ECR MINERALS PLC: Drilling Update -- Victoria Goldfields, Australia
12 February 2021 - 11:09PM
UK Regulatory
TIDMECR
ECR MINERALS plc
("ECR Minerals", "ECR" or the "Company")
DRILLING UPDATE -- VICTORIA GOLDFIELDS, AUSTRALIA
ECR Minerals plc (LON: ECR), the gold exploration and
development company focussed on Australia
is pleased to announce a drilling update from the HR3 area
("HR3") of the Company's 100% owned Bailieston Project in the
Victoria Goldfields, Australia.
Craig Brown, Chief Executive Officer of ECR Minerals plc,
commented: "I am pleased to announce the completion of our first
diamond drill hole utilising the Company's in-house drilling
equipment, which is a notable event for the Company.
The hole was completed efficiently and safely and we are now
pushing on with further drilling with the commencement of the
second hole. We intend to continue drilling across various target
areas within ECR license areas in the coming weeks and months.
The presence of a 5.3 metre wide reef (drilled thickness) with
visible gold in the first drill hole core is a positive development
and we look forward to receipt of assay results from the laboratory
as soon as possible."
HIGHLIGHTS:
This first diamond drill hole at HR3 was undertaken utilising
the Company's recently acquired drill rig and has reach a total
depth of 300 metres. The drill rig has now commenced a second hole
in the same location. The hole intersected the Byron Main Reef at
110 m and the information from this hole will allow us to establish
the structural architecture and controls for the obvious gold
mineralisation in this reef (and adjacent reefs) and in the wider
HR3 prospect. The Byron Main Reef is 5.3 m wide (drilled thickness,
true thickness unknown) and is milky, vuggy quartz with laminated
margins. 1.3 m of core was lost drilling through the reef.
The current exploration drill programme was originally announced
on 12 January 2021 and this announcement may be viewed through the
following link:
https://polaris.brighterir.com/public/ecr_minerals_plc/news/rns/story/wvp81vw
The drill core from the first hole was transferred to the
Company's processing shed in Bendigo, Australia where the core was
cut and analysed following which samples have been delivered to the
laboratory today for assay analysis. The samples will be processed
by the Gekko's Assay Laboratory facilities in Ballarat, Australia
and the assay results are expected in the coming weeks.
https://www.gekkos.com/en/solutions/lab-testwork/assay-lab
Preliminary core inspection has identified visible gold in the
core and the Company has been utilising a portable x-ray
fluorescence ("pXRF") as part of the preliminary examination
process. The pXRF has confirmed the gold content of a small speck
seen in the core at 111.0 m.
https://www.ecrminerals.com/images/2021/BH3DD001_Byron_Main_Reef.pdf
Review of Announcement by Qualified Person
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 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 Bailieston and Creswick gold projects in
central Victoria, Australia. ECR is currently drilling high
priority targets on the Bailieston gold project using the Company's
own diamond drill rig. ECR has an experienced exploration team with
significant local knowledge in the Victoria Goldfields.
Following the sale of the Avoca, Moormbool and Timor gold
projects in Victoria, Australia to Fosterville South Exploration
Ltd (TSX-V: FSX), ECR has the right to receive up to A$2 million in
payments subject to future resource estimation or production at
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.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20210212005235/en/
CONTACT:
ECR Minerals plc
SOURCE: ECR Minerals plc
Copyright Business Wire 2021
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