase of our second drilling rig, ECR’s strong funding position and growing local infrastructure ensures the Company can continue to maintain a series of aggressive drilling campaigns across the Victoria Goldfields. We have also made a small bit of history; ECR’s Australian subsidiary MGA completed the first ever diamond drillhole at Cherry Tree (HR4) and I am delighted to report a highly significant early result there from hole BCTDD003, both in terms of the geological setting and the gold mineralisation identified.”
“As the data continues to arrive, our senior geologists are working hard to ascertain structural geological interpretations. It is widely accepted that culminations in folded strata cut by shears and faults are favoured locations for deposition of thrust-reef style lode gold deposits, and with the cross-striking faults at this anticline filled with quartz-gold-bearing fluids in Holes BCTDD001, BCTDD002 and BCTDD003, there is encouraging early evidence. We are keen to see what the next raft of data will reveal so we can determine our next exploration steps.”
HIGHLIGHTS:
- Hole BCTDD001, the first ever diamond drilling work undertaken at HR4 has delineated an anticlinal hinge striking through the centre of the goldfield.
- Holes BCTDD002 and BCTDD003 were drilled to define cross striking faults. Drilling continues using orientated diamond drill-core for structural geological interpretation
- Hole BCTDD003 shows broad zones of low-grade gold mineralisation, often associated with anomalously high Arsenic (pXRF readings). The best intercept includes 0.5m @ 11.02 g/t Au from 98.85m depth.
PROGRESS AT CHERRY TREE
Hole BCTDD001, the first ever diamond drillhole completed at HR4 has delineated an anticlinal hinge striking through the centre of the goldfield. This anticline forms the geological backbone of mineralisation at Cherry Tree where cross-striking faults to this anticline have filled with quartz-gold-bearing fluids. Holes BCTDD002 and BCTDD003 were drilled to define such cross striking faults.
MGA continues to drill orientated diamond core to gain structural geological information, and recently drilled holes BCTDD004 and BCTDD005 were designed to test the interpreted position of multiple cross-striking faults. Geological logging of BCTDD004 and BCTDD005 is currently in progress.
Hole BCTDD003 shows broad zones of low-grade mineralisation, often associated with high Arsenic (pXRF readings). The best intercept includes 0.5m @ 11.02 g/t Au from 98.85m depth.
DETAILS OF ALL INTERCEPTS CONTAINING REPORTABLE LEVELS OF GOLD GREATER THAN 0.1 G/T – HOLES BCTDD001-003
| BCTDD001 | |||||||
| From
(m) |
To
(m) |
Grade Au g/t | Interval
(m) |
||||
| BCTDD001 | No significant intercepts 0.1 g/t Au | ||||||
| Results greater than 0.1 g/t Au | |||||||
| From
(m) |
To
(m) |
Grade Au g/t | Interval
(m) |
||||
| BCTDD002 | 65.6 | 66.1 | 1.08 | 0.5 | Associated with high Arsenic pXRF | ||
| BCTDD002 | 87 | 88 | 1.14 | 1 | Associated with high Arsenic pXRF | ||
| BCTDD002 | |||||||
| Other broad mineralised zones results noted | |||||||
| From
(m) |
To
(m) |
Grade Au g/t | Interval
(m) |
||||
| BCTDD002 | 68.3 | 69.3 | 0.11 | 1 | Broad LG zone associated with | ||
| BCTDD002 | 69.3 | 70.3 | 0.22 | 1 | higher arsenic. 4m @ 0.19 g/t Au | ||
| BCTDD002 | 70.3 | 71.3 | 0.2 | 1 | |||
| BCTDD002 | 71.3 | 72.3 | 0.24 | 1 | |||
| BCTDD003 | |||||||
| Results greater than 0.1 g/t Au | |||||||
| From
(m) |
To
(m) |
Grade Au g/t | Interval
(m) |
||||
| BCTDD003 | 74.9 | 75.5 | 1.11 | 0.6 | 0.6m @ 1.11 g/t Au | ||
| BCTDD003 | 79.7 | 80 | 1.01 | 0.3 | 0.3m @ 1.01 g/t Au | ||
| BCTDD003 | 98.85 | 99.35 | 11.02 | 0.5 | 0.5m @ 11.02 g/t Au | ||
REVIEW OF ANNOUNCEMENT BY QUALIFIED PERSON
This announcement has been reviewed by Adam Jones, a director of ECR Minerals plc. Adam Jones is a professional geologist and is a Member of the Australian Institute of Geoscientists (MAIG). He is a qualified person as that term is defined by the AIM Note for Mining, Oil and Gas Companies.
MARKET ABUSE REGULATIONS (EU) No. 596/2014
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (MAR). Upon the publication of this announcement via Regulatory Information Service (RIS), this inside information is now considered to be in the public domain.
OR FURTHER INFORMATION, PLEASE CONTACT:
| ECR Minerals plc | Tel: +44 (0)20 7929 1010 | ||
| David Tang, Non-Executive Chairman | |||
| Craig Brown, Director & CEO | |||
| Email: | |||
| Website: www.ecrminerals.com | |||
| WH Ireland Ltd | Tel: +44 (0)161 832 2174 | ||
| Nominated Adviser | |||
| SI Capital Ltd | Tel: +44 (0)1483 413500 | ||
| Broker |
Nick Emerson
|
Novum Securities Limited Broker Jon Belliss |
Tel: +44 (0)20 7399 9425 |
Brand Communications
Public Relations Tel: +44 (0) 7976 431608
Alan Green
NOTES AND FULL INTERCEPT SUMMARY
| BCTDD001 | ||||||
| From
(m) |
To
(m) |
Grade Au g/t | Interval
(m) |
|||
| BCTDD001 | No significant intercepts 0.1 g/t Au | |||||
| Results greater than 0.1 g/t Au | ||||||
| From
(m) |
To
(m) |
Grade Au g/t | Interval
(m) |
|||
| BCTDD002 | 65.6 | 66.1 | 1.08 | 0.5 | Associated with high Arsenic pXRF | |
| BCTDD002 | 87 | 88 | 1.14 | 1 | Associated with high Arsenic pXRF | |
| BCTDD002 | ||||||
| Other broad mineralised zones results noted | ||||||
| From
(m) |
To
(m) |
Grade Au g/t | Interval
(m) |
|||
| BCTDD002 | 68.3 | 69.3 | 0.11 | 1 | Broad LG zone associated with | |
| BCTDD002 | 69.3 | 70.3 | 0.22 | 1 | higher arsenic. 4m @ 0.19 g/t Au | |
| BCTDD002 | 70.3 | 71.3 | 0.2 | 1 | ||
| BCTDD002 | 71.3 | 72.3 | 0.24 | 1 | ||
| BCTDD003 | ||||||
| Results greater than 0.1 g/t Au | ||||||
| From
(m) |
To
(m) |
Grade Au g/t | Interval
(m) |
|||
| BCTDD003 | 74.9 | 75.5 | 1.11 | 0.6 | 0.6m @ 1.11 g/t Au | |
| BCTDD003 | 79.7 | 80 | 1.01 | 0.3 | 0.3m @ 1.01 g/t Au | |
| BCTDD003 | 98.85 | 99.35 | 11.02 | 0.5 | 0.5m @ 11.02 g/t Au | |
| Other broad mineralised zones results noted | ||||||
| From
(m) |
To
(m) |
Grade Au g/t | Interval
(m) |
|||
| BCTDD003 | 28 | 29 | 0.24 | 1 | 1.3m @ 0.24 g/t Au | |
| BCTDD003 | 29 | 29.3 | 0.23 | 0.3 | ||
| BCTDD003 | 31 | 32 | 0.22 | 1 | LG zone 20.3m @ 0.35 g/t | |
| BCTDD003 | 32 | 32.7 | 0.23 | 0.7 | ||
| BCTDD003 | 32.7 | 33.2 | 0.9 | 0.5 | ||
| BCTDD003 | 33.2 | 34.2 | 0.94 | 1 | ||
| BCTDD003 | 34.2 | 35.1 | 0.16 | 0.9 | ||
| BCTDD003 | 35.1 | 36.1 | 0.1 | 1 | ||
| BCTDD003 | 36.1 | 36.5 | 0.48 | 0.4 | ||
| BCTDD003 | 36.5 | 37.5 | 0.53 | 1 | ||
| BCTDD003 | 37.5 | 38.5 | 0.34 | 1 | ||
| BCTDD003 | 38.5 | 39 | 0.36 | 0.5 | ||
| BCTDD003 | 39 | 40 | 0.6 | 1 | ||
| BCTDD003 | 40 | 41 | 0.55 | 1 | ||
| BCTDD003 | 41 | 42 | 1.13 | 1 | ||
| BCTDD003 | 42 | 42.5 | 0.17 | 0.5 | ||
| BCTDD003 | 42.5 | 43.5 | 0.14 | 1 | ||
| BCTDD003 | 43.6 | 44.5 | 0.13 | 0.9 | ||
| BCTDD003 | 44.5 | 45.1 | 0.29 | 0.6 | ||
| BCTDD003 | 45.1 | 46.1 | 0.11 | 1 | ||
| BCTDD003 | 46.1 | 47.1 | 0.21 | 1 | ||
| BCTDD003 | 47.1 | 48.1 | 0.14 | 1 | ||
| BCTDD003 | 48.1 | 49.1 | 0.16 | 1 | ||
| BCTDD003 | 49.1 | 50.1 | 0.21 | 1 | ||
| BCTDD003 | 50.1 | 51.4 | 0.11 | 1.3 | ||
| BCTDD003 | 54.1 | 55.1 | 0.37 | 1 | LG zone 17m @ 0.21 g/t Au | |
| BCTDD003 | 55.1 | 56.1 | 0.23 | 1 | ||
| BCTDD003 | 56.1 | 57.1 | 0.1 | 1 | ||
| BCTDD003 | 57.1 | 58.1 | 0.1 | 1 | ||
| BCTDD003 | 58.6 | 59.6 | 0.28 | 1 | ||
| BCTDD003 | 59.6 | 59.9 | 0.48 | 0.3 | ||
| BCTDD003 | 59.9 | 60.4 | 0.5 | 0.5 | ||
| BCTDD003 | 60.4 | 60.9 | 0.16 | 0.5 | ||
| BCTDD003 | 60.9 | 61.4 | 0.41 | 0.5 | ||
| BCTDD003 | 61.4 | 62 | 0.74 | 0.6 | ||
| BCTDD003 | 62 | 62.5 | 0.14 | 0.5 | ||
| BCTDD003 | 62.5 | 63.2 | 0.33 | 0.7 | ||
| BCTDD003 | 63.2 | 63.8 | 0.15 | 0.6 | ||
| BCTDD003 | 63.8 | 64.5 | 0.13 | 0.7 | ||
| BCTDD003 | 64.5 | 65.3 | 0.1 | 0.8 | ||
| BCTDD003 | 65.3 | 66.1 | 0.12 | 0.8 | ||
| BCTDD003 | 66.1 | 66.7 | 0.13 | 0.6 | ||
| BCTDD003 | 66.7 | 67.4 | 0.13 | 0.7 | ||
| BCTDD003 | 67.4 | 68.4 | 0.15 | 1 | ||
| BCTDD003 | 68.4 | 69 | 0.16 | 0.6 | ||
| BCTDD003 | 69 | 70 | 0.1 | 1 | ||
| BCTDD003 | 70 | 70.6 | 0.11 | 0.6 | ||
| BCTDD003 | 70.6 | 71.6 | 0.15 | 1 | ||
| BCTDD003 | 89.6 | 89.8 | 0.82 | 0.2 | 11m @ 1.14 g/t Au | |
| BCTDD003 | 89.8 | 90.05 | 1.4 | 0.25 | (incl 0.5m @ 11.02 g/t Au from 98.85m) | |
| BCTDD003 | 90.05 | 90.9 | 0.54 | 0.85 | ||
| BCTDD003 | 90.9 | 91.9 | 0.31 | 1 | ||
| BCTDD003 | 91.9 | 92.4 | 1.17 | 0.5 | ||
| BCTDD003 | 92.4 | 93.4 | 0.1 | 1 | ||
| BCTDD003 | 93.4 | 94.4 | 0.1 | 1 | ||
| BCTDD003 | 94.4 | 94.9 | 1.65 | 0.5 | ||
| BCTDD003 | 94.9 | 95.4 | 0.48 | 0.5 | ||
| BCTDD003 | 95.4 | 96.4 | 0.34 | 1 | ||
| BCTDD003 | 96.4 | 96.9 | 0.26 | 0.5 | ||
| BCTDD003 | 96.9 | 97.8 | 0.15 | 0.9 | ||
| BCTDD003 | 97.8 | 98.4 | 0.1 | 0.6 | ||
| BCTDD003 | 98.4 | 98.85 | 0.12 | 0.45 | ||
| BCTDD003 | 98.85 | 99.35 | 11.02 | 0.5 | ||
| BCTDD003 | 99.35 | 100 | 0.27 | 0.65 | ||
| BCTDD003 | 100 | 100.6 | 0.15 | 0.6 | ||
ABOUT ECR MINERALS PLC
ECR Minerals is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd (“MGA”) has 100% ownership of the Bailieston and Creswick gold projects in central Victoria, Australia, has eight licence applications outstanding including two licence applications lodged in eastern Victoria. (Tambo gold project). MGA is currently drilling at both the Bailieston and Creswick projects and has an experienced exploration team with significant local knowledge in the Victoria Goldfields and wider region.https://mercatorgold.com.au
ECR also owns 100% of an Australian subsidiary LUX Exploration Pty Ltd (“LUX”) which has three licence applications covering 900 km2 covering a relatively unexplored area in Queensland, Australia. https://luxexploration.com
Following the sale of the Avoca, Moormbool and Timor gold projects in Victoria, Australia to Fosterville South Exploration Ltd (TSX-V: FSX) and the subsequent spin-out of the Avoca and Timor projects to Leviathan Gold Ltd (TSX-V: LVX), Mercator Gold Australia Pty Limited has the right to receive up to A$2 million in payments subject to future resource estimation or production from projects sold to Fosterville South Exploration Limited.
ECR has earned a 25% interest in the Danglay gold project; an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines, which has a 43-101 compliant resource. ECR also holds a royalty on the SLM gold project in La Rioja Province, Argentina and can potentially receive up to US$2.7 million in aggregate across all licences.
ECR Minerals #ECR – CEO and geologist upbeat as first Creswick hole hits gold
ECR Minerals PLC’s (LON:ECR) CEO Craig Brown and director and geologist Adam Jones update Proactive on drilling at its Creswick and Bailieston gold projects in Victoria, Australia.
ECR’s this week announced it has intersected gold with the first hole drilled into the Dimocks Main Shale (DMS) at Creswick. The first four drill holes at the project are now complete.
Adam Jones comments on the quality of both prospects, and says Creswick is coming up fast behind Bailieston for prospectivity… ‘a mine at both places’
ECR Minerals #ECR – Friday drilling update from the Bailieston project:
ECR Minerals #ECR Friday drilling update from the Bailieston Gold project in the Victoria Goldfields:
~ 8 diamond drill holes completed at HR3
~ Midas drill rig will shortly start work at the Cherry Tree prospect
~ sited c30km east of Fosterville Gold Mine
ECR Minerals #ECR – High-Grade Drilling Results at Bailieston Gold Project, Victoria Goldfields, Australia
ECR Minerals plc (LON: ECR), the gold exploration and development company, is pleased to announce high-grade drilling results from the Bailieston gold project in the Victoria Goldfields, Australia. The Bailieston project is 100% owned by ECR’s wholly owned Australian subsidiary Mercator Gold Australia (“MGA”).
Craig Brown, Chief Executive Officer of ECR Minerals plc, commented: “These are the first results generated by our new drilling rig, and to our knowledge they are also the first diamond drilling results ever obtained from the HR3 area. The extra geological insight afforded by diamond drilling will be of great use in vectoring further work, and this is an advantage which previous explorers have not had.
As is to be expected with early-stage exploration drilling, not all holes reported today have intersected significant gold mineralisation, but we are very encouraged by the fact that BH3DD001 returned two high-grade intercepts, including one of 0.5 metres at 19 g/t gold, and all holes have provided data which will feed into our evolving geological model for the area. Drilling is continuing and we look forward to reporting the next round of results.
We remain as excited as ever about the potential of the Bailieston gold project, which is located around 30 kilometres from the Fosterville gold mine owned by Kirkland Lake Gold and which includes the Blue Moon gold discovery confirmed by high-grade results from previous drilling by ECR.”
HIGHLIGHTS:
- Five diamond drillholes across the Historic Reserve #3 (HR3) area covering the Byron and Maori reef lines have been completed for a total of 1082m. Drilling at Byron shows west dipping sediments whereas drilling at Maori intersected all east (and south-east) dipping beds, indicating the possibility of anticline-related gold mineralisation between the two reefs.
- Drilling of BH3DD006 is currently in progress to test a hypothesised anticline that may exist in the vicinity of the Dan Genders-Scoulers line of workings. Historic shallow gold workings may be small reefs linking and coalescing to a much larger fault related anticline system at depth.
- Drilling to date has been on the periphery of a central mineralised system (Byron and Maori Reef lines). Drilling has been through mostly shales, however sandy bedding, which is best for brittle vein development is expected to be more likely in the central part of the HR3 goldfield.
- Drillhole BH3DD001 into the Byron Reef returned a high-grade intersection of 0.5m @ 19 g/t Au from 110.9m downhole. Furthermore, a potentially new mineralised system was intersected at 157m (1m @ 4.25 g/t Au). Rubbly quartz from this same intersection assayed 21.1 g/t Au.
- Drilling of BH3DD005 into the Maori Reef shows an increase in sandy bedding and sulphide development compared to the Byron Mine area. Final assay results for this hole are pending.
- Geochemical soil sampling has been completed over half of the HR3 goldfield. Some 720 samples have been taken with 229 samples currently being analysed for key gold pathfinder elements, and these results will assist with drill targeting.
SUMMARY OF DRILLING TO DATE
(fig. 1) – Plan showing locations of 2021 drilling, historical gold workings and reef lines.
https://www.ecrminerals.com/images/0421fig1.jpg
BYRON REEF
908m of the 1082m total drilling to date has been drilled into the Byron Reef surrounding the historic Byron Mine. Production records show the Byron Mine to have produced a total of 8698 tonnes for 4416 oz (average 15.5 g/t Au), indicating it was the biggest producer within the HR3 goldfield. On this basis and considering the relative ease of drilling access at Byron, holes BH3DD001 to BH3DD004 were drilled into this reef.
BH3DD001
This hole was designed to test the down-dip mineralisation underneath the historic Byron Mine and understand the structural context of the orebody. The target (Byron Main Reef) intersected a milky, massive-vuggy quartz reef with laminated margins, 5.3m in apparent thickness. A visible speck of gold was seen when sampling the core. Results show the laminated hanging-wall portion of this reef contains the gold with assay returning (0.5m @ 19.0 g/t Au) from 110.9m. The massive-vuggy portion of the reef did not return gold. Additionally, a newly discovered potential mineralised position occurs in thin, overturned sands containing perpendicular veins that returned (1m @ 4.25 g/t Au) from 157m. Furthermore, cave-in (rubbly quartz) resulting from a drill bit change within these veins at the same depth of 157m returned 21.1 g/t Au. Drilling continued into the footwall of the reef to end of hole at 296.6m depth. The entire hole was drilled down the western limb of a large anticline, likely to exist at an unknown distance to the east. A parallel reef system known as ‘Scoulers Reef’ may be situated on such an anticline.
BH3DD002
BH3DD002 was drilled to test the vertical down-dip extension of the Byron Main Reef intersected in BH3DD001. The reef was drilled through at 144m down hole where the vein had narrowed to 25cm in width. Assay results show no significant intercepts with gold below the detection limit (BDL). There is 40m in vertical difference between the reef intersection in BH3DD001 and BH3DD002. Drilling continued to test the hypothesis that the reef may be bedding-parallel and be dipping back under eastwards, however no additional quartz related mineralisation was intersected. No sulphides were visible and portable XRF (pXRF) readings failed to identify any significant pathfinder elements in the quartz or surrounding wall-rock. This hole ended at 242.5m depth.
(fig. 2) – Geological interpretation and best results are shown.
https://www.ecrminerals.com/images/0421fig2.jpg
BH3DD003
BH3DD003 was designed to test the hypothesised down-plunge shoot extension of the Byron Main Reef to the north of BH3DD001 and BH3DD002. In reference to the deepest known historical workings in the Byron Mine on long-section and the down-dip direction of mined stopes, the productive mineralised portion of the reef, known as a ‘shoot’ possibly plunges to the north (fig. 3). The reef was intersected at 126.3m downhole where flexures in the bedding caused a large body of quartz-sulphide development. This mineralisation continued to 147.5m. Best results were 0.8m @ 1.19 g/t Au from 135.8m depth.
https://www.ecrminerals.com/images/0421fig3.jpg
BH3DD004
BH3DD004 was drilled to test the vertical extent of the large quartz-sulphide dilation intersected in BH3DD003. The conclusion of this drillhole, as with BH3DD002, was that the width of the Byron Reef narrows and has no grade continuity at this depth.
(fig. 4) – Geological interpretation of BH3DD003 and BH3DD004 shown.
https://www.ecrminerals.com/images/0421fig4.jpg
MAORI REEF
BH3DD005
BH3DD005 was designed to test the structural context of the Maori Reef. Bedding is shown to be dipping towards the east and south-east directions. Between 76 and 151 metres the host rocks are more sand dominated and below this zone a 40cm wide laminated quartz vein was intersected. This hole was drilled to a final depth of 174.3 metres. Assays results are pending for this hole.
ANTICLINE HYPOTHESIS
BH3DD006
Drilling to date covers the western and eastern boundaries of the currently known mineralisation within the HR3 goldfield. Geological observations of drilling to date confirms the lithology of the bedding to be more sand dominant in the vicinity of the Maori Reef. Bedding dips towards the west at the Byron Mine and dips east to south-east at the Maori Reef, suggesting a main anticline hinge zone to exist between these two reef lines. It is likely the north-west striking Dan Genders Reef and Scoulers Reef systems may be linked to a potential larger anticline-system at depth. (refer to fig. 1 for reef locations). Similar anticline-related faulting is seen at the nearby old Bailieston open pit (located 2.8km to the north) and characteristic elsewhere in Central Victoria. BH3DD006 is currently being drilled across strike of the Dan Genders Reef to test this hypothesis.
(fig. 5) – Hypothesised Central Anticline Model.
https://www.ecrminerals.com/images/0421fig5.jpg
Table A Details of current drilling and significant intercepts to date (April 2021).
|
HOLE ID |
EASTING (GDA Zone 55) |
NORTHING (GDA Zone 55) |
DIP |
AZIMUTH (True North) |
TOTAL DEPTH (metres) |
SIGNIFICANT INTERCEPTS |
|
BH3DD001 |
326313 |
5931394 |
-60 |
060 |
296.6 |
0.5m @ 19.0 g/t Au from 110.9m 1m @ 4.25 g/t Au from 157m* *rubbly quartz from this zone re-assayed 21.1 g/t Au |
|
BH3DD002 |
326313 |
5931394 |
-70 |
060 |
242.5 |
No significant intercepts (below detection limit) |
|
BH3DD003 |
326313 |
5931394 |
-60 |
023 |
165.6 |
0.8m @ 1.19 g/t Au from 135.8m |
|
BH3DD004 |
326313 |
5931394 |
-67 |
023 |
203 |
No significant intercepts |
All samples were assayed by Gekko Systems Pty Ltd in Ballarat, Australia.
Review of Announcement by Qualified Persons
The Exploration Results in this report have been compiled by Adam Jones and Dr Rodney Boucher.
Adam Jones is a Member of the Australian Institute of Geoscientists (MAIG). Adam Jones has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration, and to the activity which he is undertaking, to qualify as a Competent Person as defined in the 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. He consents to the inclusion in this report of these matters based on the information in the form and context in which it appears.
This announcement has been reviewed by Dr Rodney Boucher of Linex Pty Ltd. Linex Pty Ltd provides geological services to Mercator Gold Australia Pty Ltd, including the services of Dr Boucher, who has a PhD in geology, is a Member and RPGeo of the Australian Institute of Geoscientists and is a Member of the Australasian Institute of Mining and Metallurgy. Dr Boucher 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 Regulation (EU) No. 596/2014 (MAR) (as in force in the United Kingdom pursuant to the European Union (Withdrawal) Act 2018). 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:
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ECR Minerals plc |
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Tel: +44 (0)20 7929 1010 |
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David Tang, Non-Executive Chairman |
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Craig Brown, Director & CEO |
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Email: |
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Website: www.ecrminerals.com |
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WH Ireland Ltd |
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Tel: +44 (0)161 832 2174 |
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Nominated Adviser |
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Katy Mitchell/James Sinclair-Ford |
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SI Capital Ltd |
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Tel: +44 (0)1483 413500 |
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Joint Broker Nick Emerson
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Novum Securities Limited |
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Tel: +44 (0) 20 7399 9400 |
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Joint Broker |
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Jon Belliss
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ABOUT ECR MINERALS PLC
ECR Minerals is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd has 100% ownership of the Bailieston and Creswick gold projects in central Victoria, Australia, and two license applications lodged in eastern Victoria for the Tambo Gold project. ECR is currently drilling high priority targets on the Bailieston gold project using the Company’s own diamond drill rig, backed by a support network at the company’s central Victoria HQ at Bendigo. ECR has an experienced exploration team with significant local knowledge in the Victoria Goldfields and wider region.
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), ECR has the right to receive up to A$2 million in payments subject to future resource estimation or production at any of those projects.
ECR has earned a 25% interest in the Danglay gold project, an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines, and holds a royalty on the SLM gold project in La Rioja Province, Argentina.