ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce the latest soil sampling results from the Creswick Project, Victoria, Australia.
ECR Minerals plc has 100% ownership of the Creswick Project which includes exploration tenements EL006907, EL006713 and EL006184. All licences reside north to north-east of the City of Ballarat, Victoria, Australia. The Company is exploring a number of parallel-gold mineralisation trends that are believed to extend 10km NE from the Nerrina Goldfields at Ballarat.
ECR CEO Andrew Haythorpe commented: “As the MIDAS drill rig team continues the campaign across our Creswick tenements, the soil sampling results in today continue to build a picture of mineralisation in the area – improving resolution of potential new drill targets for the future. The Board and geo teams are pleased to see that the regional historical precedents from the Ballarat East Mine and the spatial relationship between arsenic and gold are very much in evidence with ECR’s own results at Creswick.”
I look forward to reporting back with the remainder of the sampling results, along with the first results from the diamond drilling campaign.”
- Gold Results from initial 297 soil samples from Mills Reef Prospect received. Highest result includes 0.68 ppm Au.
- A comparison study between Gold results and Arsenic analysis by pXRF shows a close spatial relationship at Creswick.
- Arsenic analysis by pXRF has been completed for the Mills Reef, Bush Inn Road, Blue Gum prospects (on the proposed Dimocks Main Shale (DMS) mineralised trend).
- Additional pXRF analysis coupled with rock chip results on new prospects on the western side of EL006713 highlight further potential sources of Gold.
Map analysis images related to this announcement can be viewed here:
Figure 1: Overview map of prospects referred to in this announcement:
Figure 2: Gold and Arsenic soil geochemistry results for Mills Reef area:
Figure 3: Plan showing spatial comparison between Gold and Arsenic analysis:
Figure 4: Plan showing Arsenic geochemistry and rock chipping at Kuboid Hill and Green Lode prospects:
Figure 5: Plan showing Arsenic geochemistry at the Central and South Blue Gum prospects:
Figure 6: Plan showing Arsenic geochemistry at the Central and South Blue Gum prospects:
INITIAL SOILS RESULTS FOR MILLS REEF AREA
On March 3 2023, ECR announced the commencement of soil sampling campaigns over the Mills Reef area (see RNS here). Located approximately 6km south of ECR’s wholly owned Brewery Lane property, Mills Reef lies along the proposed line of the DMS and associated gold lodes contained therein. Results for the first 297 soil samples have been received from a total of 685 samples taken across the postulated strike of three gold lodes. The samples revealed a best reading of 685 ppb Au, along with a raft of additional elevated gold values between 25 and 75 ppb (see Figure Two above). All samples are additionally analysed for potential pathfinder elements such as arsenic using an in-house portable x-ray fluorescent gun (pXRF).
RELATIONSHIP OF GOLD TO ARSENIC VALUES IN SOIL
Across the countless previous exploration campaigns undertaken across the Victoria Gold Fields, it is generally accepted that arsenic values are closely related spatially to gold-bearing structures. Previous studies of the nearby Ballarat East Mine showed that arsenic increases in values within approximately 50 metres of the surrounding wall rock to gold bearing structures, (refer to Geoscience World article for context here). Gold and arsenic results from ECR’s soil geochemistry to date is supportive of this theory and the Board believes that arsenic values in soils above 10 ppm are to be considered anomalous and worthy of follow-up analysis at the laboratory for any coincidental gold content. Taking into account the spatial relationship between gold and arsenic on two prospects at Creswick, Mills Reef (Figure Two above) and Davey Road (Figure Three above), the Board are of the view that the close relationship of gold to arsenic can be used to identify which samples should be sent to the laboratory for gold analysis, thereby reducing operating costs.
NEW PROSPECTS EL006713
Work also continued at other regional prospects within the EL006713 tenement, with soil sampling now complete for Bush Inn Road, Kuboid Hill and Blue Gum prospects. pXRF analytical results showing arsenic (As) highlights from these prospects are shown in the figures listed above. Initial As results from the Blue Gum prospect, located approximately 2km south of Brewery Lane, Springmount, highlight potential blind gold shoots along strike of the DMS (see Figure Five above). Results from Bush Inn Road also have highlighted arsenic anomalies that will need further checking for actual gold values, with a major arsenic high identified at the north-east end of the current soil grid (see Figure Six above). Bush Inn Road is located 1.5km to the south of Mills Reef and is also along strike of the DMS.
In addition to the work at the prospects already outlined, initial soil testing and rock chipping of prospects situated on the western side of EL006713 are being investigated. Soil sampling and surface rock chipping has been completed at a prospect known as Kuboid Hill. Rock chips and arsenic soil geochemistry has highlighted elevated gold in the circled area in (see Figure 4b above) with best chips up to 6.23 g/t Au. Another prospect known as Greens Lode is located nearby Kuboid Hill. Greens Lode contains historical works including a shaft and small open cut that has revealed a major quartz lode up to 4 metres wide. Rock chips from dumps and from in-situ veining has shown gold values up to 6.53 g/t Au. The best gold values have been obtained from a quartz system that lies some 10 metres east of the main strike of historical workings (see Figure 4a above). Soil sampling along strike has been completed and analysis of these soils is in progress.
Infill soil sampling work is continuing along the strike areas containing the better soil sample results. Soils that show elevated arsenic have been set aside for further laboratory analysis for gold, and soil sample results (gold) are due shortly for the remaining Mills Reef area and Kuboid Hill prospect. ECR has also completed initial soil sampling on the north end of EL006184 at Quartz Hill where the quartz veins continue to the north.
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:
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Andrew Haythorpe, CEO
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Katy Mitchell / Andrew de Andrade
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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 six licence applications outstanding which includes one licence application lodged in eastern Victoria. (Tambo gold project). MGA is currently drilling at the Bailieston Blue Moon Project (EL5433) and undertaking geochemical exploration on the Creswick (EL6148) project and has an experienced exploration team with significant local knowledge in the Victoria Goldfields and wider region.
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 Queensland, Australia.
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.