ECR Minerals plc (LON:ECR), the precious metals exploration and development company, is pleased to announce positive progress in the Company’s gold drilling programme being undertaken at the Black Cat prospect at the Bailieston gold project in the State of Victoria, Australia.
Readers are advised to consult the Company’s previous announcement outlining the proposed drilling programme as follows:
- At the Company’s Black Cat prospect in the Bailieston project area, 250 metres of rotary air blast drilling has been completed to date in 10 target holes within ECR ground immediately south of ground recently applied for by Newmont Exploration;
- Most holes have been completed in the northern part of Black Cat (6 holes) with 3 holes completed on the main central workings and 1 hole in the southern dyke;
- Wide zones of alteration were intersected in 7 holes and quartz veining in 2 holes and to date 77 samples have been delivered for laboratory assay testing with results awaited;
- Drilling is continuing at the Black Cat prospect within the main Black Cat workings, the southern dyke area and potentially new follow up areas;
- Further updates to the market will be provided at the earliest opportunity as assay results are received and findings analysed by our technical team.
Craig Brown, Chief Executive Officer commented: “As with Creswick and Bailieston Blue Moon, drilling at Black Cat is proceeding well and we are pleased with the work undertaken to date.
We look forward to providing further drilling progress updates and the findings following the review of assay results by our technical team.”
COMPETENT PERSON STATEMENT
This announcement has been reviewed by Neil Motton BSc (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
|WH Ireland Ltd
|Tel: +44 (0)161 832 2174
|Katy Mitchell/James Sinclair-Ford
|SI Capital Ltd
|Tel: +44 (0)1483 413500
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.