Home » Posts tagged 'lolworth project'
Tag Archives: lolworth project
ECR Minerals #ECR – Potential for Rare Earth Minerals at the Lolworth Range Project, Queensland
ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce that investigations into the previous 2022 field season stream geochemistry results of the Lolworth Project, Queensland are showing potential for the presence of rare earth elements within the project area.
ECR Minerals plc has 100% ownership of three exploration tenements (EPM27901, EPM27902 and EPM27903), which covers the Lolworth Range, located 120km west of the famous gold district of Charters Towers. The project is being explored under ECR’s Australian wholly owned subsidiary Lux Exploration Pty Ltd (“LUX”).
HIGHLIGHTS
- A selected number of pan concentrate stream sediment samples from the 2022 field season are highly anomalous for Rare Earth Elements (REE), including Cesium (Ce), Lanthalum (La) and Yttrium (Y).
- The top ten values include anomaly readings such as (Ce greater than 6000 ppm (0.6%), (La greater than 2760 ppm) and (Y greater than 530 ppm)
- The top anomalous values of Ce, La and Y spatially correlate to a north east trend across the project with some of the best values coinciding with previously mapped intrusive centres.
- The Lolworth Project is showing a diverse range of exploration targets for Gold, Niobium-Tantalum and REE.
- Field work following up these targets is well underway.
CEO Andrew Haythorpe commented: “ECR’s Lolworth project is continuing to exceed our early expectations, and along with Gold, Niobium and Tantalum, the presence of key Rare Earth Elements adds yet another dimension to the scope and diversity of mineralisation in this region.”
“The mounting anecdotal evidence and volume of positive results continues to support the Board’s view that Lolworth could be host to significant Gold, Niobium, Tantalum and REE discoveries. I look forward to reporting the sample results from the latest fieldwork back to the markets as soon as possible”
(Figure 1) Map of the Lolworth Project showing the distribution of Ce, Y and La from pan concentrate sampling to date (May 2023) can be found here:
Figure 1: https://www.ecrminerals.com/images/2023/Fig1_REE_Potential_230524.png
RARE EARTH ELEMENTS
REE’s (Rare Earth Elements) are a group of 17 elements from the periodic table. While they are abundant within the Earth’s crust, discoveries of sufficient concentration of REE’s s to constitute an economically viable deposit are rare, with few currently mined sources in the western world. The most abundant REEs include Cerium (Ce), Neodymium (Nd) and Lanthanum (La). REEs, and these are becoming increasingly sought after as a result of their increased use in ‘green’ related technologies such as batteries, magnets in electrical motors, catalytic convertors and aircraft alloys.
REE RESULTS IN STREAM SAMPLING TO DATE
All pan concentrate stream sampling to date at Lolworth has been analysed using a four-acid digest that is aggressive in digesting most elements. A total of 33 elements including Gold have been analysed since sampling began in mid-2022, and to date ECR has detected Gold, Niobium and Tantalum from within the streams draining the Lolworth Range. Exceptional concentrations of Niobium and Tantalum have been recorded in streams draining a 10km long ridgeline just north of Gorge Creek. Previous announcements regarding these results can be found in ECR’s RNS from February 1 2023 here, and RNS from April 3 2023 here
Although the Company has not specifically analysed all stream samples for REEs, Cesium (Ce), Lanthalum (La) and Yttrium (Y) have been included as part of the 33 elements analysed. Results to date show high values of Ce, La and Y, all of which have been tabulated in Table One below. In summary, ten samples are greater than 0.6% in (Ce), over ten samples are greater than 2760 ppm in (La) and over ten samples are greater than 530 ppm in (Y).
REE CORRELATION BETWEEN NB-TA AND MAPPED INTRUSIVE CENTRES
It is important to note that a number of the high Ce, La and Y results spatially correlate and group together well (see Figure One above). The highest concentrations of these REEs trend in a north-east pattern across the project area, and while the reason for this geochemical trend has yet to be determined, it is hoped that the on-site geological mapping and sampling currently underway in the area will be able to provide some answers. Niobium and Tantalum (Nb-Ta) anomalies highlighted in previous announcements also correlate to some of the best REE results within the same region.
Although the Geological Survey of Queensland previously identified two intrusive areas of interest within the tenements (see Figure One above), the Lolworth Project area has not yet been mapped in detail. While the boundaries of these intrusives and their mineralogy has yet to be established, the Board is greatly encouraged by the fact that the highest concentrations of Niobium and Tantalum (including some of the REEs) are associated with these mapped intrusives. In particular a large intrusive identified by historic aerial mapping located in the extreme south-east of tenement EPM 27903 has been prioritised for exploration by the Board, and a number of sampling campaigns have been planned within this area to identify its potential for Gold, Nb-Ta and REEs.
NEXT STEPS
Pan concentrate stream sampling has been well underway for the last two weeks. Numerous follow-up samples have been taken around and to the north of the 10km Nb-Ta anomalous ridgeline, and these along with a number of additional soil samples scheduled for collection from the best anomalous ridgelines will be submitted for laboratory analysis. ECR’s Technical Director Adam Jones will be on the ground for the next two weeks to map and sample the areas showing the best anomalies to date. The Board look forward to reporting these results back to shareholders in the coming months.
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: | ||||
| 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 90% interest in the Danglay gold project; an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines, which has a 43-101 compliant resource. ECR also holds a royalty on the SLM gold project in La Rioja Province, Argentina and can potentially receive up to US$2.7 million in aggregate across all licences
ECR Minerals #ECR – Victoria Exploration and Queensland Project Updates
ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, announces updated results from gold exploration activities within licences EL006184 (Creswick), EL5433 (Blue Moon) and EL7484 (Tambo North), Victoria, Australia.
ECR Minerals plc has 100% ownership of all three exploration licences. ECR Minerals also holds 100% ownership of 6 other active exploration tenements along with 2 other exploration tenements in application with the State of Victoria, Australia.
ECR CEO Andrew Haythorpe commented: “While the Board are pleased to have finally received assays for our drill programs in Victoria, the latest results have not been as encouraging as we would have hoped.”
“On taking up the position as CEO last year, I have worked with management to ensure that low-cost work programmes, including soil geochemistry and mapping, have and will continue to be used to rank prospects prior to drilling. This approach will be applied to future campaigns in both Queensland and Victoria.”
‘’In contrast to the Company’s historical projects in Victoria, we believe the prospects identified for drilling and further mapping and sampling in Queensland are of superior width and consistency.”
“The outcome from work undertaken in Victoria over the coming months will be weighed against the results we anticipate seeing in Queensland and I look forward to reporting back on progress in the coming days and weeks.’’
HIGHLIGHTS
- Results from the recent western extension drilling at Blue Moon, Bailieston from two drill holes. Best results include 9m @ 0.56 g/t Au from 83.2m in hole BBMDD012.
- Drilling results from four diamond holes at Brewery Lane Creswick have been received which include 1m @ 4.29 g/t Au from 94.8m in hole CSD016.
- On-ground work within Eastern Victoria on EL7484 (Tambo) has commenced. The Board is encouraged by initial investigations.
- Exploration strategy transitions to North Queensland, Australia as field season commences.
DRILL RESULTS, BLUE MOON (BAILIESTON)
The most recent results from diamond drilling at the Blue Moon Prospect, Bailieston included the excellent result of 0.5m @ 17.77 g/t Au from 84.9m in hole BBMDD010 (see RNS from February 24 2023 here). A further two holes have now been drilled (BBMDD012 and BBMDD013) targeting the potential down plunge of the high-grade result in BBMDD010 and following the historic drill hole from the 2019 RC drill program. Unfortunately, the grade trend did not expand at depth, but still generated an excellent results of 9m @ 0.56 g/t Au from 83.2m drilled depth in hole BBMDD012. All reportable drill results from BBMDD012 and BBMDD013 are tabulated in Table 1 below. As the grades and widths of the Blue Moon Prospect within the drilled area downgraded the potential of an immediate commercial discovery, the drill rig was moved to Brewery Lane, Creswick.
CRESWICK (BREWERY LANE) DRILLING PROGRAM
A total of 4 drill holes were completed into the Slades and Spring Hill Reefs (lodes). The best results from this drilling campaign include 1m @ 4.29 g/t Au from 94.8m in hole CSD016 plus a full list of reportable gold intercepts from the 4 holes in Table 2 below. There is a considerable amount of additional work required to establish mineral resources at Creswick, including drilling at Mills Reef, Kuboid Hill and other prospects where soil sampling and rock chipping have shown the presence of gold (see RNS from April 17 2023 here, and RNS from May 2 2023 here). However, with global markets currently reflecting a lack of appetite for long-term investment into junior gold exploration companies the Board has decided to halt exploration drilling at Brewery Lane, Creswick for the remainder of this year and focus instead on exploration at ECR’s Queensland projects.
GOLD EXPLORATION IN EASTERN VICTORIA (TAMBO)
ECR has two tenements (EL007484 and EL007486) in the Tambo River region residing in the eastern part of Victoria state. EL007484 is currently active and license EL007486 is in the final stages of application. The field team have recently gained access to historical gold workings within EL007484 on private land, and with the landowner’s support for gold exploration a programme of rock chipping and pXRF mapping within quartz veins from underground exposures is now on-going. The field team are reporting good visual findings with plenty of sulphides seen within quartz veins. Initial results are expected shortly.
NEXT STEPS – EXPLORATION TRANSITION TO NORTH QUEENSLAND
Exploration has commenced at the Lolworth Project in North Queensland. The results from last year’s field season revealed numerous Gold, Niobium and Tantalum anomalies within many of the drainage lines within the Lolworth Range (see RNS from March 26 2023 here, and RNS from April 3 2023 here). Although the project is in the early stages of exploration, initial findings are already showing a larger footprint of diverse mineralisation and the potential to identify a commercial resource of not only Gold, but also for critical minerals. Using our now established process of detailed mapping and sampling, the Board plans to identify a number of drill targets at Lolworth by the end of this year.
The field team will also commence work at the Hurricane Project, also in North Queensland (see Hurricane project detail in RNS from October 27 2022 here). Work undertaken by previous explorers identified a number of quartz-breccia outcrops of varying widths carrying a broad range of Gold and Antimony values, (antimony is a valuable critical mineral). A 50km2 LIDAR aerial mapping survey has just been completed by ECR across the areas containing the quartz-breccia outcrops, which to date have not been drilled. LIDAR can assess the ground through the vegetation and allows the field team to quickly target and test breccia outcrops. ECR Geologists will be on the ground at Hurricane from June 2023 and the Board will report on progress in due course. Subject to satisfactory progress, the first drilling at Hurricane is scheduled for the second half of 2023.
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: | ||||
| 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 90% interest in the Danglay gold project; an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines, which has a 43-101 compliant resource. ECR also holds a royalty on the SLM gold project in La Rioja Province, Argentina and can potentially receive up to US$2.7 million in aggregate across all licences.
APPENDIX 1
Table 1. Drill intercepts containing reportable levels of gold (> 0.1 g/t Au) for the remaining drillholes at the Blue Moon Prospect, Bailieston, Victoria
| Drillhole | From (m) | To (m) | Interval (m) | Grade (g/t Au) |
| BBMDD012 | 83.2 | 84.2 | 1 | 0.18 |
| BBMDD012 | 84.2 | 85.2 | 1 | 0.12 |
| BBMDD012 | 85.2 | 86.2 | 1 | 0.16 |
| BBMDD012 | 86.2 | 86.8 | 0.6 | 0.32 |
| BBMDD012 | 86.8 | 87.4 | 0.6 | 0.66 |
| BBMDD012 | 87.4 | 88.4 | 1 | 0.49 |
| BBMDD012 | 88.4 | 89.4 | 1 | 0.97 |
| BBMDD012 | 89.4 | 90.05 | 0.65 | 0.31 |
| BBMDD012 | 90.05 | 90.85 | 0.8 | 0.18 |
| BBMDD012 | 90.85 | 91.2 | 0.35 | 0.12 |
| BBMDD012 | 91.2 | 91.65 | 0.45 | 0.14 |
| BBMDD012 | 91.95 | 92.25 | 0.3 | 1.26 |
| BBMDD012 | 93.25 | 94.35 | 1.1 | 0.28 |
| BBMDD012 | 94.35 | 95.2 | 0.85 | 0.11 |
| BBMDD012 | 100 | 100.4 | 0.4 | 0.11 |
| BBMDD012 | 100.4 | 100.8 | 0.4 | 0.12 |
| BBMDD012 | 102.2 | 102.95 | 0.75 | 0.15 |
| BBMDD013 | 70.8 | 71.5 | 0.7 | 0.13 |
| BBMDD013 | 71.5 | 72.5 | 1 | 0.3 |
| BBMDD013 | 73.5 | 74.1 | 0.6 | 0.15 |
| BBMDD013 | 74.7 | 75.4 | 0.7 | 0.15 |
| BBMDD013 | 76.1 | 77 | 0.9 | 0.13 |
| BBMDD013 | 77.2 | 78 | 0.8 | 0.16 |
| BBMDD013 | 78 | 79 | 1 | 0.15 |
| BBMDD013 | 79.95 | 80.2 | 0.25 | 0.15 |
| BBMDD013 | 81.7 | 82.7 | 1 | 0.23 |
| BBMDD013 | 82.7 | 83.7 | 1 | 0.12 |
| BBMDD013 | 83.7 | 84.4 | 0.7 | 1.6 |
| BBMDD013 | 85.4 | 86.4 | 1 | 0.27 |
Table 2. Drill intercepts containing reportable levels of gold (> 0.1 g/t Au) for the Brewery Lane diamond drilling, Creswick, Victoria
| Drillhole | From (m) | To (m) | Interval (m) | Grade (g/t Au) |
| CSD015 | 6.8 | 7.2 | 0.4 | 0.15 |
| CSD015 | 7.2 | 7.5 | 0.3 | 0.14 |
| CSD015 | 26.15 | 27.15 | 1 | 0.13 |
| CSD015 | 27.5 | 27.95 | 0.45 | 0.12 |
| CSD015 | 27.95 | 28.15 | 0.2 | 0.13 |
| CSD015 | 28.15 | 28.3 | 0.15 | 0.15 |
| CSD015 | 29.65 | 29.95 | 0.3 | 0.27 |
| CSD015 | 29.95 | 30.3 | 0.35 | 0.15 |
| CSD015 | 36.7 | 37.05 | 0.35 | 0.14 |
| CSD015 | 40.55 | 40.8 | 0.25 | 0.11 |
| CSD016 | 75.85 | 76.1 | 0.25 | 0.13 |
| CSD016 | 94.8 | 95.8 | 1 | 4.29 |
| CSD017 | 14.7 | 15 | 0.3 | 0.14 |
| CSD017 | 28 | 28.3 | 0.3 | 0.11 |
| CSD017 | 34.5 | 34.7 | 0.2 | 0.12 |
| CSD017 | 68.9 | 69.2 | 0.3 | 0.34 |
| CSD017 | 87.9 | 88.7 | 0.8 | 0.67 |
| CSD017 | 101.55 | 101.85 | 0.3 | 0.8 |
| CSD017 | 105.4 | 106.15 | 0.75 | 0.24 |
| CSD018 | 3.1 | 3.3 | 0.2 | 0.25 |
| CSD018 | 11.4 | 12 | 0.6 | 0.39 |
| CSD018 | 12.5 | 13 | 0.5 | 0.26 |
| CSD018 | 13 | 13.5 | 0.5 | 0.33 |
| CSD018 | 20.9 | 21.6 | 0.7 | 0.22 |
| CSD018 | 23.6 | 24.2 | 0.6 | 0.63 |
| CSD018 | 38.4 | 39.4 | 1 | 0.12 |
| CSD018 | 46.8 | 47 | 0.2 | 0.13 |
| CSD018 | 73.8 | 74.2 | 0.4 | 0.15 |
| CSD018 | 89 | 89.4 | 0.4 | 0.12 |
| CSD018 | 97.1 | 97.4 | 0.3 | 0.16 |
| CSD018 | 100.6 | 101.8 | 1.2 | 0.13 |
| CSD018 | 101.8 | 102.1 | 0.3 | 0.13 |
| CSD018 | 118 | 118.75 | 0.75 | 0.18 |
| CSD018 | 118.75 | 119.1 | 0.35 | 1.3 |
| CSD018 | 119.1 | 120 | 0.9 | 0.11 |
| CSD018 | 120 | 120.5 | 0.5 | 0.19 |
| CSD018 | 121.6 | 122 | 0.4 | 0.11 |
| CSD018 | 122 | 123 | 1 | 0.18 |
| CSD018 | 127 | 128 | 1 | 0.14 |
ECR Minerals #ECR – 2023 Exploration Season Commences at the Lolworth Range Project, Queensland
ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce that exploration has begun for the 2023 field season at the Lolworth Range project, North Queensland, Australia, with follow-up exploration of identified Gold and Niobium-Tantalum targets already underway.
ECR Minerals plc has 100% ownership of three exploration tenements (EPM27901, EPM27902 and EPM27903), which covers the Lolworth Range, located 120km west of the famous gold district of Charters Towers. The project is being explored by ECR’s Australian wholly owned subsidiary Lux Exploration Pty Ltd (“LUX”).
HIGHLIGHTS
- Exploration for 2023 is targeting Gold and Niobium-Tantalum anomalies found during last year’s field season.
- Planned soil grids to be undertaken across a 2km x 4km potential pegmatite-dyke intrusive centre. Stream drainages leading from this area contain high concentrates of Niobium-Tantalum mineralisation.
- Previously identified anomalous gold (including visible gold) within streams that are draining from regions of interpreted major fault lineaments represent major targets for the 2023 field season.
CEO Andrew Haythorpe commented: “Both Adam Jones and myself have frequently expressed our excitement at the sheer scale and scope of ECR’s Lolworth project, and its proximity to major historic mines in the area. Our 2022 exploration campaign produced high quality results right from the start, with numerous Gold, Lithium, Niobium and Tantalum samples helping us to zero in on the areas of greatest potential. Our Board and geo team firmly believe that the anecdotal evidence and volume of positive results point to the possibility that the region could host a genuine Gold, Niobium and Tantalum discovery.”
“I am keen to see what the 2023 Lolworth campaign yields in the first few weeks, and I look forward to reporting back to our shareholders.”
Plan figures relating to this announcement can be viewed at the following links:
(Figure 1) Map of the Lolworth Project tenements showing the pan concentrate gold results from exploration in 2022. Also showing the planned exploration targets for 2023;
Figure 1: https://www.ecrminerals.com/images/2023/Fig1_LOL_Au.png
(Figure 2) Map of planned soil sampling grids over the Niobium-Tantalum ridgeline;
Figure 2: https://www.ecrminerals.com/images/2023/Fig2_LOL_Nb-Soilgrids.png
OVERVIEW OF THE 2022 EXPLORATION SEASON
ECR completed its first stage of stream sediment pan concentrate sampling between August and December 2022. A total of 343 samples were taken during this period before the programme was halted due to the incoming tropical wet season. The samples were tested at the end of 2022, revealing Gold results up to 1395 ppm, which correlated well with the visual gold seen in pan concentrates from numerous stream catchments within the mountainous terrain (see March 23 RNS here).
All samples were analysed using a near total digest of the sample which allowed the detection of other critical elements. From these samples, the presence of Niobium (Nb) and Tantalum (Ta) was detected in high concentrations from streams draining from a 10km north-south striking ridgeline within the Oak Creek region in license area EPM29702. Two notable intrusion centres were identified from the sparse governmental geological mapping that exists for this area. These central locations are noted to contain pegmatitic dykes, which are widely accepted as a hard rock host to critical minerals such as Lithium, Niobium and Tantalum. The location of these intrusions along with an overview of the gold values identified during the sampling program during 2022 can be viewed in Figure One above.
PRIORITY EXPLORATION TARGETS FOR 2023
The field team have established that the highest stream concentrations of Niobium and Tantalum originate from a central ridge at the headwaters of Oak Creek. Given that the base geological map for this area shows that pegmatitic dykes are likely to exist, ECR’s technical team have designed a number of soil grids at nominal 50m x 100m spacing along the most prospective ridgeline to detect the presence of Nb-Ta. The Board will also conduct on-ground geological mapping and rock chipping from any prominent outcrops of interest and will then verify if such dykes are present and if so, the values within them. The area of interest covers an area approximately 2km x 4km and is shown in Figure Two above. Although the streams draining this particular area have proved to contain the highest values of Nb and Ta, the field team have also identified other streams showing Gold, Niobium and Tantalum in the immediate vicinity.
The field team also intends to visit and sample an intrusive area similar to the Nb-Ta ridgeline identified in the extreme south-east corner of EPM27903 (see Figure One above). The Board has also identified at least four other drainage systems containing Gold at Flaggy Creek, Reedy Creek, Gorge Creek and an as yet unnamed area (see Figure One above). Visible gold was often seen from sampling within these areas, further validating the laboratory results. Soil grids along with geological mapping and rock chipping work within these catchments has also been prioritised for this year.
NEXT STEPS
The Board believes that the anecdotal evidence and volume of results confirming mineralisation at Lolworth gives rise to the possibility that the region could host a genuine Gold, Niobium and Tantalum discovery. The macro backdrop provides a raft of compelling evidence pointing to an increase in demand for new sources of Gold and critical minerals. The Lolworth Project is sited within a geological district known for a wide range of mineralisation styles, from narrow vein hosted to large intrusion style deposits. Numerous famous historic mines are dotted across this part of North Queensland, including Kidston, Mount Leyshon and Charters Towers. Lolworth Range offers all the right ingredients and geological features to host a potential major discovery, i.e. the right rock types (dykes and intrusions), under explored terrain, positive initial stream sampling results and a determined technical team. The Board and the geological team are very much looking forward to taking the project to the next stage, and we look forward to reporting back to shareholders as soon as possible.
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: | ||||
| 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 90% interest in the Danglay gold project; an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines, which has a 43-101 compliant resource. ECR also holds a royalty on the SLM gold project in La Rioja Province, Argentina and can potentially receive up to US$2.7 million in aggregate across all licences.
ECR Minerals #ECR – Final Niobium and Tantalum Stream Results Extend Anomalous Footprint at Lolworth Range Project, Queensland
ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce the final Niobium and Tantalum results from the stream sampling campaign at the Lolworth Range project, North Queensland, Australia.
ECR, through its wholly owned subsidiary, has 100% ownership of three exploration tenements (EPM27901, EPM27902 and EPM27903), which covers the Lolworth Range, located 120km west of the famous gold district of Charters Towers. The project is being explored under ECR’s Australian wholly owned subsidiary Lux Exploration Pty Ltd (“LUX”).
HIGHLIGHTS
- 76 Lithium, Niobium and Tantalum (Li-Nb-Ta) results from the final batch of pan concentrate stream sediment samples now received.
- Best results include Niobium up to 894 ppm and Tantalum up to 290 ppm.
- These new results extend the anomalous Nb-Ta drainages 10km further west of the previously announced high Nb-Ta results (see announcement from Feb 1 2023 here).
- Approximately 50 square kilometres of the Lolworth Project now showing signs of hosting a potential Li-Nb-Ta hardrock source.
ECR CEO Andrew Haythorpe commented: “Although ECR Minerals is currently in an early exploration phase at Lolworth, it is nonetheless gratifying to see the project take a significant step forward on the back of an extension to the potential drainage sources for Niobium and Tantalum. To already have a 50 sq km area indicating a potential combined resource for Lithium, Niobium and Tantalum at this phase of exploration is an exciting development by any standard. Whilst still at an early stage, these results together with the gold anomalies reported last week (see announcement from Feb 23 2023 here), adds further credence to the Board’s view that the Lolworth Project has great potential to develop into a multi mineral flagship project for the Company.”
“I look forward to reporting back on further developments.”
Summary plan of all anomalous Niobium and Tantalum areas identified from the 2022 stream sampling campaign at the Lolworth Project are shown in Figure 1 below:
Figure 1: https://www.ecrminerals.com/images/2023/Fig1_230331_Ta-Nb-Update.png
FINAL Li-Ta-Nb RESULTS
The last remaining multi-element results from the pan concentrate stream sampling campaign completed at the end of 2022 have now been received. Previous results have identified that several streams within the Lolworth Project are host to anomalous Gold, Lithium, Tantalum and Niobium, with Li-Ta-Nb sample results indicating that a 10km north-south ridgeline north of Gorge Creek is close to the possible source rocks. Details of this work are shown in Figure One above.
The final results are anomalous in Ta and Nb with over 10 of the 76 results greater than 300 ppm in Niobium and 9 greater than 150ppm in Tantalum. Although there were no traces of anomalous Lithium in these results, we have extended the search for potential host rocks for Ta-Nb to the centre of EPM27902.
NEXT STEPS
The 2023 field work campaign is anticipated to start next month (May 2023). The Board has already identified key areas to follow-up from last season’s work, targeting the sources for the gold anomalies, along with lithium, tantalum and niobium. Initial work will focus on soil sampling and rock chipping outcrops over the 10km north-south ridgeline where the most promising Ta-Nb source streams drain from. Pegmatites are known sources for Li-Ta and Nb and these are known to outcrop throughout the area.
The Board is enthused by the possibilities and nascent potential that is believed to exist at Lolworth. While our license tenements there represent virgin territory for lithium, tantalum and niobium exploration, given what has already been identified at such an early phase of exploration, we believe the Lolworth Project has great potential as a future, multi mineral flagship project for the Company.
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: | ||||
| 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 90% interest in the Danglay gold project; an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines, which has a 43-101 compliant resource. ECR also holds a royalty on the SLM gold project in La Rioja Province, Argentina and can potentially receive up to US$2.7 million in aggregate across all licences.
APPENDIX ONE
TABLE ONE: All Li-Ni-Ta results from the remaining 76 stream samples, Lolworth Range Project. (Locations reported as GDA94-Zone 55 grid).
| SAMPLEID | EASTING | NORTHING | Lithium (ppm) | Niobium (ppm) | Tantalum (ppm) |
| LWSS152 | 314342 | 7749643 | 10 | 26 | 10 |
| LWSS201 | 311180 | 7748656 | 30 | 9 | 10 |
| LWSS202 | 310602 | 7749015 | 30 | 20 | 10 |
| LWSS203 | 311113 | 7748916 | 20 | 6 | 10 |
| LWSS301 | 313505 | 7752290 | 10 | 27 | 10 |
| LWSS305 | 313302 | 7754719 | 10 | 110 | 20 |
| LWSS307 | 313709 | 7753194 | 10 | 424 | 110 |
| LWSS308 | 310995 | 7751833 | 10 | 6 | 10 |
| LWSS309 | 309549 | 7750825 | 10 | 9 | 10 |
| LWSS312 | 308468 | 7755458 | 10 | 344 | 150 |
| LWSS313 | 307690 | 7753774 | 10 | 84 | 10 |
| LWSS314 | 310197 | 7753918 | 10 | 40 | 10 |
| LWSS315 | 310983 | 7752585 | 10 | 8 | 10 |
| LWSS316 | 310476 | 7751531 | 10 | 14 | 10 |
| LWSS317 | 307360 | 7752660 | 10 | 37 | 10 |
| LWSS318 | 304761 | 7751530 | 20 | 137 | 70 |
| LWSS319 | 303817 | 7750821 | 20 | 49 | 20 |
| LWSS320 | 303513 | 7749908 | 10 | 52 | 30 |
| LWSS321 | 304329 | 7749453 | 10 | 83 | 40 |
| LWSS322 | 303733 | 7748970 | 10 | 375 | 360 |
| LWSS323 | 302222 | 7751634 | 20 | 11 | 10 |
| LWSS324 | 301408 | 7750191 | 20 | 17 | 10 |
| LWSS325 | 301118 | 7750266 | 20 | 7 | 10 |
| LWSS326 | 299529 | 7750758 | 10 | 8 | 10 |
| LWSS327 | 298851 | 7753698 | 10 | 70 | 10 |
| LWSS328 | 298118 | 7752914 | 10 | 63 | 20 |
| LWSS329 | 297786 | 7752803 | 10 | 164 | 60 |
| LWSS330 | 297542 | 7752332 | 10 | 130 | 40 |
| LWSS331 | 297859 | 7751589 | 10 | 235 | 70 |
| LWSS332 | 297743 | 7751392 | 10 | 51 | 10 |
| LWSS333 | 293758 | 7754499 | 20 | 22 | 10 |
| LWSS335 | 291417 | 7756638 | 10 | 18 | 10 |
| LWSS336 | 293662 | 7758117 | 10 | 35 | 20 |
| LWSS337 | 293239 | 7758862 | 10 | 107 | 30 |
| LWSS338 | 291660 | 7758838 | 10 | 36 | 10 |
| LWSS339 | 291835 | 7759016 | 10 | 335 | 60 |
| LWSS340 | 291528 | 7759047 | 10 | 34 | 10 |
| LWSS341 | 291878 | 7759967 | 10 | 26 | 10 |
| LWSS342 | 300649 | 7755309 | 10 | 170 | 50 |
| LWSS343 | 300697 | 7756249 | 10 | 712 | 340 |
| LWSS344 | 301040 | 7756293 | 20 | 40 | 10 |
| LWSS345 | 303230 | 7756616 | 10 | 217 | 50 |
| LWSS346 | 303005 | 7755876 | 10 | 16 | 10 |
| LWSS347 | 302894 | 7755034 | 10 | 25 | 10 |
| LWSS348 | 303560 | 7754928 | 10 | 20 | 10 |
| LWSS349 | 303118 | 7754758 | 10 | 176 | 70 |
| LWSS350 | 302526 | 7754269 | 10 | 65 | 10 |
| LWSS351 | 302462 | 7753891 | 10 | 39 | 20 |
| LWSS352 | 302689 | 7753860 | 20 | 73 | 70 |
| LWSS353 | 303659 | 7754034 | 20 | 51 | 20 |
| LWSS354 | 304643 | 7757176 | 10 | 528 | 190 |
| LWSS355 | 304398 | 7757534 | 10 | 579 | 230 |
| LWSS356 | 305095 | 7757449 | 10 | 321 | 80 |
| LWSS357 | 306860 | 7757553 | 10 | 695 | 210 |
| LWSS358 | 306999 | 7756369 | 10 | 118 | 40 |
| LWSS359 | 307628 | 7757575 | 10 | 186 | 70 |
| LWSS360 | 307631 | 7757707 | 10 | 288 | 60 |
| LWSS361 | 308082 | 7757860 | 10 | 66 | 10 |
| LWSS362 | 310752 | 7758027 | 10 | 73 | 10 |
| LWSS363 | 310768 | 7757374 | 10 | 234 | 50 |
| LWSS387 | 315175 | 7747119 | 20 | 9 | 10 |
| LWSS388 | 314838 | 7746642 | 20 | 19 | 10 |
| LWSS389 | 314882 | 7746209 | 10 | 6 | 10 |
| LWSS390 | 315960 | 7746391 | 30 | 8 | 10 |
| LWSS391 | 316127 | 7746489 | 20 | 6 | 10 |
| LWSS392 | 303396 | 7763735 | 10 | 222 | 130 |
| LWSS393 | 302950 | 7763679 | 10 | 77 | 20 |
| LWSS394 | 303018 | 7763551 | 10 | 136 | 30 |
| LWSS395 | 303268 | 7763015 | 10 | 151 | 40 |
| LWSS396 | 301531 | 7762367 | 10 | 37 | 10 |
| LWSS397 | 301495 | 7761879 | 10 | 5 | 10 |
| LWSS398 | 302744 | 7761951 | 10 | 70 | 10 |
| LWSS399 | 302960 | 7761777 | 10 | 59 | 10 |
| LWSS400 | 305221 | 7762763 | 10 | 397 | 110 |
| LWSS401 | 305347 | 7762407 | 10 | 164 | 30 |
| LWSS402 | 312624 | 7757384 | 10 | 894 | 290 |
ECR Minerals #ECR – Further Stream Sampling Results Identify New Gold Anomalies at Lolworth Range Project, Queensland
ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce updated gold results from the stream sampling campaign at the Lolworth Range project, North Queensland, Australia.
ECR Minerals plc has 100% ownership of three exploration tenements (EPM27901, EPM27902 and EPM27903), which covers the Lolworth Range, located 120km west of the famous gold district of Charters Towers. The project is being explored under ECR’s Australian wholly owned subsidiary Lux Exploration Pty Ltd (“LUX”).
HIGHLIGHTS
- Assays from the final 75 stream sediment samples now received.
- Results have outlined another 6 stream drainages that are anomalous in gold.
- Gold results up to 1395 ppm gold correlate well to visual gold seen in pan concentrates
- Results for Li-Ta-Ni-Ce are yet to be received.
ECR CEO Andrew Haythorpe commented: “I am pleased to report that once again our Lolworth assets continue to exceed expectations. As the regional streams and gullies continue to give up their secrets and yield some high gold values, there is a real sense of excitement and anticipation at the potential scale and diversity at the project. Once our field team get back on the ground and zone in on the most promising streams, we expect to be able to produce a shortlist of drill targets ready for our rig to commence work at the earliest opportunity.”
“We already know 2023 will be a definitive year for Lolworth, and with so much more to come from the rest of ECR’s asset portfolio, I look forward to reporting further developments as they occur.”
Plan of all outlying anomalous gold areas identified from stream sampling to date at the Lolworth Project are shown in Figure 1 below:
Figure 1: https://www.ecrminerals.com/images/2023/Fig1_Lolworth_Project_230322.png
NEW GOLD RESULTS
We are pleased that the long-awaited results for the last batch of stream samples have finally arrived. The results show that 12 of the 75 completed samples contain anomalous values greater than 0.21 ppm Au with three samples in particular recording 25.9, 205 and 1395 ppm gold. Whilst this is still early stage sampling work, it should be noted that the majority of these high gold values correlate with the visual identification of gold seen in the pan stream concentrates. The Directors believe the reported high values are strongly indicative of a gold source up-stream and therefore are not representative of the in-situ gold resource within the streams themselves.
ADDITIONAL STREAM ANOMALIES
As outlined in Figure 1 above, our reported additional gold results have identified five new stream catchments that are anomalous in gold. All these new areas are situated to the west of the Reedy Creek and Gorge Creek drainages, and will be re-visited once the current tropical wet season ends.
NEXT STEPS
Since initial work began at Lolworth in September 2022, the field team have identified numerous catchments that have highlighted potential multiple gold sources across all three tenements. Adding further value to this, critical minerals such as lithium, tantalum and niobium have also been identified within streams that are draining from a prominent 10km long north-south ridge line that starts north from Gorge Creek. The results so far have exceeded the expectations of the Board, and along with the geology and field teams on the ground, there is a palpable sense of anticipation over what the project could yield in the coming months.
As we wait for the heavy tropical rains to pass, the ECR Board has planned out the next ‘boots on the ground’ phase to commence in May-June this year. The new campaign priorities will involve mapping, rock chip sampling and soil sampling over the headwaters and ridgelines of the most promising streams. Subject to these results the board will then delineate appropriate drill targets, and schedule a drilling campaign to commence late 2023 / early 2024.
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: | ||||
| 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 90% interest in the Danglay gold project; an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines, which has a 43-101 compliant resource. ECR also holds a royalty on the SLM gold project in La Rioja Province, Argentina and can potentially receive up to US$2.7 million in aggregate across all licences.
APPENDIX ONE
TABLE ONE: All 76 gold results listed by rank of Au ppm. Highly anomalous results in bold, Lolworth Range Project. (Locations reported as GDA94-Zone 55 grid).
| SAMPLEID | EASTING | NORTHING | Au (ppm) |
| LWSS152 | 314342 | 7749643 | 1395 |
| LWSS316 | 310476 | 7751531 | 205 |
| LWSS330 | 297542 | 7752332 | 25.9 |
| LWSS324 | 301408 | 7750191 | 3.54 |
| LWSS355 | 304398 | 7757534 | 3.28 |
| LWSS307 | 313709 | 7753194 | 2.45 |
| LWSS392 | 303396 | 7763735 | 0.837 |
| LWSS328 | 298118 | 7752914 | 0.833 |
| LWSS400 | 305221 | 7762763 | 0.411 |
| LWSS203 | 311113 | 7748916 | 0.292 |
| LWSS363 | 310768 | 7757374 | 0.264 |
| LWSS319 | 303817 | 7750821 | 0.257 |
| LWSS331 | 297859 | 7751589 | 0.116 |
| LWSS337 | 293239 | 7758862 | 0.089 |
| LWSS358 | 306999 | 7756369 | 0.07 |
| LWSS308 | 310995 | 7751833 | 0.045 |
| LWSS333 | 293758 | 7754499 | 0.04 |
| LWSS387 | 315175 | 7747119 | 0.04 |
| LWSS401 | 305347 | 7762407 | 0.035 |
| LWSS356 | 305095 | 7757449 | 0.029 |
| LWSS309 | 309549 | 7750825 | 0.025 |
| LWSS322 | 303733 | 7748970 | 0.015 |
| LWSS320 | 303513 | 7749908 | 0.009 |
| LWSS402 | 312624 | 7757384 | 0.008 |
| LWSS313 | 307690 | 7753774 | 0.007 |
| LWSS325 | 301118 | 7750266 | 0.006 |
| LWSS395 | 303268 | 7763015 | 0.005 |
| LWSS301 | 313505 | 7752290 | 0.003 |
| LWSS327 | 298851 | 7753698 | 0.003 |
| LWSS335 | 291417 | 7756638 | 0.003 |
| LWSS336 | 293662 | 7758117 | 0.003 |
| LWSS340 | 291528 | 7759047 | 0.003 |
| LWSS201 | 311180 | 7748656 | 0.002 |
| LWSS202 | 310602 | 7749015 | 0.002 |
| LWSS339 | 291835 | 7759016 | 0.002 |
| LWSS390 | 315960 | 7746391 | 0.002 |
| LWSS305 | 313302 | 7754719 | 0.001 |
| LWSS312 | 308468 | 7755458 | 0.001 |
| LWSS314 | 310197 | 7753918 | 0.001 |
| LWSS315 | 310983 | 7752585 | 0.001 |
| LWSS317 | 307360 | 7752660 | 0.001 |
| LWSS318 | 304761 | 7751530 | 0.001 |
| LWSS321 | 304329 | 7749453 | 0.001 |
| LWSS323 | 302222 | 7751634 | 0.001 |
| LWSS326 | 299529 | 7750758 | 0.001 |
| LWSS329 | 297786 | 7752803 | 0.001 |
| LWSS332 | 297743 | 7751392 | 0.001 |
| LWSS338 | 291660 | 7758838 | 0.001 |
| LWSS341 | 291878 | 7759967 | 0.001 |
| LWSS342 | 300649 | 7755309 | 0.001 |
| LWSS343 | 300697 | 7756249 | 0.001 |
| LWSS344 | 301040 | 7756293 | 0.001 |
| LWSS345 | 303230 | 7756616 | 0.001 |
| LWSS346 | 303005 | 7755876 | 0.001 |
| LWSS347 | 302894 | 7755034 | 0.001 |
| LWSS348 | 303560 | 7754928 | 0.001 |
| LWSS349 | 303118 | 7754758 | 0.001 |
| LWSS350 | 302526 | 7754269 | 0.001 |
| LWSS351 | 302462 | 7753891 | 0.001 |
| LWSS352 | 302689 | 7753860 | 0.001 |
| LWSS353 | 303659 | 7754034 | 0.001 |
| LWSS354 | 304643 | 7757176 | 0.001 |
| LWSS357 | 306860 | 7757553 | 0.001 |
| LWSS359 | 307628 | 7757575 | 0.001 |
| LWSS360 | 307631 | 7757707 | 0.001 |
| LWSS361 | 308082 | 7757860 | 0.001 |
| LWSS362 | 310752 | 7758027 | 0.001 |
| LWSS388 | 314838 | 7746642 | 0.001 |
| LWSS389 | 314882 | 7746209 | 0.001 |
| LWSS391 | 316127 | 7746489 | 0.001 |
| LWSS393 | 302950 | 7763679 | 0.001 |
| LWSS394 | 303018 | 7763551 | 0.001 |
| LWSS396 | 301531 | 7762367 | 0.001 |
| LWSS398 | 302744 | 7761951 | 0.001 |
| LWSS399 | 302960 | 7761777 | 0.001 |
ECR Minerals #ECR – Further Gold, Lithium, Tantalum and Niobium Samples Identified at Lolworth Range Project, Queensland
ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce further progress and new results for gold, Lithium, Tantalum and Niobium from the recently completed stream sampling campaign at the Lolworth Range project, North Queensland, Australia.
ECR Minerals plc has 100% ownership of three exploration tenements (EPM27901, EPM27902 and EPM27903), which covers the Lolworth Range, located 120km west of the famous gold district of Charters Towers. The project is being explored under ECR’s Australian wholly owned subsidiary Lux Exploration Pty Ltd (“LUX”).
HIGHLIGHTS
- Results from 144 additional stream sediment samples have been received.
- 19 out of 144 samples show gold values greater than 1 ppm Au, with a best result of 51 ppm Au.
- 35% of the 144 samples show visible gold in heavy pan concentrates.
- Lithium, Tantalum and Niobium confirmed in streams that drain the hills over a 10km trend from Gorge Creek to Oak Creek.
- Results from 33 regional rock chips reveal anomalous silver at the Uncle Terry’s Prospect. Two rock chips from outcrop in the Flaggy Creek drainage show gold results including 4.73 g/t Au.
ECR CEO Andrew Haythorpe commented: “On behalf of the board, we are pleased to see our Lolworth asset really starting to take shape. With further examples of visible gold in 35% of samples and the presence of Lithium, Tantalum and Niobium over a 10km trend, there is a genuine sense that Lolworth could be developing into a key asset for ECR. The rock chip samples containing gold from the Uncle Terry prospect adds further credence to this view.”
“There is so much more to come from ECR’s asset portfolio in 2023, and I look forward to reporting results and campaign developments to you as they occur.
Plan of the Lolworth tenements showing all gold results to date are shown in Figure 1 below:
Figure 1: https://www.ecrminerals.com/images/2023/Fig1_230130.png
Inserts A and Insert B relating to Figure 2 below:
Figure 2-Insert A: https://www.ecrminerals.com/images/2023/Fig2-InsertA_230130.png
Figure 2-Insert B: https://www.ecrminerals.com/images/2023/Fig2-InsertB_230130.png
Plan showing the Lithium, Tantalum and Niobium stream sampling across the Lolworth tenements shown in Figure 3 below:
Figure 3: https://www.ecrminerals.com/images/2023/Fig3_230130.png
Results for reported stream samples and rock chips are listed in Appendix One at end of this announcement.
STREAM SAMPLING PROGRAMME – BACKGROUND
A total of 347 stream sediment samples were completed at the Lolworth Range project between September and December 2022, and to date, ECR has received a total of 269 of 347 samples back from the lab. All samples are derived from pan concentrated stream sediment extracted from numerous traps at pre-determined planned sites and processed at the ALS Laboratory Perth. 33 elements were analysed utilising method ME-ICP61, which invariably returns a comprehensive digest that unlocks most elements of interest.
ECR pegged the Lolworth Range after initial research revealed that historic stream sediment sampling undertaken in 1987-1988 showed visible gold. No follow up work was undertaken to search for gold, and to date no exploration work has been undertaken in the region for critical minerals such as Lithium. Given the levels of Lithium, Tantalum and Niobium that sampling has already uncovered, the Board believes there are clear opportunities for further discoveries. Currently ground work at the project is at a stand-still due to the tropical wet season.
GOLD RESULTS AND TRENDS
New results show additional gold values in stream sediments with values present up to 51 ppm Au, also supported by visible gold present in 35% of pan samples. Most of the 144 new results were follow-up samples from the initial results taken from sites within Gorge Creek, Reedy Creek, Flaggy Creek and Oak Creek drainages (see Figure 1 above).
LITHIUM AND TANTALUM-NIOBIUM TRENDS
ECR recently demonstrated the presence of Lithium, Tantalum and Niobium in the streams at Gorge Creek and the Upper Glen Creek-Oak Creek area (see RNS dated 23rd December 2022 here). These results are further enhanced by the high levels of Lithium, Tantalum and Niobium announced today (see Figure 3 above). The results show that Lithium is contained within the Gorge Creek drainage area, while the presence of Tantalum and Niobium has been identified along a line approximately 10km in length trending north from Gorge Creek to Oak Creek. No Lithium, Tantalum or Niobium has been detected in any other drainage areas sampled to date within the EPM licences.
ROCK CHIPS AND UNCLE TERRY’S PROSPECT
The field team have been encouraged to take rock chips from any outcrops encountered within the planned stream sample sites. Two encouraging results of 4.73 g/t Au and 0.14 g/t Au were taken from an outcrop in the Flaggy Creek area. The strike area for this outcrop is estimated to cover a distance of 180m in a NE direction, added to which streams immediately along this strike trend have also reported highly anomalous gold ( SeeFigure 2-Insert A above).
ECR Technical Director Adam Jones visited the project in November 2022 and at a quartz outcrop known as Uncle Terry’s, he and the team extracted a total of 28 rock chips over a strike length of 150m. Results from the oxidised quartz outcrop, estimated at widths of 3m contained predominantly silver (Ag). The silver is present at the centre of the outcrop, and while no high grades were present, a best result of 7.3 g/t Ag was recorded (see Figure 2-Insert B above). Similar oxidised outcrops were observed in patches to the SW and NE of the main outcrop. No further work has been undertaken since the visit due to the wet weather.
NEXT STEPS
The Board are satisfied that these results now show the main areas of focus for Gold, Lithium, Tantalum and Niobium (Au, Li-Ta-Nb). Once the wet season passes, the field team will return and complete further stream sampling at the head waters of the most promising drainage sites. Work is expected to continue up onto the ridgelines this year where soil sampling will begin. Mapping and sampling of outcrops will also be undertaken within the gold and Li-Ta-Nb areas as outlined in Figure 1 above. The Board is hopeful that this work will identify a series of potential drill targets by the close of the 2023 field 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.
FOR FURTHER INFORMATION, PLEASE CONTACT:
| ECR Minerals plc | Tel: +44 (0) 20 7929 1010 | |||
| David Tang, Non-Executive Chairman
Andrew Haythorpe, CEO |
||||
| Email: | ||||
| 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 and can potentially receive up to US$2.7 million in aggregate across all licences.
APPENDIX ONE
TABLE ONE: All locations for Gold, Lithium, Tantalum and Niobium results (ppm) from 144 recently received stream samples, Lolworth Range Project. (Locations reported as GDA94-Zone 55 grid).
| SAMPLEID | EASTING | NORTHING | Au (ppm) | Li (ppm) | Ta (ppm) | Nb (ppm) |
| LWSS002 | 312747.24 | 7755208.3 | 2.700 | 10 | 290 | 535 |
| LWSS003 | 312937.59 | 7755402.2 | 5.560 | 10 | 100 | 281 |
| LWSS005 | 312327.78 | 7755159 | 4.460 | 10 | 310 | 1100 |
| LWSS006 | 312412.38 | 7755391.6 | 0.001 | 10 | 200 | 831 |
| LWSS007 | 313973.91 | 7756435 | 0.128 | 10 | 890 | 2000 |
| LWSS008 | 313632 | 7756554.8 | 0.062 | 20 | 850 | 2000 |
| LWSS009 | 313998.59 | 7756294 | 2.920 | 10 | 260 | 828 |
| LWSS011 | 312426.49 | 7755878.1 | 0.001 | 10 | 230 | 1000 |
| LWSS017 | 314911.54 | 7757848.5 | 0.001 | 10 | 280 | 988 |
| LWSS018 | 315362.72 | 7758225.6 | 0.002 | 10 | 100 | 390 |
| LWSS024 | 311005.94 | 7755832.2 | 4.350 | 10 | 820 | 2000 |
| LWSS025 | 310241.04 | 7755962.7 | 0.001 | 10 | 80 | 308 |
| LWSS026 | 309229.4 | 7755758.2 | 0.001 | 10 | 100 | 532 |
| LWSS027 | 309010.85 | 7756664.1 | 0.014 | 10 | 150 | 621 |
| LWSS028 | 308531.47 | 7756893.2 | 0.001 | 10 | 50 | 177 |
| LWSS029 | 308644.26 | 7757880.2 | 0.021 | 10 | 60 | 156 |
| LWSS030 | 314435.68 | 7761708.3 | 1.525 | 10 | 20 | 114 |
| LWSS031 | 313505.1 | 7761521.4 | 0.001 | 10 | 30 | 189 |
| LWSS032 | 312930.55 | 7760555.6 | 0.001 | 10 | 40 | 267 |
| LWSS033 | 312511.08 | 7760950.4 | 10.000 | 10 | 230 | 707 |
| LWSS034 | 312592.15 | 7759988.1 | 0.238 | 10 | 60 | 162 |
| LWSS035 | 312289.01 | 7758958.8 | 0.497 | 10 | 280 | 735 |
| LWSS036 | 312623.88 | 7758786.1 | 0.001 | 10 | 410 | 1690 |
| LWSS037 | 312955.22 | 7759420.6 | 0.014 | 10 | 180 | 367 |
| LWSS038 | 307741.5 | 7762811.4 | 1.575 | 10 | 70 | 158 |
| LWSS039 | 308353.07 | 7763269.7 | 0.004 | 10 | 20 | 90 |
| LWSS040 | 307857.83 | 7762247.5 | 0.001 | 10 | 20 | 75 |
| LWSS041 | 308305.87 | 7759205.6 | 0.001 | 10 | 50 | 164 |
| LWSS042 | 309317.51 | 7759544 | 0.001 | 10 | 30 | 85 |
| LWSS043 | 308351.7 | 7760217.2 | 0.003 | 10 | 10 | 49 |
| LWSS044 | 308076.75 | 7760136.1 | 0.007 | 10 | 20 | 104 |
| LWSS045 | 309500.82 | 7761775.2 | 0.004 | 10 | 150 | 190 |
| LWSS046 | 308933.31 | 7761285.3 | 0.015 | 10 | 10 | 35 |
| LWSS059 | 304287.48 | 7757982.4 | 8.790 | 10 | 10 | 65 |
| LWSS060 | 304308.63 | 7758525.3 | 6.120 | 10 | 20 | 66 |
| LWSS061 | 304788.01 | 7757555.9 | 0.002 | 10 | 20 | 91 |
| LWSS062 | 303625.3 | 7758773.7 | 0.407 | 10 | 10 | 61 |
| LWSS063 | 304208.67 | 7762927.8 | 0.002 | 10 | 20 | 83 |
| LWSS064 | 304046.52 | 7763000 | 0.001 | 10 | 20 | 88 |
| LWSS065 | 304156.68 | 7763678.6 | 0.007 | 10 | 10 | 38 |
| LWSS066 | 303467.56 | 7762036 | 0.001 | 10 | 10 | 75 |
| LWSS067 | 303730.55 | 7757076.5 | 0.001 | 10 | 30 | 44 |
| LWSS068 | 304322.73 | 7756227 | 0.001 | 10 | 80 | 298 |
| LWSS069 | 304957.21 | 7755127.3 | 0.001 | 10 | 20 | 103 |
| LWSS070 | 304858.52 | 7754975.7 | 0.001 | 10 | 60 | 156 |
| LWSS071 | 303568.4 | 7756858 | 0.001 | 10 | 170 | 494 |
| LWSS072 | 305739.74 | 7759526.3 | 1.815 | 10 | 10 | 16 |
| LWSS073 | 305588.17 | 7759420.6 | 0.001 | 10 | 40 | 136 |
| LWSS074 | 305965.33 | 7758186.9 | 0.007 | 10 | 40 | 19 |
| LWSS075 | 306233.23 | 7758179.8 | 0.001 | 10 | 10 | 16 |
| LWSS076 | 305789.09 | 7757682.8 | 0.001 | 10 | 10 | 45 |
| LWSS126 | 318994.25 | 7750560.8 | 0.001 | 10 | 50 | 180 |
| LWSS127 | 319043.6 | 7750571.3 | 0.002 | 10 | 80 | 252 |
| LWSS128 | 319117.62 | 7750500.8 | 0.001 | 10 | 20 | 41 |
| LWSS129 | 318157.09 | 7749845.2 | 0.001 | 10 | 130 | 360 |
| LWSS130 | 318493.72 | 7749524.4 | 0.001 | 10 | 10 | 9 |
| LWSS131 | 317663.6 | 7749683.1 | 0.001 | 10 | 10 | 14 |
| LWSS132 | 317727.06 | 7749845.2 | 0.001 | 10 | 60 | 90 |
| LWSS133 | 319297.39 | 7748925.2 | 0.001 | 10 | 10 | 14 |
| LWSS134 | 319463.06 | 7747472.9 | 0.003 | 10 | 10 | 22 |
| LWSS135 | 319233.94 | 7747480 | 0.001 | 10 | 10 | 16 |
| LWSS136 | 319614.64 | 7747892.4 | 0.001 | 20 | 60 | 181 |
| LWSS137 | 319634.02 | 7747183.9 | 0.699 | 10 | 10 | 27 |
| LWSS138 | 319811.15 | 7746709.8 | 0.001 | 10 | 10 | 19 |
| LWSS139 | 318826.82 | 7747095.8 | 0.001 | 30 | 10 | 5 |
| LWSS140 | 317667.12 | 7747846.6 | 0.001 | 40 | 10 | 7 |
| LWSS141 | 317720.01 | 7748177.9 | 0.001 | 30 | 10 | 9 |
| LWSS142 | 317113.72 | 7746849 | 0.028 | 20 | 10 | 5 |
| LWSS143 | 318305.13 | 7746330.9 | 0.001 | 20 | 10 | 5 |
| LWSS144 | 318636.47 | 7746489.5 | 0.001 | 30 | 10 | 5 |
| LWSS145 | 317649.5 | 7747472.9 | 0.001 | 40 | 10 | 5 |
| LWSS146 | 317512.04 | 7747321.4 | 0.001 | 20 | 10 | 5 |
| LWSS165 | 310545.95 | 7752670.4 | 0.001 | 10 | 10 | 22 |
| LWSS166 | 311293.23 | 7752293.2 | 0.001 | 10 | 10 | 8 |
| LWSS167 | 311892.46 | 7751648.2 | 0.003 | 20 | 10 | 7 |
| LWSS168 | 310653.46 | 7753033.5 | 0.001 | 10 | 10 | 40 |
| LWSS169 | 311164.57 | 7753347.2 | 0.001 | 10 | 10 | 52 |
| LWSS170 | 310910.77 | 7753660.9 | 0.001 | 10 | 10 | 10 |
| LWSS171 | 310501.88 | 7753153.3 | 0.005 | 20 | 50 | 242 |
| LWSS172 | 310359.12 | 7752184 | 51.000 | 10 | 10 | 19 |
| LWSS173 | 310655.21 | 7751503.7 | 0.001 | 10 | 10 | 10 |
| LWSS174 | 310380.27 | 7751849.1 | 0.113 | 10 | 10 | 9 |
| LWSS175 | 310204.03 | 7752504.7 | 0.001 | 20 | 10 | 51 |
| LWSS176 | 310482.5 | 7750900.9 | 0.021 | 10 | 10 | 8 |
| LWSS177 | 310309.78 | 7750971.4 | 0.001 | 10 | 10 | 5 |
| LWSS178 | 309294.61 | 7751782.1 | 0.014 | 10 | 10 | 46 |
| LWSS179 | 309326.33 | 7751620 | 0.002 | 10 | 10 | 16 |
| LWSS180 | 309340.43 | 7750982 | 6.060 | 20 | 10 | 5 |
| LWSS181 | 308173.69 | 7751507.2 | 0.221 | 20 | 50 | 31 |
| LWSS182 | 308244.19 | 7751894.9 | 0.005 | 20 | 30 | 105 |
| LWSS183 | 307754.23 | 7751556.5 | 0.003 | 20 | 50 | 84 |
| LWSS191 | 322499.77 | 7748489.9 | 0.001 | 10 | 110 | 247 |
| LWSS192 | 322390.49 | 7748391.2 | 0.001 | 10 | 20 | 38 |
| LWSS193 | 321748.96 | 7748278.4 | 0.020 | 10 | 60 | 145 |
| LWSS194 | 322390.49 | 7748826.5 | 0.001 | 20 | 20 | 43 |
| LWSS195 | 320867.74 | 7748768.3 | 0.001 | 10 | 10 | 9 |
| LWSS196 | 321135.63 | 7749046.8 | 0.001 | 10 | 10 | 25 |
| LWSS197 | 307740.13 | 7750231.2 | 0.001 | 30 | 10 | 12 |
| LWSS200 | 307863.5 | 7750492 | 0.088 | 20 | 30 | 32 |
| LWSS216 | 314069.55 | 7754181.5 | 0.001 | 10 | 30 | 172 |
| LWSS217 | 315247.01 | 7754773.5 | 0.001 | 10 | 50 | 109 |
| LWSS218 | 313907.49 | 7755041.4 | 0.001 | 10 | 10 | 44 |
| LWSS219 | 315538.07 | 7753979.7 | 0.001 | 10 | 80 | 290 |
| LWSS220 | 315653.83 | 7753606 | 0.002 | 10 | 20 | 94 |
| LWSS221 | 313947.19 | 7756453.7 | 1.010 | 20 | 1200 | 2000 |
| LWSS222 | 314370.53 | 7757282.2 | 0.001 | 10 | 280 | 1085 |
| LWSS223 | 314028.21 | 7757108.6 | 0.001 | 10 | 410 | 1515 |
| LWSS224 | 314919.58 | 7756724.9 | 0.001 | 10 | 30 | 117 |
| LWSS225 | 314686.4 | 7756212.3 | 2.820 | 10 | 330 | 1015 |
| LWSS226 | 315496.73 | 7756349.5 | 0.577 | 10 | 330 | 865 |
| LWSS235 | 298514.54 | 7760139.9 | 0.018 | 10 | 10 | 75 |
| LWSS236 | 298383.9 | 7759655.3 | 0.001 | 10 | 10 | 45 |
| LWSS237 | 299090.05 | 7760824.5 | 0.156 | 10 | 10 | 19 |
| LWSS238 | 299220.69 | 7760730.3 | 0.993 | 10 | 10 | 30 |
| LWSS239 | 299250.46 | 7761256.1 | 0.003 | 10 | 10 | 8 |
| LWSS240 | 299515.05 | 7761087.5 | 2.190 | 10 | 40 | 129 |
| LWSS241 | 300227.82 | 7760789.8 | 0.001 | 10 | 50 | 195 |
| LWSS242 | 300214.59 | 7760624.4 | 0.003 | 10 | 20 | 80 |
| LWSS243 | 299033.83 | 7757950.3 | 0.001 | 10 | 10 | 39 |
| LWSS244 | 299020.59 | 7757680.8 | 0.001 | 10 | 10 | 18 |
| LWSS245 | 298364.06 | 7757765.1 | 0.002 | 10 | 10 | 34 |
| LWSS246 | 300376.65 | 7759571 | 0.010 | 10 | 10 | 67 |
| LWSS248 | 314011.72 | 7756160.3 | 5.690 | 10 | 590 | 2000 |
| LWSS249 | 314001.57 | 7755832.4 | 0.001 | 10 | 120 | 374 |
| LWSS250 | 298718.64 | 7760863.7 | 0.005 | 10 | 10 | 54 |
| LWSS256 | 312865.3 | 7752516.4 | 2.050 | 10 | 10 | 68 |
| LWSS257 | 313150.63 | 7752351.1 | 0.002 | 10 | 10 | 21 |
| LWSS258 | 313238.12 | 7752794.8 | 0.001 | 10 | 30 | 128 |
| LWSS268 | 315810.55 | 7746062.2 | 0.001 | 20 | 10 | 6 |
| LWSS269 | 315373.85 | 7746196.7 | 0.001 | 30 | 10 | 6 |
| LWSS270 | 315357.23 | 7745927.5 | 0.001 | 20 | 10 | 5 |
| LWSS271 | 316180.21 | 7745816.7 | 0.001 | 20 | 10 | 6 |
| LWSS272 | 316350.1 | 7745452.2 | 0.001 | 20 | 10 | 10 |
| LWSS273 | 318476.24 | 7745781.9 | 0.003 | 20 | 10 | 10 |
| LWSS274 | 291324.1 | 7763871 | 0.001 | 10 | 10 | 5 |
| LWSS275 | 293297.44 | 7762831 | 0.001 | 10 | 10 | 24 |
| LWSS276 | 293082.03 | 7763166.4 | 0.001 | 10 | 10 | 5 |
| LWSS277 | 290776.11 | 7761699.2 | 0.001 | 10 | 10 | 23 |
| LWSS278 | 291905.83 | 7761305.9 | 0.001 | 10 | 10 | 31 |
| LWSS279 | 291501.85 | 7759715.4 | 1.205 | 10 | 10 | 29 |
| LWSS280 | 291369.2 | 7759845.2 | 0.001 | 20 | 10 | 62 |
| LWSS281 | 289171.01 | 7765431.9 | 0.001 | 10 | 10 | 5 |
| LWSS283 | 286679.37 | 7764836.9 | 0.001 | 10 | 10 | 5 |
| LWSS284 | 286501.44 | 7765111.2 | 0.001 | 10 | 10 | 5 |
TABLE TWO: All locations of rock chip results (g/t). (Locations reported as GDA94-Zone 55 grid).
| SAMPLEID | EASTING | NORTHING | Comment | Au (ppm) | Ag (ppm) | Pb (ppm) | Zn (ppm) | As (ppm) |
| LWC002 | 298771 | 7760765 | Qtz Sub-Crop Flaggy Creek (along strike) | 0.14 | 5.50 | 72 | 7 | 5 |
| LWC003 | 298694 | 7760685 | Qtz Sub-Crop Flaggy Creek (along strike) | 4.73 | 4.50 | 542 | 21 | 5 |
| LWC004 | 319550 | 7746711 | 0.04 | 0.50 | 3 | 7 | 5 | |
| LWC005 | 308944 | 7756137 | Qtz Sub-Crop | 0.01 | 1.00 | 152 | 8 | 132 |
| LWC006 | 312627 | 7759835 | Altered Granite-Outcrop | 0.00 | 0.50 | 26 | 24 | 10 |
| LWC010 | 312397.2 | 7752081.2 | Uncle Terry Prospect | 0.01 | 0.50 | 18 | 14 | 263 |
| LWC011 | 312395.2 | 7752078.3 | Uncle Terry Prospect | 0.01 | 0.50 | 18 | 15 | 68 |
| LWC012 | 312393.6 | 7752074.7 | Uncle Terry Prospect | 0.01 | 0.50 | 12 | 11 | 103 |
| LWC013 | 312387.5 | 7752066.6 | Uncle Terry Prospect | 0.03 | 0.90 | 124 | 37 | 652 |
| LWC014 | 312384.2 | 7752063 | Uncle Terry Prospect | 0.04 | 0.50 | 37 | 19 | 727 |
| LWC015 | 312376.2 | 7752052.9 | Uncle Terry Prospect | 0.00 | 0.50 | 2 | 2 | 159 |
| LWC016 | 312372 | 7752041.1 | Uncle Terry Prospect | 0.01 | 0.50 | 2 | 3 | 13 |
| LWC017 | 312366.3 | 7752029 | Uncle Terry Prospect | 0.00 | 0.50 | 2 | 2 | 21 |
| LWC018 | 312355.1 | 7752022.8 | Uncle Terry Prospect | 0.01 | 0.50 | 2 | 2 | 8 |
| LWC019 | 312354.5 | 7752022.7 | Uncle Terry Prospect | 0.01 | 0.50 | 2 | 2 | 5 |
| LWC020 | 312352.9 | 7752029 | Uncle Terry Prospect | 0.10 | 1.80 | 209 | 86 | 722 |
| LWC021 | 312348.7 | 7752028.5 | Uncle Terry Prospect | 0.08 | 0.50 | 13 | 11 | 646 |
| LWC022 | 312344 | 7752024.4 | Uncle Terry Prospect | 0.06 | 0.50 | 59 | 17 | 1035 |
| LWC023 | 312346.8 | 7752024.8 | Uncle Terry Prospect | 0.04 | 0.60 | 39 | 11 | 576 |
| LWC024 | 312342 | 7752019.4 | Uncle Terry Prospect | 0.05 | 2.40 | 276 | 6 | 544 |
| LWC025 | 312338.6 | 7752012.7 | Uncle Terry Prospect | 0.06 | 7.30 | 888 | 14 | 1305 |
| LWC026 | 312328.8 | 7752009.2 | Uncle Terry Prospect | 0.05 | 3.60 | 489 | 7 | 829 |
| LWC027 | 312420.4 | 7752160.3 | Uncle Terry Prospect | 0.01 | 0.50 | 5 | 2 | 10 |
| LWC028 | 312419.3 | 7752123.5 | Uncle Terry Prospect | 0.00 | 0.50 | 7 | 3 | 9 |
| LWC029 | 312416.8 | 7752118.8 | Uncle Terry Prospect | 0.00 | 0.50 | 7 | 2 | 13 |
| LWC030 | 312356.6 | 7752333.7 | Uncle Terry Prospect | 0.01 | 0.50 | 9 | 9 | 45 |
| LWC031 | 312142.9 | 7751991.6 | Uncle Terry Prospect | 0.01 | 0.50 | 4 | 9 | 5 |
| LWC032 | 312150.1 | 7752003 | Uncle Terry Prospect | 0.02 | 0.50 | 4 | 10 | 6 |
| LWC033 | 312150.3 | 7752005.2 | Uncle Terry Prospect | 0.01 | 0.50 | 17 | 6 | 5 |
| LWC034 | 312144.1 | 7751988.9 | Uncle Terry Prospect | 0.01 | 0.50 | 3 | 4 | 5 |
| LWC035 | 312142.1 | 7751977.4 | Uncle Terry Prospect | 0.01 | 0.50 | 3 | 3 | 5 |
| LWC036 | 312142.9 | 7751991.6 | Duplicate of LWC031 | 0.00 | 0.50 | 4 | 11 | 5 |
| LWC037 | 312410.2 | 7751152.8 | Uncle Terry Prospect | 0.01 | 0.50 | 2 | 2 | 5 |
ECR Minerals #ECR – Lithium-Tantalum-Niobium Stream Anomalies Identified at Lolworth, Queensland
ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce encouraging Lithium, Tantalum and Niobium anomalies identified within the first round of results from the recent stream sediment sampling campaign undertaken at the Lolworth Range project, North Queensland, Australia.
ECR Minerals plc has 100% ownership of three exploration tenements (EPM27901, EPM27902 and EPM27903), which covers the Lolworth Range, located 120km west of the famous gold district of Charters Towers. The project is being explored by ECR’s Australian wholly owned subsidiary Lux Exploration Pty Ltd (“LUX”).
HIGHLIGHTS
- Encouraging Anomalous Lithium (Li), Tantalum (Ta) and Niobium (Nb) results recognised in the first batch of stream samples to date.
- Li-Ta-Nb anomalies are present in streams draining from a common area.
- Still awaiting results from a further 212 stream sediment samples.
- Multiple un-sampled pegmatites observed throughout the tenements.
ECR CEO Andrew Haythorpe commented: “In our recent interview I stated how the early results from our 2022 Lolworth campaign were way in excess of my expectations. In addition to the visible gold reported across a number of samples, the fact that the first batch of stream samples contain significant levels of Lithium, Tantalum and Niobium is significant for ECR as an exploration company, as it adds a new dimension to our shareholder and investor proposition. It is still early days, but this first set of sample results is an exciting development for our Company.”
“I reiterate my statement from the recent interview: I believe we have laid some great foundations for our shareholders in 2022, and our Board are excited by the potential for further discoveries across our projects in 2023.”
The location of Lithium, Tantalum and Niobium anomalies within ECR’s Lolworth tenements are shown on the plan located here:
Figure 1: https://www.ecrminerals.com/images/2022/Fig1_Li-Ta-Nb-LUX_221222.png
MULTI-ELEMENT ANALYSIS
ECR reported multiple gold anomalies from the first round of stream sediment results on December 12 2022 (see RNS here ). In addition to assaying for gold, ECR undertook a 4-acid digest, ME-ICP analysis of these samples.
ME-ICP results show a number of the samples are high in Lithium (Li), Niobium (Ni) and Tantalum (Ta). 30 samples have a Lithium content greater than 1000 ppm (0.1%). 15 samples have a Niobium content greater than 500 ppm (0.05%) and 7 samples are greater than 300 ppm (0.03%) in Tantalum. All results have been statistically analysed, standardised and ranked into groups accordingly by a ‘standard deviation range’ from the average in the keys on the spatially plotted maps in Figure 1 (See above).
Li-Ta-Nb ANOMALOUS LOCATIONS
Figure 1 above shows clustered high Lithium to be concentrated within what is known as Gorge Creek. In particular, concentrations are particular present in drainages falling in from the east side of Gorge Creek.
Tantalum and Niobium minerals (such as Columbite-Tantalite) are often found together. Figure 1 above shows this to be the case with the main concentrations located in drainages related to a north flowing tributary to Glen Creek. Tantalum is also present in some of the drainages that contain Lithium within the Gorge Creek area.
The presence of Ta and Nb in the first batch of stream samples is significant, in that anomalous Ta and Nb is within watercourses that are draining the same mountain ridges where the Li-bearing watercourses are also sourced. Primary Li-Ta-Nb mineralisation is often sourced from LCT (lithium-Caesium-Tantalum) pegmatites. During the recent stream sampling campaign, pegmatitic rocks were seen and although it has not yet been established whether these pegmatite rocks contain Lithium, Tantalum or Niobium, the ECR Board have taken the decision to sample these pegmatites in next year’s exploration campaign. This sampling will be followed up alongside the reported gold anomalies.
TABLE 1: Stream Sampling results to date for Lithium (Li), Tantalum (Ta) and Niobium (Nb), arranged by decreasing Lithium values.
| SampleID | Easting (GDA94-Z55) | Northing (GDA94-Z55) | Li | Nb | Ta |
| ppm | ppm | ppm | |||
| LWSS153 | 314177 | 7750104 | 11300 | 16 | 10 |
| LWSS263 | 315668 | 7749611 | 10400 | 17 | 30 |
| LWSS260 | 314761 | 7749497 | 7640 | 21 | 50 |
| LWSS265 | 315862 | 7749728 | 7500 | 21 | 250 |
| LWSS299 | 312481 | 7752372 | 7030 | 19 | 30 |
| LWSS262 | 315110 | 7749620 | 6990 | 21 | 20 |
| LWSS310 | 307401 | 7750946 | 6370 | 37 | 30 |
| LWSS304 | 312678 | 7751527 | 4730 | 19 | 40 |
| LWSS211 | 313613 | 7751298 | 4720 | 17 | 20 |
| LWSS311 | 306543 | 7750203 | 4650 | 22 | 30 |
| LWSS155 | 315871 | 7750430 | 4540 | 12 | 200 |
| LWSS264 | 316057 | 7749541 | 4470 | 12 | 10 |
| LWSS149 | 314050 | 7749308 | 3800 | 16 | 120 |
| LWSS267 | 313740 | 7747905 | 3690 | 28 | 110 |
| LWSS157 | 315638 | 7750751 | 3640 | 10 | 80 |
| LWSS148 | 314497 | 7750420 | 3630 | 18 | 60 |
| LWSS198 | 308766 | 7749452 | 3390 | 21 | 20 |
| LWSS212 | 313254 | 7751090 | 3180 | 21 | 10 |
| LWSS259 | 314827 | 7749266 | 3000 | 27 | 100 |
| LWSS159 | 315634 | 7750949 | 2790 | 15 | 150 |
| LWSS213 | 314792 | 7751560 | 2790 | 7 | 10 |
| LWSS266 | 314210 | 7748585 | 2630 | 43 | 170 |
| LWSS147 | 314728 | 7750217 | 2550 | 10 | 10 |
| LWSS261 | 315704 | 7749178 | 2540 | 19 | 20 |
| LWSS214 | 315085 | 7751833 | 2430 | 12 | 680 |
| LWSS215 | 314111 | 7751469 | 2150 | 24 | 30 |
| LWSS151 | 313877 | 7749836 | 1800 | 21 | 60 |
| LWSS156 | 315934 | 7750591 | 1725 | 14 | 10 |
| LWSS199 | 309150 | 7750178 | 1265 | 23 | 10 |
| LWSS154 | 313066 | 7750055 | 1205 | 16 | 20 |
| LWSS158 | 315522 | 7750861 | 954 | 20 | 230 |
| LWSS302 | 311523 | 7749673 | 686 | 18 | 10 |
| LWSS300 | 312627 | 7751525 | 679 | 18 | 10 |
| LWSS303 | 312124 | 7749962 | 671 | 27 | 50 |
| LWSS150 | 313877 | 7749442 | 567 | 20 | 50 |
| LWSS016 | 315186 | 7757739 | 20 | 2000 | 1230 |
| LWSS161 | 314025 | 7751352 | 20 | 21 | 10 |
| LWSS001 | 313692 | 7754116 | 10 | 1450 | 480 |
| LWSS004 | 313731 | 7755304 | 10 | 1150 | 430 |
| LWSS010 | 314122 | 7755631 | 10 | 1345 | 390 |
| LWSS012 | 314429 | 7756692 | 10 | 1435 | 340 |
| LWSS013 | 314749 | 7757292 | 10 | 1020 | 310 |
| LWSS014 | 315088 | 7757059 | 10 | 662 | 280 |
| LWSS015 | 315398 | 7757471 | 10 | 691 | 240 |
| LWSS019 | 315000 | 7758786 | 10 | 701 | 230 |
| LWSS020 | 314845 | 7759325 | 10 | 555 | 230 |
| LWSS021 | 314880 | 7759692 | 10 | 896 | 220 |
| LWSS022 | 315123 | 7759928 | 10 | 796 | 220 |
| LWSS023 | 315423 | 7759960 | 10 | 698 | 190 |
| LWSS047 | 316619 | 7762170 | 10 | 589 | 180 |
| LWSS048 | 316799 | 7762572 | 10 | 600 | 150 |
| LWSS049 | 316520 | 7763146 | 10 | 411 | 140 |
| LWSS050 | 317024 | 7762572 | 10 | 332 | 120 |
| LWSS051 | 317701 | 7762773 | 10 | 344 | 120 |
| LWSS052 | 317687 | 7762589 | 10 | 433 | 120 |
| LWSS053 | 320247 | 7759063 | 10 | 394 | 100 |
| LWSS054 | 320614 | 7759154 | 10 | 280 | 100 |
| LWSS055 | 320485 | 7759341 | 10 | 232 | 90 |
| LWSS056 | 322200 | 7758347 | 10 | 338 | 80 |
| LWSS057 | 322298 | 7759119 | 10 | 357 | 80 |
| LWSS058 | 322401 | 7759109 | 10 | 315 | 70 |
| LWSS077 | 298690 | 7758966 | 10 | 203 | 50 |
| LWSS078 | 299057 | 7758698 | 10 | 179 | 50 |
| LWSS079 | 297703 | 7759449 | 10 | 153 | 50 |
| LWSS080 | 296668 | 7758625 | 10 | 146 | 50 |
| LWSS081 | 296770 | 7758311 | 10 | 163 | 50 |
| LWSS082 | 296660 | 7761733 | 10 | 148 | 50 |
| LWSS083 | 297026 | 7761835 | 10 | 210 | 50 |
| LWSS084 | 296931 | 7761606 | 10 | 132 | 40 |
| LWSS085 | 296445 | 7761243 | 10 | 77 | 40 |
| LWSS086 | 296497 | 7760905 | 10 | 157 | 40 |
| LWSS087 | 298260 | 7760330 | 10 | 106 | 40 |
| LWSS088 | 297121 | 7760196 | 10 | 168 | 40 |
| LWSS089 | 298907 | 7761224 | 10 | 168 | 40 |
| LWSS090 | 298814 | 7761280 | 10 | 78 | 30 |
| LWSS091 | 299379 | 7761447 | 10 | 105 | 30 |
| LWSS092 | 299499 | 7761370 | 10 | 79 | 20 |
| LWSS093 | 298823 | 7760665 | 10 | 94 | 20 |
| LWSS094 | 299023 | 7760941 | 10 | 110 | 20 |
| LWSS095 | 299113 | 7758233 | 10 | 26 | 10 |
| LWSS096 | 299042 | 7758162 | 10 | 26 | 10 |
| LWSS097 | 297749 | 7758092 | 10 | 56 | 10 |
| LWSS098 | 297587 | 7757887 | 10 | 31 | 10 |
| LWSS099 | 297343 | 7758123 | 10 | 19 | 10 |
| LWSS100 | 297855 | 7756964 | 10 | 44 | 10 |
| LWSS101 | 298880 | 7756788 | 10 | 42 | 10 |
| LWSS103 | 298827 | 7756012 | 10 | 37 | 10 |
| LWSS104 | 298923 | 7755998 | 10 | 89 | 10 |
| LWSS105 | 298380 | 7756231 | 10 | 7 | 10 |
| LWSS106 | 297597 | 7756893 | 10 | 12 | 10 |
| LWSS107 | 295140 | 7758331 | 10 | 41 | 10 |
| LWSS108 | 294982 | 7758582 | 10 | 19 | 10 |
| LWSS109 | 294996 | 7757753 | 10 | 34 | 10 |
| LWSS110 | 295174 | 7757482 | 10 | 5 | 10 |
| LWSS112 | 294249 | 7760316 | 10 | 5 | 10 |
| LWSS113 | 294516 | 7759731 | 10 | 88 | 10 |
| LWSS114 | 294601 | 7760538 | 10 | 36 | 10 |
| LWSS115 | 300995 | 7758832 | 10 | 18 | 10 |
| LWSS116 | 301122 | 7758691 | 10 | 5 | 10 |
| LWSS117 | 301316 | 7758712 | 10 | 67 | 10 |
| LWSS118 | 300925 | 7757017 | 10 | 78 | 10 |
| LWSS119 | 301164 | 7757644 | 10 | 33 | 10 |
| LWSS120 | 301614 | 7759087 | 10 | 21 | 10 |
| LWSS121 | 302020 | 7761157 | 10 | 49 | 10 |
| LWSS122 | 302221 | 7760593 | 10 | 14 | 10 |
| LWSS123 | 302598 | 7760783 | 10 | 13 | 10 |
| LWSS124 | 301584 | 7759673 | 10 | 26 | 10 |
| LWSS125 | 300997 | 7760547 | 10 | 42 | 10 |
| LWSS160 | 314212 | 7751253 | 10 | 35 | 10 |
| LWSS162 | 314191 | 7751930 | 10 | 25 | 10 |
| LWSS163 | 314060 | 7752103 | 10 | 11 | 10 |
| LWSS164 | 314120 | 7751648 | 10 | 41 | 10 |
| LWSS184 | 321213 | 7753612 | 10 | 17 | 10 |
| LWSS185 | 321160 | 7752942 | 10 | 21 | 10 |
| LWSS186 | 321273 | 7752575 | 10 | 5 | 10 |
| LWSS187 | 321527 | 7752498 | 10 | 9 | 10 |
| LWSS188 | 321604 | 7752635 | 10 | 5 | 10 |
| LWSS189 | 320156 | 7754105 | 10 | 56 | 10 |
| LWSS190 | 319775 | 7753062 | 10 | 5 | 10 |
| LWSS204 | 316062 | 7752448 | 10 | 5 | 10 |
| LWSS205 | 315876 | 7752635 | 10 | 31 | 10 |
| LWSS206 | 317254 | 7753680 | 10 | 30 | 10 |
| LWSS207 | 316998 | 7753627 | 10 | 58 | 10 |
| LWSS208 | 317012 | 7752528 | 10 | 72 | 10 |
| LWSS209 | 317656 | 7751602 | 10 | 50 | 10 |
| LWSS210 | 317846 | 7752778 | 10 | 34 | 10 |
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: | ||||
| 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 and can potentially receive up to US$2.7 million in aggregate across all licences
ECR Minerals #ECR – Multiple visible Gold occurrences and Pegmatites observed at Lolworth, Queensland
ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce the first round of results from the recent stream sediment sampling campaign undertaken at the Lolworth Range project, North Queensland, Australia.
ECR Minerals plc has 100% ownership of three exploration tenements (EPM27901, EPM27902 and EPM27903), which covers the Lolworth Range, located 120km west of the famous gold district of Charters Towers. The project is being explored by ECR’s Australian wholly owned subsidiary Lux Exploration Pty Ltd (“LUX”).
HIGHLIGHTS
- 21 out of 125 stream sediment samples to date are anomalous with gold, with results up to 152.5 ppm Au.
- 18 of the 125 samples show visible gold.
- Further samples are awaiting results including 212 stream sediment samples and 33 rock chips.
- Multiple pegmatites observed throughout the tenements
“I look forward to reporting back to you as soon as we receive the results from the remaining samples”
A Probability Plot showing the different gold population groupings can be found at the following link:
Figure 1: https://www.ecrminerals.com/images/2022/fig1_Lolworth_SS_Au_populations.png
An overview plan showing results (Au ppm) of stream samples completed to date can be found at the following link:
Figure 2: https://www.ecrminerals.com/images/2022/fig2_Lolworth_SS_1st_Results_091222.png
PROJECT OVERVIEW
The Lolworth Range project is located approximately 120km west of the historically famous Charters Towers gold district. ECR Minerals owns three Exploration tenements covering a total area of 964 km2. The area encompasses the Lolworth Range, a region comprising of similar rocks that host world class gold deposits such as Charters Towers and the historic Mt Leyshon Mine (>2.5 million ounces).
In 1987-1988, a stream sediment survey was undertaken by previous explorers ARI Ltd under permit ATP4855M. Their investigations identified numerous anomalous streams within Lolworth Range containing not only visible gold, but also minerals such as tin and tungsten. Research by ECR Minerals geologists established that no follow-up exploration of any note had been undertaken since the work under the ATP4855M permit, mostly likely due to the relatively inhospitable terrain. It is for this reason that ECR Minerals pegged this ground in 2021.
FIRST RESULTS FROM THE STREAM SAMPLING PROGRAM
ECR Minerals has received the results from 125 pan concentrate stream sediment samples which are representative of the first batch of samples submitted to the laboratory in late September 2022. A further 212 samples have been submitted recently with results expected in due course.
Visible gold has been observed in the concentrates of 18 out of the 125 samples (14.4% of the total), which is a better outcome than the results from previous exploration by ARI Ltd. in 1987-88.
All gold results to date have been arranged in increasing order of grade (Au ppm) and analysed by a cumulative probability plot (Figure 1). Results show the presence of five (5) considered gold populations, characterised by the following;
Group 1: Extreme values with a grade range between 5.5 and 152.5 ppm Au.
Group 2: Highly anomalous values with a grade range between 2.1 and 5.5 ppm Au.
Group 3: Mid anomalous values with a grade range between 0.6 and 2.1 ppm Au
Group 4: Low anomalous values with grades ranging between 0.13 and 0.6 ppm Au
Group 5: Considered background values of the surrounding region representing no anomaly with a grade range between 0.00 and 0.13 ppm Au. These represent approximately 83% of all sampling reported.
The ECR board considers samples that fall into groups 1, 2 and 3 to be anomalous in gold. Samples falling within group 4 are a low priority, however some follow-up sampling will be needed as a double check.
The anomalous areas of groups 1, 2 and 3 are notated on the plan map in (Figure 2).
In practice, sampling in the field has shown that not all negative laboratory results correlated with observed visible gold in the panning process. An example is that 8 out of the 89 samples falling into group 5 (background value) were notable for visible gold. This will be taken in consideration for follow up sampling campaigns.
TABLE 1: Gold population groups showing total samples with observed visible gold (VG):
| Population groups | Number of samples | Samples with reported VG |
| Group 1 | 5 | 3 |
| Group 2 | 12 | 3 |
| Group 3 | 4 | 3 |
| Group 4 | 15 | 1 |
| Group 5 | 89 | 8 |
| TOTAL | 125 | 18 |
TABLE 2: All gold results considered anomalous from Groups 1, 2 and 3:
| SAMPLE | Easting (GDA94-Z55) | Northing (GDA94-Z55) | Au ppm | Visible Gold? |
| LWSS001 | 313692 | 7754116 | 5.88 | y |
| LWSS012 | 314429 | 7756692 | 1.42 | y |
| LWSS090 | 298814 | 7761280 | 2.30 | y |
| LWSS092 | 299499 | 7761370 | 0.93 | n |
| LWSS093 | 298823 | 7760665 | 2.17 | n |
| LWSS094 | 299023 | 7760941 | 2.38 | y |
| LWSS096 | 299042 | 7758162 | 2.26 | y |
| LWSS149 | 314050 | 7749308 | 21.90 | y |
| LWSS151 | 313877 | 7749836 | 0.85 | y |
| LWSS155 | 315871 | 7750430 | 5.88 | n |
| LWSS160 | 314212 | 7751253 | 1.93 | y |
| LWSS161 | 314025 | 7751352 | 152.50 | y |
| LWSS207 | 316998 | 7753627 | 2.67 | n |
| LWSS211 | 313613 | 7751298 | 7.69 | n |
| LWSS263 | 315668 | 7749611 | 4.43 | n |
- (Visible gold recorded in field sampling: y=Yes n=No)
NEXT STEPS
These first results from Lolworth Range lead the Board to believe that the area is highly prospective for gold, increasing both our knowledge of the region and confidence in the overall project potential. The sampling campaign has built considerably on the limited past exploration by ARI Ltd in 1987-88. ECR Technical Director Adam Jones visited the project in early November 2022, and in his field inspection he noted multiple pegmatites throughout the tenements. Previous exploration work had noted Tungsten (W) and Tin (Sn) mineralisation within parts of the region and armed with this knowledge, further analysis is being conducted on all samples to identify potential pathfinders for critical minerals.
There are another 212 stream sediment samples currently being analysed in the laboratory. In addition, 33 rock chips taken from observed mineralised veining at the ‘Uncle Terry’ historical prospect are also being analysed.
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: | ||||
| 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 and can potentially receive up to US$2.7 million in aggregate across all licences
ECR Minerals #ECR – Equity Placing to Raise GBP900,000
ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce that the Company has today raised £900,000 by way of a placing and direct subscription.
SI Capital Limited has today placed on behalf of the Company 66,666,653 new ordinary shares in the Company (“Placing Shares”) at a price of 0.9 pence per share to raise gross proceeds of c.£600,000 (the “Placing“), subject only to Admission; and the Company has also raised a further c£300,000 by way of the issue of 33,333,333 new ordinary shares (“Subscription Shares”) at a price of 0.9p per share, subject only to receipt of the funds and Admission.
Both the Placing Shares and the Subscription Shares were also accompanied by the issue of one warrant to subscribe for one ordinary share in the Company for each new share issued (the “New Warrants”). When issued, the New Warrants will be exercisable at any time, for a period of 2 years from the date of admission of the Placing Shares and the Subscription Shares (as applicable) at an exercise price of 1.5p each.
The monies raised in this fundraise will be used by the Company as follows:
Victoria assets:
- Progress work on the Blue Moon project and other Bailieston assets.
- Progress work on the Creswick project following the results of the re-assay of diamond drill core announced recently.
- Commence initial studies at the Tambo project.
North Queensland assets:
- Progress work on the Lolworth Project, where an extensive sampling campaign has recently been completed.
- Progress work at the Hurricane Project following the recent announcement of a conditional option to acquire 100% of Placer Gold, owner of the Hurricane Project located west of Cairns in the Hodgkinson Province, NE Queensland.
And for general working capital
Application will be made for the Placing Shares and the Subscription Shares to be admitted to trading on AIM (“Admission“) and it is expected that Admission will become effective on or around 19 December 2022. The Placing Shares and the Subscription Shares will rank pari passu with the existing ordinary shares. Upon Admission, ECR’s issued ordinary share capital will comprise 1,167,737,145 ordinary shares of 0.001p. This number will represent the total voting rights in the Company, and, following admission may be used by shareholders as the denominator for the calculation by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority’s Disclosure and Transparency Rules.
ECR CEO Andrew Haythorpe commented: “I am delighted to announce that we have received strong support from new and existing investors following my recent visit to London to attend the 121 Mining Investment and Mines and Money events. As outlined above, the funds raised will be used to progress our projects at Victoria and Queensland and also to explore new opportunities.”
“I look forward to reporting further progress on our project portfolio very shortly.”
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (“MAR”), AND IS DISCLOSED IN ACCORDANCE WITH THE COMPANY’S OBLIGATIONS UNDER ARTICLE 17 OF MAR.. IN ADDITION, MARKET SOUNDINGS (AS DEFINED IN MAR) WERE TAKEN IN RESPECT OF THE MATTERS CONTAINED IN THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN PERSONS BECAME AWARE OF SUCH INSIDE INFORMATION AS PERMITTED BY MAR. THAT INSIDE INFORMATION IS SET OUT IN THIS ANNOUNCEMENT AND HAS BEEN DISCLOSED AS SOON AS POSSIBLE IN ACCORDANCE WITH PARAGRAPH 7 OF ARTICLE 17 OF MAR. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THE INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION IN RELATION TO THE COMPANY AND ITS SECURITIES
FOR FURTHER INFORMATION, PLEASE CONTACT:
| ECR Minerals plc | Tel: +44 (0) 20 7929 1010 | |||
| David Tang, Non-Executive Chairman
Andrew Haythorpe, CEO |
||||
| Email: | ||||
| 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 and can potentially receive up to US$2.7 million in aggregate across all licences
ECR Minerals #ECR – Andrew Scott, Andrew Haythorpe & Adam Jones discuss Blue Moon & other projects
ECR’s Andrew Scott, Andrew Haythorpe & Adam Jones discuss today’s developments at Blue Moon & other projects. Andrew Haythorpe describes the consistent predictable grades across Blue Moon and says today’s hole assay is just another step in that direction. Adam then covers the drilling campaign, following the 2019 RC drilling campaign. The current hole is 150m to the west, and with holes 100-200m apart the results are promising, with bleaching on the core consistent with the structure. Currently three holes have been completed 3 holes, if mineralisation continues then “happy days”, a possible resource. Assays from the remaining holes should be back in early December, so. the company will announce next steps and next drill holes then. Plenty more to look forward to as well – Omeo hasn’t even been touched yet, plenty of blue sky potential, Hurricane mineralisation on surface, Lolworth assays pending from stream sediment and rock chips, field team back out there in a few days. All field samples now with the labs, looking like a good Christmas and strong start to 2023.
