Further Positive Trenching Results from Itogon ...

Further Positive Trenching Results from Itogon Gold Project, Philippines

ECR Minerals plc

ECR MINERALS plc
(“ECR Minerals”, “ECR” or the “Company”)

AIM: ECR
US OTC: MTGDY

FURTHER POSITIVE TRENCHING RESULTS FROM
ITOGON GOLD PROJECT, PHILIPPINES

LONDON: 21 JULY 2015 - The directors of ECR Minerals plc (the “Directors”) are pleased to announce further positive results from trenching and test pitting at the Itogon epithermal gold project, northern Philippines. Mineralised intervals from the trenching and test pitting are presented in tables 1 and 2 below, which comprise the complete results of the trenching and test pitting programme. The results from trenches TR01, TR03, TR03A, TR04, TR06, TR12, TR13 and all test pits have not previously been reported. Additional results have also been reported in respect of TR05.

Stephen Clayson, Chief Executive Officer of ECR, commented:

“We are pleased to report more strong results from trenching at Itogon, and to present the complete assay results of the programme in the tables below. As previously announced, the results reflect the presence of a widespread supergene enriched oxide gold blanket occurring from surface in the main prospect area at Itogon. It is also apparent from the previously announced results of drilling by ECR that deeper level exploration targets exist below the supergene blanket.

Fieldwork in connection with the planned NI43-101 technical report is expected to commence this week, and will focus on integrating all available data into a geological model which will underpin the planned initial NI43-101 compliant resource and determine the direction of future exploration.”

A set of maps pertaining to the exploration results reported today may be viewed at: http://www.ecrminerals.com/itogon-drill-holes-trenching-test-pitting-july2015

TABLE 1:
WEIGHTED AVERAGE GRADE OF ALL SAMPLES
ECR TRENCHING PROGRAMME 2015
ITOGON GOLD PROJECT, PHILIPPINES
Trench   Width   Average Grade
  (m)   (g/t gold)
Trench 01   18   0.05
Trench 02   10   1.39
Trench 03   18   0.55
Trench 03A   8   1.63
Trench 04   67   1.13
Trench 05   72   1.28
Trench 06   27   1.01
Trench 07   47   0.36
Trench 07A   8   0.94
Trench 08   27   0.29
Trench 09   97.6   2.57
Trench 12   20   1.54
Trench 13   11   4.36
 
Total   430.60   1.38
   
TABLE 2:
MINERALISED INTERVALS (0.3g/t gold lower cut-off, maximum 1m internal waste)
ECR TRENCHING PROGRAMME 2015, ITOGON GOLD PROJECT, PHILIPPINES
                     
Trench ID   From   To   Width   Average Grade   Including
      (m)   (g/t Au)  
TR02   0   10   10   1.39   4m at 1.73 g/t from 0m, 2m at 1.67 g/t from 8m
 
Trench ID From To   Width   Average Grade   Including
      (m)   (g/t Au)  
TR03   0   18   18   0.55    
 
Trench ID From To   Width   Average Grade   Including
      (m)   (g/t Au)  
TR03A   0   8   8   1.63   1m at 2.50 g/t from 0m, 1m at 3.45 g/t from 1m, 1m at 2.02 g/t from 3m, 1m at 1.22 g/t from 4m, 1m at 1.17 g/t from 5m, 1m at 1.11 g/t from 6m, 1m at 1.10 g/t from 7m
                     
Trench ID From To   Width   Average Grade   Including
      (m)   (g/t Au)  
TR04   1   67   66   1.15   1m at 1.22 g/t from 1m; 1m at 2.84 g/t from 2m; 1m at 2.27 g/t from 3m; 1m at 3.61 g/t from 4m; 1m at 1.66 g/t from 5m; 1m at 4.65 g/t from 6m; 1m at 3.90 g/t from 7m; 1m at 3.00 g/t from 8m; 1m at 1.64 g/t from 9m; 4m at 1.25 g/t from 19m; 4m at 1.63 g/t from 23m; 4m at 1.93 g/t from 27m; 4m at 1.23 g/t from 31m; 1m at 1.11 g/t from 56m; 1m at 1.12 g/t from 60m
                     
Trench ID From To   Width   Average Grade   Including
      (m)   (g/t Au)  
TR05   0   69   69   1.33   4m at 1.39 g/t from 4m; 4m at 1.40 g/t from 20m; 4m at 1.33 g/t from 24m; 4m at 1.50 g/t from 28m; 5m at 1.83 g/t from 36m; 1m at 1.22 g/t from 41m; 1m at 1.76 g/t from 42m; 1m at 3.83 g/t from 43m; 1m at 4.62 g/t from 44m; 1m at 1.57 g/t from 45m; 1m at 1.11 g/t from 46m; 1m at 4.32 g/t from 48m; 1m at 2.18 g/t from 49m; 1m at 1.32 g/t from 50m; 1m at 2.01 g/t from 51m; 1m at 2.07 g/t from 57m; 1m at 1.47 g/t from 58m; 1m at 1.65 g/t from 59m; 1m at 1.29 g/t from 61m; 1m at 1.79 g/t from 63m; 1m at 3.79 g/t from 64m; 1m at 3.27 g/t from 66m
                     
Trench ID From To   Width   Average Grade   Including
      (m)   (g/t Au)  
TR06   0   27   27   1.01   1m at 1.29 g/t from 7m; 2m at 1.28 g/t from 15m; 2m at 1.22 g/t from 17m; 2m at 2.06 g/t from 19m; 4m at 1.87 g/t from 23m
                     
Trench ID From To   Width   Average Grade   Including
      (m)   (g/t Au)  
TR07   5   6   1   0.45    
  17   20   3   0.77    
  25   28   3   0.71   1m at 1.44 g/t from 25m
  31   35   4   0.77   1m at 1.80 g/t from 33m
  37   38   1   0.39    
  43   47   4   0.90    
                     
Trench ID From To   Width   Average Grade   Including
      (m)   (g/t Au)  
TR07A   0   8   8   0.94   4m at 1.74 g/t from 4m
                     
Trench ID From To   Width   Average Grade   Including
      (m)   (g/t Au)  
TR08   2   10   8   0.48   1m at 1.11 g/t from 9m
  12   15   3   0.43    
  24   26   2   0.47    
                     
Trench ID From To   Width   Average Grade   Including
      (m)   (g/t Au)  
TR09   1   61   60   2.43   1m at 5.33 g/t from 2m; 1m at 2.34 g/t from 7m; 1m at 16.74 g/t from 10m; 1m at 1.14 g/t from 13m; 1m at 2.44 g/t from 18m; 1m at 1.18 g/t from 21m; 1m at 1.21 g/t from 25m; 1m at 42.29 g/t from 28m; 1m at 8.78 g/t from 29m; 1m at 1.32 g/t from 31m; 1m at 4.51 g/t from 34m; 1m at 5.11 g/t from 40m; 1m at 1.24 g/t from 41m; 1m at 2.32 g/t from 47m; 1m at 1.60 g/t from 48; 1m at 1.23 g/t from 49m; 1m at 2.27 g/t from 52m; 4m at 6.81 g/t from 53m
TR09   69   97.6   28.6   3.61   2m at 1.23 g/t from 77m; 1m at 1.15 g/t from 79; 1m at 2.78 from 81m; 1m at 79.67 g/t from 84m; 2.6m at 1.07 g/t from 95m
                     
Trench ID From To   Width   Average Grade   Including
      (m)   (g/t Au)  
TR12   0   30   30   1.54   4m at 1.27 g/t from 0m; 4m at 1.69 g/t from 4m; 4m at 1.78 g/t from 12m; 4m at 1.76 g/t from 16m; 4m at 2.54 g/t from 20m; 1m at 1.63 g/t from 24m; 1m at 1.28 g/t from 25m
                     
Trench ID From To   Width   Average Grade   Including
      (m)   (g/t Au)  
TR13   0   9   9   3.53   1m at 6.02 g/t from 0m; 1m at 5.66 g/t from 1m; 1m at 1.39 g/t from 2m; 1m at 2.41 g/t from 3m; 1m at 5.81 g/t from 5m; 1m at 1.75 g/t from 6m; 1m at 7.46 g/t from 7m
                     
Test Pit ID From To   Width   Average Grade   Including
      (m)   (g/t Au)  
TR01 TP03   0   1   1   0.46    
TR02 TP01   0   1   1   0.86   1.44 g/t from lower sample
TR02 TP02   0   1   1   0.56    
TR02 TP03   0   1   1   1.06   1.24 g/t from upper sample
TR03 TP01   0   1   1   0.46    
TR03 TP02   0   1   1   1.38   1.84 g/t from lower sample
TR04 TP01   0   1   1   0.32    
TR04 TP02   0   1   1   2.23   2.61 g/t from upper sample and 1.86 g/t from lower sample
TR06 TP02   0   1   1   1.40   1.41 g/t from upper sample and 1.39 g/t from lower sample
     

NB:

Mineralised intervals from trenches presented in Table 2 were calculated as weighted averages using a lower cut-off grade of 0.30 g/t gold and a maximum of 1m internal dilution. The grade of each single sample which exceeded 1.00 g/t gold has been reported separately. Test pits were sampled by two separate 1m channel samples with a minimum 1m difference in elevation. No top cut has been applied in calculating the mineralised intervals in tables 1 and 2, and all widths given are apparent width.

QA/QC

A secure chain of custody was maintained in the transport and storage of all samples, which were shipped to and analysed by Intertek Testing Services Philippines, Inc. (“Intertek”), an internationally accredited independent analytical laboratory in Metro Manila. Sampling was carried out under geological supervision. Upon arrival at Intertek samples were sorted, dried (if necessary), crushed, split and pulverised. The method of analysis for gold was fire assay (50g charge) with AAS finish.

QA/QC measures including the use of certified standards were implemented by ECR and separately by Intertek in relation to the analysis of the samples. The assay data reported is considered acceptable in the context of these measures. Assay values have been expressed in this news release as g/t gold but are received from Intertek expressed as ppm gold. For the purposes hereof ppm gold and g/t can be considered equivalent.

The contents of this announcement have been reviewed by Dr Chris Wilson PhD, FAusIMM (CP), FSEG, a geologist with the consultancy Exploration Alliance, which has been engaged by ECR in connection with the Itogon project.

ABOUT ECR

ECR is a mineral exploration and development company with the right to earn a 50% interest in the Itogon epithermal gold project in the Philippines. Itogon is an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines.

ECR has a 100% interest in the SLM gold project in La Rioja Province, Argentina. Exploration at SLM has focused on identifying small tonnage mesothermal gold deposits which may be suitable for relatively near term production.

FOR FURTHER INFORMATION PLEASE CONTACT:

ECR Minerals plc Tel: +44 (0)20 7929 1010
William (Bill) Howell, Non-Executive Chairman
Stephen Clayson, Director & CEO
Richard (Dick) Watts, Technical Director
 

Email: info@ecrminerals.com

Website: www.ecrminerals.com

 
Cairn Financial Advisers LLP Tel: +44 (0)207 148 7900
Nominated Adviser
Emma Earl/Jo Turner
 
Daniel Stewart & Company plc Tel: +44 (0)20 7776 6550
Broker
Martin Lampshire

FORWARD LOOKING STATEMENTS

This announcement may include forward looking statements. Such statements may be subject to a number of known and unknown risks, uncertainties and other factors that could cause actual results or events to differ materially from current expectations. There can be no assurance that such statements will prove to be accurate and therefore actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking statements. Any forward looking statements contained herein speak only as of the date hereof (unless stated otherwise) and, except as may be required by applicable laws or regulations (including the AIM Rules for Companies), the Company disclaims any obligation to update or modify such forward looking statements as a result of new information, future events or for any other reason.

GLOSSARY

AAS:       atomic absorption spectroscopy
 
assay: a test performed on a sample of ores or minerals to determine the amount of valuable metals contained
 
NI43-101: Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects
 
epithermal: mineralisation produced by near surface hydrothermal fluids related to igneous activity; originally defined as having formed in the range 50-300°C
 
g: grams
 
g/t: grams per tonne
 
m: metre
 
oxidation: a chemical reaction caused by exposure to oxygen that results in a change in the chemical composition of a mineral
 
oxide gold blanket: said of gold that has been liberated from sulphides during the process of oxidation to form a surficial, sub-horizontal to horizontal zone or ‘blanket’
 
ppm: parts per million
 
supergene enrichment: said of a mineral deposit formed at or just below the Earth’s surface, generally through downward percolation of rainwater, resulting in liberation of gold through oxidation of sulphides, and its concentration and enrichment within a given horizon
 
t: tonne
 
test pit: a pit dug through the upper parts of the soil profile or overburden to expose bedrock veins and structures
 
trench: a long, narrow excavation dug through the upper parts of the soil profile or overburden to expose bedrock veins and structures
 

Companies

ECR Minerals (ECR)
UK 100
FTSE quotes by TradingView

Latest directors dealings

All directors dealings today