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ECR Minerals plc (ECR) Update on Creswick Gold Project, Victoria, Australia

ECR Minerals plc (LON: ECR), the precious metals exploration and development company, is pleased to announce the results of further analysis of samples from reverse circulation (RC) drilling completed earlier this year at the Creswick gold project in Victoria, Australia.

The Creswick project is 100% held by ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd (“MGA”).

HIGHLIGHTS

  • Final results have been received from 129 ‘full bag’ tests and assay of 74 duplicate sub-samples collected when drilling. The highest grade duplicate result of 80.97 g/t gold came from a 1 metre interval that originally assayed 44.63 g/t (announced on 8 May 2019). The ‘full bag’ test of the remainder of the material gave a result close to the average of the two sub-samples at 63.03 g/t (announced 27 August 2019).
  • Grade variability due to the nugget effect has been demonstrated, but some consistency between results has been seen, and indicates the effect may be less severe than initially thought.
  • The data generated has been provided to Dr Simon Dominy, a noted expert on nuggety gold systems, for geostatistical analysis to quantify the nugget effect and evaluate the representativeness of the larger samples. The findings of this work will guide ECR’s next steps at Creswick.
  • On the basis of work undertaken to date ECR considers Creswick a highly important strategic project as part of MGA’s Victoria goldfields portfolio of five projects.

Craig Brown, Chief Executive Officer of ECR Minerals plc, commented:

“These results confirm the presence of nuggety gold mineralisation in the Dimocks Main Shale (DMS) at Creswick, some of which is very high grade.

MGA’s tenement position at Creswick covers approximately 7 kilometres of the DMS trend, and our drilling earlier this year only tested approximately 300 metres of this.

We therefore believe there is significant potential upside in the project, and we are now considering how best to build on the results obtained from Creswick to date to create value for ECR shareholders.

Creswick is one of five projects owned by ECR within the Victoria goldfields and forms part of what is rapidly becoming a highly significant and strategic portfolio in the region.”

FURTHER INFORMATION

The initial results of RC drilling at Creswick by MGA were announced on 8 May 2019, and there was evidence that the results were subject to a nugget effect.

In order to assess the significance of this effect, MGA’s consultants devised a testing program using gravity and electrostatic concentration (GEC) on full bags of RC drill cuttings, which would constitute the whole sample recovered from each metre of drilling (less sub-samples obtained at the time of drilling via a splitter mounted on the drill rig).

In nuggety gold systems, increasing sample size increases the chance of nuggets being captured in the sample, and thus being appreciated as part of the gold endowment of the system.

Typically, only a small sub-sample of the drill cuttings generated by each metre of RC drilling is analysed (assayed) for gold. In the case of MGA’s 2019 RC drilling at Creswick, two sub-samples of approximately 2 kilograms were obtained from the rig-mounted splitter, out of up to approximately 30 kilograms of cuttings per metre. The first sub-sample was sent for assay by the Leachwell method at Gekko Systems, an independent laboratory in Victoria, and the results were announced on 8 May 2019.

Using the GEC method on the full bags, MGA was able to subject larger, more representative sample sizes to analysis. More details regarding the GEC testing process are given in ECR’s announcement dated 27 August 2019, which can be viewed at the following link:

https://polaris.brighterir.com/public/ecr_minerals_plc/news/rns/story/xq2j1qx

In parallel, 74 duplicate sub-samples obtained at the time of drilling via the rig-mounted splitter have been analysed by the Leachwell method at Gekko Systems. This has been done to enable comparison with the assay results (obtained by the same method) for the first set of sub-samples, which will assist in classifying the nugget effect as extreme, major or minor.

RESULTS OF ANALYSIS

A total of 129 ‘full-bag’ samples were analysed using the GEC process.

  • In the case of 102 samples, no gold had been detected in the first sub-sample analysed by the Leachwell method. In 6 of these samples, the GEC process detected gold (up to 0.55 g/t).
  • In the case of 9 samples, the GEC process returned a higher gold grade than analysis of the first sub-sample.
  • In the case of a further 9 samples, the GEC process returned a lower gold grade than analysis of the first sub-sample.
  • In the case of a further 9 samples in which gold had been detected in analysis of the first sub-sample (up to 0.11 g/t), no gold was detected by the GEC process.

Table 1: Assay results for all intervals with at least one result >0.1 g/t gold

Hole

From (m)

To (m)

First

sub-sample (g/t gold)

Second

sub-sample

(g/t gold)

GEC test

(g/t gold)

CSR006

15

16

44.63

80.97

63.03

CSR012

52

53

2.49

2.35

2.28

CSR006

14

15

0.12

0.11

0.11

CSR006

22

23

0.39

0.68

1.38

CSR010

85

86

0.27

0.78

1.32

CSR011

8

9

0.27

0.18

0.59

CSR010

84

85

x

x

0.02

CSR001

16

17

0.29

2.97

0.51

CSR011

6

7

0.63

0.32

0.02

CSR006

17

18

0.15

0.42

0.18

CSR007

39

40

0.22

0.52

0.01

CSR012

53

54

0.28

0.07

0.24

CSR006

18

19

0.06

x

0.30

CSR006

20

21

x

0.10

0.12

CSR001

18

19

0.11

x

0.01

CSR001

19

20

0.07

x

x

CSR001

11

12

0.06

x

x

CSR004

36

37

0.00

ANC

0.55

CSR007

52

53

0.00

ANC

0.34

CSR001

15

16

0.25

ANC

0.01

CSR010

81

82

0.00

ANC

0.23

CSR011

19

20

0.14

ANC

0.18

CSR006

16

17

0.11

ANC

0.17

CSR006

47

48

0.00

ANC

0.13

CSR007

38

39

0.11

ANC

0.00

CSR004

22

23

0.11

ANC

0.09

x = below detection
ANC = analysis not conducted

COMPETENT PERSON STATEMENT

The information in this announcement that relates to exploration results is based on information compiled 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 has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Dr Boucher consents to the inclusion in the announcement of the material based on his information in the form and context in which it appears.

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.

As investors await ECR’s Creswick assay results, Windidda survey confirms potential for Gold.

Anticipation builds on Creswick Assay results 

ECR’s investors are eagerly awaiting the remaining assay results to be revealed from the whole-of-bag testing process at the Company’s Creswick Gold project. 

If the partial assay results released on the 27th August 2019 are anything to go by, then investors definitely have something to be hopeful about. The 17 samples tested demonstrate a substantial increase in average gold grades. 

The remaining 113 samples, which are expected to be released in the near future will provide an important insight into Creswick’s potential million ounce resource. So be sure to keep your eyes peeled for any announcements over the coming weeks. 

Windidda Gold Project – Farm-In offer and Positive GeoPhysics survey 

It’s not just Creswick grabbing attention though. ECR revealed at the end of September that they had been approached by a listed mineral exploration company to farm into their Windidda Gold Project in Western Australia. 

Whilst ECR have decided not to proceed with the farm-in, another company looking to come on board is certainly an encouraging indication of the project potential. 

ECR may also be expecting some better offers to come to the table. Given how sought after licenses are in the Yilgarn Craton, not to mention difficult to come by, such a development wouldn’t necessarily come as a surprise given that the area is home to around 30% of the world’s known gold reserves. 

The decision to retain 100% ownership is also an indication of ECR’s own strong belief in its value and confidence in its ability to go it alone. 

“We were fortunate to get the licences at the Yilgarn Craton, given the area’s excellent reputation” CEO Craig Brown told Mining Maven 

“The permissions we have applied for currently are covered by a layer of other rocks, but, most importantly, underneath have significant exposure to that same critical greenstone belt that our peers are utilising successfully. The idea is that we want to drill down through the upper layers into the greenstone, where the large majority of the gold deposits in the Yilgarn Craton are contained. There has been some geophysics completed in the past that boast very positive indications for our work,” he added. 

On the back of this, ECR commisioned Western GeoPhysics to process and interpret existing airborne magnetic and ground gravity data. The survey results announced mid October 2019 noted that the depths to magnetic sources were shallowest on a highly magnetic trend striking NNW-SSE in the western half of the Windidda project area. Added to this, previous gold intersections drilled by North Ltd (NL) in 1998-2000 coincide with the highly magnetic units in the NL Bermuda project area, which lies outside the Windidda project area to the south. 

This magnetic and mineralised ‘Bermuda’ trend projects into Windidda exploration licence application E38-3369, and the modelling results indicate shallow feasible drill targets there. 

“The results of the study by Western Geophysics are most encouraging and demonstrate real potential for the discovery of gold mineralisation”, said Brown. 

“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.” 

Gold price rally could continue into the long-term 

The push by ECR throughout the year to develop and expand its gold exploration activities could not have been timed better. 2019 has been a fantastic year for the precious metal. The gold spot price has rallied by over 25% during the past year, currently hovering around $1,505 per ounce and predicted to continue delivering long-term growth. 

Several geopolitical and economic issues across the world have contributed to this incline and are likely to shape prices further. 

From a volatile oil market, escalating concerns regarding the US-China trade war, ongoing Brexit uncertainty, talk of a global recession, negative bond yields and falling interest rates – all these are resulting in investors turning towards gold. 

Speaking on Palisade Radio, Resource Maven’s Gwen Preston, discusses how global currencies are in a race to the bottom as countries compete for trade, and central banks continue to cut interest rates. She points to the uncertainty facing investors today, and how, as a result they are seeking a safe haven’ which is likely to be gold. 

According to Gwen, “Gold can perform and is performing already against the strong US Dollar. When gold performs against a strong US dollar, it is the mark of a real gold bull market. So I think that is something to grant a lot of confidence to gold moves so far.’ 

Bloomberg’s October commodity update also expect gold’s rally to long continue, predicting that it will beat other commodities and reach record highs. 

“Gold will remain at the top of the precious metals leaderboard, and its performance [will] accelerate into year-end. A definitive reversal in weakening global economic conditions should be needed to reverse this trend, yet further woes in 4Q appear the greater risk,” writes Bloomberg Intelligence senior commodity strategist Mike McGlone. 

Looking beyond this, Frank Holmes CEO at US Global Investors predicts that extremely dovish monetary policies around the world and economic conditions could propel gold prices much higher, possibly even reaching $10,000 oz over the long-term. 

ECR a potential steal 

Such long-term predictions will certainly please the ECR board. Should the remaining assays from their Creswick site prove positive, the company might well undergo a substantial upward re-rating. 

Unlike many of its peers though, ECR mitigates risk across a broad and diverse spread of projects. Hopes and aspirations are high for the Windidda Gold Project, as well as their three additional sites in Victoria, all of which are under active exploration. 

ECR CEO Craig Brown certainly believes the company is well undervalued. “If ECR was listed on the ASX our market cap would be 3-4 times higher” said Brown after a recent ShareTalk evening. Sat at just 0.77p I’d have to agree with him. Either way, ECR’s story is one to keep an eye on. 

Harry Dacres-Dixon

References:

ECR Minerals: ‘Nuggety Nature’ of its Site in Australia gives Hope to this Hard-Working Gold Seeker

By Malcolm Stacey | Share Prophets | Friday 26 July 2019
Hello, Share Primers. Say what you like about gold explorers, there are a few that try really hard and deserve success. It’s a risky business, prospecting, but the rewards, if they come at all, can be dazzling. And it’s a reasonable strategy to have at least some fun money in this field, given the rosy prospect that some commentators expect on this scintillating website for a rising gold price.
I’ve previously brought  to your attention ECR Minerals. (ECR). I praised, among other factors, its diligence in bringing news to shareholders. I does it almost weekly and I do not find its releases to be too over-optimistic. Not like some miners I could mention.
To recap: ECR has exploration and development underway at 3 projects in Victoria, Australia. They are Bailieston, Crewick and Timor. Crewick is currently getting most of the attention as ECR claims it has ‘potential to host  a multi-million ounce gold deposit’.
We are told – and I believe this company to be honest – ‘There is plenty of long standing geological and anecdotal evidence supporting this view.’  In the winter, ECR did a lot of drilling at Crewick. Results exceeded expectations with quartz found in  third of the drilled land. (Quartz is a jolly sign, apparently).
But it was what the company quaintly describes as the ‘nuggety’ nature of gold mineralisation on the site that we’re expected to be encouraged by. If there are nuggets then it leads to the likliehodd of understated essays in the company’s samples.
The Aim-listed prospector has so many samples to test, it has rented a large aircraft hangar in Nagambie for the storage, preparation and drying of samples. They’ve also shipped in posh lab equipment to get the assays done.
And if all this is not successful, then the outfit does have the other Australian gold projects to fall back on.
Remember, gang, that oil prices are depressed at the moment. But as many analysts fear for the global economy, that might not stay pertinent for long.
And now let’s do some sampling of our own in the Punter’s Return.

ECR Minerals Victoria Goldfields projects set to take flight 

  • Creswick a strategic priority
  • Golden Nuggets
  • Foot on the pedal at Timor Gold Project
  • Time to jump on board

AIM Listed Australia-focussed mining company ECR Minerals (AIM: ECR) now has active exploration and development works underway at three projects within the Victorian goldfields region, including Bailieston, Creswick and Timor. 

Developments in June and July have ensured that investors remain firmly focussed on progress thanks to a raft of exciting announcements from both Creswick and Timor projects.

Creswick a strategic priority, with potential to host multi-million ounce gold deposit

ECR Minerals Creswick gold project is evolving quickly, with ECR looking to rapidly advance the project to a JORC compliant resource.  

ECR’s CEO Craig Brown said the company will be “allocating resources to this project in a prioritised manner” with internal modelling suggesting that Dimocks Main Shale..”is large enough to potentially host a multi-million ounce gold deposit”

There is plenty of long standing geological and anecdotal evidence supporting this view. The Dimocks Main Shale (DMS), a 15km-long geological feature containing a vast amount of alluvial and deep lead gold, has been historically responsible for contributing a large proportion of gold production in the Victoria region. And it just so happens that approximately 7km of ECR’s Creswick licences and applications incorporate the DMS feature. 

Back in February ECR completed 1,687 metres of reverse circulation drilling, which targeted multiple quartz vein orientations. Results in May reportedly exceeded expectations, with quartz identified in over a third of the ground drilled.

Golden Nuggets

However, it was the ‘nuggetty’ nature of gold mineralisation at the site which grabbed the Company’s attention. It is now thought that the ‘nuggety’ gold mineralisation could have dramatically increased the likelihood of understated assays in ECR’s samples to date, with the chance of capturing a gold nugget in any drilled meter smaller as the nuggets size increases. 

To help provide a clearer picture, ECR announced on the 11th June that they would be significantly ramping up their assessment, particularly given the strong possibility that coarse gold was missed from previously assayed 2kg samples from a 30kg bag.

In line with advice from tendering laboratories, ECR have devised a structured approach to systematically test 640 sample bags (each close to 30 kg). 

Bags found to contain metal will be removed from site for “whole-of-bag” testing. ECR stated that the process will now incorporate multiple steps, including sieving, detecting, gold particle analysis, gravity concentration and assaying to determine the size distribution and grade of the coarse and fine gold within the sample. 

The Company has every reason to be hopeful. On May 8th, a sample bag trial demonstrated gold of 11.8 g/t from whole-of-bag gravity concentration, some 528% greater than the 1.88 g/t gold returned from assay of the initial 2kg sub-sample.

“Creswick is a unique project and the assessment of in-situ gold mineralisation requires bespoke project management and technical application”, said Craig Brown.

“I am delighted that our first metal detecting of bags has already highlighted metal content, which we expect is reflective of nugget gold mineralisation as samples from depth are unlikely to contain other detectable metals.”

CEO site visit

As Creswick continued to make rapid progress, Craig Brown visited the site in June.

He commented; “Subject to the ongoing results of our work, and assuming positive exploration outcomes, we are seeking to rapidly advance Creswick toward a JORC compliant resource.”

JORC is a professional code of practice that sets minimum standards for Public Reporting of minerals Exploration Results.

In the same announcement on June 21st, ECR revealed that in a bid to get the project into full flight, the Company have rented a large aircraft hangar and house in Nagambie for the sample storage, supervised preparation and drying of bulk samples. They’ve also shipped in technical lab equipment to help get the assays done. 

Meanwhile, gold panning in the vicinity of the recent drill hole locations had produced visible fine gold as seen opposite. While it may not look that impressive, panning evidence such as this is an important indication of gold in the area. 

Resource Geologist Appointment

Just three days after Craig Brown arrived on site, ECR announced the appointment of Keith Whitehouse, of Australian Exploration Field Services Pty Limited, as a consultant resource geologist.

With over 40 years’ experience in the provision of technical services to the resources industry, Keith Whitehouse looks to be the ideal appointment at this juncture, particularly given that he has extensive experience in resource modelling, JORC and NI 43-101 reporting, business development, data management and associated IT solutions. In addition to all this, he has extensive experience in Victoria, being a former Chair and current committee member of the Central Victoria branch of AusIMM. 

Of the appointment, Craig Brown commented: “Keith’s knowledge and experience will be applied immediately with regard to our ongoing work at Creswick, where we are seeking to quantify gold mineralisation in a manner that, if applicable, can be embodied within a JORC compliant resource.

In addition Keith’s skills will be of further value in respect of other projects in our Victorian portfolio, especially those where knowledge and experience relevant to resource modelling in a nuggetty environment are required.”

Foot on the pedal at Timor Gold Project, with modern processing set to offer great potential.

Although, at present Creswick is a priority, the Company is working hard to progress the other sites in the Victoria region. 

On June 25th, it was announced that gold exploration activities had commenced at the Timor Gold Project in Victoria, with Craig Brown stating that he was confident that modern mining processing techniques could open up significant gold production opportunities at the old Timor mines. 

“It is evident that most of the historical gold mines have not been developed fully at depth and that processing challenges stopped production in some cases, including certain remarkably high-grade gold deposits where production grades of up to 217 g/t or 7 oz/t are recorded” Brown added.

Timor Rock Chip Sampling 

Most recently, on July 15th ECR announced that 91 samples have been collected from Timor and submitted to the laboratory for assay testing. These were taken from two major fault zones, both with a long history of producing gold. The Shaw-McFarlane Fault Zone (“SMFZ”) in particular is reported to have consistently produced high grade gold mines along its length. 

Samples will include those taken from rock dumps from old gold workings, with the objective of the process to understand the type of mineralisation present. 

ECR were also delighted to announce that a 2.2kg gold nugget worth an estimated value of circa $200,000 had been discovered in an old alluvial channel approximately 5 km from the boundary of the Timor gold licence area during a gold prospecting documentary. 

The news came as a huge encouragement to the directors, supporting their ongoing belief in the untapped potential of the primary mineralisation in the area – with these the nuggets likely to have a local, primary source.

Gold production records for the area have also bolstered confidence at ECR. The Maryborough goldfield to the south of their site has produced over 640,000 ounces of gold from hard-rock and alluvial sources, with 220,000 ounces mined from hard-rock operations at an average grade of 14g/t gold. 

Time to jump on board

With active exploration and development underway at these highly prospective projects within the Victorian goldfields – Creswick, Timor and of course Bailieston, – now looks like a better time than ever to board the ECR flight. Tickets are also cheap, with the stock having seen a small dip across June.

There are many other voices across the industry with similar views. Jonathan Goodman, executive chairman of Dundee Corp insists that now is the time to be buying gold mining stocks when prices are deflated instead of waiting until everything is on its way up. In fact Goodman believes that Gold miners currently offer the ‘best value since 2010’. See his interview here with The Street.

With news expected across all three of ECR’s projects in the coming weeks and an internal review of ECR’s Avoca and Moormbool Projects to be with investors soon, this stock has its engines already turning on the runway. Don’t miss the flight. 

By Harry Dacres-Dixon

ECR Minerals (ECR) Update – Timor Gold Project – Australia

ECR Minerals plc (LON:ECR), the precious metals exploration and development company, is pleased to provide an update in respect of exploration activities at the Timor Gold Project (the “Project”) in Victoria, Australia. The Timor Gold Project is one of five projects held by ECR in the Victorian Goldfields region.

The Company has now commenced the rock chip sampling programme which will include the sampling of rock dumps from old gold workings on the licence area. The sampling will be undertaken along the two fault zones and the objective will be to establish the style of gold mineralisation present.

In total 91 samples have been collected from Timor and submitted to the laboratory for assay testing.

The Company has noted a recent gold prospecting documentary that was filmed in the Victorian Goldfields, Australia close to some of the Company’s licence areas.

During the documentary the team working near Dunolly, approximately 5 km from the boundary of the Timor gold licence area discovered a 2.2kg gold nugget in an old alluvial channel with an estimated value of circa $200,000.

Whilst this discovery has not been independently verified by the Company and there is no guarantee that any more such nuggets will be found in the area, the directors are very encouraged by the discovery which they believe validates their ongoing belief in the untapped potential of the primary mineralisation in the area; the nuggets have to have a local, primary source.

While gold nuggets are not the ECR objective in discovering a new economic primary gold deposit at Timor, they do form an added occasional bonus to the overall economics, especially when they form part of a rich high grade ore shoot.

A map showing the approximate location of the discovery in relation to the Company’s licence areas may be viewed through the following link on the Company’s website:

https://www.ecrminerals.com/images/2019/image-1.png

Craig Brown, Chief Executive Officer commented: “I am pleased to confirm that the rock dump sampling from old workings is now underway at the Timor Gold Project and look forward to the findings from this work.

We are aware of many prospectors searching for gold in and around the Company’s licence areas, and that includes the Timor gold project. This is interesting and demonstrates the potential of our ground.

However, it is worth noting that should ECR make a discovery within its licence areas, it would be seeking to implement a significant commercial gold production operation which has a different scale to that seen in local prospecting and for which extensive preparatory planning and execution would be needed.

I look forward to providing further market updates in respect of Timor and our other Victoria gold fields interests, including Creswick where significant work is underway at present testing whole of reverse circulation sample bags for gold.”

Background to the Timor Gold Project:

Timor Gold project is located in Victoria Australia and held under exploration licence EL006278;

Historical records demonstrate that the Maryborough goldfield has produced over 640,000 ounces of gold from hard-rock and alluvial sources, with 220,000 ounces mined from hard-rock operations at an average grade of 14g/t gold. (See references below).

Two major fault zones have been identified on the Project, namely the Shaw-McFarlane Fault Zone (“SMFZ”) and the Leviathan-Mariners Fault Zone (“LMFZ”), which are responsible for the majority of the hard-rock gold production.

The SMFZ has been shown to have consistently produced high grade gold mines along its length with Shaw’s Reef, McFarlane’s Reef and Havelock Monte Christo having recorded production at average grades ranging from 22g/t gold to 217 g/t gold with certain operations having been impacted by metallurgical challenges. (See references below.)

Opportunities exist within the SMFZ to identify and process gold mineralisation at potentially very high grade by applying modern processing techniques to resolve processing challenges that limited production many years ago.

The LMFZ hosts a large number of variably sized reefs that occur within the fault zone. These reefs are associated with diorite dykes and generally offer larger gold targets, albeit at lower grade compared to the SMFZ and historical mining records demonstrate that mining activities were often to relatively shallow depths.

Most of the LMFZ is under shallow alluvial cover which produced a considerable amount of gold in the early days of the Maryborough gold rush of the 1850s.

Both the SMFZ and the LMFZ have potential for modern open cut and underground mining techniques, because of the scale of the deposits present.

A program of reconnaissance rock dump sampling from the old workings is to be undertaken initially, along the two fault zones, to establish the style of gold mineralization.

Subject to the findings from the sampling programme this may be followed by a grid-based GPS pXRF survey for antimony and arsenic as pathfinders to gold mineralization where outcrop or shallow cover exists.

Thereafter a scout Rotary Air Blast (“RAB”) drilling program on the best developed targets may be undertaken.

Further information to follow as each step of the exploration programme is implemented and the results interpreted.

COMPETENT PERSON STATEMENT

This announcement has been reviewed by Neil Motton BAppSc (Hons), MAusIMM (CP), FSEG, a geological consultant to the Company’s wholly owned subsidiary Mercator Gold Australia Pty Ltd with more than 30 years of professional experience. Mr Motton 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 Limited 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.

References:

HOWITT, A.M., 1913. The Maryborough goldfield. Geological Survey of Victoria Memoir 11. Department of Mines, Victoria, 76 pp.

Whitelaw, H.S., 1899, Antimony Ores in Victoria. Geological Survey of Victoria Special Report.

ANON., Undated. Leviathan Gold Mines, Maryborough. Map showing Mining Lease areas, locations of shafts, reefs, alluvial leads composite level plans for mines, etc. Plan No 1757/B/1.

ANON, 1888, Lands held under Leases for Gold Mining, Shaw’s & Mariner’s Reef, Maryborough. Register for Mining Registrar for March, 1888.

Mining Maven: Gold Nuggets, Discoveries, and Greenstone Potential: A Breakdown of ECR Minerals’ Australia Drilling Progress

Download the report here: ECR Report – Jun 2019

Introduction

This year has seen ECR Minerals (LSE:ECR) launch an extensive exploration campaign across the highly popular Australian state of Victoria as it continues its search for multi-million-ounce gold deposits. Early signs of success have supported a substantial increase in the company’s share price from 0.75p to 1p, despite a harsh commodity market backdrop and weak investor sentiment in the UK, where it is based. Here, we break down ECR’s progress and plans at each of its Victoria prospects and outline its activity across the rest of Australia.

 

ECR Minerals (ECR) – Result of AGM

LONDON: 23 April 2019 – The board of directors of ECR Minerals plc (the “Directors”) are pleased to announce that at the Company’s annual general meeting held today all resolutions were passed.

ABOUT ECR

ECR is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Limited 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.

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

ECR Minerals (AIM:ECR) Windidda Gold Project Update – Yilgarn Region Australia

ECR Minerals plc (LON:ECR), the precious metals exploration and development company, is pleased to announce the Company has commenced processing and interpretation of airborne and ground geophysics in respect of the Company’s 100% owned Windidda gold project (the “Project”) in Western Australia.

Readers are advised to consult the Company’s previous announcement outlining the submission of licence applications by the Company to form the Windidda gold project:

https://polaris.brighterir.com/public/ecr_minerals/news/rns/story/rgkd6zw

Highlights:

  • Consultants instructed by ECR are now completing geophysical data processing and modelling to determine structural trends within, and the depth to, an interpreted buried Archaen greenstone belt at the Project;
  • As reported in January 2019 nine new licence applications which comprise the Windidda Project have been submitted covering approximately 1,600 square kilometres of the Yilgarn Craton;
  • The application areas have been identified as a potential greenstone hosted orogenic gold exploration opportunity with significant potential to contain Archaen greenstones buried beneath cover;
  • The under cover greenstone exploration model has been successfully tested to date by Greatland Gold (LON:GGP) at its Ernest Giles project located approximately 125km east of ECR’s Windidda gold project;
  • The processing and interpretation of airborne and ground geophysics is an important element in the determination of high profile drill targets, expected to be amenable to cost effective air core drilling enabling the rapid assessment of the potential for gold mineralisation.

Craig Brown, Chief Executive Officer commented: “I am pleased to announce that we have launched the next crucial stage in the development of our understanding of scale of the Windidda gold project.

The work being undertaken will greatly assist our understanding of the Project and help us to focus on the higher profile target areas for follow up drilling.

The feedback from this work will be available to the Company shortly and will enable us to advance our operational planning, including the development of key drill targets in our search for high impact gold mineralisation.”

COMPETENT PERSON STATEMENT

Information disclosed in this announcement has been reviewed by Samuel Garrett Non-executive Director of ECR Minerals and a Competent Person within the meaning of Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code) and for the purposes of the AIM Rules.

Mr Garrett holds a BSc (Hons) in Geology and an MSc in Economic Geology from the University of Tasmania. He is a member of the Australian Institute of Geoscientists and a member of the Society of Economic Geologists (USA).

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 Limited 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.

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