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ECR Minerals #ECR – Two Mineralisation Corridors Identified in Hole BH3DD032 at Bailieston, Victoria

ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce the final gold results from the 2022 drill program at the HR3 prospect at Bailieston.

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 CEO Andrew Haythorpe commented: Some very encouraging grades have emerged from these results, and in particular the average of 9.01g/t over 4m at hole BH3DD043 could very likely result in follow up work, which is supported by our Technical Director Adam Jones. We will now evaluate this full dataset, decide on the next steps and report back in due course.”

“Drilling at Blue Moon is progressing and I look forward to reporting the lab results back to you as soon as they arrive.”   

HIGHLIGHTS

  • Best results in BH3DD043 with a composited grade of 9.01 g/t Au over a drilled width of 4 metres.
  • Further results from the Maori Anticline include 1m @ 4.96 g/t Au (BH3DD042) at a depth of 273m
  • Multiple intersections along strike of the Scoulers Reef including 0.2m @ 9.22 g/t Au (BH3DD042), 0.5m @ 4.55 g/t Au (BH3DD037) and 1m @ 3.34 g/t Au (BH3DD038)

A plan of the HR3 Goldfield and the location of this reported drilling with the 10 ten intercepts can be found here:

Fig 1: https://www.ecrminerals.com/images/2022/fig1_221015_Final_Drilling_Results_2022_HR3.png

BACKGROUND TO DRILL PROGRAM

ECR Minerals have been drilling targets throughout 2022 on their Bailieston tenements located in Victoria, Australia. Our drilling activity has been predominantly within the HR3 Goldfield, focussed on the main NNW striking gold-quartz mineralised systems including Byron Reef, Scoulers Reef and the Maori Reef. Initial drilling by ECR in 2021 focussed on the Byron Reef and indicated that gold mineralisation was not continuous (see RNS 1 below).

In early 2022 the focus shifted to the Maori Reef which is the most easternly known vein system within the HR3 Goldfield. ECR geologists concluded that the Maori Reef is hosted within an anticlinal fold now called the ‘Maori Anticline’. Early drilling into this anticline has been successful (Holes BH3DD009, BH3DD010 and BH3DD011). Drilling continued to follow the anticlinal fold to the north and in depth with successful intersections in holes BH3DD019, BH3DD012 and BH3DD034, which contained visible gold (see RNS dated 22 November 2021 for more details of these drill hole results, a link of which is also set out below).

The reported drill results in this announcement are for the final drilling completed to date at HR3 and follow up the best results adjacent to hole BH3DD034, and in additional test drilling into the parallel quartz reef systems. Drilling was completed at the end of July 2022. Final results have just been received after long delays in laboratory turn-around due predominantly to issues relating to the COVID-19 pandemic.

Previous Drill results for HR3

  1. 22 December 2021 – BH3DD010, BH3DD011;

https://polaris.brighterir.com/public/ecr_minerals_plc/news/rns/story/wkn801w

  1. 23 December 2021 – Bailieston (HR3) Soil Sampling

https://polaris.brighterir.com/public/ecr_minerals_plc/news/rns/story/rmzlq5w

  1. 14 March 2022 – BH3DD012, BH3DD034 (Visible Gold)

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

  1. 22 April 2022 – BH3DD027 (Hard-Up Reef)

https://polaris.brighterir.com/public/ecr_minerals_plc/news/rns/story/w0mnmnx

DETAILS OF FINAL DRILLING

A total of eight holes were drilled in this final stage of drilling, and a summary of the work and associated results are set out below. Full details of the drill results are set out at the end of this announcement:

BH3DD036

BH3DD036 was drilled underneath the north end of the Maori Reef at the point where historical workings ended. The Maori Anticline was passed through at 92m where the hinge faulted. The best result was 0.3m @ 0.28 g/t Au from 176m. Drilling ended at a depth of 206.55m

BH3DD037

The drill team moved to the centre of the HR3 Goldfield to test the Scoulers Reef near the surface. A selected number of the following drillholes were also extended to test the Maori Anticline at depth. BH3DD037 drilled underneath the coincidental reported soil ‘Anomaly C’ (see RNS dated 23 December 2021, a link for which is above) and the location of earlier high-grade rock chips. Drilling results show a broad zone of lower grade mineralisation (see Table 2 below). The best intersection was 0.5m @ 4.55 g/t Au from 33.6m which relates to the Scoulers Reef. The hole ended at 115.8m.

BH3DD038

This hole drilled towards the east, passing through the Scoulers Reef at 27m depth and the Maori Anticline at 280m depth. The best intercept was 1m @ 3.34 g/t Au from 27m. A speck of visible gold was noted in thin quartz veinlets at 175.8m, however this was not reflected in the sampled grade of (0.4m @ 0.42 g/t Au from 175.8m). Drilling ended at a depth of 308.5m.

BH3DD039

Hole BH3DD039 was drilled underneath soil anomaly ‘B’ as reported in December 2021 (see RNS dated 23 December 2021, a link for which is above). Despite the presence of anomalous gold, no significant results greater than 1 g/t Au where intersected. Best result was 1m @ 0.96 g/t Au from 62.7m. This hole finished drilling at 140.8m.

BH3DD040

This hole was drilled towards the intersection of the Maori and Hard-Up Reef at depth. The Maori Reef was intersected at 242.3m with a grade of 1.96 g/t Au over a length of 0.35m. The best result from this hole was from the Scoulers Reef with 0.4m @ 3.99 g/t Au from 13.6m depth. This hole ended at 275.1m

BH3DD041

Whilst drilling continued towards the east into the Maori Antcline and Scoulers Reef, the decision was taken to drill a preliminary hole into the Byron Reef to the south of the old Byron Mine (see figure 1 above) after locating an exploration percussion hole from an earlier phase of exploration in the 1980’s. Historical documentation showed the hole BLP140 had previously yielded 3m @ 28 g/t Au from 33m. ECR’s drilling revealed the presence of a major shear zone containing sulphide and quartz mineralisation around 104m in depth. No significant gold was intercepted with the best result being 0.4m @ 0.53 g/t Au from 64.6m. This hole finished at 139.8m

BH3DD042

This hole was intended to drill deep into the Maori Anticline underneath the previous drilling of BH3DD017 and BH3DD012. The anticline was successfully identified at 273m where mineralisation was sampled returning 1m @ 4.96 g/t Au. The Scoulers Reef was also intersected in the upper portion of this hole with an intercept of 0.2m @ 9.22 g/t Au from 41.1m drill depth. This hole ended at 356.6m.

BH3DD043

Hole BH3DD043 was the last drill hole completed at HR3 this year. The hole was intentionally drilled to intercept the Maori Anticline approximately 25m to the immediate north of nearby drillholes BH3DD034, BH3DD035 and BH3DD019. The best mineralisation drilled was identified in a footwall vein to the Maori Anticline, with best intercepts beginning at a depth of 54m including 1m @ 4.82 g/t Au followed immediately by adjacent high-grade intercepts of 1m @ 5.54 g/t Au, 1m @ 9.79 g/t Au and 1m @ 15.91 g/t Au. This high-grade zone represents a length-weighted composite grade of 4m @ 9.01 g/t Au. This is the best length multiplied by grade intercept drilled to date in HR3. Drilling ended at a final depth of 194.5m.

SUMMARY OF EXPLORATION

Drilling at HR3 throughout the 2021-2022 period has been largely successful. Notable outcomes include:

  1. Identifying the Maori Anticline as a major host to gold mineralisation at the HR3 Goldfield.
  2. Initial high-grade intercepts located underneath the Maori Reef,Hard-Up Reef intersections.
  3. Locating and testing gold mineralisation at depth and strike within the Maori Anticline. An approximate strike length of 300m has now been initially drilled. Mineralisation is open along strike to the north and south.
  4. Exploration work during this period has also successfully identified a close spatial relationship of high arsenic (Arsenopyrite) and high antimony (Stibnite) ratios as pathfinders to gold mineralisation.

Table 1. Summary of the top ten drill intercepts containing reportable levels of gold for holes BH3DD036-BH3DD043. Arranged by hole name and depth.

HOLE From (m) To (m) Interval (m) Au (g/t) gram metres*
BH3DD037 33.6 34.1 0.5 4.55 2.27
BH3DD037 40.6 41 0.4 3.61 1.45
BH3DD038 27 28 1 3.34 3.34
BH3DD040 13.6 14 0.4 3.99 1.60
BH3DD042 41.1 41.3 0.2 9.22 1.84
BH3DD042 273 274 1 4.96 4.96
BH3DD043 54 55 1 4.82 4.82
BH3DD043 55 56 1 5.54 5.54
BH3DD043 56 57 1 9.79 9.79
BH3DD043 57 58 1 15.91 15.91

*Gram metres represents the contained Au metal within the reported length, calculated as interval (m) multiplied by grade (g/t Au)

Table 2. Drill intercepts for all reportable levels of gold above 0.1 g/t Au for holes BH3DD036-BH3DD043.

*Gram metres represents the contained Au metal within the reported length, calculated as interval (m) multiplied by grade (g/t Au)

BH3DD036        
From (m) To (m) Grade (g/t Au) Interval (m) Gram x Metres*
55 55.8 0.28 0.8 0.22
57 57.3 0.23 0.3 0.07
65.1 65.4 0.28 0.3 0.09
118.8 119.2 0.15 0.4 0.06
176 176.3 0.28 0.3 0.08
         
BH3DD037        
From (m) To (m) Grade (g/t Au) Interval (m) Gram x Metres
4.7 5.7 1.81 1 1.81
5.7 6.7 1.69 1 1.69
9.5 9.7 0.12 0.2 0.02
11.5 11.8 1.25 0.3 0.38
12.25 12.7 0.61 0.45 0.27
16 16.6 0.26 0.6 0.15
16.6 17 0.51 0.4 0.20
17 17.5 0.68 0.5 0.34
28 29 1.26 1 1.26
29.75 30.25 2.63 0.5 1.31
30.8 31.8 0.17 1 0.17
31.8 32.3 1.97 0.5 0.98
32.3 33 2.50 0.7 1.75
33 33.35 0.79 0.35 0.28
33.6 34.1 4.55 0.5 2.27
35.1 35.5 0.27 0.4 0.11
35.5 36.5 2.92 1 2.92
36.5 37.5 1.38 1 1.38
37.5 38 2.82 0.5 1.41
38 38.5 0.42 0.5 0.21
38.5 39.5 0.58 1 0.58
39.5 40.2 0.37 0.7 0.26
40.2 40.6 1.31 0.4 0.53
40.6 41 3.61 0.4 1.45
41 42 1.03 1 1.03
42 43 0.23 1 0.23
71.8 72 0.15 0.2 0.03
72 72.6 0.17 0.6 0.10
72.6 72.8 0.50 0.2 0.10
72.8 74 0.53 1.2 0.63
74 75 0.22 1 0.22
75 76 0.57 1 0.57
76 77 0.69 1 0.69
94.5 95.5 0.32 1 0.32
95.5 96.5 0.46 1 0.46
97.5 98.2 0.13 0.7 0.09
105.55 106 0.24 0.45 0.11
109 110 0.21 1 0.21
         
BH3DD038        
From (m) To (m) Grade (g/t Au) Interval (m) Gram x Metres
3.45 4.45 1.22 1 1.22
4.45 5 0.90 0.55 0.49
5 5.4 1.91 0.4 0.77
5.4 6 1.06 0.6 0.63
18 19 0.19 1 0.19
19 20 0.81 1 0.81
25 26 0.36 1 0.36
26 27 1.28 1 1.28
27 28 3.34 1 3.34
28 29 0.44 1 0.44
30 31 0.28 1 0.28
33.7 33.9 0.22 0.2 0.04
35.5 36.3 0.35 0.8 0.28
56.5 57.5 0.44 1 0.44
57.5 58 0.76 0.5 0.38
58 58.3 1.62 0.3 0.49
58.3 58.6 1.54 0.3 0.46
58.6 59 1.53 0.4 0.61
59 59.4 1.92 0.4 0.77
59.4 60.4 0.17 1 0.17
60.4 61.2 0.17 0.8 0.13
61.2 61.4 1.23 0.2 0.25
61.4 62.2 0.37 0.8 0.30
62.2 63 0.19 0.8 0.15
63 63.4 0.60 0.4 0.24
66.3 66.8 0.26 0.5 0.13
66.8 67.4 0.82 0.6 0.49
67.4 68.2 0.81 0.8 0.65
170.6 170.9 0.18 0.3 0.06
170.9 171.9 0.18 1 0.18
173.5 174.4 0.59 0.9 0.53
175.4 175.8 0.21 0.4 0.09
175.8 176 0.42 0.2 0.08
176 176.6 0.35 0.6 0.21
176.6 177.6 0.27 1 0.27
177.6 178 0.22 0.4 0.09
178 178.7 0.64 0.7 0.45
178.7 179.3 0.31 0.6 0.19
199 199.4 0.16 0.4 0.06
201.4 202 0.16 0.6 0.09
237.35 237.55 0.25 0.2 0.05
237.55 238 0.16 0.45 0.07
296.3 296.5 0.90 0.2 0.18
296.5 296.7 0.20 0.2 0.04
296.7 297 0.57 0.3 0.17
297 298 0.20 1 0.20
298 298.5 0.38 0.5 0.19
298.5 299 0.70 0.5 0.35
299 299.35 0.55 0.35 0.19
299.5 299.65 1.13 0.15 0.17
300.2 300.6 0.19 0.4 0.08
         
BH3DD039        
From (m) To (m) Grade (g/t Au) Interval (m) Gram x Metres
61.7 62.7 0.47 1 0.47
62.7 63.7 0.96 1 0.96
63.7 64.7 0.19 1 0.19
65.5 66 0.14 0.5 0.07
67 68 0.17 1 0.17
72.4 72.7 0.21 0.3 0.06
72.7 73 0.25 0.3 0.07
74.35 74.55 0.13 0.2 0.03
75.5 75.8 0.31 0.3 0.09
90.2 90.6 0.17 0.4 0.07
96 97 0.18 1 0.18
97.4 98.1 0.21 0.7 0.15
98.5 98.9 0.42 0.4 0.17
98.9 99.9 0.40 1 0.40
106.5 107 0.16 0.5 0.08
107 108 0.34 1 0.34
BH3DD040        
From (m) To (m) Grade (g/t Au) Interval (m) Gram x Metres
13.6 14 3.99 0.4 1.60
15 15.35 0.24 0.35 0.09
15.8 16.8 0.41 1 0.41
16.8 17.05 0.68 0.25 0.17
17.05 17.4 1.65 0.35 0.58
17.4 18 2.61 0.6 1.56
22.3 22.7 0.89 0.4 0.36
22.7 23 1.66 0.3 0.50
24.4 25.4 1.82 1 1.82
25.4 26.1 0.20 0.7 0.14
31.6 32.1 1.12 0.5 0.56
44 44.6 0.64 0.6 0.38
46.7 47.5 0.22 0.8 0.17
48.55 49 0.77 0.45 0.34
52.65 53.2 0.90 0.55 0.49
144.6 145.1 0.77 0.5 0.39
145.1 146.3 0.29 1.2 0.35
178 178.3 0.20 0.3 0.06
189 189.6 0.17 0.6 0.10
189.6 190.5 1.22 0.9 1.09
190.5 191.2 0.24 0.7 0.16
191.2 191.6 1.17 0.4 0.47
191.6 192 0.35 0.4 0.14
192 193 0.17 1 0.17
193.7 194.7 0.39 1 0.39
194.7 195.7 0.54 1 0.54
195.7 196.7 0.13 1 0.13
204.5 205 0.44 0.5 0.22
205 206 0.17 1 0.17
206 207 0.26 1 0.26
210 211 0.44 1 0.44
211 211.45 0.41 0.45 0.18
212.45 213.4 0.78 0.95 0.74
214 214.35 0.43 0.35 0.15
214.35 214.6 0.95 0.25 0.24
214.6 215.2 0.80 0.6 0.48
215.2 215.7 0.19 0.5 0.09
219.4 219.75 0.29 0.35 0.10
225.5 225.75 0.34 0.25 0.09
238.7 239.2 0.16 0.5 0.08
240.2 241.2 0.78 1 0.78
241.65 242.3 1.11 0.65 0.72
242.3 242.65 1.96 0.35 0.69
242.65 243.1 0.21 0.45 0.10
258.6 259.3 0.17 0.7 0.12
259.3 259.65 1.13 0.35 0.40
259.65 260 0.67 0.35 0.23
260 260.5 0.23 0.5 0.12
         
BH3DD041        
From (m) To (m) Grade (g/t Au) Interval (m) Gram x Metres
41.7 42.25 0.27 0.55 0.15
42.25 42.7 0.42 0.45 0.19
49.2 49.6 0.15 0.4 0.06
64.6 65 0.53 0.4 0.21
91.7 92.7 0.22 1 0.22
104 104.25 0.12 0.25 0.03
104.25 104.6 0.18 0.35 0.06
         
BH3DD042        
From (m) To (m) Grade (g/t Au) Interval (m) Gram x Metres
37.55 38.4 0.16 0.85 0.13
40.8 41.1 1.79 0.3 0.54
41.1 41.3 9.22 0.2 1.84
41.3 42 1.30 0.7 0.91
44 45 0.17 1 0.17
56.8 57 0.20 0.2 0.04
61.6 61.85 0.23 0.25 0.06
73.2 73.5 0.24 0.3 0.07
74.7 75.05 0.25 0.35 0.09
75.05 75.4 0.21 0.35 0.07
81.45 82 0.17 0.55 0.09
103.3 103.6 0.19 0.3 0.06
103.6 103.95 0.65 0.35 0.23
103.95 104.5 0.33 0.55 0.18
104.5 105.2 0.38 0.7 0.27
105.2 106.2 0.24 1 0.24
106.2 106.8 0.82 0.6 0.49
106.8 107.2 0.62 0.4 0.25
107.2 107.6 1.08 0.4 0.43
107.6 108.7 0.33 1.1 0.36
108.7 108.9 0.41 0.2 0.08
109.1 109.7 0.26 0.6 0.16
109.7 110.7 0.53 1 0.53
110.7 111 0.38 0.3 0.12
111 111.6 1.13 0.6 0.68
111.6 112.6 1.45 1 1.45
112.6 113.6 1.36 1 1.36
113.6 114.4 0.66 0.8 0.52
114.4 114.7 1.09 0.3 0.33
115 115.7 0.98 0.7 0.69
115.7 116.2 0.30 0.5 0.15
118.2 118.7 0.32 0.5 0.16
118.7 119 0.94 0.3 0.28
119 119.25 1.07 0.25 0.27
119.25 119.7 1.48 0.45 0.67
119.7 120.1 0.99 0.4 0.39
120.1 120.4 0.72 0.3 0.22
149.25 150.2 0.16 0.95 0.15
152.1 152.4 0.17 0.3 0.05
153.7 154.3 0.16 0.6 0.09
169.9 170.2 0.26 0.3 0.08
198.9 199.5 0.18 0.6 0.11
205.05 206.2 0.30 1.15 0.35
247.8 248.6 0.22 0.8 0.17
248.6 249.4 0.31 0.8 0.25
252 252.7 0.48 0.7 0.34
252.7 253 0.30 0.3 0.09
267.9 268.7 0.22 0.8 0.17
269.9 270.9 0.82 1 0.82
270.9 271.9 0.38 1 0.38
271.9 272.4 0.43 0.5 0.22
273 274 4.96 1 4.96
274 275 0.22 1 0.22
309.8 310.3 0.35 0.5 0.18
311 311.6 0.19 0.6 0.11
311.9 312.5 0.25 0.6 0.15
314.05 314.3 0.29 0.25 0.07
349.8 350.25 0.16 0.45 0.07
         
BH3DD043        
From (m) To (m) Grade (g/t Au) Interval (m) Gram x Metres
35.9 37 1.54 1.1 1.69
38 38.2 0.79 0.2 0.16
44 45 0.56 1 0.56
45 46 1.54 1 1.54
46 47 1.19 1 1.19
53 54 0.42 1 0.42
54 55 4.82 1 4.82
55 56 5.54 1 5.54
56 57 9.79 1 9.79
57 58 15.91 1 15.91
58 59 1.87 1 1.87
59 59.3 1.45 0.3 0.43
59.3 59.7 0.39 0.4 0.16
59.7 60.2 0.22 0.5 0.11
60.9 61.6 2.52 0.7 1.77
61.6 62 0.29 0.4 0.12
63 64 0.20 1 0.20
64 65 0.34 1 0.34
65 66 0.20 1 0.20
68 69 0.17 1 0.17
69 69.8 0.52 0.8 0.42
69.8 70.9 0.22 1.1 0.24
72 73 0.24 1 0.24
98 98.5 0.31 0.5 0.16
109.4 110.4 0.17 1 0.17
110.4 111.2 0.22 0.8 0.17
111.2 112 0.25 0.8 0.20
123.2 124 0.24 0.8 0.20
124 125 0.31 1 0.31
150.4 150.8 0.69 0.4 0.27
158.8 159.1 0.98 0.3 0.29
159.1 160.1 0.72 1 0.72
160.1 161 0.36 0.9 0.32
161 162 0.43 1 0.43
189.4 190 1.17 0.6 0.70

Table 3. Gram-metre intersections for BH3DD036-BH3DD043 (for intersections containing => 1g/t Au)

*Gram metres represents the contained Au metal within the reported length, calculated as interval (m) multiplied by grade (g/t Au) 

BH3DD037      
From (m) To (m) Grade (g/t Au) Interval (m) Gram x Metres
4.7 5.7 1.81 1 1.81
5.7 6.7 1.69 1 1.69
28 29 1.26 1 1.26
29.75 30.25 2.63 0.5 1.31
32.3 33 2.50 0.7 1.75
33.6 34.1 4.55 0.5 2.27
35.5 36.5 2.92 1 2.92
36.5 37.5 1.38 1 1.38
37.5 38 2.82 0.5 1.41
40.6 41 3.61 0.4 1.45
41 42 1.03 1 1.03
BH3DD038      
From (m) To (m) Grade (g/t Au) Interval (m) Gram x Metres
3.45 4.45 1.22 1 1.22
26 27 1.28 1 1.28
27 28 3.34 1 3.34
         
BH3DD040      
From (m) To (m) Grade (g/t Au) Interval (m) Gram x Metres
13.6 14 3.99 0.4 1.60
17.4 18 2.61 0.6 1.56
24.4 25.4 1.82 1 1.82
189.6 190.5 1.22 0.9 1.09
         
BH3DD042      
From (m) To (m) Grade (g/t Au) Interval (m) Gram x Metres
41.1 41.3 9.22 0.2 1.84
111.6 112.6 1.45 1 1.45
112.6 113.6 1.36 1 1.36
273 274 4.96 1 4.96
         
BH3DD043      
From (m) To (m) Grade (g/t Au) Interval (m) Gram x Metres
35.9 37 1.54 1.1 1.69
45 46 1.54 1 1.54
46 47 1.19 1 1.19
54 55 4.82 1 4.82
55 56 5.54 1 5.54
56 57 9.79 1 9.79
57 58 15.91 1 15.91
58 59 1.87 1 1.87
60.9 61.6 2.52 0.7 1.77

SUMMARY

Whilst varied, the Directors are pleased with the outcome of the final results from HR3. These results show that mineralisation is still open to the north of hole BH3DD043 and at depth. Technical director Adam Jones will evaluate the potential of follow up drilling for these results over the coming Australian summer period.

In the meantime, drilling continues at the nearby Blue Moon prospect with two holes now completed and samples submitted to the laboratory for analysis. Drilling is planned to continue into the Christmas holiday period.

Soil sampling and rock chip sampling have been completed on adjacent parallel quartz reefs on the Creswick tenements (EL6184) with results expected by the end of this month. The outcome of this work will delineate further drill targets for the 2023 drilling season.

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.

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
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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 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.

https://mercatorgold.com.au/

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.

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.

ECR Minerals #ECR – Drilling Commences at Blue Moon Prospect, Bailieston, Victoria

ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce that drilling has commenced at the Blue Moon prospect at Bailieston using the Company’s own ‘MIDAS’ drill rig.

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 and drilled by ECR’s Australian wholly owned subsidiary Mercator Gold Australia Pty Ltd (“MGA”).

ECR CEO Andrew Haythorpe commented: “As I stated in our drill plan announcement on 11 August 2022, the previous Blue Moon campaign in 2019 recorded consistent levels of mineralisation at hole BBM007 of 15m @ 3.81 g/t gold. It was considered then that these numbers could indicate a potentially commercial discovery, although of course this cannot be guaranteed. The four holes we are drilling now will ‘twin’ with the previous RC drill holes up to and west of the point at which the previous RC drill program ended in 2019 and will initially seek to confirm previous consistency and levels of mineralisation. A successful intersection could potentially double the strike extent of the prospect, although we cannot of course guarantee this will take place.”

“I look forward to reporting back as soon as possible with early results from the Blue Moon campaign.”

HIGHLIGHTS

  • MIDAS drill rig team commences diamond drilling an initial four holes covering 1000 metres.
  • The campaign will follow-up good results from the RC Drilling finished in 2019.
  • Plans are already in place to expand the drilling programme subject to results.

An overview plan of the planned drill sites can be found here:

Fig 1: https://www.ecrminerals.com/images/2022/fig1_BBM_DD_Planned_2022.png

BLUE MOON PROSPECT AND DRILL PLAN

The Blue Moon prospect is located 8.5km directly south of the currently drilled HR3 prospect. The mineralisation at Blue Moon is hosted within a massive sandstone body striking east to west which differs to the majority of other gold prospects within the region that usually strike north-south. In addition, quartz mineralisation is generally absent, which as a result means that historic prospectors do not appear to have discovered the outcrop. RC drilling in 2019 shows gold mineralisation to be associated with disseminated sulphide, present as arsenopyrite. The eastern end of the known outcrop has been cut by an interpreted cross fault.

As announced on 11 August 2022 (link here to announcement), drilling will be undertaken using ECR’s owned and operated diamond drill rig named ‘MIDAS’. Initial drillholes will be collared within the public track easement as shown in (fig 1 above). From these two locations, drilling will firstly investigate the possible strike extension of the Blue Moon prospect west of and at the point where the RC drill program in 2019 finished. Four initial holes are planned for an approximate total of 1000m, the outcome of which will determine further drilling. If the planned drilling successfully intersects mineralisation, this has potential to double the strike extent of the prospect.

Previous drilling at Blue Moon only covered a small section of the outcrop. The deposit is open at depth and also along strike to the west and east. Permissions from landholders are currently in progress to explore the potential strike further to the east where an interpretative cross fault ends the known current outcrop. Plans are already in place to expand the drilling programme subject to results from the initial four holes.

The style of the Blue Moon mineralisation also raises further questions over other potential opportunities within the region to discover another ‘Blue Moon’. ECR is well positioned in this regard, with adjacent exploration tenements to EL5433, covering similar regional geology awaiting approval

OVERVIEW OF PREVIOUS EXPLORATION WORK

Three diamond drillholes and twelve RC drillholes were completed during the 2018 and 2019 period. This drilling is broadly spaced over a strike length of 110m, and the deepest intercept isn’t more than 175m below surface. The RC drilling campaign during 2019 showed promise on the most westerly drill section where the best results have included 2m @ 17.87 g/t Au from 51m (RC hole BBM007) and 3m @ 3.88 g/t Au from 169m (RC hole BBM006). It is emphasised that both these intercepts are supported within part of a broader zone of lower grade mineralisation such as 15m @ 3.81 g/t Au (BBM007) and 11m @ 2.42 g/t Au (BBM007). As such, these increased widths could be supported by grades of potential economic interest, but it is not guaranteed. Drilling to date has not continued into and across the track easement to the west of the RC Drilling (see fig 1 above).

Results from the 2019 RC drill program can be found in the announcement dated 1 May 2019 “New Gold Discovery-Blue Moon Deposit, Victoria, Australia” here.

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:

 

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

ECR Minerals #ECR – Planned Follow-up Drilling in early September at Blue Moon Prospect, Bailieston, Victoria

ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to release the upcoming plans and intentions for further drilling at the Blue Moon prospect in early September 2022.

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 CEO Andrew Haythorpe commented: “The style of mineralisation at Blue Moon is intriguing. Compared to the scale of mineralisation seen at HR3, where typically a result could be 50cm across, we are looking at potential widths of around 7m. The previous Blue Moon campaign in 2019 recorded consistent mineralisation at hole BBM007 of 15m @ 3.81 g/t gold, which could potentially contain commercial levels of mineralisation.”

“I look forward to reporting back on the upcoming 2022 drilling campaign at Blue Moon.”

ECR Chairman David Tang added: “Along with the ECR board, I am very much enthused by the potential opportunity on offer at Blue Moon. Our company has a portfolio of what we consider to be valuable gold exploration assets across Victoria, but I know Andrew and Adam view Blue Moon as an asset with significant potential, and as such are very keen to commence work there. I very much look forward to further progress updates in the coming weeks.”

HIGHLIGHTS

  • Permits in place for planned diamond drilling for an initial four holes over 1000 metres, anticipated to begin in early September 2022.
  • Drilling designed to follow-up good results from the RC Drilling finished in 2019.
  • Plans are already in place to expand the drilling programme subject to results.

An overview plan of the planned drill sites can be found here:

Fig 1: https://www.ecrminerals.com/images/2022/fig1_BBM_DD_Planned_2022.png

BLUE MOON PROSPECT

The Blue Moon prospect is located 8.5km directly south of the currently drilled HR3 prospect. The mineralisation at Blue Moon is hosted within a massive sandstone body striking east to west which differs to the majority of other gold prospects within the region that usually strike north-south. In addition, quartz mineralisation is generally absent, which as a result means that historic prospectors do not appear to have discovered the outcrop. RC drilling in 2019 shows gold mineralisation to be associated with disseminated sulphide, present as arsenopyrite. The eastern end of the known outcrop has been cut by an interpreted cross fault.

OVERVIEW OF PREVIOUS EXPLORATION WORK

Three diamond drillholes and twelve RC drillholes were completed during the 2018 and 2019 period. This drilling is broadly spaced over a strike length of 110m, and the deepest intercept isn’t more than 175m below surface. The RC drilling campaign during 2019 showed promise on the most westerly drill section where the best results have included 2m @ 17.87 g/t Au from 51m (RC hole BBM007) and 3m @ 3.88 g/t Au from 169m (RC hole BBM006). It is emphasised that both these intercepts are supported within part of a broader zone of lower grade mineralisation such as 15m @ 3.81 g/t Au (BBM007) and 11m @ 2.42 g/t Au (BBM007). As such, these increased widths could be supported by grades of potential economic interest, but it is not guaranteed. Drilling to date has not continued into and across the track easement to the west of the RC Drilling (see fig 1 above).

Results from the 2019 RC drill program can be found in the announcement dated 1 May 2019 “New Gold Discovery-Blue Moon Deposit, Victoria, Australia” here.

INITIAL DRILLING PROGRAM SEPTEMBER 2022

Drilling will be undertaken using ECR’s owned and operated diamond drill rig named ‘MIDAS’. Initial drillholes will be collared within the public track easement as shown in (fig 1). From these two locations, drilling will firstly investigate the possible strike extension of the Blue Moon prospect west of and at the point where the RC drill program in 2019 finished. Four initial holes are planned for an approximate total of 1000m, the outcome of which will determine further drilling. If the planned drilling successfully intersects mineralisation, this has potential to double the strike extent of the prospect.

NEXT STEPS

Previous drilling at Blue Moon only covered a small section of the outcrop. The deposit is open at depth and also along strike to the west and east. Permissions from landholders are currently in progress to explore the potential strike further to the east where an interpretative cross fault ends the known current outcrop. Plans are already in place to expand the drilling programme subject to results from the initial four holes.

The style of the Blue Moon mineralisation also raises further questions over other potential opportunities within the region to discover another ‘Blue Moon’. ECR is well positioned in this regard, with adjacent exploration tenements to EL5433, covering similar regional geology awaiting approval.

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:

 

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.

Home

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.

ECR Minerals #ECR – Two Mineralisation Corridors Identified from HR3 hole BH3DD032 at Bailieston, Victoria

ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce updated gold results from drill hole BH3DD032 at the HR3 prospect at Bailieston. These results link to previous results from the HR3 drilling programme (see announcements from 8 June 2022 here and 11 July here) and which now reveal two potential mineralised corridors within the Maori Anticline.

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 CEO Andrew Haythorpe commented: “I am delighted to report to you the latest assay results from HR3. Despite the well documented delays in receiving these assays, and with results from a further seven drill holes still to come, I believe that Technical Director Adam Jones and his team are doing an outstanding job in uncovering an asset of increasing significance for ECR. The grades at hole BH3DD032 demonstrate potential cross-asset consistency, building on the previously reported grade continuity from holes BH3DD035, BH3DD012, BH3DD019 and BH3DD034, and establishing what we believe are two mineralised corridors within the Maori Anticline.”

“This is an exciting development for ECR. I look forward to reporting the results from the seven drill holes still to come, and on the upcoming Blue Moon drilling campaign.”

ECR Chairman David Tang added: “I commend this excellent work by Adam Jones and the team and reiterate my previous comments that myself, Andrew and the board are eager to see the true scale of the Bailieston asset.”

HIGHLIGHTS

  • Best results in BH3DD032 are 0.2m @ 4.81 g/t Au and 0.4m @ 6.11 g/t Au beginning from 154.1m downhole.
  • The results link to previously drilled holes revealing two potential mineralised corridors within the Maori Anticline (see announcements from 8 June 2022 here and 11 July here).

A generalised section of BH3DD032 referencing the following paragraphs can be found at the link below;

Fig 1: https://www.ecrminerals.com/images/2022/fig1_BH3DD032_Section_220808

BH3DD032

BH3DD032 was drilled at depth and on section underneath holes BH3DD019, BH3DD034, BH3DD035 and BH3DD033. The aim of drilling BH3DD032 was to test the continuity of mineralised structures identified in BH3DD019. This structure was drilled through at 118m with an anomalous result of 0.2m @ 0.59 g/t Au. Drilling continued to pass through the central core of the Maori Anticline at around 145m in depth. A narrow quartz-sulphide fault with associated tension veining at 154.1m downhole produced the best results with 0.2m @ 4.81 g/t Au from 154.1m and 0.4m @ 6.11 g/t Au from 154.3m. Fault movement indicators show a south plunging system, as predicted from earlier drilling. BH3DD032 also passed through a perpendicular vein system at 249.7m grading 0.4m @ 2.4 g/t Au from 249.7m and 0.9m @ 0.72 g/t Au from 250.1m and 0.2m @ 3.06 gt Au from 256.8m. Drilling ended at a depth of 260.6m.

TWO MINERALISED CORRIDORS

Plotting the location of gold intercepts from BH3DD032 and other adjacent drill holes in section view reveal the likelihood of two main corridors of mineralisation (see fig 1 above). Mineralisation is located respectively on each side of the Maori Anticline where anastomosing narrow gold and antimony (stibnite) veins propagate. The system is open at depth and along strike to the north.

Table 1. Summary of drill intercepts containing reportable levels of gold greater than 0.1 g/t Au for BH3DD032 (highlights in bold).

BH3DD032

From To Grade (g/t Au) Interval (m)
7 8 0.33 1
8 9 1.68 1
9 10 1.44 1
11 12 0.72 1
13 14 0.58 1
18 19 0.14 1
19 20 0.17 1
37.3 37.7 1.54 0.4
37.7 38 0.15 0.3
41 42 0.32 1
42 43 0.31 1
43 44 0.38 1
47 48 0.96 1
48 49 1.29 1
49 50 0.26 1
50 51 1.04 1
51 52 0.67 1
52 53 0.57 1
53 54 0.20 1
54 55 0.14 1
55 56 0.13 1
57 58 0.16 1
58 59.5 0.88 1.5
59.5 60.2 2.63 0.7
60.2 61 0.37 0.8
61 62 0.21 1
62 63 0.21 1
63 64 0.24 1
69 70 0.37 1
70 71 0.31 1
74.5 75 0.21 0.5
82.7 82.9 0.29 0.2
85.2 85.4 0.51 0.2
95 95.3 0.22 0.3
107.1 107.3 0.13 0.2
107.7 107.9 0.34 0.2
117.3 118 0.13 0.7
118 118.2 0.59 0.2
137.1 137.3 0.30 0.2
138.8 139 0.33 0.2
145.3 145.6 0.10 0.3
154.1 154.3 4.81 0.2
154.3 154.7 6.11 0.4
154.7 155.5 0.12 0.8
174.9 175.1 0.13 0.2
181 181.7 0.16 0.7
181.7 181.9 1.29 0.2
210 210.8 0.13 0.8
210.8 211.55 0.79 0.75
211.55 212.4 0.83 0.85
212.4 213.2 1.55 0.8
213.2 213.4 0.49 0.2
213.4 213.95 0.72 0.55
213.95 215 0.23 1.05
215 215.75 0.22 0.75
215.75 216.7 0.26 0.95
216.7 216.9 0.13 0.2
216.9 217.1 0.23 0.2
217.1 217.2 0.19 0.1
245.4 245.6 0.29 0.2
245.6 246.1 0.13 0.5
246.1 246.3 0.84 0.2
246.3 247 0.14 0.7
247 247.5 0.33 0.5
247.5 248 0.48 0.5
248 248.4 0.37 0.4
248.4 249 0.53 0.6
249 249.7 0.17 0.7
249.7 250.1 2.40 0.4
250.1 251 0.72 0.9
251 252 0.49 1
252 252.8 0.28 0.8
252.8 253 0.49 0.2
253 253.6 0.33 0.6
253.6 254.3 0.30 0.7
254.3 254.5 0.47 0.2
256.4 256.6 0.25 0.2
256.6 256.8 0.16 0.2
256.8 257 3.06 0.2

NEXT STEPS

The Company is awaiting the results from another 7 drill holes within the HR3 Goldfield. Three of these holes were drilled 200m along strike to the south of hole BH3DD032.

Drilling is also planned to commence at the Blue Moon prospect next month (September 2022). Initially drilled in 2019 (see announcement dated 14 March 2019 here and announcement dated 1 May 2019 here), Blue Moon is located approximately 10km to the south of HR3 and is hosted within a large sandstone body. The Directors consider Blue Moon to be highly prospective due to its width and initial indications of more consistent grades.

In regard to Creswick, groundwork is currently underway, with soil and rock chip sampling in progress along strike and parallel to the 2021 drilling sites.

Work is also planned to commence in September 2022 at ECR’s Lolworth tenements in North Queensland. Initial reconnaissance work is intended to confirm historic visible gold sampling with additional follow up sampling towards the creek headwaters to locate the source of any gold anomalies.

The Company will keep shareholders updated on the progress of the planned work.

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.

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.

Home

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.

ECR Minerals #ECR – Drill Results from BH3DD035 Show Signs of Grade Continuity at Bailieston, Victoria

ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce the gold results from hole BH3DD035 from drilling at the HR3 prospect at Bailieston. Early stages of geological interpretation are linking the results from BH3DD035 to adjacent drillholes BH3DD012, BH3DD019 and BH3DD034.*

ECR Minerals 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”).

HIGHLIGHTS

  • Best result in BH3DD035 was 0.25m @ 16.15 g/t Au from 163.25m drilled depth.
  • Mineralised zones show continuity to adjacent previously drilled intercepts in holes BH3DD012, BH3DD019 and BH3DD034.

ECR CEO Andrew Haythorpe commented: “At last week’s investor presentation I outlined our commitment to continue the intensive drilling campaign into the second half of 2022. The assay results from hole BH3DD035 indicate signs of grade continuity in line with those already recorded at holes BH3DD012, BH3DD019 and BH3DD034, and from a technical standpoint provides our team with confidence in the Maori Anticline campaign outcome. I look forward to reporting the remaining assay results.”

“As I also indicated, along with Technical Director Adam Jones I am personally excited at the prospect of commencing our Blue Moon drilling campaign. With my geologist hat on, this asset presents an intriguing opportunity for us all.”

ECR Chairman David Tang added: “I am very excited by the opportunities that the assay results from Bailieston continue to reveal, and enthusiastic about the future of ECR under Andrew’s leadership.”

*References and links to these previous announcements can be found here:

  • BH3DD012: see RNS dated March 14th 2022 ‘Visible Gold Identified at HR3. Progress of Drilling Continues into the Maori Anticline Target’ Link here to view
  • BH3DD019: see RNS dated March 2nd 2022 ‘Drilling Continues to Extend Gold Mineralisation within the Maori Reef’. Link here to view
  • BH3DD034: see RNS dated June 8th 2022 ‘Multiple High Grade Gold Intercepts from hole BH3DD034 at HR3, Bailieston Victoria’ Link here to view

A link to an image of the holes referenced in this announcement can be found here;

Fig 1: https://www.ecrminerals.com/images/2022/fig1_BH3DD035_220708

BH3DD035

In response to the visible gold observed in BH3DD034 at 149.2m depth, BH3DD035 was drilled in the same direction as BH3DD034 but at a steeper dip with the expected vein target around 175m depth. A quartz vein with similar textures to the veining identified in BH3DD034 was drilled through at 163.25m depth in BH3DD035. Results from this vein revealed 0.25m @ 16.15 g/t Au and is the best intercept from this hole. Once mineralisation was passed the hole terminated at the final depth of 185.15m.

LINK TO ADJACENT DRILLHOLES

Observations show that mineralised zones within BH3DD035 link geologically to adjacent drillholes BH3DD012, BH3DD019 and BH3DD034. The best intercept in BH3DD035 at 163.25m correlates approximately 20m below a stibnite (antimony sulphide) vein in BH3DD019 which revealed an intercept of 0.3m @ 4.59 g/t Au (see RNS 2 March 2022 here). We anticipate that the long awaited assay results from hole BH3DD032, which targeted vein continuity another 20m below hole BH3DD035, and which are due from the assay laboratories shortly, will further add to our understanding of the size and structure of this target zone. We look forward to updating shareholders when those results are received. Quartz veining has been observed in hole BH3DD032 within the expected target zone

Table 1. Summary of drill intercepts containing reportable levels of gold greater than 0.1 g/t Au for BH3DD035 (*highlights in bold).

BH3DD035

From To Grade (g/t Au) Interval (m)
2.9 3.2 0.14 0.3
6.5 7 0.60 0.5
8 9 0.23 1
9 10 0.60 1
16 17 0.64 1
31.5 32.2 0.20 0.7
34.5 35 1.12 0.5
35 36 0.60 1
36 37 0.16 1
40 41 0.15 1
43 44 0.19 1
44 45 0.58 1
45 46 1.01 1
46 47 0.42 1
48 49 0.16 1
50 51 0.20 1
52 52.9 0.38 0.9
52.9 54.2 0.31 1.3
54.2 55 0.87 0.8
55 55.4 1.08 0.4
55.4 55.7 0.60 0.3
55.7 56 0.89 0.3
56 57 0.89 1
57 58 0.17 1
58 59.1 0.49 1.1
59.1 59.3 2.62 0.2
59.3 60 1.35 0.7
60 60.8 0.51 0.8
60.8 61.2 0.41 0.4
61.2 61.5 0.27 0.3
61.5 62 0.24 0.5
62 63 0.15 1
65 66 0.16 1
66 67 0.55 1
67 67.4 1.86 0.4
67.4 68 0.22 0.6
68 69 0.13 1
70 71 0.36 1
71 72 0.35 1
74 74.5 0.33 0.5
74.5 74.8 0.46 0.3
74.8 75 1.60 0.2
76 77 0.21 1
77 78 0.32 1
84 84.6 0.84 0.6
84.6 84.9 4.78 0.3
84.9 86 0.30 1.1
87 88 0.16 1
88 89 0.15 1
90.2 90.4 0.34 0.2
90.4 90.9 1.06 0.5
90.9 91.3 3.72 0.4
91.3 92 0.61 0.7
92 93 0.18 1
100.7 101.1 0.53 0.4
103 103.3 0.65 0.3
103.3 103.45 5.26 0.15
108.4 108.6 0.33 0.2
110.2 111.2 0.63 1
120.5 120.7 0.20 0.2
122.7 123 0.15 0.3
123 123.2 0.51 0.2
123.2 123.4 0.42 0.2
123.4 123.7 0.36 0.3
123.7 124.1 0.29 0.4
126.4 126.8 0.14 0.4
126.8 127.1 0.30 0.3
162.25 163.25 0.62 1
163.25 163.5 16.15 0.25

LOOKING FORWARD STATEMENTS

The Company has now completed spaced drilling along the down-dip extensions of the Maori Anticline within the HR3 Goldfield. Holes have been logged and sampled and we now await the results from the laboratory. At this stage we expect a flow of assay results throughout July, August and September 2022. Our drilling campaign continues to identify narrow veining deeper into the axis of the Maori Anticline over a strike length of approximately 300m, and once the final results are in, the board will determine the next steps for this project area. In addition, as outlined by our CEO Andrew Haythorpe at his presentation at the Proactive One2One event in London on 6 July 2022, the Company plans to commence drilling at its ‘Blue Moon’ prospect in August 2022.

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.

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.

Home

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.

Home

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.

ECR Minerals #ECR – Multiple High Grade Gold Intercepts from hole BH3DD034 at HR3, Bailieston Victoria

ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce a progressive update from drilling at HR3, Bailieston with high gold intercepts received for hole BH3DD034. Visible gold was previously announced from this hole (see announcement dated 14th March 2022)

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 CEO Andrew Haythorpe commented: “This is an outstanding result, capably executed and delivered by Adam and the drill team. As a geologist myself, along with the team, I am excited by the continuity of grade and the manner in which the Maori Anticline is further revealing itself through each assay result. There is clearly much more to come.”

ECR Chairman David Tang added: “There is a palpable sense of excitement at ECR Minerals as the intensive drilling campaign across our Victoria assets is now, despite the delays in assay processing, yielding consistently high gold grades. I am delighted for Adam and the team – this exceptional result today and the continuity of grade between Zone 2 and Zone 3 could well indicate a significant find. We look forward to the remaining assay results from the adjacent holes.”

HIGHLIGHTS:

  • Drillhole BH3DD034 returned four high gold grade intercepts at drilled depths; (0.3m@ 20.34 g/t Au from 18.2m), (0.65m @ 13.02 g/t Au from 54.2m), (0.3m @ 10.59 g/t Au from 97.9m) and (0.25m @ 45.0 g/t Au from 149.2m).
  • Visible gold recorded at 149.2m depth.
  • Mineralised zones show continuity to adjacent previously drilled intercepts in hole BH3DD019.

The links to three figures that will be referenced in the following comments can be found here;

Fig 1: https://www.ecrminerals.com/images/2022/fig1_BH3DD034_section_220606.png

Fig 2: https://www.ecrminerals.com/images/2022/fig2_BH3DD034_Plan_220606.png

Fig 3: https://www.ecrminerals.com/images/2022/fig3_BH3DD034_Best_Intercepts.png

 

BH3DD034

Hole BH3DD034 was one of four holes completed as follow-up drilling to previously announced hole BH3DD019 (see announcement dated 2nd March 2022), where four mineralised ‘zones’ were identified down-hole. The location of this drilling is shown at the top of the plan in fig 2 (linked above). To date, drilling and geological logging has been completed with assay results pending for complimentary adjacent drillholes BH3DD032, BH3DD033 and BH3DD035.

Hole BH3DD034 was drilled between the 4th and 11th of April 2022, and finished at a total drilled depth of 167.5m. Drilling was completed over six working days averaging 28m per day, which includes mobilisation and setup time. Progress was initially hampered by water loss and broken ground within the first 100m of drilling.

Visible gold was reported at a depth of 149.2m, hosted within a narrow bedded laminated quartz vein. Gold specks up to a particle size of 2mm are present. This vein resulted in an intercept of 0.25m @ 45.0 g/t Au. The immediate wall rock either side of this vein is supported by low, sub-gram gold grades representing a mineralised drilled interval of 6.7m @ 2.13 g/t Au from 146.3m. Three other mineralised zones have been identified further up-hole including 0.3m @ 20.34 g/t Au from 18.2m, 0.65m @ 13.02 g/t Au from 54.2m and 0.3m @ 10.59 g/t Au from 97.9m. Each mineralised zone is approximately spaced throughout the drilled hole depth (see fig 1).

Arsenopyrite (sulphide) crystals in the shape of small lathes and needles were seen within the high-grade interval at 97.9m. Sulphides crystallised in this manner are known to be associated with good gold values, such as those at nearby deposits located at Nagambie and the Fosterville Fault zone.

ECR Geologists have linked some of the four mineralised zones in BH3DD034 to similar zones in hole BH3DD019. Intercepts in hole BH3DD019 are within 50m to the south of intercepts in BH3DD034. Details of the link between mineralised zones can be seen in fig 1. In particular, we have noted the continuity of grade between Zone 2 in BH3DD019 and Zone 3 in BH3DD034. Due to the broken nature of these intercepts, a clear understanding of the dip of mineralisation is not well understood at this stage. The laminated texture of the quartz and the relationship of the angle of quartz intercepts to bedding planes infers that the mineralised zone is likely to be bedding parallel in nature. The veins reside in the hanging-wall of a narrow fault where bedding dip angles change dramatically. This fault contains low gold mineralisation.

Table 1. Summary of drill intercepts containing reportable levels of gold greater than 0.1 g/t Au for BH3DD034 (*highlights in bold).

BH3DD034

From (m) To (m) Grade (g/t Au) Interval (m) Comment
3 3.5 0.39 0.5
11 11.3 0.26 0.3
18.2 18.5 20.34 0.3 Zone 1
18.5 19.5 0.21 1 Zone 1
20.5 21.5 0.18 1 Zone 1
25.5 26 0.17 0.5 Zone 1
26.5 27.5 3.46 1 Zone 1
33 34 0.79 1
34 35 0.39 1
35 36 0.35 1
36 36.6 0.50 0.6
36.6 37 0.31 0.4
37 37.3 0.46 0.3
37.3 38.1 0.57 0.8
38.1 39 0.21 0.9
39 39.5 1.66 0.5
39.5 40 0.53 0.5
46.1 46.6 0.28 0.5
46.6 47.2 0.30 0.6
50.7 51.3 0.14 0.6 Zone 2
51.6 52 0.17 0.4 Zone 2
52 53 0.15 1 Zone 2
53 53.5 0.30 0.5 Zone 2
53.5 54.2 0.24 0.7 Zone 2
54.2 54.85 13.02 0.65 Zone 2
56.5 57 0.19 0.5
58.2 58.7 0.18 0.5
71.6 72.25 0.98 0.65
72.8 73.4 0.16 0.6
80.2 81 0.22 0.8
81 81.6 0.41 0.6
97.2 97.5 0.50 0.3 Zone 3
97.5 97.9 0.60 0.4 Zone 3
97.9 98.2 10.59 0.3 Zone 3 (Arsenopyrite Needles)
98.2 98.75 0.26 0.55 Zone 3
99.4 100 0.13 0.6 Zone 3
105.5 106 0.34 0.5
146.3 146.6 0.62 0.3 Zone 4
146.6 147 0.46 0.4 Zone 4
147 147.8 0.17 0.8 Zone 4
147.8 148.2 0.58 0.4 Zone 4
148.2 148.6 1.92 0.4 Zone 4
148.6 149.2 0.49 0.6 Zone 4
149.2 149.45 45.0 0.25 Zone 4 (Visible Gold)
149.45 150 0.43 0.55 Zone 4
150 150.5 0.83 0.5 Zone 4
150.5 151 0.36 0.5 Zone 4
151 152 0.25 1 Zone 4
152 153 0.14 1 Zone 4

LOOKING FORWARD STATEMENTS

With the results of BH3DD034 now received, the board eagerly awaits the results of adjacent holes BH3DD032, BH3DD033 and BH3DD035. Despite the narrow nature of the reported mineralised zones, there is high optimism for continuity of mineralisation as seen currently by the correlating intercepts between hole BH3DD019 and BH3DD034.

It is becoming clear the fold hinge (termed the ‘Maori Anticline’) hosts multiple narrow faults and bedded veins that host gold-antimony (stibnite) mineralisation. Heading south from BH3DD034 toward the intersection of the Maori Reef with the Hard-Up Reef, drilling is now complete for hole BH3DD038. Logging is nearly complete, with samples already in waiting for completion of assays at the laboratory. Similar mineralised zones as seen in BH3DD034 have been identified in the latest drilling and the Company is looking forward to publishing these results in due course. The mineralised system is open immediately to the north of BH3DD034 and it is with this understanding that a complimentary drillhole will be undertaken within this vicinity.

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.

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.

Home

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.

Home

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.

ECR Minerals #ECR – 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.

ECR Minerals #ECR – Highest grade Gold intercept yet revealed below Soil Anomaly at HR3, Bailieston

ECR Minerals plc (LON: ECR), the gold exploration and development company focussed on gold exploration in Australia, is pleased to provide an update on drilling at HR3 including the highest grade Gold intercept yet below the soil anomaly drilled by hole BH3DD027.

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: “A significant amount of work has gone into the drilling programme at HR3, and I am delighted that having seen encouraging and consistent gold grades in the assay results to date, today’s result has provided our best intercept yet. Our team hoped that the ground under Hard-Up Reef would reveal a solid result – and it didn’t disappoint!”

“I look forward to working with our new CEO Andrew Haythorpe and Geologist Adam Jones as we build the results from BH3DD027 into the Maori Anticline target model.”

ECR CEO Andrew Haythorpe added: “As the new CEO my work for the next few weeks entails getting my feet under the proverbial desk. Regardless, given my previous experience as geologist and mining company CEO, along with David and Adam I am very pleased to see the HR3 prospect return the best assay result to date. I look forward to speaking with shareholders as the year progresses.”    

HIGHLIGHTS:

  • ECR Minerals has received the highest single assay result to date from the drilling at Bailieston with 0.2m @ 52.5 g/t Au from 126.3m depth in hole BH3DD027 (reported drilled thickness).
  • Hole BH3DD027 represents assays received from the first of two holes initially drilled into the Hard-Up Reef underneath a previously identified soil anomaly.
  • Drilling continues in HR3 (Bailieston) strengthening the Maori Anticline target model with multiple narrow mineralised structures observed.

The following statements can be referenced to the following link, a plan showing the location of hole BH3DD027 and recently drilled targets awaiting results;

https://www.ecrminerals.com/images/2022/Fig1_220421

BH3DD027

ECR Minerals announced the identification of four soil anomalies respectively named (A, B, C and D) in the vicinity of the projected Scoulers and Hard-Up Reef lines (see RNS dated 23rd December 2021 “Bailieston (HR3) Soil Sampling Strengthens Mineralisation Model”). Two initial drillholes (BH3DD026 and BH3DD027) were drilled underneath soil anomaly ‘A’. Results for hole BH3DD027 have now been received with the results pending for BH3DD026.

ECR is both pleased and proud to report the best gold intercept to date at Bailieston with 0.2m @ 52.5 g/t Au from 126.3m depth (BH3DD027). This intercept is supported by lower grade foot-wall and hanging-wall mineralisation located between 124 metres and 127 metres drilled depth. Geological interpretation confirms this mineralisation coincides with the Hard-Up Reef. Visible Antimony sulphide (Stibnite) is also present within the shear zone. The best intercept of 52.5 g/t Au ties in with a laminated quartz vein with a stibnite-sulphide shear zone grading at 1.76 g/t Au. All anomalous grades are reported in Table 1 below.

Although mineralisation between 124 metres and 127 metres has a represented drilled width of 3 metres, the low-dip angle of mineralisation to the drill core represents the true width of mineralisation at approximately 0.79 metres, demonstrating that at least some of the mineralisation at HR3 will likely be of a high-grade, narrow-vein style gold deposit.

Table 1. Summary of drill intercepts containing reportable levels of gold greater than 0.1 g/t Au for BH3DD027 (*highlights in bold).

BH3DD027

From To Grade (g/t Au) Interval (m) Comment
35.7 36.4 0.41 0.7
49.8 50.8 0.19 1
65 65.75 0.23 0.75
88.2 89 0.43 0.8
124 124.6 0.13 0.6
124.6 125 0.58 0.4
125 125.6 0.51 0.6 Start of mineralised zone
125.6 125.9 0.47 0.3
125.9 126.3 1.76 0.5 Shear Zone with visible Stibnite
126.3 126.5 52.50 0.2 Visible Stibnite (Hard-Up Reef)
126.5 127 1.57 0.5 End of mineralised zone

 

CHANGE OF ASSAY METHOD

Visible Stibnite (Antimony Sulphide) has been observed to occur in some of the drillholes into the Maori Anticline. As gold has been the primary mineral of interest, earlier assay results from the drilling have not been analysed for the Antimony content. Until recently, the preferred assay method has been to leach the bulk 2 kg drill sample using a cyanide solution. This is followed by fire assay of the residual tails from the solution, thereby tracing any potential undissolved coarser gold particles. With the increasing importance of Stibnite, the Company has refined the assay method to include such metals as Antimony. Additionally, all samples will have an initial 50g fire assay with only bulk leaching amendable to samples that show trace gold levels. This will save costs and speed up results without compromising quality of the assay.

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 confirming our understanding of the Maori Anticline and how the main Reef systems consist of narrow stibnite-sulphide veining propagating up through the fold. Recently drilled BH3DD034 suggests gold mineralisation is still open along strike to the north. Assay results from this drilling will assist in follow-up drilling as needed.

Currently, the drilling programme is designed to investigate Scoulers Reef and associated soil anomalies which run along strike, parallel to the Maori Anticline. Some of the drillholes will be extended to target the Maori Anticline at depth to aid geological interpretation.

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

Blytheweigh 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 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, 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.

ECR Minerals #ECR – Visible Gold Identified at HR3. Progress of Drilling Continues into the Maori Anticline Target

ECR Minerals plc (LON: ECR), the gold exploration and development company focussed on gold exploration in Australia, is pleased to announce a current update on drilling at HR3 including results and geological interpretation completed for BH3DD012, current drilling activities and future drilling plans within EL5433.

ECR Minerals plc has 100% ownership of the Bailieston Project (EL5433) and contains the gold prospects known as HR3, Cherry Tree, Blue Moon and Black Cat. The projects are operated under ECR Minerals plc Australian wholly owned subsidiary Mercator Gold Australia Pty Ltd (“MGA”).

ECR Chairman David Tang commented: ““A significant amount of work has gone into the drilling programme at HR3, and I am delighted to note that following on from the results at hole BH3DD019, we continue to see encouraging and consistent gold grades in BH3DD012 and visible gold in BH3DD034. Importantly we continue to build on our understanding of the Maori Anticline and the regional gold trend ahead of an infill drilling programme.”

“I know Adam and his team are excited by the potential at the Blue Moon prospect, and I look forward to reporting back to you once work commences there.”

“Finally, regarding our search for a new CEO, I am pleased to report we have shortlisted three candidates and we will provide updates to the market in due course, as required.”

HIGHLIGHTS:

  • Diamond drill hole BH3DD012 was drilled 100m south and parallel to the previously announced hole (BH3DD019). Five mineralised zones have been identified and correlated to the Maori Anticline.
  • The best intercepts within each of the five mineralised zones include 0.8m @ 3.81 g/t Au (Zone 1); 0.5m @ 3.87 g/t Au (Zone 2); 0.5m @ 4.26 g/t Au (Zone 3); 0.6m @ 2.25 g/t Au (Zone 4) and 1m @ 0.51 g/t Au (Zone 5).
  • Drilling and sampling of holes BH3DD032, BH3DD033, BH3DD034 and BH3DD035 are currently in progress to follow up best gold intercepts found in BH3DD019. Visible gold has been identified in BH3DD034 at 149.5m downhole.

 

This announcement is written to reference to the following three figures:

Fig 1: BH3DD012 geological section:

https://www.ecrminerals.com/images/2022/fig1_BH3DD012.png

 

Fig 2: Location and plan of recent drilling with current status, HR3:

https://www.ecrminerals.com/images/2022/fig2_Current_drillplan_HR3.png

 

Fig 3: BH3DD034 visible gold

https://www.ecrminerals.com/images/2022/fig3_BH3DD034_vg.png

 

OVERVIEW OF BH3DD012

On 30 February 2022, ECR announced that a series of four holes (BH3DD012, BH3DD014, BH3DD020 and BH3DD021) had been drilled perpendicular to the trend of reef lines within the HR3 Goldfield to aid interpretation of the main faults and folding with known mineralisation. The Company has now received gold results for hole BH3DD012.

BH3DD012 was collared in 100m to the south and drilled parallel to adjacent hole BH3DD019. Geological interpretation is now revealing the main rock-type groupings and the style of mineralised veins that are associated with the Maori Anticline. MGA’s geology team has correlated the veins identified in BH3DD012 to hole BH3DD019, giving further understanding to the structural architecture of the HR3 Goldfield.

Five zones of mineralisation have been identified from hole BH3DD012. (Fig 1)

Zone 1 features a quartz stockwork zone hosted within a massive brittle sandstone rock unit that has a drilled thicknes of 2.7 metres. Best intercepts were 0.8m @ 3.81 g/t Au (from 57.3m) and 0.7m @ 3.32 g/t Au (from 59.3m)

Zone 2 can be linked to the Scoulers Reef structure represented by orthogonal veining within a sheared zone. Mineralisation is broad at a drilled width of 9.3 metres. Two of the highest intercepts included 1m @ 3.75 g/t Au (from 72m) and 0.5m @ 3.87 g/t Au (from 73.8m)

Zone 3 is represented by narrow bedding-laminated sulphidic veins at a drilled depth of 175.5m which returned 0.5m @ 4.26 g/t Au. The veins are hosted with a planar-laminated siltstone which correlates well to the same lithology in hole BH3DD019. Given this good correlation, it is highly probable Zone 3 veins match to the best intercept of 0.5m @ 9.5 g/t Au in BH3DD019 at 99.9m.

Zone 4 consists of a fault with linking stockwork quartz veining. Best result was 0.6m @ 2.25 g/t Au (from 191m drilled depth).

Zone 5 is a minor occurrence of bedded laminated carbonate veining at 255.6m drilled depth. Traces of stibnite (antimony sulphide) were identified in adjacent veining. This zone has only elevated gold, the best result being 1m @ 0.51 g/t Au (from 255.6m).

BH3DD012 was drilled to a depth of 302.1m. The dip angle of bedding, sedimentary depositional indicators (called younging) have located the hinge zone of the Maori Anticline at an approximate depth of 220m down the drill hole. The geology team is currently interpreting the projection of this hinge to the earlier drilling (BH3DD009) near surface.

Table 1. Summary of drill intercepts containing reportable levels of gold greater than 0.1 g/t Au for BH3DD012 (*highlights in bold). Mineralised ‘Zones’ shown in Fig 1.

BH3DD012

From To Grade (g/t Au) Interval (m) Zone
38 39 0.18 1
41 41.5 0.11 0.5
41.5 42.5 0.41 1
44.5 45.5 0.18 1
48.5 49.5 0.14 1
49.5 50 0.62 0.5
50 50.5 1.54 0.5
50.5 51 0.8 0.5
51 52 0.74 1
52 53 0.33 1
53.7 54.2 1.16 0.5
54.2 54.5 1.38 0.3
54.5 55.5 0.15 1
55.5 56.5 0.28 1
56.5 57.3 0.53 0.8
57.3 58.1 3.81 0.8 ZONE 1
58.1 58.9 1.25 0.8 ZONE 1
58.9 59.3 0.32 0.4 ZONE 1
59.3 60 3.32 0.7 ZONE 1
65 66 0.16 1
66 67 0.82 1
67 68 1.22 1 ZONE 2 (Scoulers Reef)
68 69 1.77 1 ZONE 2 (Scoulers Reef)
69 70 2.28 1 ZONE 2 (Scoulers Reef)
70 71 1.32 1 ZONE 2 (Scoulers Reef)
71 72 1.39 1 ZONE 2 (Scoulers Reef)
72 73 3.75 1 ZONE 2 (Scoulers Reef)
73 73.8 1.24 0.8 ZONE 2 (Scoulers Reef)
73.8 74.3 3.87 0.5 ZONE 2 (Scoulers Reef)
74.3 74.8 1.14 0.5 ZONE 2 (Scoulers Reef)
74.8 75.3 0.73 0.5 ZONE 2 (Scoulers Reef)
75.3 76.3 0.45 1 ZONE 2 (Scoulers Reef)
76.3 76.9 0.15 0.6
76.9 77.4 0.31 0.5
77.4 78 1.02 0.6
78 79 0.98 1
79.5 80 0.28 0.5
80 81 0.24 1
81 81.7 0.74 0.7
81.7 82.3 1.06 0.6
82.3 83 0.77 0.7
126.8 127.3 0.26 0.5
128 129 0.13 1
133.25 134 0.14 0.75
134 135 0.24 1
136 137 0.29 1
138 139 0.19 1
139 140 0.24 1
144 145 0.13 1
145 146 0.17 1
151.1 151.9 0.15 0.8
151.9 152.3 0.13 0.4
175 175.5 0.13 0.5
175.5 176 4.26 0.5 ZONE 3
176 177 0.21 1
183.3 183.8 0.18 0.5
187.3 188.3 0.13 1
189.2 190 0.11 0.8
190 190.3 0.11 0.3
190.3 191 0.16 0.7
191 191.6 2.25 0.6 ZONE 4
191.6 192.2 0.82 0.6
192.2 193 0.7 0.8
193 194 0.38 1
213.5 214 0.17 0.5
215 216 0.18 1
219 220 0.69 1
241.3 242 0.2 0.7
242 242.7 0.27 0.7
248 248.5 0.13 0.5
248.5 249.1 0.14 0.6
249.1 249.8 0.28 0.7
250.5 251 0.14 0.5
251.7 252 0.14 0.3
252 252.8 0.24 0.8
252.8 253.8 0.11 1
253.8 254.6 0.22 0.8
254.6 255.6 0.23 1
255.6 256.6 0.51 1 ZONE 5
256.6 257.6 0.33 1

 

BH3DD034-VISIBLE GOLD IDENTIFIED

Drilling of BH3DD019 showed narrow arsenic-stibnite veining emanating from the Maori Anticline. ECR is currently following up these targets by drilling four additional supporting holes (BH3DD032, BH3DD033, BH3DD034 and BH3DD035). Hole BH3DD033 and BH3DD034 has been completed, now awaiting sampling. BH3DD034 has drilled through a narrow-laminated vein 50mm wide showing a visible speck of coarse gold around 1mm in diameter (Fig 3). This is a typical example of a narrow ‘nuggetty’ vein and shows the low probability of drilling such mineralisation. The vein is supported by a broad halo of hydrothermal sulphide. This hole is in the process of being geologically logged in detail and sampled and further updates will be provided in due course.

FUTURE PLANS

ECR is now starting to see the benefits of utilising its own diamond drill rig operated by an ‘in house’ drill team. The team have been drilling an average of c.35m of good quality core per day, reducing the drill meterage rate compared to contracting out the work.

Since the beginning of 2022, the Company has drilled holes into the northern limits of the Maori Reef and drilled two initial holes under the southernmost soil anomaly underneath the Hard-Up Reef. The geological team is also eagerly awaiting outstanding assay results for drilling completed into the Maori and Hard-Up Reef intersection, which will tie in with the results of this announcement.

Upon completion of the complimentary holes to BH3DD019, we plan to move the drill rig up on the low ridgeline to begin initial drilling into the Scoulers Reef and under the other soil anomalies identified along this ridge. Locations of the planned drilling along with recent drilling is shown in Fig 3. Ultimately, we expect that the outcome of the diamond drilling will provide a detailed understanding of the relationship of veining to structures and the possible control on gold deposition within the veins. This is all preparation work for infill RC drilling at a later date.

Additionally, planning is well under way to follow up the RC drilling completed in 2019 over the nearby “Blue Moon” prospect, also on EL5433.

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
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

Blytheweigh 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 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, 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

ECR Minerals #ECR – Drilling Continues to Extend Gold Mineralisation within the Maori Reef

ECR Minerals plc (LON: ECR), the gold exploration and development company focussed on gold exploration in Australia, is pleased to provide results from hole BH3DD019, drilled into the north end of the Maori Reef within HR3 at Bailieston, Victoria, Australia.

ECR Minerals plc has 100% ownership of the Bailieston Project (EL5433), which is operated under its Australian wholly owned subsidiary Mercator Gold Australia Pty Ltd (“MGA”).

ECR Chairman David Tang commented: “I am delighted to report that our team of geologists headed by Adam Jones are reporting some very encouraging gold grades at hole BH3DD019. Furthermore, the epizonal mineralisation identified through the drilling work and assay results correlates with nearby deposits at Costerfield, Nagambie and Whroo mine and this is assisting with our understanding of the regional gold trend as we work towards identifying a possible ore resource.”

“As outlined below, following COVID-19 delays the assay results are now starting to flow back to us, and I look forward to announcing further results in the coming weeks.” 

SUMMARY:

  • Assays from one drill hole (BH3DD019) now received. This is the deepest hole drilled under the north end of the Maori Reef and it has identified four mineralised zones. Best intercepts include 0.5m @ 9.5 g/t Au from 99.9m, 0.8m @ 4.96 g/t Au from 100.4m, 0.3m @ 4.59 g/t Au from 143.4m and 0.6m @ 6.15 g/t Au from 231.5m.
  • Geological logging of visible stibnite in holes drilled into the Maori Reef also correlates well with expectations of reportable gold.
  • Stibnite, arsenopyrite and gold mineralisation collectively identifies with an ‘epizonal’ style of mineralisation which is typical of the nearby deposits such as Costerfield, Nagambie and Whroo. 

BH3DD019

Hole BH3DD019, drilled into the Maori Reef at the northern limits of the historical gold workings was part of a series of 4 holes (including BH3DD012, BH3DD014, BH3DD020 and BH3DD021), designed to crosscut the HR3 goldfield to aid interpretation and identify the main faults and folding that is associated with gold mineralisation. Staffing issues at the laboratory due to COVID-19 outbreaks have resulted in slower than expected drilling reports and data over the new year period, but we are pleased to report that ECR is now starting to receive assay results from these overdue drillholes. To date BH3DD019 have been received, 3 holes are awaited.

A visual reference to the following geological notes regarding BH3DD019 is provided in figure 1:

https://www.ecrminerals.com/images/2022/Fig1.jpg

BH3DD019 was drilled due east at a dip of -58° from surface. Drilling ended at a depth of 279.5m. Geological logging of bedding has revealed a broad inclined hinge zone located around 120 metres down hole. The hinge correlates well to the inferred anticline zone which hosts the Maori Reef, and our hinge projections back up to the surface will become targeted in follow-up drilling. Two zones featuring an arsenic and antimony high within laminated quartz in faulted ground returned some of the best results including 0.5m @ 9.5 g/t Au from 99.9m followed by 0.8m @ 4.96 g.t Au from 100.4m depth. A similar zone was intersected on the east side of the hinge point where assays returned 0.3m @ 4.59 g/t Au from 143.4m. This last interval also included a visible solid stibnite vein with a drilled thickness of approximately 10cm wide.

A parasitic flexure causing two smaller hinges within the steeply east dipping bedding at 220m hosts perpendicular massive quartz veins ‘PMQ’ with interconnecting quartz stockworks. The PMQ veins form a fan pattern around the first hinge zone. Unfortunately, this hinge only carries low reportable levels of gold. Between the two parasitic hinges, a bedding laminated vein ‘BLQ’ carrying visible stibnite returned 0.6m @ 6.15 g/t Au from 231.5m downhole. The up-dip projection of this vein is not revealed at the surface and will be followed up with future drilling.

EPIZONAL MINERALISATION

Mineralisation formed at temperatures below 300°C often with associated arsenic and antimony sulphides visibly presented in drill core as arsenopyrite and stibnite is defined as ‘Epizonal’. MGA geologists are frequently recording such sulphides below the oxide level within the Maori Reef, a phenomenon that has also prompted the team to investigate how nearby gold deposits are mineralised. This investigation has shown that narrow stibnite veins with arsenopyrite have also been identified by adjacent tenement holders at the Costerfield Mine, the historic Nagambie Mine open pits and more recently at the historic Whroo Mine by ‘Mawson Gold’.

FUTURE PLANS

Geological interpretation of BH3DD019 is now providing an insight into the bigger picture of mineralisation within the HR3 Goldfield. With the assay results now flowing in more regularly, we are anticipating more targets to follow up. Although the drilling work undertaken to date is still very much in its infancy, the Directors note that no drilling campaign of this complexity and detail has ever been undertaken in this area previously. The Company’s objective is to identify the trends of gold mineralisation or ‘shoots’ and once completed, ECR expect to be able to complete an accurate assessment in regard to a possible ore resource.

ECR also recently reported that drilling into the Maori Anticline at the intersection of the Hard-Up Reef was continuing. These holes have been recently completed and assay results are awaited. Again, once completed the Directors anticipate these results will help towards identifying the gold trend.

The Company has also drilled two holes (BH3DD026 and BH3DD027) to investigate the ground underneath soil ‘anomaly A’ that was reported from soil sampling results in December 2021. Assays are also pending for these drillholes. The soil sampling also revealed three other anomalies associated with the central reef known as ‘Scoulers’ that are still to be followed up with drilling once the initial Maori Reef drilling is completed.

Table 1. Summary of drill intercepts containing reportable levels of gold greater than 0.1 g/t Au for BH3DD019 (*highlights in bold). Mineralised ‘Zones’ shown in figure 1.

BH3DD019

From To Grade (g/t Au) Interval (m) Zone
5.6 6.4 0.22 0.8
22.3 22.7 0.2 0.4
26.3 27 0.17 0.7
38.3 39.4 0.31 1.1 ZONE 1
39.4 39.9 0.39 0.5 ZONE 1
39.9 40.3 0.74 0.4 ZONE 1
47 48 0.12 1
48 49 0.49 1
49 50 0.14 1
51.8 52.3 0.17 0.5
52.3 52.9 0.26 0.6
54 55 0.14 1
55 56 0.27 1
56 56.8 0.28 0.8
56.8 57.5 0.15 0.7
57.5 58 0.11 0.5
58 58.7 0.2 0.7
58.7 59.2 0.16 0.5
60 61 0.11 1
61 61.5 0.23 0.5
61.5 62 0.23 0.5
76.3 76.6 0.11 0.3
90.5 90.9 0.12 0.4
92.7 93.4 0.12 0.7
93.4 94.3 0.2 0.9
95.3 96.2 0.14 0.9
96.2 96.7 0.25 0.5
96.7 97.5 0.22 0.8
97.5 98.4 0.76 0.9 ZONE 2
98.4 98.7 2.46 0.3 ZONE 2
98.7 99.2 3.16 0.5 ZONE 2
99.2 99.9 1.66 0.7 ZONE 2
99.9 100.4 9.5 0.5 ZONE 2
100.4 101.2 4.96 0.8 ZONE 2
101.2 101.7 0.64 0.5 ZONE 2
101.7 102.7 0.43 1 ZONE 2
102.7 103.4 0.13 0.7
103.4 104.4 0.18 1
105.4 106.4 0.11 1
107.4 108.4 0.12 1
116.2 116.7 0.32 0.5
124.1 124.9 0.11 0.8
131.6 132.3 0.2 0.7
132.7 133.4 0.19 0.7
137.1 137.8 0.11 0.7
142.7 143.4 0.22 0.7 ZONE 3
143.4 143.7 4.59 0.3 STIBNITE VEIN
143.7 144.5 0.2 0.8
164.1 164.4 0.19 0.3
165 165.6 0.13 0.6
165.6 166.2 0.76 0.6
166.2 167 0.14 0.8
173.4 174 0.46 0.6
197.6 198.4 0.13 0.8
215.8 216.4 0.15 0.6
222.1 223 0.18 0.9 Hinge Stockwork
223 224 0.11 1 Hinge Stockwork
224 225 0.14 1 Hinge Stockwork
225 226 0.29 1 Hinge Stockwork
226 227 0.38 1 Hinge Stockwork
227 228 0.35 1 Hinge Stockwork
228 229 0.21 1 Hinge Stockwork
231.5 232.1 6.15 0.6 ZONE 4
232.1 232.5 0.2 0.4 ZONE 4
232.5 232.9 0.94 0.4 ZONE 4
232.9 233.4 0.12 0.5
234 234.6 0.13 0.6
234.6 235.5 0.15 0.9
241 241.7 0.11 0.7

 

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
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

Blytheweigh 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 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, 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.

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