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ECR Minerals #ECR – Two Mineralisation Corridors Identified in Hole BH3DD032 at Bailieston, Victoria
ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce the final gold results from the 2022 drill program at the HR3 prospect at Bailieston.
ECR Minerals plc has 100% ownership of the Bailieston Project (EL5433), which contains the gold prospects known as HR3, Cherry Tree, Blue Moon and Black Cat. The projects are operated by ECR’s Australian wholly owned subsidiary Mercator Gold Australia Pty Ltd (“MGA”).
ECR CEO Andrew Haythorpe commented: “Some very encouraging grades have emerged from these results, and in particular the average of 9.01g/t over 4m at hole BH3DD043 could very likely result in follow up work, which is supported by our Technical Director Adam Jones. We will now evaluate this full dataset, decide on the next steps and report back in due course.”
“Drilling at Blue Moon is progressing and I look forward to reporting the lab results back to you as soon as they arrive.”
HIGHLIGHTS
- Best results in BH3DD043 with a composited grade of 9.01 g/t Au over a drilled width of 4 metres.
- Further results from the Maori Anticline include 1m @ 4.96 g/t Au (BH3DD042) at a depth of 273m
- Multiple intersections along strike of the Scoulers Reef including 0.2m @ 9.22 g/t Au (BH3DD042), 0.5m @ 4.55 g/t Au (BH3DD037) and 1m @ 3.34 g/t Au (BH3DD038)
A plan of the HR3 Goldfield and the location of this reported drilling with the 10 ten intercepts can be found here:
Fig 1: https://www.ecrminerals.com/images/2022/fig1_221015_Final_Drilling_Results_2022_HR3.png
BACKGROUND TO DRILL PROGRAM
ECR Minerals have been drilling targets throughout 2022 on their Bailieston tenements located in Victoria, Australia. Our drilling activity has been predominantly within the HR3 Goldfield, focussed on the main NNW striking gold-quartz mineralised systems including Byron Reef, Scoulers Reef and the Maori Reef. Initial drilling by ECR in 2021 focussed on the Byron Reef and indicated that gold mineralisation was not continuous (see RNS 1 below).
In early 2022 the focus shifted to the Maori Reef which is the most easternly known vein system within the HR3 Goldfield. ECR geologists concluded that the Maori Reef is hosted within an anticlinal fold now called the ‘Maori Anticline’. Early drilling into this anticline has been successful (Holes BH3DD009, BH3DD010 and BH3DD011). Drilling continued to follow the anticlinal fold to the north and in depth with successful intersections in holes BH3DD019, BH3DD012 and BH3DD034, which contained visible gold (see RNS dated 22 November 2021 for more details of these drill hole results, a link of which is also set out below).
The reported drill results in this announcement are for the final drilling completed to date at HR3 and follow up the best results adjacent to hole BH3DD034, and in additional test drilling into the parallel quartz reef systems. Drilling was completed at the end of July 2022. Final results have just been received after long delays in laboratory turn-around due predominantly to issues relating to the COVID-19 pandemic.
Previous Drill results for HR3
- 22 December 2021 – BH3DD010, BH3DD011;
https://polaris.brighterir.com/public/ecr_minerals_plc/news/rns/story/wkn801w
- 23 December 2021 – Bailieston (HR3) Soil Sampling
https://polaris.brighterir.com/public/ecr_minerals_plc/news/rns/story/rmzlq5w
- 14 March 2022 – BH3DD012, BH3DD034 (Visible Gold)
https://polaris.brighterir.com/public/ecr_minerals_plc/news/rns/story/xeekpyx
- 22 April 2022 – BH3DD027 (Hard-Up Reef)
https://polaris.brighterir.com/public/ecr_minerals_plc/news/rns/story/w0mnmnx
DETAILS OF FINAL DRILLING
A total of eight holes were drilled in this final stage of drilling, and a summary of the work and associated results are set out below. Full details of the drill results are set out at the end of this announcement:
BH3DD036
BH3DD036 was drilled underneath the north end of the Maori Reef at the point where historical workings ended. The Maori Anticline was passed through at 92m where the hinge faulted. The best result was 0.3m @ 0.28 g/t Au from 176m. Drilling ended at a depth of 206.55m
BH3DD037
The drill team moved to the centre of the HR3 Goldfield to test the Scoulers Reef near the surface. A selected number of the following drillholes were also extended to test the Maori Anticline at depth. BH3DD037 drilled underneath the coincidental reported soil ‘Anomaly C’ (see RNS dated 23 December 2021, a link for which is above) and the location of earlier high-grade rock chips. Drilling results show a broad zone of lower grade mineralisation (see Table 2 below). The best intersection was 0.5m @ 4.55 g/t Au from 33.6m which relates to the Scoulers Reef. The hole ended at 115.8m.
BH3DD038
This hole drilled towards the east, passing through the Scoulers Reef at 27m depth and the Maori Anticline at 280m depth. The best intercept was 1m @ 3.34 g/t Au from 27m. A speck of visible gold was noted in thin quartz veinlets at 175.8m, however this was not reflected in the sampled grade of (0.4m @ 0.42 g/t Au from 175.8m). Drilling ended at a depth of 308.5m.
BH3DD039
Hole BH3DD039 was drilled underneath soil anomaly ‘B’ as reported in December 2021 (see RNS dated 23 December 2021, a link for which is above). Despite the presence of anomalous gold, no significant results greater than 1 g/t Au where intersected. Best result was 1m @ 0.96 g/t Au from 62.7m. This hole finished drilling at 140.8m.
BH3DD040
This hole was drilled towards the intersection of the Maori and Hard-Up Reef at depth. The Maori Reef was intersected at 242.3m with a grade of 1.96 g/t Au over a length of 0.35m. The best result from this hole was from the Scoulers Reef with 0.4m @ 3.99 g/t Au from 13.6m depth. This hole ended at 275.1m
BH3DD041
Whilst drilling continued towards the east into the Maori Antcline and Scoulers Reef, the decision was taken to drill a preliminary hole into the Byron Reef to the south of the old Byron Mine (see figure 1 above) after locating an exploration percussion hole from an earlier phase of exploration in the 1980’s. Historical documentation showed the hole BLP140 had previously yielded 3m @ 28 g/t Au from 33m. ECR’s drilling revealed the presence of a major shear zone containing sulphide and quartz mineralisation around 104m in depth. No significant gold was intercepted with the best result being 0.4m @ 0.53 g/t Au from 64.6m. This hole finished at 139.8m
BH3DD042
This hole was intended to drill deep into the Maori Anticline underneath the previous drilling of BH3DD017 and BH3DD012. The anticline was successfully identified at 273m where mineralisation was sampled returning 1m @ 4.96 g/t Au. The Scoulers Reef was also intersected in the upper portion of this hole with an intercept of 0.2m @ 9.22 g/t Au from 41.1m drill depth. This hole ended at 356.6m.
BH3DD043
Hole BH3DD043 was the last drill hole completed at HR3 this year. The hole was intentionally drilled to intercept the Maori Anticline approximately 25m to the immediate north of nearby drillholes BH3DD034, BH3DD035 and BH3DD019. The best mineralisation drilled was identified in a footwall vein to the Maori Anticline, with best intercepts beginning at a depth of 54m including 1m @ 4.82 g/t Au followed immediately by adjacent high-grade intercepts of 1m @ 5.54 g/t Au, 1m @ 9.79 g/t Au and 1m @ 15.91 g/t Au. This high-grade zone represents a length-weighted composite grade of 4m @ 9.01 g/t Au. This is the best length multiplied by grade intercept drilled to date in HR3. Drilling ended at a final depth of 194.5m.
SUMMARY OF EXPLORATION
Drilling at HR3 throughout the 2021-2022 period has been largely successful. Notable outcomes include:
- Identifying the Maori Anticline as a major host to gold mineralisation at the HR3 Goldfield.
- Initial high-grade intercepts located underneath the Maori Reef,Hard-Up Reef intersections.
- Locating and testing gold mineralisation at depth and strike within the Maori Anticline. An approximate strike length of 300m has now been initially drilled. Mineralisation is open along strike to the north and south.
- Exploration work during this period has also successfully identified a close spatial relationship of high arsenic (Arsenopyrite) and high antimony (Stibnite) ratios as pathfinders to gold mineralisation.
Table 1. Summary of the top ten drill intercepts containing reportable levels of gold for holes BH3DD036-BH3DD043. Arranged by hole name and depth.
| HOLE | From (m) | To (m) | Interval (m) | Au (g/t) | gram metres* |
| BH3DD037 | 33.6 | 34.1 | 0.5 | 4.55 | 2.27 |
| BH3DD037 | 40.6 | 41 | 0.4 | 3.61 | 1.45 |
| BH3DD038 | 27 | 28 | 1 | 3.34 | 3.34 |
| BH3DD040 | 13.6 | 14 | 0.4 | 3.99 | 1.60 |
| BH3DD042 | 41.1 | 41.3 | 0.2 | 9.22 | 1.84 |
| BH3DD042 | 273 | 274 | 1 | 4.96 | 4.96 |
| BH3DD043 | 54 | 55 | 1 | 4.82 | 4.82 |
| BH3DD043 | 55 | 56 | 1 | 5.54 | 5.54 |
| BH3DD043 | 56 | 57 | 1 | 9.79 | 9.79 |
| BH3DD043 | 57 | 58 | 1 | 15.91 | 15.91 |
*Gram metres represents the contained Au metal within the reported length, calculated as interval (m) multiplied by grade (g/t Au)
Table 2. Drill intercepts for all reportable levels of gold above 0.1 g/t Au for holes BH3DD036-BH3DD043.
*Gram metres represents the contained Au metal within the reported length, calculated as interval (m) multiplied by grade (g/t Au)
| BH3DD036 | ||||
| From (m) | To (m) | Grade (g/t Au) | Interval (m) | Gram x Metres* |
| 55 | 55.8 | 0.28 | 0.8 | 0.22 |
| 57 | 57.3 | 0.23 | 0.3 | 0.07 |
| 65.1 | 65.4 | 0.28 | 0.3 | 0.09 |
| 118.8 | 119.2 | 0.15 | 0.4 | 0.06 |
| 176 | 176.3 | 0.28 | 0.3 | 0.08 |
| BH3DD037 | ||||
| From (m) | To (m) | Grade (g/t Au) | Interval (m) | Gram x Metres |
| 4.7 | 5.7 | 1.81 | 1 | 1.81 |
| 5.7 | 6.7 | 1.69 | 1 | 1.69 |
| 9.5 | 9.7 | 0.12 | 0.2 | 0.02 |
| 11.5 | 11.8 | 1.25 | 0.3 | 0.38 |
| 12.25 | 12.7 | 0.61 | 0.45 | 0.27 |
| 16 | 16.6 | 0.26 | 0.6 | 0.15 |
| 16.6 | 17 | 0.51 | 0.4 | 0.20 |
| 17 | 17.5 | 0.68 | 0.5 | 0.34 |
| 28 | 29 | 1.26 | 1 | 1.26 |
| 29.75 | 30.25 | 2.63 | 0.5 | 1.31 |
| 30.8 | 31.8 | 0.17 | 1 | 0.17 |
| 31.8 | 32.3 | 1.97 | 0.5 | 0.98 |
| 32.3 | 33 | 2.50 | 0.7 | 1.75 |
| 33 | 33.35 | 0.79 | 0.35 | 0.28 |
| 33.6 | 34.1 | 4.55 | 0.5 | 2.27 |
| 35.1 | 35.5 | 0.27 | 0.4 | 0.11 |
| 35.5 | 36.5 | 2.92 | 1 | 2.92 |
| 36.5 | 37.5 | 1.38 | 1 | 1.38 |
| 37.5 | 38 | 2.82 | 0.5 | 1.41 |
| 38 | 38.5 | 0.42 | 0.5 | 0.21 |
| 38.5 | 39.5 | 0.58 | 1 | 0.58 |
| 39.5 | 40.2 | 0.37 | 0.7 | 0.26 |
| 40.2 | 40.6 | 1.31 | 0.4 | 0.53 |
| 40.6 | 41 | 3.61 | 0.4 | 1.45 |
| 41 | 42 | 1.03 | 1 | 1.03 |
| 42 | 43 | 0.23 | 1 | 0.23 |
| 71.8 | 72 | 0.15 | 0.2 | 0.03 |
| 72 | 72.6 | 0.17 | 0.6 | 0.10 |
| 72.6 | 72.8 | 0.50 | 0.2 | 0.10 |
| 72.8 | 74 | 0.53 | 1.2 | 0.63 |
| 74 | 75 | 0.22 | 1 | 0.22 |
| 75 | 76 | 0.57 | 1 | 0.57 |
| 76 | 77 | 0.69 | 1 | 0.69 |
| 94.5 | 95.5 | 0.32 | 1 | 0.32 |
| 95.5 | 96.5 | 0.46 | 1 | 0.46 |
| 97.5 | 98.2 | 0.13 | 0.7 | 0.09 |
| 105.55 | 106 | 0.24 | 0.45 | 0.11 |
| 109 | 110 | 0.21 | 1 | 0.21 |
| BH3DD038 | ||||
| From (m) | To (m) | Grade (g/t Au) | Interval (m) | Gram x Metres |
| 3.45 | 4.45 | 1.22 | 1 | 1.22 |
| 4.45 | 5 | 0.90 | 0.55 | 0.49 |
| 5 | 5.4 | 1.91 | 0.4 | 0.77 |
| 5.4 | 6 | 1.06 | 0.6 | 0.63 |
| 18 | 19 | 0.19 | 1 | 0.19 |
| 19 | 20 | 0.81 | 1 | 0.81 |
| 25 | 26 | 0.36 | 1 | 0.36 |
| 26 | 27 | 1.28 | 1 | 1.28 |
| 27 | 28 | 3.34 | 1 | 3.34 |
| 28 | 29 | 0.44 | 1 | 0.44 |
| 30 | 31 | 0.28 | 1 | 0.28 |
| 33.7 | 33.9 | 0.22 | 0.2 | 0.04 |
| 35.5 | 36.3 | 0.35 | 0.8 | 0.28 |
| 56.5 | 57.5 | 0.44 | 1 | 0.44 |
| 57.5 | 58 | 0.76 | 0.5 | 0.38 |
| 58 | 58.3 | 1.62 | 0.3 | 0.49 |
| 58.3 | 58.6 | 1.54 | 0.3 | 0.46 |
| 58.6 | 59 | 1.53 | 0.4 | 0.61 |
| 59 | 59.4 | 1.92 | 0.4 | 0.77 |
| 59.4 | 60.4 | 0.17 | 1 | 0.17 |
| 60.4 | 61.2 | 0.17 | 0.8 | 0.13 |
| 61.2 | 61.4 | 1.23 | 0.2 | 0.25 |
| 61.4 | 62.2 | 0.37 | 0.8 | 0.30 |
| 62.2 | 63 | 0.19 | 0.8 | 0.15 |
| 63 | 63.4 | 0.60 | 0.4 | 0.24 |
| 66.3 | 66.8 | 0.26 | 0.5 | 0.13 |
| 66.8 | 67.4 | 0.82 | 0.6 | 0.49 |
| 67.4 | 68.2 | 0.81 | 0.8 | 0.65 |
| 170.6 | 170.9 | 0.18 | 0.3 | 0.06 |
| 170.9 | 171.9 | 0.18 | 1 | 0.18 |
| 173.5 | 174.4 | 0.59 | 0.9 | 0.53 |
| 175.4 | 175.8 | 0.21 | 0.4 | 0.09 |
| 175.8 | 176 | 0.42 | 0.2 | 0.08 |
| 176 | 176.6 | 0.35 | 0.6 | 0.21 |
| 176.6 | 177.6 | 0.27 | 1 | 0.27 |
| 177.6 | 178 | 0.22 | 0.4 | 0.09 |
| 178 | 178.7 | 0.64 | 0.7 | 0.45 |
| 178.7 | 179.3 | 0.31 | 0.6 | 0.19 |
| 199 | 199.4 | 0.16 | 0.4 | 0.06 |
| 201.4 | 202 | 0.16 | 0.6 | 0.09 |
| 237.35 | 237.55 | 0.25 | 0.2 | 0.05 |
| 237.55 | 238 | 0.16 | 0.45 | 0.07 |
| 296.3 | 296.5 | 0.90 | 0.2 | 0.18 |
| 296.5 | 296.7 | 0.20 | 0.2 | 0.04 |
| 296.7 | 297 | 0.57 | 0.3 | 0.17 |
| 297 | 298 | 0.20 | 1 | 0.20 |
| 298 | 298.5 | 0.38 | 0.5 | 0.19 |
| 298.5 | 299 | 0.70 | 0.5 | 0.35 |
| 299 | 299.35 | 0.55 | 0.35 | 0.19 |
| 299.5 | 299.65 | 1.13 | 0.15 | 0.17 |
| 300.2 | 300.6 | 0.19 | 0.4 | 0.08 |
| BH3DD039 | ||||
| From (m) | To (m) | Grade (g/t Au) | Interval (m) | Gram x Metres |
| 61.7 | 62.7 | 0.47 | 1 | 0.47 |
| 62.7 | 63.7 | 0.96 | 1 | 0.96 |
| 63.7 | 64.7 | 0.19 | 1 | 0.19 |
| 65.5 | 66 | 0.14 | 0.5 | 0.07 |
| 67 | 68 | 0.17 | 1 | 0.17 |
| 72.4 | 72.7 | 0.21 | 0.3 | 0.06 |
| 72.7 | 73 | 0.25 | 0.3 | 0.07 |
| 74.35 | 74.55 | 0.13 | 0.2 | 0.03 |
| 75.5 | 75.8 | 0.31 | 0.3 | 0.09 |
| 90.2 | 90.6 | 0.17 | 0.4 | 0.07 |
| 96 | 97 | 0.18 | 1 | 0.18 |
| 97.4 | 98.1 | 0.21 | 0.7 | 0.15 |
| 98.5 | 98.9 | 0.42 | 0.4 | 0.17 |
| 98.9 | 99.9 | 0.40 | 1 | 0.40 |
| 106.5 | 107 | 0.16 | 0.5 | 0.08 |
| 107 | 108 | 0.34 | 1 | 0.34 |
| BH3DD040 | ||||
| From (m) | To (m) | Grade (g/t Au) | Interval (m) | Gram x Metres |
| 13.6 | 14 | 3.99 | 0.4 | 1.60 |
| 15 | 15.35 | 0.24 | 0.35 | 0.09 |
| 15.8 | 16.8 | 0.41 | 1 | 0.41 |
| 16.8 | 17.05 | 0.68 | 0.25 | 0.17 |
| 17.05 | 17.4 | 1.65 | 0.35 | 0.58 |
| 17.4 | 18 | 2.61 | 0.6 | 1.56 |
| 22.3 | 22.7 | 0.89 | 0.4 | 0.36 |
| 22.7 | 23 | 1.66 | 0.3 | 0.50 |
| 24.4 | 25.4 | 1.82 | 1 | 1.82 |
| 25.4 | 26.1 | 0.20 | 0.7 | 0.14 |
| 31.6 | 32.1 | 1.12 | 0.5 | 0.56 |
| 44 | 44.6 | 0.64 | 0.6 | 0.38 |
| 46.7 | 47.5 | 0.22 | 0.8 | 0.17 |
| 48.55 | 49 | 0.77 | 0.45 | 0.34 |
| 52.65 | 53.2 | 0.90 | 0.55 | 0.49 |
| 144.6 | 145.1 | 0.77 | 0.5 | 0.39 |
| 145.1 | 146.3 | 0.29 | 1.2 | 0.35 |
| 178 | 178.3 | 0.20 | 0.3 | 0.06 |
| 189 | 189.6 | 0.17 | 0.6 | 0.10 |
| 189.6 | 190.5 | 1.22 | 0.9 | 1.09 |
| 190.5 | 191.2 | 0.24 | 0.7 | 0.16 |
| 191.2 | 191.6 | 1.17 | 0.4 | 0.47 |
| 191.6 | 192 | 0.35 | 0.4 | 0.14 |
| 192 | 193 | 0.17 | 1 | 0.17 |
| 193.7 | 194.7 | 0.39 | 1 | 0.39 |
| 194.7 | 195.7 | 0.54 | 1 | 0.54 |
| 195.7 | 196.7 | 0.13 | 1 | 0.13 |
| 204.5 | 205 | 0.44 | 0.5 | 0.22 |
| 205 | 206 | 0.17 | 1 | 0.17 |
| 206 | 207 | 0.26 | 1 | 0.26 |
| 210 | 211 | 0.44 | 1 | 0.44 |
| 211 | 211.45 | 0.41 | 0.45 | 0.18 |
| 212.45 | 213.4 | 0.78 | 0.95 | 0.74 |
| 214 | 214.35 | 0.43 | 0.35 | 0.15 |
| 214.35 | 214.6 | 0.95 | 0.25 | 0.24 |
| 214.6 | 215.2 | 0.80 | 0.6 | 0.48 |
| 215.2 | 215.7 | 0.19 | 0.5 | 0.09 |
| 219.4 | 219.75 | 0.29 | 0.35 | 0.10 |
| 225.5 | 225.75 | 0.34 | 0.25 | 0.09 |
| 238.7 | 239.2 | 0.16 | 0.5 | 0.08 |
| 240.2 | 241.2 | 0.78 | 1 | 0.78 |
| 241.65 | 242.3 | 1.11 | 0.65 | 0.72 |
| 242.3 | 242.65 | 1.96 | 0.35 | 0.69 |
| 242.65 | 243.1 | 0.21 | 0.45 | 0.10 |
| 258.6 | 259.3 | 0.17 | 0.7 | 0.12 |
| 259.3 | 259.65 | 1.13 | 0.35 | 0.40 |
| 259.65 | 260 | 0.67 | 0.35 | 0.23 |
| 260 | 260.5 | 0.23 | 0.5 | 0.12 |
| BH3DD041 | ||||
| From (m) | To (m) | Grade (g/t Au) | Interval (m) | Gram x Metres |
| 41.7 | 42.25 | 0.27 | 0.55 | 0.15 |
| 42.25 | 42.7 | 0.42 | 0.45 | 0.19 |
| 49.2 | 49.6 | 0.15 | 0.4 | 0.06 |
| 64.6 | 65 | 0.53 | 0.4 | 0.21 |
| 91.7 | 92.7 | 0.22 | 1 | 0.22 |
| 104 | 104.25 | 0.12 | 0.25 | 0.03 |
| 104.25 | 104.6 | 0.18 | 0.35 | 0.06 |
| BH3DD042 | ||||
| From (m) | To (m) | Grade (g/t Au) | Interval (m) | Gram x Metres |
| 37.55 | 38.4 | 0.16 | 0.85 | 0.13 |
| 40.8 | 41.1 | 1.79 | 0.3 | 0.54 |
| 41.1 | 41.3 | 9.22 | 0.2 | 1.84 |
| 41.3 | 42 | 1.30 | 0.7 | 0.91 |
| 44 | 45 | 0.17 | 1 | 0.17 |
| 56.8 | 57 | 0.20 | 0.2 | 0.04 |
| 61.6 | 61.85 | 0.23 | 0.25 | 0.06 |
| 73.2 | 73.5 | 0.24 | 0.3 | 0.07 |
| 74.7 | 75.05 | 0.25 | 0.35 | 0.09 |
| 75.05 | 75.4 | 0.21 | 0.35 | 0.07 |
| 81.45 | 82 | 0.17 | 0.55 | 0.09 |
| 103.3 | 103.6 | 0.19 | 0.3 | 0.06 |
| 103.6 | 103.95 | 0.65 | 0.35 | 0.23 |
| 103.95 | 104.5 | 0.33 | 0.55 | 0.18 |
| 104.5 | 105.2 | 0.38 | 0.7 | 0.27 |
| 105.2 | 106.2 | 0.24 | 1 | 0.24 |
| 106.2 | 106.8 | 0.82 | 0.6 | 0.49 |
| 106.8 | 107.2 | 0.62 | 0.4 | 0.25 |
| 107.2 | 107.6 | 1.08 | 0.4 | 0.43 |
| 107.6 | 108.7 | 0.33 | 1.1 | 0.36 |
| 108.7 | 108.9 | 0.41 | 0.2 | 0.08 |
| 109.1 | 109.7 | 0.26 | 0.6 | 0.16 |
| 109.7 | 110.7 | 0.53 | 1 | 0.53 |
| 110.7 | 111 | 0.38 | 0.3 | 0.12 |
| 111 | 111.6 | 1.13 | 0.6 | 0.68 |
| 111.6 | 112.6 | 1.45 | 1 | 1.45 |
| 112.6 | 113.6 | 1.36 | 1 | 1.36 |
| 113.6 | 114.4 | 0.66 | 0.8 | 0.52 |
| 114.4 | 114.7 | 1.09 | 0.3 | 0.33 |
| 115 | 115.7 | 0.98 | 0.7 | 0.69 |
| 115.7 | 116.2 | 0.30 | 0.5 | 0.15 |
| 118.2 | 118.7 | 0.32 | 0.5 | 0.16 |
| 118.7 | 119 | 0.94 | 0.3 | 0.28 |
| 119 | 119.25 | 1.07 | 0.25 | 0.27 |
| 119.25 | 119.7 | 1.48 | 0.45 | 0.67 |
| 119.7 | 120.1 | 0.99 | 0.4 | 0.39 |
| 120.1 | 120.4 | 0.72 | 0.3 | 0.22 |
| 149.25 | 150.2 | 0.16 | 0.95 | 0.15 |
| 152.1 | 152.4 | 0.17 | 0.3 | 0.05 |
| 153.7 | 154.3 | 0.16 | 0.6 | 0.09 |
| 169.9 | 170.2 | 0.26 | 0.3 | 0.08 |
| 198.9 | 199.5 | 0.18 | 0.6 | 0.11 |
| 205.05 | 206.2 | 0.30 | 1.15 | 0.35 |
| 247.8 | 248.6 | 0.22 | 0.8 | 0.17 |
| 248.6 | 249.4 | 0.31 | 0.8 | 0.25 |
| 252 | 252.7 | 0.48 | 0.7 | 0.34 |
| 252.7 | 253 | 0.30 | 0.3 | 0.09 |
| 267.9 | 268.7 | 0.22 | 0.8 | 0.17 |
| 269.9 | 270.9 | 0.82 | 1 | 0.82 |
| 270.9 | 271.9 | 0.38 | 1 | 0.38 |
| 271.9 | 272.4 | 0.43 | 0.5 | 0.22 |
| 273 | 274 | 4.96 | 1 | 4.96 |
| 274 | 275 | 0.22 | 1 | 0.22 |
| 309.8 | 310.3 | 0.35 | 0.5 | 0.18 |
| 311 | 311.6 | 0.19 | 0.6 | 0.11 |
| 311.9 | 312.5 | 0.25 | 0.6 | 0.15 |
| 314.05 | 314.3 | 0.29 | 0.25 | 0.07 |
| 349.8 | 350.25 | 0.16 | 0.45 | 0.07 |
| BH3DD043 | ||||
| From (m) | To (m) | Grade (g/t Au) | Interval (m) | Gram x Metres |
| 35.9 | 37 | 1.54 | 1.1 | 1.69 |
| 38 | 38.2 | 0.79 | 0.2 | 0.16 |
| 44 | 45 | 0.56 | 1 | 0.56 |
| 45 | 46 | 1.54 | 1 | 1.54 |
| 46 | 47 | 1.19 | 1 | 1.19 |
| 53 | 54 | 0.42 | 1 | 0.42 |
| 54 | 55 | 4.82 | 1 | 4.82 |
| 55 | 56 | 5.54 | 1 | 5.54 |
| 56 | 57 | 9.79 | 1 | 9.79 |
| 57 | 58 | 15.91 | 1 | 15.91 |
| 58 | 59 | 1.87 | 1 | 1.87 |
| 59 | 59.3 | 1.45 | 0.3 | 0.43 |
| 59.3 | 59.7 | 0.39 | 0.4 | 0.16 |
| 59.7 | 60.2 | 0.22 | 0.5 | 0.11 |
| 60.9 | 61.6 | 2.52 | 0.7 | 1.77 |
| 61.6 | 62 | 0.29 | 0.4 | 0.12 |
| 63 | 64 | 0.20 | 1 | 0.20 |
| 64 | 65 | 0.34 | 1 | 0.34 |
| 65 | 66 | 0.20 | 1 | 0.20 |
| 68 | 69 | 0.17 | 1 | 0.17 |
| 69 | 69.8 | 0.52 | 0.8 | 0.42 |
| 69.8 | 70.9 | 0.22 | 1.1 | 0.24 |
| 72 | 73 | 0.24 | 1 | 0.24 |
| 98 | 98.5 | 0.31 | 0.5 | 0.16 |
| 109.4 | 110.4 | 0.17 | 1 | 0.17 |
| 110.4 | 111.2 | 0.22 | 0.8 | 0.17 |
| 111.2 | 112 | 0.25 | 0.8 | 0.20 |
| 123.2 | 124 | 0.24 | 0.8 | 0.20 |
| 124 | 125 | 0.31 | 1 | 0.31 |
| 150.4 | 150.8 | 0.69 | 0.4 | 0.27 |
| 158.8 | 159.1 | 0.98 | 0.3 | 0.29 |
| 159.1 | 160.1 | 0.72 | 1 | 0.72 |
| 160.1 | 161 | 0.36 | 0.9 | 0.32 |
| 161 | 162 | 0.43 | 1 | 0.43 |
| 189.4 | 190 | 1.17 | 0.6 | 0.70 |
Table 3. Gram-metre intersections for BH3DD036-BH3DD043 (for intersections containing => 1g/t Au)
*Gram metres represents the contained Au metal within the reported length, calculated as interval (m) multiplied by grade (g/t Au)
| BH3DD037 | ||||
| From (m) | To (m) | Grade (g/t Au) | Interval (m) | Gram x Metres |
| 4.7 | 5.7 | 1.81 | 1 | 1.81 |
| 5.7 | 6.7 | 1.69 | 1 | 1.69 |
| 28 | 29 | 1.26 | 1 | 1.26 |
| 29.75 | 30.25 | 2.63 | 0.5 | 1.31 |
| 32.3 | 33 | 2.50 | 0.7 | 1.75 |
| 33.6 | 34.1 | 4.55 | 0.5 | 2.27 |
| 35.5 | 36.5 | 2.92 | 1 | 2.92 |
| 36.5 | 37.5 | 1.38 | 1 | 1.38 |
| 37.5 | 38 | 2.82 | 0.5 | 1.41 |
| 40.6 | 41 | 3.61 | 0.4 | 1.45 |
| 41 | 42 | 1.03 | 1 | 1.03 |
| BH3DD038 | ||||
| From (m) | To (m) | Grade (g/t Au) | Interval (m) | Gram x Metres |
| 3.45 | 4.45 | 1.22 | 1 | 1.22 |
| 26 | 27 | 1.28 | 1 | 1.28 |
| 27 | 28 | 3.34 | 1 | 3.34 |
| BH3DD040 | ||||
| From (m) | To (m) | Grade (g/t Au) | Interval (m) | Gram x Metres |
| 13.6 | 14 | 3.99 | 0.4 | 1.60 |
| 17.4 | 18 | 2.61 | 0.6 | 1.56 |
| 24.4 | 25.4 | 1.82 | 1 | 1.82 |
| 189.6 | 190.5 | 1.22 | 0.9 | 1.09 |
| BH3DD042 | ||||
| From (m) | To (m) | Grade (g/t Au) | Interval (m) | Gram x Metres |
| 41.1 | 41.3 | 9.22 | 0.2 | 1.84 |
| 111.6 | 112.6 | 1.45 | 1 | 1.45 |
| 112.6 | 113.6 | 1.36 | 1 | 1.36 |
| 273 | 274 | 4.96 | 1 | 4.96 |
| BH3DD043 | ||||
| From (m) | To (m) | Grade (g/t Au) | Interval (m) | Gram x Metres |
| 35.9 | 37 | 1.54 | 1.1 | 1.69 |
| 45 | 46 | 1.54 | 1 | 1.54 |
| 46 | 47 | 1.19 | 1 | 1.19 |
| 54 | 55 | 4.82 | 1 | 4.82 |
| 55 | 56 | 5.54 | 1 | 5.54 |
| 56 | 57 | 9.79 | 1 | 9.79 |
| 57 | 58 | 15.91 | 1 | 15.91 |
| 58 | 59 | 1.87 | 1 | 1.87 |
| 60.9 | 61.6 | 2.52 | 0.7 | 1.77 |
SUMMARY
Whilst varied, the Directors are pleased with the outcome of the final results from HR3. These results show that mineralisation is still open to the north of hole BH3DD043 and at depth. Technical director Adam Jones will evaluate the potential of follow up drilling for these results over the coming Australian summer period.
In the meantime, drilling continues at the nearby Blue Moon prospect with two holes now completed and samples submitted to the laboratory for analysis. Drilling is planned to continue into the Christmas holiday period.
Soil sampling and rock chip sampling have been completed on adjacent parallel quartz reefs on the Creswick tenements (EL6184) with results expected by the end of this month. The outcome of this work will delineate further drill targets for the 2023 drilling season.
REVIEW OF ANNOUNCEMENT BY QUALIFIED PERSON
This announcement has been reviewed by Adam Jones, Technical Director of Exploration at ECR Minerals plc. Adam Jones is a professional geologist and is a Member of the Australian Institute of Geoscientists (MAIG). He is a qualified person as that term is defined by the AIM Note for Mining, Oil and Gas Companies.
MARKET ABUSE REGULATIONS (EU) No. 596/2014
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (MAR). Upon the publication of this announcement via Regulatory Information Service (RIS), this inside information is now considered to be in the public domain.
FOR FURTHER INFORMATION, PLEASE CONTACT:
| ECR Minerals plc | Tel: +44 (0) 20 7929 1010 | |||
| David Tang, Non-Executive Chairman
Andrew Haythorpe, CEO |
||||
| Email: | ||||
| Website: www.ecrminerals.com | ||||
| WH Ireland Ltd | Tel: +44 (0) 207 220 1666 | |||
| Nominated Adviser
Katy Mitchell / Andrew de Andrade |
||||
| SI Capital Ltd | Tel: +44 (0) 1483 413500 | |||
| Broker | ||||
| Nick Emerson | ||||
| Novum Securities Limited | Tel: +44 (0) 20 7399 9425 | |||
| Broker
Jon Belliss |
||||
| BlytheRay | Tel: +44 (0) 207 138 3204 | |||
| Public Relations | ||||
| Tim Blythe
|
||||
ABOUT ECR MINERALS PLC
ECR Minerals is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd (“MGA”) has 100% ownership of the Bailieston and Creswick gold projects in central Victoria, Australia, has six licence applications outstanding which includes one licence application lodged in eastern Victoria. (Tambo gold project). MGA is currently drilling at the Bailieston Blue Moon Project (EL5433) and undertaking geochemical exploration on the Creswick (EL6148) project and has an experienced exploration team with significant local knowledge in the Victoria Goldfields and wider region.
https://mercatorgold.com.au/
ECR also owns 100% of an Australian subsidiary LUX Exploration Pty Ltd (“LUX”) which has three approved exploration permits covering 946 km2 over a relatively unexplored area in Queensland, Australia.
https://luxexploration.com/
Following the sale of the Avoca, Moormbool and Timor gold projects in Victoria, Australia to Fosterville South Exploration Ltd (TSX-V: FSX) and the subsequent spin-out of the Avoca and Timor projects to Leviathan Gold Ltd (TSX-V: LVX), Mercator Gold Australia Pty Limited has the right to receive up to A$2 million in payments subject to future resource estimation or production from projects sold to Fosterville South Exploration Limited.
ECR holds a 70% interest in the Danglay gold project; an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines, which has a 43-101 compliant resource. ECR also holds a royalty on the SLM gold project in La Rioja Province, Argentina and can potentially receive up to US$2.7 million in aggregate across all licences.
ECR Minerals #ECR – Drilling Continues to Extend Gold Mineralisation within the Maori Reef
ECR Minerals plc (LON: ECR), the gold exploration and development company focussed on gold exploration in Australia, is pleased to provide results from hole BH3DD019, drilled into the north end of the Maori Reef 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: “I am delighted to report that our team of geologists headed by Adam Jones are reporting some very encouraging gold grades at hole BH3DD019. Furthermore, the epizonal mineralisation identified through the drilling work and assay results correlates with nearby deposits at Costerfield, Nagambie and Whroo mine and this is assisting with our understanding of the regional gold trend as we work towards identifying a possible ore resource.”
“As outlined below, following COVID-19 delays the assay results are now starting to flow back to us, and I look forward to announcing further results in the coming weeks.”
SUMMARY:
- Assays from one drill hole (BH3DD019) now received. This is the deepest hole drilled under the north end of the Maori Reef and it has identified four mineralised zones. Best intercepts include 0.5m @ 9.5 g/t Au from 99.9m, 0.8m @ 4.96 g/t Au from 100.4m, 0.3m @ 4.59 g/t Au from 143.4m and 0.6m @ 6.15 g/t Au from 231.5m.
- Geological logging of visible stibnite in holes drilled into the Maori Reef also correlates well with expectations of reportable gold.
- Stibnite, arsenopyrite and gold mineralisation collectively identifies with an ‘epizonal’ style of mineralisation which is typical of the nearby deposits such as Costerfield, Nagambie and Whroo.
BH3DD019
Hole BH3DD019, drilled into the Maori Reef at the northern limits of the historical gold workings was part of a series of 4 holes (including BH3DD012, BH3DD014, BH3DD020 and BH3DD021), designed to crosscut the HR3 goldfield to aid interpretation and identify the main faults and folding that is associated with gold mineralisation. Staffing issues at the laboratory due to COVID-19 outbreaks have resulted in slower than expected drilling reports and data over the new year period, but we are pleased to report that ECR is now starting to receive assay results from these overdue drillholes. To date BH3DD019 have been received, 3 holes are awaited.
A visual reference to the following geological notes regarding BH3DD019 is provided in figure 1:
https://www.ecrminerals.com/images/2022/Fig1.jpg
BH3DD019 was drilled due east at a dip of -58° from surface. Drilling ended at a depth of 279.5m. Geological logging of bedding has revealed a broad inclined hinge zone located around 120 metres down hole. The hinge correlates well to the inferred anticline zone which hosts the Maori Reef, and our hinge projections back up to the surface will become targeted in follow-up drilling. Two zones featuring an arsenic and antimony high within laminated quartz in faulted ground returned some of the best results including 0.5m @ 9.5 g/t Au from 99.9m followed by 0.8m @ 4.96 g.t Au from 100.4m depth. A similar zone was intersected on the east side of the hinge point where assays returned 0.3m @ 4.59 g/t Au from 143.4m. This last interval also included a visible solid stibnite vein with a drilled thickness of approximately 10cm wide.
A parasitic flexure causing two smaller hinges within the steeply east dipping bedding at 220m hosts perpendicular massive quartz veins ‘PMQ’ with interconnecting quartz stockworks. The PMQ veins form a fan pattern around the first hinge zone. Unfortunately, this hinge only carries low reportable levels of gold. Between the two parasitic hinges, a bedding laminated vein ‘BLQ’ carrying visible stibnite returned 0.6m @ 6.15 g/t Au from 231.5m downhole. The up-dip projection of this vein is not revealed at the surface and will be followed up with future drilling.
EPIZONAL MINERALISATION
Mineralisation formed at temperatures below 300°C often with associated arsenic and antimony sulphides visibly presented in drill core as arsenopyrite and stibnite is defined as ‘Epizonal’. MGA geologists are frequently recording such sulphides below the oxide level within the Maori Reef, a phenomenon that has also prompted the team to investigate how nearby gold deposits are mineralised. This investigation has shown that narrow stibnite veins with arsenopyrite have also been identified by adjacent tenement holders at the Costerfield Mine, the historic Nagambie Mine open pits and more recently at the historic Whroo Mine by ‘Mawson Gold’.
FUTURE PLANS
Geological interpretation of BH3DD019 is now providing an insight into the bigger picture of mineralisation within the HR3 Goldfield. With the assay results now flowing in more regularly, we are anticipating more targets to follow up. Although the drilling work undertaken to date is still very much in its infancy, the Directors note that no drilling campaign of this complexity and detail has ever been undertaken in this area previously. The Company’s objective is to identify the trends of gold mineralisation or ‘shoots’ and once completed, ECR expect to be able to complete an accurate assessment in regard to a possible ore resource.
ECR also recently reported that drilling into the Maori Anticline at the intersection of the Hard-Up Reef was continuing. These holes have been recently completed and assay results are awaited. Again, once completed the Directors anticipate these results will help towards identifying the gold trend.
The Company has also drilled two holes (BH3DD026 and BH3DD027) to investigate the ground underneath soil ‘anomaly A’ that was reported from soil sampling results in December 2021. Assays are also pending for these drillholes. The soil sampling also revealed three other anomalies associated with the central reef known as ‘Scoulers’ that are still to be followed up with drilling once the initial Maori Reef drilling is completed.
Table 1. Summary of drill intercepts containing reportable levels of gold greater than 0.1 g/t Au for BH3DD019 (*highlights in bold). Mineralised ‘Zones’ shown in figure 1.
BH3DD019
| From | To | Grade (g/t Au) | Interval (m) | Zone |
| 5.6 | 6.4 | 0.22 | 0.8 | |
| 22.3 | 22.7 | 0.2 | 0.4 | |
| 26.3 | 27 | 0.17 | 0.7 | |
| 38.3 | 39.4 | 0.31 | 1.1 | ZONE 1 |
| 39.4 | 39.9 | 0.39 | 0.5 | ZONE 1 |
| 39.9 | 40.3 | 0.74 | 0.4 | ZONE 1 |
| 47 | 48 | 0.12 | 1 | |
| 48 | 49 | 0.49 | 1 | |
| 49 | 50 | 0.14 | 1 | |
| 51.8 | 52.3 | 0.17 | 0.5 | |
| 52.3 | 52.9 | 0.26 | 0.6 | |
| 54 | 55 | 0.14 | 1 | |
| 55 | 56 | 0.27 | 1 | |
| 56 | 56.8 | 0.28 | 0.8 | |
| 56.8 | 57.5 | 0.15 | 0.7 | |
| 57.5 | 58 | 0.11 | 0.5 | |
| 58 | 58.7 | 0.2 | 0.7 | |
| 58.7 | 59.2 | 0.16 | 0.5 | |
| 60 | 61 | 0.11 | 1 | |
| 61 | 61.5 | 0.23 | 0.5 | |
| 61.5 | 62 | 0.23 | 0.5 | |
| 76.3 | 76.6 | 0.11 | 0.3 | |
| 90.5 | 90.9 | 0.12 | 0.4 | |
| 92.7 | 93.4 | 0.12 | 0.7 | |
| 93.4 | 94.3 | 0.2 | 0.9 | |
| 95.3 | 96.2 | 0.14 | 0.9 | |
| 96.2 | 96.7 | 0.25 | 0.5 | |
| 96.7 | 97.5 | 0.22 | 0.8 | |
| 97.5 | 98.4 | 0.76 | 0.9 | ZONE 2 |
| 98.4 | 98.7 | 2.46 | 0.3 | ZONE 2 |
| 98.7 | 99.2 | 3.16 | 0.5 | ZONE 2 |
| 99.2 | 99.9 | 1.66 | 0.7 | ZONE 2 |
| 99.9 | 100.4 | 9.5 | 0.5 | ZONE 2 |
| 100.4 | 101.2 | 4.96 | 0.8 | ZONE 2 |
| 101.2 | 101.7 | 0.64 | 0.5 | ZONE 2 |
| 101.7 | 102.7 | 0.43 | 1 | ZONE 2 |
| 102.7 | 103.4 | 0.13 | 0.7 | |
| 103.4 | 104.4 | 0.18 | 1 | |
| 105.4 | 106.4 | 0.11 | 1 | |
| 107.4 | 108.4 | 0.12 | 1 | |
| 116.2 | 116.7 | 0.32 | 0.5 | |
| 124.1 | 124.9 | 0.11 | 0.8 | |
| 131.6 | 132.3 | 0.2 | 0.7 | |
| 132.7 | 133.4 | 0.19 | 0.7 | |
| 137.1 | 137.8 | 0.11 | 0.7 | |
| 142.7 | 143.4 | 0.22 | 0.7 | ZONE 3 |
| 143.4 | 143.7 | 4.59 | 0.3 | STIBNITE VEIN |
| 143.7 | 144.5 | 0.2 | 0.8 | |
| 164.1 | 164.4 | 0.19 | 0.3 | |
| 165 | 165.6 | 0.13 | 0.6 | |
| 165.6 | 166.2 | 0.76 | 0.6 | |
| 166.2 | 167 | 0.14 | 0.8 | |
| 173.4 | 174 | 0.46 | 0.6 | |
| 197.6 | 198.4 | 0.13 | 0.8 | |
| 215.8 | 216.4 | 0.15 | 0.6 | |
| 222.1 | 223 | 0.18 | 0.9 | Hinge Stockwork |
| 223 | 224 | 0.11 | 1 | Hinge Stockwork |
| 224 | 225 | 0.14 | 1 | Hinge Stockwork |
| 225 | 226 | 0.29 | 1 | Hinge Stockwork |
| 226 | 227 | 0.38 | 1 | Hinge Stockwork |
| 227 | 228 | 0.35 | 1 | Hinge Stockwork |
| 228 | 229 | 0.21 | 1 | Hinge Stockwork |
| 231.5 | 232.1 | 6.15 | 0.6 | ZONE 4 |
| 232.1 | 232.5 | 0.2 | 0.4 | ZONE 4 |
| 232.5 | 232.9 | 0.94 | 0.4 | ZONE 4 |
| 232.9 | 233.4 | 0.12 | 0.5 | |
| 234 | 234.6 | 0.13 | 0.6 | |
| 234.6 | 235.5 | 0.15 | 0.9 | |
| 241 | 241.7 | 0.11 | 0.7 |
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 – Bailieston (HR3) Soil Sampling Strengthens Mineralisation Model
ECR Minerals plc (LON: ECR), the gold exploration and development company focussed on gold exploration in Australia, is pleased to announce that further to the HR3 drilling update announced on December 22nd, soil sample results from HR3 have identified further gold anomalies, giving further confidence in our previous geological interpretations for dilational jog zones within the HR3 goldfield 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: “I said yesterday that our understanding of the Maori Anticline and HR3 had grown exponentially: this understanding has taken a further step forward today with soil sampling results that not only show a growing and extending area of anomalies, but that also support the dilational jog model outlined by our head geologist Adam Jones at holes BH3DD009, BH3DD010 and BH3DD011.”
“Along with our geologists, the board are genuinely excited at the scale and development potential of HR3. I look forward to reporting further assay results to you as they become available.”
SUMMARY:
- Gold assays from further soil sampling reveal four gold anomalies along strike of the Scoulers-Dan Genders Reef lines, with two of the anomalies within an area of limited to no historic gold workings.
- One anomaly in association with the convergent of two Reef lines fits in with the dilational jog mineralisation model recently identified in BH3DD009, BH3DD010 and BH3DD011.
Soil analysis results for an additional 160 soil samples taken across the central portion of the HR3 goldfield have been received, resulting in the identification of four gold anomalies. Samples are spatially related to the strike extents of the NW striking Scoulers and Dan Genders Reefs and the NNE striking Hard Up Reef.
Six of the 160 samples returned gold values above 0.1 g/t Au. The majority of these samples are affiliated with moderate arsenic levels (As) and high antimony levels (Sb)
The locations referred to in the following paragraphs can be found at the following link (figure 1):
https://www.ecrminerals.com/images/2021/XXXXX
Table 1. Best results for 160 soil assays (above 0.1 g/t Au) in descending order. Also showing related levels of arsenic (As) and antimony (Sb).
| Sample Number | Au (g/t) | As (ppm) | Sb (ppm) |
| SC_092 | 0.79 | 158.5 | 789 |
| SC_118 | 0.2 | 93.3 | 445 |
| SC_142 | 0.145 | 67.5 | 306 |
| SC_108 | 0.125 | 84.4 | 144 |
| SC_098 | 0.122 | 104.5 | 41 |
| SC_072 | 0.118 | 119 | 60 |
INTERPRETATION OF SOIL RESULTS
Anomaly A
Gold results have highlighted an anomaly associated with the south projection of the Hard Up Reef and its convergence with the Dan Genders Reef. Recent drilling of BH3DD009, BH3DD010 and BH3DD011 identified high grade gold formed within a dilational jog zone where the Hard Up Reef converges with the Maori Reef. Anomaly A has potential to be related to a similar mineralisation style. Drilling is planned to confirm this.
Anomaly B
This anomaly is situated central to the Scoulers and Dan Genders Reef lines. Ground truthing evidence shows this anomaly to be located within an area of very few historic gold workings. The company will follow up this anomaly with rock chip samples of quartz float on the sub-surface. Outcome of these results will decide on the best plan to test this location by drilling.
Anomaly C
Earlier this year (June 2020), the first soil results were released and revealed a spot anomaly of 3.75 g/t Au. This earlier best result is located at the north-east end of the trail of Anomaly C (refer to figure 1). With the additional results now received, the source of this trail can be traced back to the Scoulers Reef. There are the remains of a backfilled shallow historic shaft at the source area that by judgement of the size of the remnant mullock dump, appears to be less than 4 metres deep. There is potential to drill underneath the historic shaft.
Anomaly D
Anomaly D is located at the north end of the Scoulers Reef line. The Reef dips into deeper soils to the north as it approaches a local watercourse. As with Anomaly C, there are limited shallow historic workings at this location. Some of the highest results have been obtained in ground that has no influence from the historic workings, thereby indicating the possibility of shallow sub-cropping mineralisation. ECR has current drill permits to test this location, and it is our intention to drill Anomaly D as part of the current drilling campaign.
FORWARD LOOKING STATEMENTS
Planning soil sampling in areas of previous mining will always present challenges in regard to the interpretation of results. To minimise contamination of samples from disturbance at surface by previous mining, ECR geologists take care in offsetting samples to minimise these errors. Although prospecting has taken place in the area for over 100 years by miners during the gold rush era, the technology and methodology at our disposal today can deliver worthwhile anomalous results that in some cases can revive and create value from a previously dormant goldfield.
There is a palpable sense of excitement among our team of geologists as interpretation of the extensive exploration work achieved this year is now slowly revealing the area mineralisation and considerable potential for development.
The supporting Australian team is now on a brief holiday period, returning to full working capacity on the 4th and 5th of January 2022. We will still be receiving assay results from recent drilling surrounding BH3DD009, 010 and 011 over the holiday period. On our return to work, the team will prioritise to drill through Anomaly A to reveal if mineralisation is similar to BH3DD009, 010 and 011. Pending results for current drilling, the rig will then finish off testing the upper end of the Maori Reef Anticline before proceeding to test Anomalies B, C and D.
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) 20 7220 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.