FURTHER POSITIVE ASSAY RESULTS RECEIVED FROM ROCK CHIP SAMPLING AT SIERRA DE LAS MINAS GOLD PROJECT IN ARGENTINA
FURTHER POSITIVE ASSAY RESULTS RECEIVED FROM ROCK CHIP SAMPLING AT SIERRA DE LAS MINAS GOLD PROJECT IN ARGENTINA
ECR Minerals plc
ECR MINERALS plc
(“ECR Minerals”, “ECR” or the “Company”)
AIM: ECR
US OTC: MTGDY
FURTHER POSITIVE ASSAY RESULTS RECEIVED FROM ROCK CHIP SAMPLING AT SIERRA DE LAS MINAS GOLD PROJECT IN ARGENTINA
LONDON: 10 FEBRUARY 2014
ECR Minerals plc is pleased to announce further positive assay results from initial rock chip sampling in the southern portion of the Sierra de las Minas (“SLM”) gold project area during January 2014.
Assay results for all samples sent for analysis during January 2014 are disclosed in the table below (results for samples 1-8 previously disclosed).
| Sample | Type | Weight | Assay 1 | Assay 2 | |||||||
| Unit | kg | ppm Au | g/t Au | ||||||||
| MDL | 0.01 | 0.005 | 0.9 | ||||||||
| 1 | Rock | 4.20 | 0.662 | ||||||||
| 2 | Rock | 3.45 | >10 | 70.7 | |||||||
| 3 | Rock | 1.75 | 1.045 | ||||||||
| 4 | Rock | 2.60 | >10 | 67.9 | |||||||
| 5 | Rock | 4.45 | >10 | 23.7 | |||||||
| 6 | Rock | 3.75 | >10 | 272.9 | |||||||
| 7 | Rock | 2.80 | >10 | 16.5 | |||||||
| 8 | Rock | 4.20 | 1.045 | ||||||||
| 9 | Rock | 1.45 | 2.370 | ||||||||
| 10 | Rock | 2.50 | 9.819 | ||||||||
Samples 9 and 10 were rock chip samples of outcropping quartz vein material, as were samples 1-8. The location of each sample is shown on the map which may be viewed at:
http://www.ecrminerals.com/images/stories/project/argentina/Access%20Fig.%202.jpg
NB: for the purposes of this news release ppm Au and g/t Au can be considered equivalent.
For further details of the work programme which has generated the results disclosed in the table, please refer to the Company’s announcement of 6 February 2014.
Assay procedure
A secure chain of custody was maintained in the transport and storage of all samples, which were shipped to and assayed by Acme Analytical Laboratories in Santiago, Chile, an internationally accredited analytical laboratory. A quality control system using blanks, duplicates and standards is in use at the laboratory. With reference to the table above, the method of analysis for values in the column headed “Assay 1” was fire assay with AAS finish. The method of analysis for values in the column headed “Assay 2” was fire assay with gravimetric finish. A re-assay with gravimetric finish was carried out where results exceeded the upper detection limit for AAS finish (10 ppm Au).
Stephen Clayson, Chief Executive Officer of ECR, commented:
“The additional assay results announced today represent significant gold grades and are therefore encouraging, particularly as the samples were obtained from a different prospect area to those for which assay results were announced last week.
The SLM project area contains numerous gold prospects and current activities are aimed at prioritising those that are found in the southern part of the project area, where ECR’s wholly owned subsidiary Ochre Mining SA, which has 100% ownership of the SLM project, has carried out little previous exploration.
Reconnaissance mapping and sampling continues this month, and in due course further efforts can be focused on the most promising prospects. In line with the stated strategy for the SLM project, the prospects deemed most promising will be those that appear most likely to be suitable for early advancement to production, subject to further exploration success and to a positive economic evaluation being completed once all relevant factors are known.”
The contents of this announcement have been reviewed by Richard Watts B.Eng. Mining, Fellow of the South African Institute of Mining & Metallurgy, a director of the Company with more than 40 years of experience in the mining industry.
ABOUT ECR
ECR is a mineral exploration and development company with, among other interests, the right to earn a 50% interest in the Itogon gold-silver project in the Philippines. Itogon is an advanced exploration project located in a gold and copper mining district on the island of Luzon in the north of the Philippines, and benefits from an extensive historical dataset.
ECR has a 100% interest in the Sierra de las Minas gold project in La Rioja Province, Argentina, the exploration strategy for which is to delineate multiple high grade, low tonnage deposits suitable for advancement to production on a relatively low capital, near term basis.
ECR holds a substantial minority stake in THEMAC Resources Group Ltd (TSX-V: MAC), which is focused on the development of the Copper Flat copper-molybdenum-gold-silver porphyry project in New Mexico, USA.
FOR FURTHER INFORMATION PLEASE CONTACT:
| ECR Minerals plc | Tel: +44 (0)20 7929 1010 | |
| Paul Johnson, Non-Executive Chairman | ||
| Stephen Clayson, Director & Chief Executive Officer | ||
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Email: info@ecrminerals.com |
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Website: www.ecrminerals.com |
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| Daniel Stewart & Company plc | Tel: +44 (0)20 7776 6550 | |
| David Hart/James Thomas | ||
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.
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GLOSSARY |
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| AAS: | atomic absorption spectroscopy | |||
| Au: | gold | |||
| g/t: | grams per tonne | |||
| kg: | kilogram | |||
| km: | kilometre | |||
| m: | metre | |||
| MDL: | method detection limit | |||
| ppm: | parts per million | |||
| t: | tonne |
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