ECR MINERALS
plc
("ECR Minerals", "ECR" or the
"Company")
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
|
|
|
|
|
|
|
|
Email:
info@ecrminerals.com
|
|
|
|
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.