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ECR Minerals #ECR – Creswick Exploration Licence Renewal Application EL006184

ECR Minerals plc (LON: ECR), the gold exploration and development company focussed on gold exploration in Australia, is pleased to announce that it has submitted an application to renew current exploration license EL006184 for an extended five-year term.

EL006184 covers land owned by one of ECR Minerals plc 100% owned Creswick projects and is operated by its subsidiary company Mercator Gold Australia Pty Ltd (“MGA”).

ECR Chairman David Tang commented: “We are pleased to report that ECR has completed the application to renew Creswick exploration license EL006184 for an extended five-year term. Together with our recently approved licence EL006907 covering the Ballarat East Nerrina Goldfield, this area provides access to the Dimocks Main Shale strike zone, believed to host the source veining for much of the alluvial gold within the Creswick deep lead alluvial system.”

“I look forward to providing further updates once our drill team and equipment return to Creswick”

SUMMARY:

  • Initial tenure of EL006184 expired on the 28th December 2021. The application renewal for the tenement for a further five-year term has been submitted.
  • MGA has first right in securing and applying to renew the ground covered by EL006184.

EL006184 has been a pivotal part of MGA’s exploration strategy and activities during 2021. Work undertaken includes the first ever diamond drill program conducted within the area, in addition to which MGA owns land and property at 35 Brewing Lane, Springmount sited within the tenement area. Exploration is scheduled to continue within MGA’s Creswick tenement area and will include further work along the Dimock Main Shale strike zone which is central to EL006184.

The renewal of EL006184 also complements recently approved licence EL006907 sited south and along strike of the mineralised belt towards Ballarat, Victoria, which the directors believe hosts the source veining for much of the alluvial gold within the Creswick deep lead alluvial system. Once the renewal is granted, the Company expects to return to recommence work at Creswick and within the new license area after completion of current operations at Bailieston, Victoria.

Further updates will be provided when the application has been processed.

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 – Bailieston Drilling Update For Holes BH3DD010 and BH3DD011

ECR Minerals plc (LON: ECR), the gold exploration and development company focussed on gold exploration in Australia, is pleased to provide updated results from the initial first drill section across the ‘Maori’ Anticline target 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: “We are pleased with the follow-up results for holes BH3DD010 and BH3DD011 at HR3. Our understanding of the Maori Anticline, along with the extent and types of mineralisation, has grown exponentially, and our team on the ground continues to work to a tight schedule and maintain our aggressive drilling programmes. Further assay results and data are due very shortly, and I look forward to sharing those with our shareholders as they become available.”

“As our search for a new CEO continues, our committee of directors, including myself, Trevor Davenport and Adam Jones continue to drive the business forward. I would also like to stress that we are all easily contactable should shareholders and investors have any queries during this transition period”

SUMMARY:

  • Assay results now received for holes BH3DD010 and BH3DD011, completing the first diamond drill section across the upper part of the ‘Maori’ Anticline.
  • Highest results are from hole BH3DD011 with 0.4m @ 4.65 g/t Au from 39.8m and 0.5m @ 6.97 g/t Au from 68m down-hole.
  • Three mineralised zones within each drill hole identified.
  • Structural observations from drill core show how dilational gold / antimony mineralised zones form at favourable intersections between NW and NE striking veins.

Assay results for a further two diamond holes across the first drilled section of the upper part of the ‘Maori Anticline’ target have now been received. These results follow-up ECR’s previous announcement released on the 29/11/2021 in regards to hole BH3DD009 where an initial successful result of 0.7m @ 28.06 g/t Au from 52.7m was recorded. Holes BH3DD010 and BH3DD011 were subsequently drilled on the same azimuth, but at two different angles to test the up and down dip continuance of the grade in BH3DD009.

The following link to the interpreted geological section for holes BH3DD009, BH3DD010 and BH3DD011 relates to the detailed information in the paragraphs below.

https://www.ecrminerals.com/images/2021/ECRsection.jpg

BH3DD010

Hole BH3DD010 was collared with a dip of -67 degrees. Three mineralised ‘zones’ have been drilled through with the best intercept of 0.9m @ 1.18 g/t Au from 64.4m down-hole. This intersection is part of a broader anomalous halo as shown as ‘Zone 2’ on the accompanying figure 1. Drilling passed through the Maori Anticline where drilling ended at a depth of 111.2m.

BH3DD011

BH3DD011 was drilled with a dip of -50.5 degrees from horizontal to a final depth of 102.2m. Three mineralised zones were also passed. The upper ‘Zone 4’ is a hanging-wall system to the Maori Reef. Interpretations from orientated drill core show this to be a linking quartz-splay system between the Hard Up and Maori Reef. Best intersection in Zone 4 was 0.4m @ 4.65 g/t Au from 39.8m depth.

The Maori Reef was intercepted as expected around 55m depth where a fault zone with complex folding on the immediate hanging wall was identified. This zone contained no significant intercepts. A broad quartz mineralised ‘Zone 5’ was encountered at 60.1m depth. Best intersection within Zone 5 was 0.5m @ 6.97 g/t Au from 68m depth. This intercept is supported by a lower grade halo with other results of 1m @ 2.68 g/t from 65.4m and 0.7m @ 2.05 g/t Aufrom 69m. Structural logging of veining through this zone shows the vein to strike NNE with a dip direction to the NW which correlates well to the cross-vein known as the Hard Up Reef. Further drilling passed a faulted system ‘Zone 6’ which returned a best grade of 0.5m @ 1.09 g/t Au. Drilling ended at 102.2m depth on the eastern dipping sediments of the anticline.

MINERALISATION MODEL REVEALED

Drilling of BH3DD009, BH3DD010 and BH3DD011 shows three broad mineralised zones that are accompanied by visual evidence of stibnite (a sulphide of Antimony). Relating to figure 1, orientated drill core shows that quartz mineralisation is bedding parallel in Zone 1 and Zone 2, oblique to bedding in Zone 5 and hosted in brittle faults between Zone 3 and Zone 6. Best intercepts from all three holes suggests the best gold developments have formed where structures are favourable to dilate adjacent to structures that compress and pinch as seen at 55m depth in BH3DD011. Stockwork veining and oblique structures to bedding also relate spatially to elevated gold values as seen in Zone 5 in BH3DD011 and the stockwork veining in BH3DD009. At the goldfield level of scale, there is a close spatial development of such structures within the acute angle of intersecting NNW and NE striking veining where a ‘wrench’ or dilational ‘jog’ develops. This pattern is also observable and outlined in plan view by the numerous historic mined trenches and pits across the HR3 goldfield. Information gleaned from drilling this first drill section may also apply to other similar lineation trends across the field.

Table 1. Summary of drill intercepts containing reportable levels of gold greater than 0.1 g/t Au for BH3DD010 and BH3DD011 (*highlights in bold)

BH3DD010

From (m) To (m) Grade (g/t Au) Interval (m) ‘Zone’
51.05 51.6 0.14 0.55 Zone 1
52.8 53.8 0.37 1 Zone 1
53.8 54.7 0.16 0.9 Zone 1
57.5 58.5 0.15 1 Zone 1
63.6 64.4 0.2 0.8 Zone 2
64.4 65.3 1.18 0.9 Zone 2
66.8 67.7 0.31 0.9 Zone 2
69.1 70 0.2 0.9 Zone 2
70 70.9 0.15 0.9 Zone 2
71.9 72 0.13 0.1 Zone 2
100 101 0.22 1 Zone 3
103.8 104.6 0.16 0.8 Zone 3

 

BH3DD011

From (m) To (m) Grade (g/t Au) Interval (m) ‘Zone’
2.5 2.8 0.11 0.3
35.2 36.2 0.37 1
39.8 40.2 4.65 0.4 Zone 4
40.2 41.2 0.39 1 Zone 4
55.5 56 0.13 0.5
56 56.5 0.19 0.5
57.7 58.2 0.11 0.5
60.1 61.1 0.11 1 Zone 5
61.1 62.1 0.11 1 Zone 5
62.1 62.7 0.12 0.6 Zone 5
62.7 63.7 0.17 1 Zone 5
63.7 64.7 0.13 1 Zone 5
64.7 65.4 0.24 0.7 Zone 5
65.4 66.4 2.68 1 Zone 5
66.4 67.2 0.91 0.8 Zone 5
67.2 68 1.81 0.8 Zone 5
68 68.5 6.97 0.5 Zone 5
68.5 69 0.96 0.5 Zone 5
69 69.7 2.05 0.7 Zone 5
69.7 70 0.86 0.3 Zone 5
73 74 0.11 1
82.5 83.5 0.11 1
88.4 89.1 0.16 0.7 Zone 6
89.1 90 0.21 0.9 Zone 6
90 90.7 0.71 0.7 Zone 6
90.7 91.2 1.09 0.5 Zone 6
91.2 91.6 0.35 0.4 Zone 6
94 95 0.13 1
95 95.8 0.67 0.8

 

FORWARD LOOKING STATEMENTS

With these results logged, MGA continues to drill the upper end of the Maori Reef system towards the north. First impressions of drill core continue to show visual indicators of mineralisation of pyrite, stibnite and to a lesser extent arsenopyrite. We will continue to report these results to the markets in the coming weeks.

As stated on the previous HR3 drilling update on November 29th 2021, MGA continued to engage the services of the same contract rig that completed drilling at Creswick at hole EL006148. MGA also decided to utilise its larger rig to complete orientated drill core over the broader HR3 goldfield. The contract drilling is now complete. Logging is still in progress for this drilling campaign, with initial results scheduled for release shortly. Follow-up drilling will commence using ECR’s owned and operated ‘Midas’ drill rig where appropriate.

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) 161 832 2174
Nominated Adviser
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 – Approval of Two New Exploration Tenements in Victoria, Australia

ECR Minerals plc (LON: ECR), the gold exploration and development company focussed on gold exploration in Australia, is pleased to announce the granting of two gold exploration tenements in Victoria, Australia.

ECR Minerals plc has 100% ownership of the Bailieston Project (EL5433) and the Creswick Project (EL006184), both of which are currently undergoing intense exploration by ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd (“MGA”).

ECR Chairman David Tang commented: “On behalf of the board and our team on the ground in Victoria, I am very pleased to announce that we can confirm the award of exploration licenses EL006907 and EL007484. In particular, the granting of license EL006907 linking Creswick to Ballarat East-Nerrina goldfield was something our former CEO Craig Brown always viewed as a key step in developing our Creswick interests and our understanding of the Dimocks Main Shale. With the data and knowledge base we have amassed now, I know our team on the ground, headed by Adam Jones are very keen to start work in the new area and bring Craig’s vision to fruition.

Licence EL007484 is an important addition to our enlarged footprint to the east of Victoria in the Tambo region. With a second drilling machine due to arrive any day now, I look forward to reporting further exploration progress as our intensive exploration and drilling campaigns expand and develop.

Our board are actively engaged in a search for a new CEO, and I look forward to reporting back with developments here in the near term.”  

SUMMARY:

  • Two new tenements recently granted for undertaking exploration work within Victoria, Australia. ‘MGA’ now has a total of 523 km2 of ground granted for exploration for gold within Victoria.
  • One tenement (EL006907) is strategically placed between the historical rich Ballarat East-Nerrina goldfield and the current exploration licence ‘EL006148’. This tenement is host to the continued strike of the Dimocks Main Shale (“DMS”) horizon, believed to host the source veining for much of the alluvial gold within the Creswick deep lead alluvial system.
  • The second tenement (EL007484) is situated 50km north of Bairnsdale in the east of the state of Victoria encompassing the alluvial fields of Swifts Creek and the Mid to Upper reaches of the Tambo River.

EL006907 (Creswick)

MGA is pleased to report that Exploration licence 006907 was granted on 26/11/2021 for a period of five years, with the added possibility of an extension, provided expenditure requirements, (a minimum of $160,050 AUD over the five-year term), are met. The licence lies midway between the current Creswick lease of EL006184 and the Ballarat East and Nerrina goldfields, with a total ground area of 81km2.

EL006907 contains the southern strike extension of the DMS horizon believed to host the source rocks to the abundant historical alluvial gold production within the region. Although the true figures of alluvial gold produced are not known, the Geological Survey of Victoria estimates the region has produced in excess of one million ounces of gold, with most of the production occurring between the period of 1852-1930. Around 4km of DMS strike length is believed to be within this tenement.

Records of past exploration show that no known extensive drilling or geochemical surveys have been undertaken within the tenement.

EL007484 (Tambo North)

Licence EL007484 was also granted on 26/11/2021 for a five-year term. The total land area covers 374 km2, and covers the historic alluvial goldfields of the Tambo River and Swifts Creek. Exploration work for both precious metals and base metals has been undertaken previously, added to which the region is known for intrusives that may offer opportunity for discovering new deposits.

The figure showing location of both tenements are shown in the link below;

https://www.ecrminerals.com/images/fig1_mga_new_tenements_12_21.jpg

FORWARD LOOKING STATEMENTS

We are delighted that the long-awaited license grants for these two tenements have been awarded to MGA. MGA is still awaiting the final grant of EL006713 (Creswick) and EL007486 (Tambo South), which are both adjacent to the newly approved tenements. If approved, MGA will have exploration licenses covering the majority of the ground linking Ballarat and Creswick – an exciting and challenging prospect given the historical abundance of alluvial gold and under-explored nature of the region. Initially, the company intends to define geochemical patterns related to known alluvial gold dispersion to help define the optimum method to locate the ‘blind’ gold ‘shoots’ the central Victorian region is known for. Best outcomes will be followed up by drilling using MGA owned and operated equipment. The MGA team are very well aware that many of the gold deposits at Creswick are ‘spotty’ and coarse in nature, but this consideration is always in balance with the potential rewards.

MGA will continue to prioritise EL5433 (Bailieston) into the new year as this tenement is reaching maturity. Staff will be transitioning into exploration within the Creswick area which will include follow-up work on the recently drilled EL006184. Exploration opportunities are also available on the companies owned land also within EL006184.

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) 161 832 2174
Nominated Adviser
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 six licence applications outstanding including one licence application lodged in eastern Victoria. (Tambo gold project). MGA is currently exploring 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 – Initial Success of ‘Phase two’ Drilling at HR3

ECR Minerals plc (LON: ECR), the gold exploration and development company focussed on gold exploration in Australia, is pleased to update shareholders on its initial successful results from recently commenced ‘phase 2 drilling’ 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: “We are pleased with the excellent results from hole BH3DD009 at HR3. As this intensive drilling campaign continues, so our understanding of the Maori Anticline continues to grow. With a clear picture of the HR3 goldfield structure starting to emerge, it is tragic that Craig Brown is no longer with us to see these latest developments. I do know that all employees and directors at ECR and Mercator Gold are working hard to ensure that Craig’s vision for ECR’s flagship projects come to fruition. We look forward to sharing further assay results and data with shareholders as they are released by the labs.”

“It is our intention to appoint a new CEO in due course, and in this regard our search has already begun. In the interim a committee of directors, including myself, Trevor Davenport and Adam Jones will continue to drive the business forward.”     

SUMMARY:

  • Following receipt of the necessary permissions, drilling has re-commenced within the HR3 Goldfields utilising two diamond drill rigs.
  • Initial results have been received with the first hole completed, (BH3DD009) returning 0.7m @ 28.06g/t Au from 52.7m depth from the Maori Reef.
  • Gold values correlate well to high arsenic and antimony (stibnite) pXRF values – proof of their importance as pathfinder elements within the Bailieston area.
  • Drilling highlights the importance of the Maori Anticline as an important up-coming target.

 

PHASE TWO DRILLING HR3

Whilst drilling at Creswick and Cherry Tree ‘HR4’ mid-year, MGA submitted plans to government authorities requesting permission to drill from additional sites within the HR3 goldfield area. After meeting regulatory requirements, permission was granted early October 2021. Once drilling at nearby Cherry Tree and at the Creswick tenements had completed, drill rigs were mobilised to HR3 to commence phase two drilling. Drilling is being undertaken by two diamond drill rigs, one by a contractor and the second rig being MGA’s owned and operated ‘Midas’ drill rig. The contract rig is currently drilling broad holes perpendicular to the strike of the main mineralised systems throughout the HR3 goldfield and has approximately 250m of drilling to complete. Follow-up drilling is being undertaken by the ‘Midas’ drill rig and will continue to the end of the year.

A total of twelve drill sites have been approved across HR3. The sites have been well planned to ensure optimum drill coverage across the remainder of the goldfield. Particular focus will be directed at gathering structural data by use of diamond drilling to reconstruct the central and eastern mineralised systems known as the Scoulers and Maori Reefs. Extensions to the north and south of the goldfield boundaries will also be drilled. Drilling will also delineate structures drilled by previous historic percussion drilling during the 1980’s period.

To date, a total of 1478m of ‘phase two’ drilling has been completed at HR3. Between the two drill rigs, good meterage has been drilled (up to 80m per shift). Geological logging and interpretation will continue to the end of the year. A summary of drilling locations and their progression is shown in the link below;

Figure 1

BH3DD009

Phase two drilling commenced with BH3DD009 across the central portion of the Maori Reef. Drilling was targeted to follow up the down-dip of an historical Reverse Circulation drillhole intersection which returned 1m @ 11 g/t Au. BH3DD009 was successful in drilling mineralisation between 47m and 56.7m depth and the best intersection was 0.7m @ 28.06 g/t Au from 52.7m depth.

Drill core is routinely analysed for pathfinder elements during geological logging using an in-house pXRF unit to trace pathfinder elements associated with gold mineralisation. pXRF results are not used for reporting resources, only for tracing the pathways for gold mineralisation fluids. Plotting of antimony (Sb) and arsenic (As) pXRF results correlates spatially with the initial high-grade gold intercepts. A similar zone of high Sb and As has been identified in other drillholes on the same section as BH3DD009 and on the projection of the Maori Reef structure (see fig 2). Gold assay are pending for these drillholes (BH3DD010 and BH3DD011) and whilst the XRF results can not be relied upon, we are anticipating good results.

The following is a link to a section sketch showing the main geological features of BH3DD009 and the spatial association of antimony and arsenic.

Figure 2

MAORI ANTICLINE

Drilling and subsequent 3D modelling of drillholes BH3DD005, BH3DD006 and BH3DD007 earlier this year revealed a moderate south plunging fold to exist underneath and along strike of the Maori Reef workings. This has been termed the Maori anticline. Observations show the historic mined portion of the Maori Reef coincides with the projected up-dip of the anticline near surface. The Maori Reef has been intersected midway between BH3DD009 and the historical workings by an historic percussion drill hole named BLP136.  BH3DD009 intercepted 1m @ 34 g/t Au from 44m depth. These observations show the significance of the anticline. The drill rig is currently being set up to test this unexplored gap of the Maori anticline.

A long-section looking east through the anticline is shown in the link below;

Figure 3

Table 1. Summary of initial drill intercepts containing reportable levels of gold greater than 1 g/t Au for BH3DD009

BH3DD009

From (m) To (m) Grade (g/t Au) Interval (m)
47 48 0.6 1
48.2 48.8 0.40 0.6
48.8 49.1 1.70 0.3
49.1 49.6 2.49 0.5
50.5 51.5 0.61 1
51.5 52.4 1.08 0.9
52.4 52.7 1.90 0.3
52.7 53.4 28.06 0.7
53.4 54.2 1.14 0.8
54.2 54.6 0.93 0.4
54.6 55.1 0.46 0.5
55.1 55.7 0.77 0.6
55.7 56.7 0.25 1
57.7 58.7 0.17 1
58.7 59.2 0.14 0.5
59.2 60.2 0.43 1

 

 

FUTURE WORK

The initial results for drill holes BH3DD010 and BH3DD011 are due shortly. Samples from these two holes are currently being processed at the laboratory, and we expect to deliver regular drilling updates in the run up to the Christmas period. While these results are still early in the campaign, the identification of the Maori anticline and its association with high-grade gold mineralisation will now be the main focus for the next drilling campaign.

Early observations of HR3 drill cores are revealing exciting structures that appear to correlate across the HR3 goldfield. Re-construction will be key to identifying gold mineralisation patterns. A 10cm solid antimony vein was observed in recently drilled BH3DD019 around 143m depth, and is on trend to be on the northerly strike of the Maori Reef at depth. MGA’s Bendigo-based geology department will continue to gather and assimilate project data.

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) 161 832 2174
Nominated Adviser
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 has earned 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 – Alan Green talks to CEO Craig Brown

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

~ Latest Bailieston & Creswick drilling updates, ‘mineral shoots’ etc

~ Property acquisitions – strategy, evolution into gold producer etc

~ N Queensland & license application progress

~ Danglay Gold project, Philippines

~ Upcoming milestones for shareholders to watch out for

ECR Minerals #ECR – Property purchase within the Creswick License Area

ECR Minerals plc (LON: ECR), the gold exploration and development company focused on Australia, is pleased to announce that its 100% owned Australian subsidiary, Mercator Gold Holdings Pty Ltd (“MGA”), has purchased a property at 35 Brewing Lane, Springmount. The property is located within the Company’s existing 100% owned Creswick license area.

Highlights:

  • The property consists of 16 acres, within the 45 square kilometre Creswick license area in Victoria, Australia
    • The property is held over three titles
  • The property will provide a base for activities across the license area as ECR advances its drilling programmes and, when appropriate will be the site for development for the mine decline
  • The purchase price of the property is US$500,000, which is settled in two tranches, consisting of a US$50,000 deposit which has already been paid, with the balance to be paid on 27 September. The purchase will be funded by the Company’s existing cash resources. Currently the Group has £4,222,940 in cash after paying the deposit.  This is the equivalent of USD 5,824,631.

Craig Brown, Chief Executive Officer commented: “Following the positive progress of the drilling programme at Creswick, we are pleased to announce the purchase of the Brewing Lane property which sits in our existing license area. The property will provide the Company with an operational base and, in future, can be developed as a site for the decline access to existing, and potential, vein mineralisation.

“Earlier this year, we reported strong results from the [ongoing/current] drilling programme at the Creswick license which has continued to delineate gold mineralisation along strike, with all assayed holes returning gold. Of particular significance are holes CSD003 and CSD004 which returned 9.93 g/t and 23.58 g/t gold, respectively.”

“I remain enthused by the pace of developments at Creswick, Bailieston and our other assets, and look forward to receiving the remaining assay results at Creswick and reporting on progress.”

The property was purchased from a private individual.

MARKET ABUSE REGULATIONS (EU) No. 596/2014

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (MAR). Upon the publication of this announcement via Regulatory Information Service (RIS), this inside information is now considered to be in the public domain.

FOR FURTHER INFORMATION, PLEASE CONTACT:

 

ECR Minerals plc Tel: +44 (0) 20 7929 1010
David Tang, Non-Executive Chairman
Craig Brown, Director & CEO
Email:

info@ecrminerals.com

Website: www.ecrminerals.com
WH Ireland Ltd Tel: +44 (0) 161 832 2174
Nominated Adviser
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 and Creswick 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 has earned 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 Craig Brown talks to Steve Darling at Proactive Investors

ECR Minerals #ECR CEO Craig Brown talks to Steve Darling at Proactive Investors. Craig provides an update on its current aggressive drill programs in Victoria, Australia at its flagship Bailieston and Creswick projects.

Craig also discusses the objectives of the drill campaigns and the arrival of a third multi-purpose rig which is due on site shortly. Brown also discusses recent developments in the Philippines as well as funding and offers up his thoughts on the gold price and what it means for the company’s projects.

ECR Minerals #ECR – Initial Results From The First Ever Drilling Campaign at Cherry Tree (HR4) Identify Anticlinal Hinge Anomaly

ECR Minerals plc (LON: ECR), the gold exploration and development company focussed on gold exploration in Australia, is pleased to announce initial results from its first drilling campaign at Cherry Tree (“Historic reserve number 4”, “HR4”, “Cherry Tree”) at the Bailieston Project in central Victoria, Australia.

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

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

“Following the purchase of our second drilling rig, ECR’s strong funding position and growing local infrastructure ensures the Company can continue to maintain a series of aggressive drilling campaigns across the Victoria Goldfields. We have also made a small bit of history; ECR’s Australian subsidiary MGA completed the first ever diamond drillhole at Cherry Tree (HR4) and I am delighted to report a highly significant early result there from hole BCTDD003, both in terms of the geological setting and the gold mineralisation identified.”

“As the data continues to arrive, our senior geologists are working hard to ascertain structural geological interpretations. It is widely accepted that culminations in folded strata cut by shears and faults are favoured locations for deposition of thrust-reef style lode gold deposits, and with the cross-striking faults at this anticline filled with quartz-gold-bearing fluids in Holes BCTDD001, BCTDD002 and BCTDD003, there is encouraging early evidence. We are keen to see what the next raft of data will reveal so we can determine our next exploration steps.”

HIGHLIGHTS:

  • Hole BCTDD001, the first ever diamond drilling work undertaken at HR4 has delineated an anticlinal hinge striking through the centre of the goldfield.
  • Holes BCTDD002 and BCTDD003 were drilled to define cross striking faults. Drilling continues using orientated diamond drill-core for structural geological interpretation
  • Hole BCTDD003 shows broad zones of low-grade gold mineralisation, often associated with anomalously high Arsenic (pXRF readings). The best intercept includes 0.5m @ 11.02 g/t Au from 98.85m depth.

PROGRESS AT CHERRY TREE

Hole BCTDD001, the first ever diamond drillhole completed at HR4 has delineated an anticlinal hinge striking through the centre of the goldfield. This anticline forms the geological backbone of mineralisation at Cherry Tree where cross-striking faults to this anticline have filled with quartz-gold-bearing fluids. Holes BCTDD002 and BCTDD003 were drilled to define such cross striking faults.

MGA continues to drill orientated diamond core to gain structural geological information, and recently drilled holes BCTDD004 and BCTDD005 were designed to test the interpreted position of multiple cross-striking faults. Geological logging of BCTDD004 and BCTDD005 is currently in progress.

Hole BCTDD003 shows broad zones of low-grade mineralisation, often associated with high Arsenic (pXRF readings). The best intercept includes 0.5m @ 11.02 g/t Au from 98.85m depth.

DETAILS OF ALL INTERCEPTS CONTAINING REPORTABLE LEVELS OF GOLD GREATER THAN 0.1 G/T – HOLES BCTDD001-003

BCTDD001
From

(m)

To

(m)

Grade Au g/t Interval

(m)

BCTDD001 No significant intercepts 0.1 g/t Au
Results greater than 0.1 g/t Au
From

(m)

To

(m)

Grade Au g/t Interval

(m)

BCTDD002 65.6 66.1 1.08 0.5 Associated with high Arsenic pXRF
BCTDD002 87 88 1.14 1 Associated with high Arsenic pXRF
BCTDD002
Other broad mineralised zones results noted
From

(m)

To

(m)

Grade Au g/t Interval

(m)

BCTDD002 68.3 69.3 0.11 1 Broad LG zone associated with
BCTDD002 69.3 70.3 0.22 1 higher arsenic. 4m @ 0.19 g/t Au
BCTDD002 70.3 71.3 0.2 1
BCTDD002 71.3 72.3 0.24 1
BCTDD003
Results greater than 0.1 g/t Au
From

(m)

To

(m)

Grade Au g/t Interval

(m)

BCTDD003 74.9 75.5 1.11 0.6 0.6m @ 1.11 g/t Au
BCTDD003 79.7 80 1.01 0.3 0.3m @ 1.01 g/t Au
BCTDD003 98.85 99.35 11.02 0.5 0.5m @ 11.02 g/t Au

 

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.

OR FURTHER INFORMATION, PLEASE CONTACT:

ECR Minerals plc Tel: +44 (0)20 7929 1010
David Tang, Non-Executive Chairman
Craig Brown, Director & CEO
Email:

info@ecrminerals.com

Website: www.ecrminerals.com
WH Ireland Ltd Tel: +44 (0)161 832 2174
Nominated Adviser
SI Capital Ltd Tel: +44 (0)1483 413500
Broker

Nick Emerson

 

Novum Securities Limited  

Broker

Jon Belliss

                                            Tel: +44 (0)20 7399 9425

 

Brand Communications

Public Relations                                                                 Tel: +44 (0) 7976 431608

Alan Green

 

NOTES AND FULL INTERCEPT SUMMARY

 

BCTDD001
From

(m)

To

(m)

Grade Au g/t Interval

(m)

BCTDD001 No significant intercepts 0.1 g/t Au
Results greater than 0.1 g/t Au
From

(m)

To

(m)

Grade Au g/t Interval

(m)

BCTDD002 65.6 66.1 1.08 0.5 Associated with high Arsenic pXRF
BCTDD002 87 88 1.14 1 Associated with high Arsenic pXRF
BCTDD002
Other broad mineralised zones results noted
From

(m)

To

(m)

Grade Au g/t Interval

(m)

BCTDD002 68.3 69.3 0.11 1 Broad LG zone associated with
BCTDD002 69.3 70.3 0.22 1 higher arsenic. 4m @ 0.19 g/t Au
BCTDD002 70.3 71.3 0.2 1
BCTDD002 71.3 72.3 0.24 1
BCTDD003
Results greater than 0.1 g/t Au
From

(m)

To

(m)

Grade Au g/t Interval

(m)

BCTDD003 74.9 75.5 1.11 0.6 0.6m @ 1.11 g/t Au
BCTDD003 79.7 80 1.01 0.3 0.3m @ 1.01 g/t Au
BCTDD003 98.85 99.35 11.02 0.5 0.5m @ 11.02 g/t Au
Other broad mineralised zones results noted
From

(m)

To

(m)

Grade Au g/t Interval

(m)

BCTDD003 28 29 0.24 1 1.3m @ 0.24 g/t Au
BCTDD003 29 29.3 0.23 0.3
BCTDD003 31 32 0.22 1 LG zone 20.3m @ 0.35 g/t
BCTDD003 32 32.7 0.23 0.7
BCTDD003 32.7 33.2 0.9 0.5
BCTDD003 33.2 34.2 0.94 1
BCTDD003 34.2 35.1 0.16 0.9
BCTDD003 35.1 36.1 0.1 1
BCTDD003 36.1 36.5 0.48 0.4
BCTDD003 36.5 37.5 0.53 1
BCTDD003 37.5 38.5 0.34 1
BCTDD003 38.5 39 0.36 0.5
BCTDD003 39 40 0.6 1
BCTDD003 40 41 0.55 1
BCTDD003 41 42 1.13 1
BCTDD003 42 42.5 0.17 0.5
BCTDD003 42.5 43.5 0.14 1
BCTDD003 43.6 44.5 0.13 0.9
BCTDD003 44.5 45.1 0.29 0.6
BCTDD003 45.1 46.1 0.11 1
BCTDD003 46.1 47.1 0.21 1
BCTDD003 47.1 48.1 0.14 1
BCTDD003 48.1 49.1 0.16 1
BCTDD003 49.1 50.1 0.21 1
BCTDD003 50.1 51.4 0.11 1.3
BCTDD003 54.1 55.1 0.37 1 LG zone 17m @ 0.21 g/t Au
BCTDD003 55.1 56.1 0.23 1
BCTDD003 56.1 57.1 0.1 1
BCTDD003 57.1 58.1 0.1 1
BCTDD003 58.6 59.6 0.28 1
BCTDD003 59.6 59.9 0.48 0.3
BCTDD003 59.9 60.4 0.5 0.5
BCTDD003 60.4 60.9 0.16 0.5
BCTDD003 60.9 61.4 0.41 0.5
BCTDD003 61.4 62 0.74 0.6
BCTDD003 62 62.5 0.14 0.5
BCTDD003 62.5 63.2 0.33 0.7
BCTDD003 63.2 63.8 0.15 0.6
BCTDD003 63.8 64.5 0.13 0.7
BCTDD003 64.5 65.3 0.1 0.8
BCTDD003 65.3 66.1 0.12 0.8
BCTDD003 66.1 66.7 0.13 0.6
BCTDD003 66.7 67.4 0.13 0.7
BCTDD003 67.4 68.4 0.15 1
BCTDD003 68.4 69 0.16 0.6
BCTDD003 69 70 0.1 1
BCTDD003 70 70.6 0.11 0.6
BCTDD003 70.6 71.6 0.15 1
BCTDD003 89.6 89.8 0.82 0.2 11m @ 1.14 g/t Au
BCTDD003 89.8 90.05 1.4 0.25 (incl 0.5m @ 11.02 g/t Au from 98.85m)
BCTDD003 90.05 90.9 0.54 0.85
BCTDD003 90.9 91.9 0.31 1
BCTDD003 91.9 92.4 1.17 0.5
BCTDD003 92.4 93.4 0.1 1
BCTDD003 93.4 94.4 0.1 1
BCTDD003 94.4 94.9 1.65 0.5
BCTDD003 94.9 95.4 0.48 0.5
BCTDD003 95.4 96.4 0.34 1
BCTDD003 96.4 96.9 0.26 0.5
BCTDD003 96.9 97.8 0.15 0.9
BCTDD003 97.8 98.4 0.1 0.6
BCTDD003 98.4 98.85 0.12 0.45
BCTDD003 98.85 99.35 11.02 0.5
BCTDD003 99.35 100 0.27 0.65
BCTDD003 100 100.6 0.15 0.6

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 and Creswick 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 has earned 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 Geologist Adam Jones sees huge potential at Creswick as aggressive drill program advances

ECR Minerals PLC’s #ECR geologist Adam Jones speaks to Proactive soon after the explorer announced drilling at its Creswick project in the Victoria Goldfields, Australia has identified more gold mineralisation along the strike zone in a southerly direction from the first drill hole.

To date, seven holes have been completed, with four holes fully assayed and all hitting multiple and significant zones of quartz and all intercepting gold, with the best results so far from CSD003 where there were no historic workings.

ECR Minerals #ECR – Ongoing Drilling Success at Creswick Gold Project Provides a Deeper Understanding of Dimocks Main Shale Prospectivity

ECR Minerals plc (LON: ECR), the gold exploration and development company focused on Australia, is pleased to announce a drilling update from the Creswick Gold project (the “Project”), in the Victoria Goldfields, Australia. The Project is 100%-owned by ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd (“MGA”).

HIGHLIGHTS

  • Diamond drilling along the Dimock Main Shales (DMS) trend has continued to delineate gold mineralisation along the strike zone in a southerly direction from the first drill hole at CSD001. This is outlined in detail under ‘Technical Information’ and at Figure 1 and Figure 2 below.
  • To date six holes have been completed, four holes have been fully assayed, with final gold assays now received for holes (CSD001, CSD002, CSD003 and CSD004).
  • Drill holes have tested near the centre and near the southern end of the tenement to gain a full overview of the prospectivity of the trend across the whole tenement. The drilling in the centre of the tenement (CSD003 & CSD004) tested a portion of the system with no historic mining.
  • All holes drilled to date have hit multiple and significant zones of quartz and all holes with assays returned have intercepted gold, with the best results from CSD003 drilled where there were no historic workings.
  • Assay results received include; 1m @ 4.78 g/t Au from hole (CSD002) and 0.95m @ 9.93 g/t and 0.95m @ 23.58 g/t Au both respectively from (CSD003).
  • Diamond drilling has just been completed for holes CJD001 and CSD005, confirming structures hosting quartz, parallel to and within the Dimocks Main Shales, are persistent along strike to the south of CSD001 and CSD002. Assays results will be provided following receipt and interpretation.

Craig Brown, Chief Executive Officer, commented:

“I am pleased to report continued positive progress for the Creswick drill programme. The aggressive drilling campaign undertaken by our contractors at Creswick continues apace, and the consequential raft of core data and intelligence processed by the core shed in Bendigo is now providing our geological team with a much deeper understanding of the prospectivity of the trend across our license areas.

I am also pleased to report that assay results from hole CSD001, the first drill hole of the campaign, show we have intersected gold, a factor that is particularly significant considering that CSD001 is the first diamond hole into the DMS in the entire tenement. 

We are delighted with Holes CSD003 and CSD004, which have provided our best gold intersections yet on this 2021 diamond drilling programme of 9.93g/t and 23.58g/t gold. The work undertaken in the current campaign has enabled us to locate and confirm the position of the DMS, and increase our understanding of the types of folding and faulting within the system to assist with ongoing drill targeting.

To date 6 drill holes have been completed successfully and safely at the Project, with 4 holes now assayed and all containing gold. 

Overall, the assay results to date have delivered the outcome we were all hoping for, and I would like to put on record my thanks to Adam Jones, Dr. Rod Boucher and the drilling and core shed teams for their hard work that has delivered a considerable amount of data and information in a very short space of time. I look forward to reporting to the market with regard to further assay results, and their geological significance following analysis.”

TECHNICAL INFORMATION

Note: Quartz develops in the thicker shales, particularly where intercepted by east-dipping faults.  As previously hypothesised by the company, the geology is complex and some work is needed to fully understand the faulting and folding.

Preliminary interpretations of the latest three holes are provided below.

All quartz zones show variable sericite-carbonate-chlorite alteration but are low in sulphides.

CSD002

Following on from the success of CSD001, hole CSD002 was drilled from the same site, but at a steeper dip to CSD001. CSD002 was collared 10m to the west of CSD001 and drilled to test projected parasitic folding and an interpreted low angle fault hosting gold mineralisation as seen at 131.9m in CSD001. CSD002 drilled through the projected fault with associated significant quartz mineralisation at a depth of 108.5m. Assay results show this section of quartz to contain no significant gold mineralisation despite visual similarities to the gold-bearing quartz in the first hole. Drilling passed through further quartz and pyrite at a depth of 173.2m. Gold is present within this structure, with assays returning 1m @ 4.78 g/t Au from 173.1m. CSD002 was drilled to a final length of 215.2m.

Geological correlation between CSD001 and CSD002 shows gold mineralisation to have some spatial interplay between sub-vertical quartz veining and the offset of the low angle fault. The faulting and folding in the holes is complex and work is ongoing to fully map these out and better define targets.

Figure 1 showing the preliminary geological interpretation between CSD001 and CSD002:

https://mercatorgold.com.au/images/fig1_CSD002_210713c.jpg 

CSD003 and CSD004

CSD003 and CSD004 were drilled 900m on strike to the south from CSD001 and CSD002. This drill location has no known historical gold workings nearby, the closest workings being over 200m to the north.

CSD003 was collared in at a dip of -65 and drilled towards the east. The drillhole passed through multiple parasitic folds on a larger west dipping fold similar as noted in CSD001 and CSD002. Bedding parallel quartz with associated carbonate bleaching was passed through at a depth of 83.2m. A second, parallel zone of quartz was passed through at 89.05m depth. These two quartz intersections returned 0.95m @ 9.93 g/t Au from 84.2m and 0.95m @ 23.58 g/t Au from 89.05m. Drilling continued to a depth of 191.9m. These intersections represent the true width of the gold quartz veins.

CSD004 was collared as a scissor hole to CSD003 to test for the westward continuation of the main structural zone and to drill beneath veins outcropping down the adjacent hillslope. Structures hosting quartz mineralisation were drilled through at 114m and at 124.7m depth. Veining was found to have widths of up to 1 metre and consisted of chlorite and carbonate bleaching. Only one assay returned anomalous gold; 1m @ 0.18 g/t Au from 125.7m. CSD004 ended at 207.1m

With the success of CSD003, there are plans for additional drillholes to follow the continuity of the high gold mineralisation.

Figure 2 showing geological interpretation section through CSD003 and CSD004:https://mercatorgold.com.au/images/fig2_CSD003_004_210714.jpg

 

Table 1 Intercepts from holes CSD002, CSD003 and CSD004

HOLE ID EASTING       (GDA Zone 54) NORTHING (GDA Zone 54) Dip AZIMUTH (True North) TOTAL DEPTH (metres) AVERAGE GRADES OF MINERALISATION*
CSD002 759261 5854636 -65 101 215.2 -1m @ 4.78 g/t Au from 173.1m

-0.6m @ 0.22 g/t Au from 65.9m

-0.35m @ 0.39 g/t Au from 179.85m

CSD003 759244 5853704 -65 096 191.9 -0.95m @ 23.58 g/t Au from 89.05m

-0.95m @ 9.93 g/t from 84.2m

 

CSD004 759253 5853702 -67 281 207.1 1m @ 0.18 g/t Au from 125.7m

*no other intercepts returned significant levels of gold.

FURTHER INFORMATION 

A total of 6 drillholes have been completed to date on the Creswick gold project. Out of these, assays have been returned from 4 of the holes and each of these contain gold, including the scissor hole (CSD004) that was drilled in the opposing direction away from the main structural zone to test peripheral structures. In particular two of these show high-grades (CSD001 CSD003). Current drilling activity is focussing on assessing the strike extent of quartz mineralisation associated with a series of shallow historical gold workings along the Dimocks Main Shale trend between sites CSD001-CSD002 and CSD003-004. There is a strike length of 900m between these two initial drill sites that has not been drilled before. The Directors believe Mercator Gold Australia (MGA) is the first company in history to undertake such mineral exploration in this region to such a high level, and plans are underway to cover the shallow, up-dip extensions of drilled quartz reefs by soil geochemistry.

 

Results are pending for recently drilled CJD001, which is our most southerly drilled hole along strike to date (2km south of CSD001-CSD002). Significant quartz veining has been intersected within this hole.

Visual evidence of the limited extent of hard-rock gold workings and the mapped extent of eroded alluvial gold workings leading up to the Dimocks Main Shale area provide a practical demonstration to show the potential strike length of this gold system (see announcement 25/9/18). Furthermore, (as announced on 23/03/21), MGA has applied for additional licenses EL006713 and EL006907 on the southern extension of this vein system to the south.

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 (AIG). 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
Craig Brown, Director & CEO
Email:

info@ecrminerals.com

Website: www.ecrminerals.com
WH Ireland Ltd Tel: +44 (0)161 832 2174
Nominated Adviser
SI Capital Ltd Tel: +44 (0)1483 413500
Broker

Nick Emerson

 

Novum Securities Limited

Broker

Jon Belliss

                                              Tel: +44 (0)20 7399 9425

 

Brand Communications

Public Relations                                                                               Tel: +44 (0) 7976 431608

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 eight licence applications outstanding including two licence applications lodged in eastern Victoria. (Tambo gold project). MGA is currently drilling at both the Bailieston and Creswick 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 Queesnland, 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 has earned 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 resources. 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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