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ECR Minerals #ECR – Further Significant Increase of Gold Grades at Creswick & Exploration Activities Update
ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to provide the final bulk sampling results from its reverse circulation drilling programme at the Kuboid Hill site in Creswick earlier this year. Bulk sampling of drilled material highlights high-grade pockets of gold within the broader scale mineralisation footprint.
The Company also provides an update on its operations at Bailieston and Tambo in Victoria as well as its forthcoming plans in Queensland.
HIGHLIGHTS
- Five bulk samples upgrade initial Kuboid Hill drill results. Most significant is the upgrade from 1m @ 1.04 g/t Au to 1m @ 8.37 g/t Au
- Results expected shortly from photon assay pilot testing at Tambo Project
- Analysis underway for antimony in selected diamond core from Bailieston, Victoria
- Resumed field operations in Queensland at Lolworth Project, focusing on priority targets including Gorge Creek, Reedy Creek, and Butterfly Creek, with stream samples yielding up to 1395 ppm Au
- Additional test work at Blue Mountain, Queensland expected to commence within weeks.
- ECR is fully funded for its planned work programs in Victoria and Queensland in 2024.
Details of the Programmes
Creswick
As announced on 8 April 2024, a total of 1,032 metres of reverse circulation (“RC”) drilling was completed at Kuboid Hill on 16 February 2024. This was the second part of an extended reverse circulation drilling programme at Creswick, following on from 522 metres completed at Davey Road where, as previously announced on 12 February 2024, ECR reported a best overall grade gold of 41.03g/t Au. The Kuboid Hill programme was designed to follow up on the Company’s anomalous gold soil sampling campaign that was completed in 2022.
Final bulk sampling results for the outstanding 13 RC drill holes at Kuboid Hill, consistent with the results reported on 7 May 2024, have revealed higher gold content. This was anticipated because of the presence of coarse gold in the area. Five bulk samples are now evidencing significant intercepts, the most prominent of which is an increase from 1m @ 1.04 g/t Au to 1m @ 8.37 g/t Au in hole KHRC005 from 17m depth. The bulk sampling of the other drill holes did not return any reportable results. These findings support the presence of higher-grade gold pockets within a broader low-grade mineralisation halo at Kuboid Hill which differs from Davey Road’s narrow vein, higher-grade style of mineralisation. The results provide encouragement that similar mineralisation styles exist within the Creswick license area.
Details of Significant Intercepts from the Latest Bulk Sampling (Kuboid Hill RC Drilling) > 0.5 g/t
| HOLE | Sample | From | To | Bulk g/t | Original g/t |
| KHRC005 | CRB1357 | 17 | 18 | 8.37 | 1.04 |
| KHRC001 | CRB1549 | 19 | 20 | 1.78 | 0.27 |
| KHRC006 | CRB1231 | 19 | 20 | 1.73 | 0.03 |
| KHRC010 | CRB543 | 20 | 21 | 1.03 | 0.51 |
| KHRC001 | CRB1539 | 10 | 11 | 0.71 | 0.03 |
Photon Assaying
ECR has submitted a number of Kuboid Hill bulk samples, as well as rock chips recently taken from its Tambo Project, for testing. Traditional fire assay methods will also be used to back up the results for comparison. Photon assaying is an emerging gold analysis method, which is environmentally friendly and available locally, providing quicker results with less preparation and non-destructive sample analysis. A number of well-known producing gold mines, including Fosterville, are currently employing this method of analysis.
Victoria Exploration – Tambo and Bailieston
ECR has now wrapped up its initial reconnaissance exploration on its Eastern Victorian licence at Swifts Creek, Tambo River (EL007484), focusing on the historic Duke of Cornwall mining area. The exploration team collected rock chips, including in-situ samples, and also completed a number of soil sample lines along the strike of mineralisation to identify pathfinder elements for future exploration programs. Initial findings from a year ago revealed arsenic, bismuth minerals and gold.
As previously announced, following the success of its stream sampling campaign at Bailieston, which produced best results of 798 ppb Au and 712 ppb Au, ECR is also re-analysing the core from its earlier drilling at the HR3 prospect at Bailieston for antimony. The Costerfield-Bailieston-Nagambie district is noted for economic veins of antimony and elevated antimony has been observed from previous pXRF analysis of the drill core.
Queensland Exploration Programme for 2024
Exploration plans for the 2024 season at the Lolworth Project, North Queensland, have resumed. Initial plans include following up on last year’s stream sample results at Butterfly Creek, Reedy Creek, and Upper Gorge Creek, where gold samples of up to 1395 ppm were reported. Soil sampling is also underway on selected ridgelines above these areas. Additionally, a sampling program for Niobium and Tantalum will be conducted on the eastern side of the project area this season.
In Central Queensland, a trenching program is expected to commence within weeks at the Blue Mountain Project. Prospects with previous alluvial gold findings will be revisited where the Board believes there is potential for a significant alluvial gold resource. Investigation of hard rock prospects in the area is also planned.
Mike Whitlow Chief Operating Officer said: “These positive results from our bulk sampling campaign are highly encouraging, validating the significant potential value we see in our Creswick gold assets. The discovery of higher-grade gold pockets within a broader low-grade mineralisation halo at Kuboid Hill provides additional evidence that similar mineralisation styles may be present within the Creswick license area. The extent of our drilling programme, and the volume of bulk samples, took time both in preparation and also for laboratory results and, going forward we will also be utilising new techniques, such as photon assaying, to expedite the delivery of future results.”
Adam Jones Chief Geologist added: “ECR is now entering a busy period with several exploration programmes underway across our portfolio of projects. I look forward to reporting back on the results of our initial exploration programs at Tambo in Victoria and our re-analysis for antimony in Bailieston. My time will now be focused on our follow-up activities in Queensland and I am particularly excited about the commencement of exploration at our Blue Mountain project where historical work conducted by the previous operator presents compelling opportunities, especially for its alluvial gold potential. At Lolworth, our soil sampling will follow up last year’s discovery of gold samples with concentrations of up to 1395 ppm and, later in the season, we will undertake a sampling program for niobium and tantalum on the eastern side of the project area.”
REVIEW OF ANNOUNCEMENT BY QUALIFIED PERSON
This announcement has been reviewed by Adam Jones, Chief Geologist 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) 1738 317 693 | ||
| Nick Tulloch, Chairman
Andrew Scott, Director |
|||
| Email: | |||
| Website: www.ecrminerals.com | |||
| WH Ireland Ltd | Tel: +44 (0) 207 220 1666 | ||
| Nominated Adviser
Katy Mitchell / Andrew de Andrade |
|||
| Axis Capital Markets Limited | Tel: +44 (0) 203 026 0320 | ||
| Broker | |||
| Ben Tadd/Lewis Jones | |||
| 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).
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 Lolworth Range, Queensland, Australia. The Company has also submitted a license application at Kondaparinga which is approximately 120km2 in area and located within the Hodgkinson Gold Province, 80km NW of Mareeba, North Queensland.
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), MGA 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. MGA also has approximately A$75 million of unutilised tax losses incurred during previous operations.
ECR holds a royalty on the SLM gold project in La Rioja Province, Argentina which could potentially receive up to US$2.7 million in aggregate across all licences.
ECR Minerals #ECR – Creswick drilling results illustrate potentially extensive presence of larger ore bodies
ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to provide additional results from its drilling programme at the Kuboid Hill site in its Creswick tenement. Significantly, this drilling campaign has demonstrated quartz/gold mineralisation continuity in the Creswick area with results having the hallmarks of a potential future small scale operation.
HIGHLIGHTS
- Two high grade results of 8.87g/t Au and 8.06g/t Au over 1 metre.
- Far more significant is the extensive broad mineralisation demonstrated in several holes where contiguous gold is present at 3.05g/t Au over 3 metres, 2.25g/t Au over 4 metres and 1g/t Au over 5 metres.
- This compares very favourably with historical mining operations elsewhere in Victoria with broad mineralisation where those grades averaged around 0.7 g/t Au.
- Aggregated 51 metres of mineralized quartz.
- The drilling returned significant intercepts with evidence of anomalous gold within 14 of the 15 holes drilled.
- Bulk sample testing at Creswick has indicated in the past both greater prevalence and higher grades of gold and this is being carried out now on the results for Kuboid Hill.
A total of 1,025 metres of reverse circulation drilling was completed at Kuboid Hill on 16 February 2024 (“Kuboid Hill Programme”). This was the second part of an extended reverse circulation drilling programme, following on from an original drilling programme of 522 metres completed at Davey Road where ECR reported a best overall grade gold of 41.03g/t Au (for full details of the results see announcement dated 12 February 2024). The Kuboid Hill Programme was designed to follow up on the Company’s anomalous gold soil sampling campaign that was completed in 2022 which indicated the potential for a broader system which can now be seen in the today’s results. The drilling also tested best practices for first pass drilling evaluation at Creswick where operators have had historical challenges of reporting a representative broad mineralisation gold grade due to the coarse and random nature of gold that is very often present in Central Victoria.
ECR has now received laboratory results for 15 out of the 17 holes drilled at Kuboid Hill, comprising leaching and fire assay. As with the Davey Road analysis, due to the nature of the course gold expected in this region, ECR then utilises dry-blowing and pan concentration on the ‘leftovers’ from the preliminary drilling results to reduce the gold bias and potentially coalesce the overall Au g/t result. These bulk samples results will follow in due course with the results from the final two holes also anticipated very soon. I.
The best individual grades so far are from two holes: 1m @ 8.87g/t Au (hole KHRC001) and 1m @ 8.06g/t Au (hole KHRC016).
Details of current drilling and significant intercepts > 1g/t
| HOLEID | From (m) | To (m) | Interval (m) | Sample ID | Au g/t |
| KHRC001 | 9 | 10 | 1 | CRC1538 | 8.87 |
| KHRC016 | 50 | 51 | 1 | CRC1146 | 8.06 |
| KHRC012 | 30 | 31 | 1 | CRC718 | 3.11 |
| KHRC010 | 24 | 25 | 1 | CRC547 | 2.23 |
| KHRC009 | 23 | 24 | 1 | CRC608 | 2.18 |
| KHRC007 | 20 | 21 | 1 | CRC1183 | 1.96 |
| KHRC010 | 23 | 24 | 1 | CRC546 | 1.95 |
| KHRC011 | 27 | 28 | 1 | CRC789 | 1.28 |
| KHRC014 | 42 | 43 | 1 | CRC853 | 1.25 |
However, what is far more significant is the extensive broad mineralisation demonstrated in several holes where contiguous gold is present at 3.05g/t Au over 3 metres, 2.25g/t Au over 4 metres and 1g/t Au over 5 metres. The drilling recorded intercepts greater than 0.5 g/t Au average over a total of 51 metres with the broadest identified mineralised zone being over 15 metres (KHRC010). All intercepts align along strike and dip to the same mineralised zone under Kuboid Hill. Previous drilling campaigns within the Creswick project have only identified narrow veins (often less than 1 metre) and high-grade gold mineralisation styles.
Identified Broad Mineralised Zones with intercepts
| HOLEID | From (m) | To (m) | Interval (m) | SampleID | Au g/t | Drilled intercept composite grade |
| KHRC001 | 9 | 10 | 1 | CRC1538 | 8.87 | 4m @ 2.41 g/t Au |
| KHRC001 | 10 | 11 | 1 | CRC1539 | 0.03 | |
| KHRC001 | 11 | 12 | 1 | CRC1540 | 0.26 | |
| KHRC001 | 12 | 13 | 1 | CRC1541 | 0.46 | |
| KHRC006 | 7 | 8 | 1 | CRC1218 | 0.96 | 4m @ 0.52 g/t Au |
| KHRC006 | 8 | 9 | 1 | CRC1219 | 0.03 | |
| KHRC006 | 9 | 10 | 1 | CRC1220 | 0.63 | |
| KHRC006 | 10 | 11 | 1 | CRC1221 | 0.45 | |
| KHRC007 | 19 | 20 | 1 | CRC1182 | 0.77 | 6m @ 0.57 g/t Au |
| KHRC007 | 20 | 21 | 1 | CRC1183 | 1.96 | |
| KHRC007 | 21 | 22 | 1 | CRC1184 | 0.12 | |
| KHRC007 | 22 | 23 | 1 | CRC1185 | 0.05 | |
| KHRC007 | 23 | 24 | 1 | CRC1186 | 0.32 | |
| KHRC007 | 24 | 25 | 1 | CRC1187 | 0.2 | |
| KHRC009 | 17 | 18 | 1 | CRC601 | 0.45 | 8m @ 0.52 g/t Au |
| KHRC009 | 18 | 19 | 1 | CRC602 | 0.12 | |
| KHRC009 | 19 | 20 | 1 | CRC604 | 0.03 | |
| KHRC009 | 20 | 21 | 1 | CRC605 | 0.14 | |
| KHRC009 | 21 | 22 | 1 | CRC606 | 0.58 | |
| KHRC009 | 22 | 23 | 1 | CRC607 | 0.03 | |
| KHRC009 | 23 | 24 | 1 | CRC608 | 2.18 | |
| KHRC009 | 24 | 25 | 1 | CRC609 | 0.59 | |
| KHRC010 | 20 | 21 | 1 | CRC543 | 0.51 | 15m @ 0.51 g/t Au |
| KHRC010 | 21 | 22 | 1 | CRC544 | 0.2 | |
| KHRC010 | 22 | 23 | 1 | CRC545 | 0.03 | |
| KHRC010 | 23 | 24 | 1 | CRC546 | 1.95 | |
| KHRC010 | 24 | 25 | 1 | CRC547 | 2.23 | |
| KHRC010 | 25 | 26 | 1 | CRC548 | 0.22 | |
| KHRC010 | 26 | 27 | 1 | CRC549 | 0.14 | |
| KHRC010 | 27 | 28 | 1 | CRC550 | 0.03 | |
| KHRC010 | 28 | 29 | 1 | CRC551 | 0.35 | |
| KHRC010 | 29 | 30 | 1 | CRC552 | 0.32 | |
| KHRC010 | 30 | 31 | 1 | CRC553 | 0.03 | |
| KHRC010 | 31 | 32 | 1 | CRC554 | 0.41 | |
| KHRC010 | 32 | 33 | 1 | CRC555 | 0.79 | |
| KHRC010 | 33 | 34 | 1 | CRC556 | 0.03 | |
| KHRC010 | 34 | 35 | 1 | CRC557 | 0.43 | |
| KHRC012 | 27 | 28 | 1 | CRC715 | 0.76 | 5m @ 1.00 g/t Au |
| KHRC012 | 28 | 29 | 1 | CRC716 | 0.26 | |
| KHRC012 | 29 | 30 | 1 | CRC717 | 0.21 | |
| KHRC012 | 30 | 31 | 1 | CRC718 | 3.11 | |
| KHRC012 | 31 | 32 | 1 | CRC719 | 0.67 | |
| KHRC014 | 42 | 43 | 1 | CRC853 | 1.25 | 3m @ 0.53 g/t Au |
| KHRC014 | 43 | 44 | 1 | CRC854 | 0.13 | |
| KHRC014 | 44 | 45 | 1 | CRC855 | 0.2 | |
| KHRC016 | 46 | 47 | 1 | CRC1142 | 0.27 | 6m @ 1.55 g/t Au |
| KHRC016 | 47 | 48 | 1 | CRC1143 | 0.03 | |
| KHRC016 | 48 | 49 | 1 | CRC1144 | 0.38 | |
| KHRC016 | 49 | 50 | 1 | CRC1145 | 0.42 | |
| KHRC016 | 50 | 51 | 1 | CRC1146 | 8.06 | |
| KHRC016 | 51 | 52 | 1 | CRC1147 | 0.16 |
Whilst this is still early stage, this drilling campaign at Kuboid Hill is the first time that ECR has demonstrated that broad-scale quartz/gold mineralisation exists in the Creswick area. Also significantly broad mineralisation is also present at shallow vertical depths. This compares very well with historical small-scale commercial mining operations elsewhere in Victoria with similar broad mineralisation where those grades averaged around 0.7 g/t Au (examples being the Bailieston open pit and the Nagambie open pit). Furthermore these previous mines were established when the gold price was much lower than it is today.
Drilling at Kuboid Hill was some 8km west of previous exploration undertaken at Davey Road which is associated with, or close to, the Dimocks Main Shale corridor (“DMS”). Kuboid Hill falls within another parallel mineralised system approximately 8km west of the DMS and shows early signs of the potential to generate a low-grade, bulk tonnage proposition. This is the first type of modern exploration applied within this part of Creswick.
ECR’s next steps are to dry-blow bulk sampling of anomalous and broad mineralisation zones as described above. This follow-on step at Davey Road produced some enhancement of the results there. These preliminary results from Kuboid Hill took some time to assemble given the extent of mineralisation zones but the Company anticipates the results of the final two drill holes and the bulk sampling will be completed more quickly. A further announcement will be made in due course.
Mike Whitlow Chief Operating Officer said: “These results point to, what the directors believe is, a significant breakthrough at Creswick where the geological features demonstrate a distinct difference from the challenges historically faced in the region which we have previously understood to be predominated by the sporadic or random nature of coarse nuggety gold. With this new analysis what we now understand is that Kuboid Hill has a potentially extensive presence of larger ore bodies from much broader quartz/gold mineralised zones.
“Our Creswick tenement covers a total of 192 square kilometres and investors will be aware that ECR has undertaken a considerable amount of work on our prospects there. We still have more to do but, importantly, what we can now see is the commercial potential in the aggregated 51 metres of mineralized quartz. Investors may recall a video released in January of this year featuring our Chairman, Nick Tulloch, and Chief Geologist, Adam Jones, standing in front of the former open pit gold mine just to the north of our Baileston tenement. To set today’s results in context, that Baileston mine produced approximately 20,000 oz at an average grade of around 0.7g Au/t, and whilst ECR’s Creswick tenement is still early stage, and there can be no guarantee it will produce gold, we consider this indicative of the potential in this area.
“We look forward to reporting our bulk samples shortly and, further to the placing we announced on 14 March 2024, we will shortly finalise and announce our 2024 work programme in Victoria and Queensland.”
REVIEW OF ANNOUNCEMENT BY QUALIFIED PERSON
This announcement has been reviewed by Adam Jones, Chief Geologist 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 | ||
| Nick Tulloch, Chairman
Andrew Scott, Director |
|||
| Email: | |||
| Website: www.ecrminerals.com | |||
| WH Ireland Ltd | Tel: +44 (0) 207 220 1666 | ||
| Nominated Adviser
Katy Mitchell / Andrew de Andrade |
|||
| Axis Capital Markets Limited | Tel: +44 (0) 203 026 0320 | ||
| Broker | |||
| Ben Tadd/Lewis Jones | |||
| SI Capital Ltd | Tel: +44 (0) 1483 413500 | ||
| Broker | |||
| Nick Emerson | |||
| Novum Securities Limited | Tel: +44 (0) 20 7399 9425 | ||
| Broker
Jon Belliss |
|||
| Brand Communications | Tel: +44 (0) 7976 431608 | ||
| Public & Investor Relations | |||
| Alan Green | |||
ECR Minerals #ECR – Additional Creswick drilling results raise overall gold grades
ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to provide additional results from its drilling programme at the Davey Road site in its Creswick tenement. These results comprise the bulk sample testing following the preliminary results announced on 5 February 2024.
HIGHLIGHTS
- Significant increase in grades overall with the best result now 41.03 g/t Au over 1 metre.
- Several other significant results including 10.26 g/t Au, 8.46 g/t Au and 6.22 g/t Au.
- Importantly, the bulk sample results show contiguous gold over multiple metres – of particular note, approximately 4.4 g/t Au average over 3 metres in hole 1 (between 36 – 39 metres depth).
- Bulk sample testing has indicated both greater prevalence and higher grades of gold.
- This phase of drilling completed on time and on budget and second phase of drilling at Kuboid Hill, Creswick now underway.
Bulk samples from the 20-30kg ‘leftovers’ from the preliminary drilling results were concentrated in a dry blower with subsequent panning consistently showing visible gold. Pan concentrate samples ranged in weight between 0.29kg and 1.79kg. A total of 32 samples were selected for testing from 1 metre intervals that showed anomalous gold.
The rig is now back on site at Kuboid Hill as the second phase of the Company’s drilling programme in Creswick gets fully underway. Further announcements will be made in due course.
Details of current drilling and significant intercepts > 0.5g/t
| Hole ID | Total depth (metres) | Significant intercepts in preliminary results | Significant intercepts following bulk sample testing | Concentrate weight (kg) |
| CDYRC001 | 66 | –
1m @ 2.53 g/t Au from 6m –
1m @ 2.42 g/t Au from 37m 1m @ 0.79 g/t Au from 38m 1m @ 0.53 g/t Au from 29m 1m @ 0.50 g/t Au from 30m – |
1m @ 2.03 g/t Au from 5m
41.03 g/t Au
1m @ 0.62 g/t Au from 26m 8.46 g/t Au
1.62 g/t Au
0.64 g/t Au
0.85 g/t Au
1m @ 3.19 g/t Au from 36m
|
0.59
0.54
1.24
0.92
0.89
0.53
0.94
1.04 |
| CDYRC002 | 84 | No significant intercepts reported | No significant intercepts reported | |
| CDYRC003 | 84 | No significant intercepts reported | 1m @ 0.63 g/t Au from 19m
|
0.57 |
| CDYRC004 | 84 | No significant intercepts reported | 1m @ 0.88 g/t Au from 54m
1m @ 3.47 g/t Au from 55m |
1.24
1.30 |
| CDYRC005 | 54 | 1m @ 23.39 g/t Au from 14m
1m @ 1.01 g/t Au from 15m |
10.26 g/t Au
0.41 g/t Au |
1.79
0.86 |
| CDYRC006 | 84 | No significant intercepts reported | No significant intercepts reported | |
| CDYRC007 | 66 | No significant intercepts reported | 1m @ 6.22 g/t Au from 12m | 1.09 |
Nick Tulloch Managing Director said: “These results at Davey Road are very promising indeed. As we anticipated, bulk sample analysis has provided far greater clarity on the prospect as well as indicating contiguous gold over multiple metres in depth. The higher grades now being indicated support our view that Creswick has the potential to become a very significant asset for our company. Drilling was completed on time and on budget and we have now commenced our follow-on drilling programme at nearby Kuboid Hill. We have much to look forward to from that campaign as we develop our ongoing analysis and understanding of the wider location.”
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
Nick Tulloch, Managing Director Andrew Scott, Director |
||||
| 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 eight active exploration tenements and two in application (Ballarat and Tambo).
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 Lolworth Range, Queensland, Australia. The Company has also submitted a license application at Kondaparinga which is approximately 120km2 in area and located within the Hodgkinson Gold Province, 80km NW of Mareeba, North Queensland.
Following the sale of the Avoca, Moormbool and Timor gold projects in Victoria, Australia to Fosterville South Exploration Ltd (TSX-V: FSX) and the subsequent spin-out of the Avoca and Timor projects to Leviathan Gold Ltd (TSX-V: LVX), Mercator Gold Australia Pty Limited has the right to receive up to A$2 million in payments subject to future resource estimation or production from projects sold to Fosterville South Exploration Limited.
ECR holds a 90% interest in the Danglay gold project; an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines, which has a 43-101 compliant resource. ECR also holds a royalty on the SLM gold project in La Rioja Province, Argentina and can potentially receive up to US$2.7 million in aggregate across all licences.
ECR Minerals #ECR – Preliminary findings from Creswick drilling
ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to provide the following preliminary update of its drilling programme at the Davey Road site in its Creswick tenement. Drilling was undertaken in December 2023.
HIGHLIGHTS
- Seven successful holes were drilled and there is extensive evidence of anomalous gold with the best result being 23.39 g/t Au over 1 metre.
- The best sample still has 4.7 g/t Au in the tailings of the initial results which is typical of coarse gold that ECR expects in this location.
- Around 30 additional bulk samples from the 20-30kg ‘leftovers’ from the preliminary drilling results have been concentrated in a dry blower. Panning of this material has consistently shown visible gold and these samples are being sent for laboratory testing.
- Variation in the preliminary results indicates a likely dipping vein (i.e. the gold mineralisation is not in a vertical structure) but the further analysis being undertaken is expected to assist with the geological interpretation.
The full results of this bulk sample testing are expected to be completed shortly.
Alongside this, the second phase of the Company’s drilling programme in Creswick (at Kuboid Hill) is ongoing and further announcements will be made in due course.
Details of current drilling and significant intercepts > 0.5g/t
| Hole ID | Total depth (metres) | Significant intercepts | Visible gold in bulk samples between interval (metres)
(awaiting assay results) |
| CDYRC001 | 66 | 1m @ 2.53 g/t Au from 6m
1m @ 2.42 g/t Au from 37m 1m @ 0.79 g/t Au from 38m 1m @ 0.53 g/t Au from 29m 1m @ 0.50 g/t Au from 30m |
0-1
5-7 30-31 36-39 |
| CDYRC002 | 84 | No significant intercepts to date but pending bulk sample analysis | |
| CDYRC003 | 84 | No significant intercepts to date but pending bulk sample analysis | |
| CDYRC004 | 84 | No significant intercepts to date but pending bulk sample analysis | 54-56 |
| CDYRC005 | 54 | 1m @ 23.39 g/t Au from 14m
1m @ 1.01 g/t Au from 15m |
13-16 |
| CDYRC006 | 84 | No significant intercepts to date but pending bulk sample analysis | |
| CDYRC007 | 66 | No significant intercepts to date but pending bulk sample analysis | 12-13 |
Mike Whitlow Chief Operating Officer said: “This is an encouraging start to our examination of Davey Road. Based on ECR’s work historically in this region, our expectation was that any gold would be both course and confined within narrow veins. These preliminary results support this assumption and consequently analysis of the bulk samples is a necessary step before we have a full picture of the geology. There is plenty so far to be pleased with but these results are indicative only and we look forward to gaining a better understanding of the location once full testing is complete.”
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
Nick Tulloch, Managing Director Andrew Scott, Director |
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| Email: | ||||
| Website: www.ecrminerals.com | ||||
| WH Ireland Ltd | Tel: +44 (0) 207 220 1666 | |||
| Nominated Adviser
Katy Mitchell / Andrew de Andrade |
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| SI Capital Ltd | Tel: +44 (0) 1483 413500 | |||
| Broker | ||||
| Nick Emerson | ||||
| Novum Securities Limited | Tel: +44 (0) 20 7399 9425 | |||
| Broker
Jon Belliss |
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| 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 eight active exploration tenements and two in application (Ballarat and Tambo).
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 Lolworth Range, Queensland, Australia. The Company has also submitted a license application at Kondaparinga which is approximately 120km2 in area and located within the Hodgkinson Gold Province, 80km NW of Mareeba, North Queensland.
Following the sale of the Avoca, Moormbool and Timor gold projects in Victoria, Australia to Fosterville South Exploration Ltd (TSX-V: FSX) and the subsequent spin-out of the Avoca and Timor projects to Leviathan Gold Ltd (TSX-V: LVX), Mercator Gold Australia Pty Limited has the right to receive up to A$2 million in payments subject to future resource estimation or production from projects sold to Fosterville South Exploration Limited.
ECR holds a 90% interest in the Danglay gold project; an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines, which has a 43-101 compliant resource. ECR also holds a royalty on the SLM gold project in La Rioja Province, Argentina and can potentially receive up to US$2.7 million in aggregate across all licences.
ECR Minerals #ECR – Creswick Drilling Campaign, Andrew Scott talks to Adam Jones
ECR Minerals Technical Director Adam Jones talks to Andrew Scott about Creswick campaign progress at the Davey Road prospect and how the team are refining the approach to prospecting in the region
- Quartz seen between 30-60m
- A gold shoot is believed to be located at a knoll at the Davey Road prospect
- Drilling into the shoot will help to work out the distribution of the gold grades and the estimated location of the main quartz trend and spur veins
- An estimated 50m of strike at the Kuboid Hill prospect