ECR MINERALS
plc
("ECR Minerals", "ECR" or the
"Company")
Additional Creswick drilling
results raise overall gold grades
ECR
Minerals plc (LON: ECR), the exploration and development company
focused on gold in Australia, is pleased to provide additional
results from its drilling programme at the Davey Road site in its
Creswick tenement. These results comprise the bulk sample
testing following the preliminary results announced on 5 February
2024.
HIGHLIGHTS
●
Significant increase in gold grades overall with
the best result now 41.03 g/t Au over 1 metre.
●
Several other significant results including 10.26
g/t Au, 8.46 g/t Au and 6.22 g/t Au.
● Importantly, the bulk sample results show contiguous gold over
multiple metres - of particular note, approximately 4.4 g/t Au
average over 3 metres in hole 1 (between 36 - 39 metres
depth).
●
Bulk sample testing has indicated both greater
prevalence and higher grades of gold.
● This phase of drilling completed on time and on budget and
second phase of drilling at Kuboid Hill, Creswick now
underway.
Bulk samples from the 20-30kg
'leftovers' from the preliminary drilling results were concentrated
in a dry blower with subsequent panning consistently showing
visible gold. Pan concentrate samples ranged in weight between
0.29kg and 1.79kg. A total of 32 samples were selected for
testing from 1 metre intervals that showed anomalous
gold.
The rig is now back on site at
Kuboid Hill as the second phase of the Company's drilling programme
in Creswick gets fully underway. Further announcements will
be made in due course.
Details of current drilling and significant intercepts >
0.5g/t
Hole ID
|
Total depth (metres)
|
Significant intercepts in preliminary
results
|
Significant intercepts following bulk sample
testing
|
Concentrate weight (kg)
|
CDYRC001
|
66
|
-
1m @ 2.53 g/t Au from
6m
-
1m @ 2.42 g/t Au from
37m
1m @ 0.79 g/t Au from
38m
1m @ 0.53 g/t Au from
29m
1m @ 0.50 g/t Au from
30m
-
|
1m @ 2.03 g/t Au from
5m
41.03 g/t Au
1m @ 0.62 g/t Au from
26m
8.46 g/t Au
1.62 g/t Au
0.64 g/t Au
0.85 g/t Au
1m @ 3.19 g/t Au from
36m
|
0.59
0.54
1.24
0.92
0.89
0.53
0.94
1.04
|
CDYRC002
|
84
|
No significant intercepts
reported
|
No significant intercepts
reported
|
|
CDYRC003
|
84
|
No significant intercepts
reported
|
1m @ 0.63 g/t Au from 19m
|
0.57
|
CDYRC004
|
84
|
No significant intercepts
reported
|
1m @ 0.88 g/t Au from 54m
1m @ 3.47 g/t Au from 55m
|
1.24
1.30
|
CDYRC005
|
54
|
1m @ 23.39 g/t Au from
14m
1m @ 1.01 g/t Au from
15m
|
10.26 g/t Au
0.41 g/t Au
|
1.79
0.86
|
CDYRC006
|
84
|
No significant intercepts
reported
|
No significant intercepts
reported
|
|
CDYRC007
|
66
|
No significant intercepts
reported
|
1m @ 6.22 g/t Au from 12m
|
1.09
|
Nick Tulloch Managing Director said:
"These results
at Davey Road are very promising indeed. As we anticipated,
bulk sample analysis has provided far greater clarity on the
prospect as well as indicating contiguous gold over multiple metres
in depth. The higher grades now being indicated support our
view that Creswick has the potential to become a very significant
asset for our company. Drilling was completed on time and on
budget and we have now commenced our follow-on drilling programme
at nearby Kuboid Hill. We have much to look forward to from
that campaign as we develop our ongoing analysis and understanding
of the wider location."
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
Nick Tulloch, Managing
Director
Andrew Scott, Director
|
|
|
|
|
|
|
|
Email:
info@ecrminerals.com
|
|
|
|
Website:
www.ecrminerals.com
|
|
|
|
|
|
|
|
WH
Ireland Ltd
|
|
Tel: +44 (0) 207 220 1666
|
|
Nominated Adviser
Katy Mitchell / Andrew de
Andrade
|
|
|
|
|
|
|
|
SI
Capital Ltd
|
|
Tel: +44 (0) 1483 413500
|
|
Broker
|
|
|
|
Nick Emerson
|
|
|
|
|
|
|
|
Novum Securities Limited
|
|
Tel: +44 (0) 20 7399 9425
|
|
Broker
Jon Belliss
|
|
|
|
|
|
|
|
Brand Communications
|
|
Tel: +44 (0) 7976 431608
|
|
Public & Investor
Relations
|
|
|
|
Alan Green
|
|
|
|
|
|
|
| |
ABOUT ECR MINERALS PLC
ECR Minerals is a mineral
exploration and development company. ECR's wholly owned Australian
subsidiary Mercator Gold Australia Pty Ltd ("MGA") has 100%
ownership of the Bailieston and Creswick gold projects in central
Victoria, Australia, has eight active exploration tenements and two
in application (Ballarat and Tambo).
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 Lolworth Range, Queensland,
Australia. The Company has also submitted a license application at
Kondaparinga which is approximately 120km2 in area and
located within the Hodgkinson Gold Province, 80km NW of Mareeba,
North Queensland.
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.