TIDMECR
ECR MINERALS plc
("ECR Minerals", "ECR" or the "Company")
Drilling Identifies Further High Gold Grades at the Upper-Maori
Anticline, Bailieston Victoria
ECR Minerals plc (LON: ECR), the gold exploration and
development company focussed on gold exploration in Australia, is
pleased to provide another update from drilling at HR3 with further
high gold grades identified at the upper part of the Maori
Anticline in hole BH3DD022.
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 Chairman David Tang commented: "Hot on the heels of our best
HR3 gold grade yet, Adam Jones and the team have reported another
high-grade gold find from the Maori Reef at hole BH3DD022. As the
backlog of assay results continue to arrive, our Maori Anticline
target model continues to evolve."
"I know our new CEO Andrew Haythorpe is monitoring developments
very closely, and we are very much looking forward to his input as
he takes the helm."
ECR CEO Andrew Haythorpe added: "I am delighted to see that the
drilling campaign initiated by my predecessor Craig Brown and
capably managed by Adam Jones is bearing fruit. We are seeing a
detailed model of the Maori Anticline and surrounding reefs
emerging, and once we have the remaining assay results in, the next
steps in developing our asset can be set in motion."
HIGHLIGHTS:
-- Drillhole BH3DD022 has returned a result of 0.5m @ 12.74 g/t Au.
-- The Maori Reef is open for potential mineralisation further to the
south-east of BH3DD022.
Links to two figures referencing hole BH3DD022 are below;
https://www.ecrminerals.com/images/2022/Fig1_BH3DD022_Section.png
https://www.ecrminerals.com/images/2022/Fig2_BH3DD022_Location_Plan.png
BH3DD022
Hole BH3DD022 was drilled into the upper part of the Maori
Anticline at the point where our geologists had hypothesised the
intersection of the Maori Reef and Hard-Up Reef. The Maori Reef was
successfully intercepted at the shallow drilled depth of 49.5m,
which included 0.5m @ 12.74 g/t Au. This intercept is supported by
lower grades either side, making a total foot-wall to hanging-wall
intersection of 3.5m @2.93 g/t Au. Although the intercepts are
regarded as narrow, there is continuity of grades between
previously reported holes BH3DD009, 010 and 011 (see RNS dated
26/11/2021 here and 22/12/2021 here). The Maori Reef system remains
open and untested to the south east of BH3DD022 (see fig2).
Table 1. Summary of drill intercepts containing reportable
levels of gold greater than 0.1 g/t Au for BH3DD022 (*highlights in
bold).
BH3DD022
From To Grade (g/t Au) Interval (m) Comment
21.5 22.5 0.48 1.00
31.1 31.8 0.21 0.70
36.15 36.35 0.99 0.20
36.35 37.35 0.14 1.00
40.9 41.1 0.13 0.20
44.5 45.5 0.40 1.00
47.5 47.8 0.48 0.30 Foot-wall Zone
47.8 48.5 0.15 0.70 Foot-wall Zone
48.5 49.5 0.49 1.00 Foot-wall Zone
49.5 50 12.74 0.50 Maori Reef
50 51 0.80 1.00 Hanging-wall Zone
51.6 52 0.90 0.40
52.8 53.4 0.42 0.60
53.4 53.7 0.18 0.30
53.7 54.15 0.46 0.45
54.15 55.15 0.28 1.00
55.15 56.15 0.13 1.00
60 60.5 0.28 0.50
67.3 67.7 0.25 0.40
67.7 68.5 0.37 0.80
71 71.5 0.11 0.50
72 72.4 0.16 0.40
72.4 72.7 0.11 0.30
72.7 73.5 0.33 0.80
78.8 79.15 0.19 0.35
79.15 80.1 0.51 0.95
81 81.65 0.11 0.65
88.75 89.75 0.11 1.00
90.8 91.9 0.14 1.10
91.9 92.3 0.65 0.40
CURRENT DRILLING PROGRESS
Drilling has now been completed into selected zones of both the
upper and north end of the known Maori Reef. Geological logging is
helping us to model the Maori Anticline and understand how the main
Reef systems consist of narrow stibnite-sulphide veining
propagating up through the fold. Recently drilled hole BH3DD034
suggests gold mineralisation is still open along strike to the
north, while high grade gold mineralisation and highest grade Gold
intercept yet confirmed at hole BH3DD027 (under Hard-Up Reef),
along with the result from hole BH3DD022 toward the southern end of
the Maori Reef today provide evidence of mineralisation to the
south. Further assay results will assist in follow-up drilling as
needed.
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
Andrew Haythorpe, CEO
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
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 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 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.
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 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.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20220503006357/en/
CONTACT:
ECR Minerals plc
SOURCE: ECR Minerals plc
Copyright Business Wire 2022
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