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ECR Minerals #ECR – Drilling Progress Report for the Blue Moon Prospect at Bailieston, Victoria

ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce an update on the drilling progress at the Blue Moon Prospect, Victoria. This announcement contains the results for holes BBMDD005 to BBMDD008, which has tested the western extension to Blue Moon, identified in a previous drilling campaign completed in 2019 (see RNS dated 1st May 2019 here).

Drilling of associated holes BBMDD010 and BBMDD011 is currently underway in the same area (focusing on ECR’s best RC drilling intercept to date was completed in the 2019 campaign); and while drilling has been completed for associated drill hole BBMDD009, the sampling work is currently still underway.

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 wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd (“MGA”).

ECR CEO Andrew Haythorpe commented: “Despite some logistical problems faced by the drill team in completing the three remaining diamond drill holes (BBMDD009 to BBMDD011), I am pleased that results from the holes for the west strike extension are now in. While we intercepted the dyke rock and proved up mineralisation, which is encouraging, the Board are particularly keen to see the results and grades from holes BBMDD010 and BBMDD011, when drilling is completed. This drilling follows up the Company’s best RC drill intercept at Blue Moon to date. The results from this additional drilling should provide us with a complete in-detail overview for Blue Moon and complete the campaign there for this season.

The results from this final stage of drilling are expected to be received within the next few months and we look forward to updating shareholders at that time. In terms of next steps, our efforts will now be redirected to developing our assets on the ground at Creswick, Lolworth and Hurricane, along with an initial field visit to our Tambo license.”

HIGHLIGHTS

  • Results from the remaining four diamond drillholes designed to test for continuity of mineralisation to the west of previous drilling now received.
  • Best results include 0.5m @ 4.09 g/t Au from 155.2m and 0.25m @ 3.57 g/t Au from 161.3m (BBMDD006) and 0.5m @ 3.78 g/t Au from 210.8m and 0.3m @ 4.17 g/t Au from 215.3m in (BBMDD008).

Figure 1. Overview of diamond drilling completed to date, Blue Moon.

https://www.ecrminerals.com/images/2023/Fig1_230119_BBM.png

OPERATIONAL UPDATE

The Board announced its intention to test the westerly extent of the Blue Moon body following the successful drill intercepts from 2019’s RC Drilling program. A total of 1000m of diamond drilling was initially planned over 4 holes, and was subsequently expanded to 7 holes (see RNS dated 14th September 2022 here), and this drilling was completed just prior to Christmas, with results now received. An overview of drill intercepts from the campaign is shown in Figure 1 above.

Drilling throughout December 2022 took longer than anticipated with some maintenance required to the Company’s drill rig ‘Midas’, sustained wet weather and a pause in operations over the Christmas period (December 22nd to 9thJanuary 2023). Drilling of holes BBMDD006 and BBMDD007 struck broken (faulted) ground that also slowed the daily drill metres. Despite this, the team intercepted the Blue Moon dyke rock in all 4 drill holes. Gold mineralisation can be demonstrated to extend further to the west however given the low grades from these holes the Board have taken the view that a final decision regarding further drilling and exploration at Blue Moon will be made on receipt of the final results for holes BBMDD009, BBMDD010 and BBMDD011.

NEXT STEPS TO COMPLETE BLUE MOON CAMPAIGN FOR THIS SEASON

An additional campaign of three drill holes is now underway in the Blue Moon area. This includes drilling of holes BBMDD010 and BBMDD011 which is focused on the same area where ECR’s best RC drilling intercept to date was completed in 2019, and the Board expects that these results will determine the extent of the strike and width in this part of the Blue Moon prospect. The reason these holes were not completed first was largely due to logistics: the drill campaign took place on active farmland that requires timely drilling and Victoria has experienced one of the wettest winters on record which hampered initial drilling efforts during September and November. Associated hole BBMDD009 has also now been drilled underneath this zone, with sampling currently being completed and further updates will be provided in due course as appropriate.

Table 1. Drill intercepts containing reportable levels of gold > 0.11 g/t Au, holes BBMDD005-BBMDD008. Best grade intercepts highlighted in bold.

 

Hole ID From To Length Sample No Au g/t *Gram x mts
BBMDD005 118.5 119.3 0.8 HX4086 0.21 0.17
BBMDD005 122.8 123.8 1 HX4091 0.19 0.19
BBMDD006 142.9 143.9 1 HX4124 0.12 0.12
BBMDD006 144.85 145.6 0.75 HX4126 0.22 0.17
BBMDD006 145.6 146.3 0.7 HX4127 0.2 0.14
BBMDD006 153 154 1 HX4135 0.2 0.20
BBMDD006 155.2 155.7 0.5 HX4139 4.09 2.05
BBMDD006 155.7 156.7 1 HX4140 0.73 0.73
BBMDD006 160.7 161.3 0.6 HX4145 0.54 0.32
BBMDD006 161.3 161.55 0.25 HX4146 3.57 0.89
BBMDD007 154.4 155.1 0.7 HX4166 0.6 0.42
BBMDD007 155.3 156 0.7 HX4167 0.22 0.15
BBMDD007 156 157 1 HX4169 0.11 0.11
BBMDD007 157 157.6 0.6 HX4170 1.8 1.08
BBMDD007 157.6 158.2 0.6 HX4171 0.25 0.15
BBMDD007 158.2 158.6 0.4 HX4172 2.03 0.81
BBMDD007 158.6 159.4 0.8 HX4173 0.11 0.09
BBMDD007 159.4 160.5 1.1 HX4174 0.34 0.37
BBMDD007 160.5 161.5 1 HX4175 0.26 0.26
BBMDD007 163.4 164 0.6 HX4178 1.1 0.66
BBMDD007 164 165 1 HX4179 0.37 0.37
BBMDD008 210.8 211.3 0.5 HX4217 3.78 1.89
BBMDD008 212.85 213.25 0.4 HX4222 0.79 0.32
BBMDD008 213.25 213.5 0.25 HX4223 0.18 0.05
BBMDD008 213.5 213.8 0.3 HX4224 0.33 0.10
BBMDD008 213.8 214.8 1 HX4225 0.34 0.34
BBMDD008 214.8 215.3 0.5 HX4226 0.35 0.18
BBMDD008 215.3 215.6 0.3 HX4227 4.17 1.25

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

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.

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

Brand Communications Tel: +44 (0) 7976 431608
Public & Investor Relations
Alan Green

 

ABOUT ECR MINERALS PLC

ECR Minerals is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd (“MGA”) has 100% ownership of the Bailieston and Creswick gold projects in central Victoria, Australia, has six licence applications outstanding which includes one licence application lodged in eastern Victoria. (Tambo gold project). MGA is currently drilling at the Bailieston Blue Moon Project (EL5433) and undertaking geochemical exploration on the Creswick (EL6148) project and has an experienced exploration team with significant local knowledge in the Victoria Goldfields and wider region.

ECR also owns 100% of an Australian subsidiary LUX Exploration Pty Ltd (“LUX”) which has three approved exploration permits covering 946 km2 over a relatively unexplored area in Queensland, Australia.

Following the sale of the Avoca, Moormbool and Timor gold projects in Victoria, Australia to Fosterville South Exploration Ltd (TSX-V: FSX) and the subsequent spin-out of the Avoca and Timor projects to Leviathan Gold Ltd (TSX-V: LVX), Mercator Gold Australia Pty Limited has the right to receive up to A$2 million in payments subject to future resource estimation or production from projects sold to Fosterville South Exploration Limited.

ECR holds a 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

ECR Minerals #ECR – Encouraging Results from First Drill Hole of 2022 at Blue Moon, Victoria

ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce gold results from the first drillhole for 2022 (BBMDD004) completed at Blue Moon.

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: “I am pleased to report an encouraging grade from the first Blue Moon drill hole of the 2022 Blue Moon campaign. The programme has been designed to test for mineralised continuity of the Blue Moon gold bearing structure and we’re very encouraged by what we’ve seen so far. As previously stated, the drill site is located west of where the 2019 RC drill programme finished, so a decision on further drilling activity will be made once the results for the remaining holes are in.”

“ECR is entering a busy period as we complete our initial sampling campaign at Lolworth and finalise planning an initial field campaign at the Hurricane project in N Queensland. With soil sample lab results from Creswick also due, I am very much looking forward to reporting results of the next three Blue Moon holes along with our next steps to the market as and when we have them.”

HIGHLIGHTS

  • Results from the first diamond drillhole for 2022 are encouraging with 0.5m @ 7.29 g/t Au from 96.9m.
  • Drilling continues with three out of a planned four-hole program completed to date with samples awaiting results pending.

Figure 1. Best gold intercept with the BBMDD004 drill core is represented here;

https://www.ecrminerals.com/images/2022/fig1_Best_Intercept_BBMDD004.png

BBMDD004

BBMDD004 is the first diamond drillhole completed from an initial four-hole programme designed to test for mineralised continuity of the Blue Moon gold bearing structure. The drill site is located west of where the 2019 RC drill programme finished. Hosted within an east-west striking dyke formation, mineralisation at the Blue Moon prospect is characterised by alteration and bleaching of the dyke as seen in figure 1 above. The mineralised fluids responsible for the bleaching are also identified by the increase in the arsenic geochemistry and pyritic sulphidation. Geological logging to date has also identified that gold mineralisation is most evident in the vicinity of millimetre scale swarms of quartz-carbonate veinlets (figure 1). The best intercept in BBMDD004 of 0.5m @ 7.29 g/t Au from 96.9m downhole is associated with such veinlets. All reportable gold intercepts greater than 0.1 g/t Au from hole BBMDD004 are presented in Table 1 below.

NEXT STEPS

Drilling is now complete at three out of the four planned holes. Sampling has also been completed and we anticipate that the next results will be reported before the Christmas period. The drill core looks encouraging with typical bleaching and sulphides present in all holes drilled to date. Accordingly, the Directors have agreed that the final decision to continue with further drilling will be based on the pending drill results.

Table 1. Drill intercepts containing reportable levels of gold in BBMDD004

From (m) To (m) Grade (g/t Au) Interval (m) Gram x Metres
35 36 0.11 1 0.11
36 36.6 0.11 0.6 0.07
85.4 86.4 0.56 1 0.56
86.4 87.4 0.17 1 0.17
87.4 88 0.27 0.6 0.16
88 89 0.15 1 0.15
89 89.9 0.72 0.9 0.65
89.9 91 0.31 1.1 0.34
92 93 0.20 1 0.20
96.9 97.4 7.29 0.5 3.65
97.4 98.4 0.21 1 0.21

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

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
Brand Communications Tel: +44 (0) 7976 431608
Public & Investor Relations
Alan Green

ABOUT ECR MINERALS PLC

ECR Minerals is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd (“MGA”) has 100% ownership of the Bailieston and Creswick gold projects in central Victoria, Australia, has six licence applications outstanding which includes one licence application lodged in eastern Victoria. (Tambo gold project). MGA is currently drilling at the Bailieston Blue Moon Project (EL5433) and undertaking geochemical exploration on the Creswick (EL6148) project and has an experienced exploration team with significant local knowledge in the Victoria Goldfields and wider region.

ECR also owns 100% of an Australian subsidiary LUX Exploration Pty Ltd (“LUX”) which has three approved exploration permits covering 946 km2 over a relatively unexplored area in Queensland, Australia.

Following the sale of the Avoca, Moormbool and Timor gold projects in Victoria, Australia to Fosterville South Exploration Ltd (TSX-V: FSX) and the subsequent spin-out of the Avoca and Timor projects to Leviathan Gold Ltd (TSX-V: LVX), Mercator Gold Australia Pty Limited has the right to receive up to A$2 million in payments subject to future resource estimation or production from projects sold to Fosterville South Exploration Limited.

ECR holds a 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

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
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 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.

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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.

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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 – Investor Presentation and Strategic Update

The Company confirms that its board of directors will be attending the Proactive One2One Investor Forum this evening in London.

At the event, CEO Andrew Haythorpe will be discussing the Company’s exploration activities for its assets in Australia (as set out in the Company’s announcements). Andrew will also outline an updated strategic plan with a series of action points for the year ahead. These include:

  • The highly prospective Blue Moon prospect at the Bailieston gold project, plus the Maori Reef system at HR3.
  • Creswick gold project summary.
  • The gold potential of its 100%-owned licenses at Lolworth Range, Queensland, Australia and plans for boots on the ground in 2022.
  • A potential disposal of some of the Company’s non-core assets; and
  • The Company remains focussed on delivering the next multi-million ounce discovery.

Commenting CEO Andrew Haythorpe said; “Having undergone a significant transition during the first part of 2022, ECR Minerals is now at an exciting and pivotal stage in its evolution as a gold exploration company. Your board is confident that by actioning the disposals and strategy outlined above, we can streamline the business and ensure we have the resources in place to deliver on our objectives.”

“I look forward to updating our shareholders this evening as well as in the coming months, as we progress our drilling and exploration activities.”

Additional Disclaimer

Whilst the strategy outlined above includes a potential disposal this strategy is speculative in nature and there can be no guarantee that any disposal will occur. In addition whilst the potential disposals outlined above are considered by the Directors to be disposals of non-core assets they may, depending on any future negotiated terms, be considered a fundamental disposal of the Company pursuant to AIM Rule 15 of the AIM Rules for Companies. That being the case, any such disposal would be conditional on shareholder approval. Further updates will be provided in due course as appropriate.

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 – 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 CEO Interview – Alan Green talks to Craig Brown

Brand Comms CEO Alan Green talks to ECR Minerals #ECR CEO Craig Brown about the company’s flagship gold exploration projects in the heart of Australia’s Victoria Goldfields.

Craig talks about the recent placing to raise a further £2m with Novum Securities at 2.2p, and elaborates on the rationale behind it, before discussing the initial drilling results at the Bailieston Historic Reserve 3 prospect, that led to a fall in the share price despite identifying gold and gold mineralisation.

We look at slides from the current company presentation, and examine the scale of the operations and historic gold grades from the other Bailieston prospects including Blue Moon, Black Cat, HR4 (Cherry Tree, Cherry Tree South) and Yellow & Red Moon.

We move to Creswick and discuss the Dimocks Main Shale geological feature, the historical (2019) grades, license applications and JV implications and the upcoming drilling campaign. Craig then updates on the Tambo Project, and the connection with ECR’s Head Geologist Dr Rodney Boucher before we discuss the Bendigo HQ operation.

Alan and Craig then summarise by looking at the current company valuation vs. assets and work underway.

ECR Minerals #ECR – CEO Craig Brown talks to Alan Green

Brand Comms CEO Alan Green talks to ECR Minerals #ECR CEO Craig Brown about the company’s flagship gold exploration projects in the heart of Australia’s Victoria Goldfields. Taking slides from the latest company presentation, Craig talks about ECR’s wholly owned drill rig, HQ at Bendigo and the £4m funding and extra cash resources owned by the company. We look at the Creswick Gold project located close to the Ballarat Gold Mine before discussing this year’s production numbers at the Fosterville goldmine and how they might compare to assay results and ore grades currently being drilled at the Bailieston HR3 target. Craig looks at Black Cat, Cherry Tree and other targets at Bailieston, before we move onto the blue sky potential at the Tambo Project, and the connection with ECR’s Head Geologist Dr Rodney Boucher. We end with some takeaway points for investors.

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