TIDMECR
15 October 2019
ECR MINERALS plc
("ECR Minerals", "ECR" or the "Company")
WINDIDDA GOLD PROJECT AUSTRALIA - POSITIVE GEOPHYSICS UPDATE
ECR Minerals plc (LON:ECR), the precious metals exploration and
development company, is pleased to provide an update with regard to
the Company's Windidda gold project located in the Yilgarn region
of Western Australia.
The Windidda gold project includes nine licence applications
covering approximately 1,600 square kilometres of the Yilgarn
region. The application areas were identified as a potential
greenstone hosted orogenic gold exploration opportunity with
significant potential to contain Archaean greenstones buried
beneath cover. The application process for the licences is ongoing
at present.
The focus of this announcement, the processing and
interpretation of airborne and ground geophysics, is an important
element in the determination of high profile drill targets,
enabling the rapid assessment of the potential for gold
mineralisation.
HIGHLIGHTS
-- Processing, analysis and interpretation of gravity and open file airborne geophysics survey data covering the Windidda gold project area in Western Australia has been completed by Western Geophysics Pty Ltd on behalf of ECR's wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd ("MGA").
-- The aim of the work was to process and interpret available airborne magnetic and ground gravity data to determine the depth of Archaean units below overlying Proterozoic Earaheedy Basin sediments.
-- The modelling results show the depths to magnetic sources are shallowest on the highly magnetic trend striking NNW-SSE in the western half of the Windidda project area.
-- Shallow, altered and mineralised gold intersections drilled by North Ltd in 1998-2000 coincide with the highly magnetic units in their Bermuda project area, which lies outside the Windidda project area to the south.
-- The magnetic and mineralised trend (Bermuda trend) projects into Windidda exploration licence application E38-3369 and the modelling results indicate shallow feasible drill targets there.
Craig Brown, Chief Executive Officer, commented:
"The results of the study by Western Geophysics are most
encouraging and demonstrate real potential for the discovery of
gold mineralisation hosted in under-cover Archaean greenstones in
the world-class gold mining environment of Western Australia.
The under-cover greenstone exploration model has been
successfully tested to date by Greatland Gold at its Ernest Giles
project located approximately 125km east of ECR's Windidda gold
project.
We look forward to moving the Windidda gold project forward and
reporting back to the market with further developments."
FURTHER INFORMATION
MGA has nine exploration licence applications located
approximately 150km north of Laverton in Western Australia, which
comprise the Windidda project. An update on the status of the
applications was provided in the Company's announcement dated 27
September 2019, which may be viewed at the following link:
https://polaris.brighterir.com/public/ecr_minerals_plc/news/rns/story/rm5zl8w
The locations of the exploration licence applications, the
regional geology and the gold and base metal (nickel) occurrences
in the Gerry Well greenstone belt to the south are shown on Figure
1, which may be viewed at the following link:
https://www.ecrminerals.com/images/2019/10/14/windidda-project-geophreport-wgpx-figure-1.jpg
The Windidda project area is underlain by Proterozoic age
sediments of the Earaheedy Basin. The basin rocks unconformably
overlie Archaean rocks of the northern margin of the Yilgarn
craton.
The geophysical modelling results show the depths to magnetic
sources are shallowest on the highly magnetic trend striking
NNW-SSE in the western half of the project area. Shallow, altered
and mineralised gold intersections from drilling by North Ltd
("North") in 1998-2000 coincide with the highly magnetic units in
their Bermuda project area (labelled "Windidda South" on Figure 1),
located outside the Windidda project area to the south. The
magnetic and mineralised trend (Bermuda trend) projects into
Windidda exploration licence application E38-3369 and the modelling
results indicate feasible drill targets there.
The modelling shows increasing depth to the north for central
and eastern zones of NNE-SSW striking, strongly magnetic units.
Magnetic units at <200 metres BGL (below ground level) are
indicated on Lines 2000 and 2001, shown on Figure 18, which may be
viewed at the following:
https://www.ecrminerals.com/images/2019/10/14/windidda-project-geophreport-wgpx-figure-18.jpg
In order to advance future exploration, additional geophysics
surveys are recommended to lower risk prior to any drilling. These
being detailed gravity and high-resolution airborne EM surveys.
Previous work completed by North, located approximately seven
kilometres to the south of the southern boundary of Windidda
exploration licence application E38-3369, determined the
Proterozoic is approximately less than or equal to 100 metres thick
with some more shallow areas of Archaean banded iron formation
(BIF) and ultramafic formations in subcrop.
A significant amount of work was done there by North (Bermuda
project) from 1998 to 2000 including, mapping, drilling, some
gravity lines and induced polarisation surveys. Unfortunately, none
of the ground geophysics data are lodged in digital format with the
West Australian Department of Mines. North concluded: "Significant
gold anomalism has been intersected within E38/589. Associated with
anomalous gold values are strong alteration zones, major
through-going structures and anomalous multi-element geochemistry.
All these factors show that E38/589 exhibits significant potential
for hosting gold mineralisation and, requires further drilling to
test anomalous zones." The mineralisation is labelled as Windidda
South on Figure 1.
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
Craig Brown, Director & CEO
Email:
info@ecrminerals.com
Website: www.ecrminerals.com
WH Ireland Ltd Tel: +44 (0)161 832 2174
Nominated Adviser
Katy Mitchell/James Sinclair-Ford
SI Capital Ltd Tel: +44 (0)1483 413500
Broker
Nick Emerson
ABOUT ECR MINERALS PLC
ECR is a mineral exploration and development company. ECR's
wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd
has 100% ownership of the Avoca, Bailieston, Creswick, Moormbool
and Timor gold exploration licences in central Victoria, Australia
and the Windidda gold project in the Yilgarn region, Western
Australia.
ECR has earned a 25% interest in the Danglay epithermal gold
project, an advanced exploration project located in a prolific gold
and copper mining district in the north of the Philippines. An
NI43-101 technical report was completed in respect of the Danglay
project in December 2015 and is available for download from ECR's
website.
ECR's wholly owned Argentine subsidiary Ochre Mining has 100%
ownership of the SLM gold project in La Rioja, Argentina.
Exploration at SLM has focused on identifying small tonnage
mesothermal gold deposits which may be suitable for relatively
near-term production.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20191015005471/en/
This information is provided by Business Wire
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