Additional Creswick results raise gold grades
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
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Hole ID |
Total depth (metres) |
Significant intercepts in preliminary results |
Significant intercepts following bulk sample testing |
Concentrate weight (kg) |
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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:
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ECR Minerals plc |
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Tel: +44 (0) 20 7929 1010 |
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David Tang, Non-Executive Chairman Nick Tulloch, Managing Director Andrew Scott, Director |
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Email: |
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Website: www.ecrminerals.com |
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WH Ireland Ltd |
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Tel: +44 (0) 207 220 1666 |
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Nominated Adviser Katy Mitchell / Andrew de Andrade |
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SI Capital Ltd |
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Tel: +44 (0) 1483 413500 |
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Broker |
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Nick Emerson |
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Novum Securities Limited |
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Tel: +44 (0) 20 7399 9425 |
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Broker Jon Belliss |
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Brand Communications |
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Tel: +44 (0) 7976 431608 |
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Public & Investor Relations |
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Alan Green |
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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.
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