Gold mineralisation confirmed at Blue Mountain
Summary by AI BETAClose X
This announcement contains inside information for the purposes of Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310.
15 September 2025
ECR MINERALS PLC
("ECR Minerals", "ECR" or the "Company")
Extensive zones of gold mineralisation confirmed in early drilling at Blue Mountain
ECR Minerals plc (AIM: ECR), the gold exploration and development company focused on Australia, announces the first set of gold results from drill sampling at the Lower Patterson area within the Blue Mountain gold project, Queensland, Australia (the "Blue Mountain Project").
HIGHLIGHTS
· Initial drilling results confirm extensive zones of consistent gold mineralisation at the Lower Patterson prospect - an area not previously mined.
· Peak results include 1m estimated @ 1.14 g per b.c.m and 1m estimated @ 1.07 g per b.c.m.
· 17 samples estimated above 0.15 g per b.c.m demonstrating wide continuity across three drilled sections.
· Results highlight the increasing scale and potential of the gold-bearing gravels at the Blue Mountain Project - particularly as new areas of gold mineralisation are identified.
Sampling Programme
An initial programme of vertical reverse circulation drill hole traverses was completed at the Blue Mountain Project in the Lower Patterson area (see Figure 1). Five traverses were drilled, consisting of 36 holes, each having an individual depth ranging from approximately 5 to 12 metres, with a total combined depth of 291 metres. Samples were collected at one-metre intervals from surface to basement contact, with each 115 mm-diameter sample representing approximately 10 kg in 0.01 cubic metres of material. The purpose of this type of drilling is not to recover a representative sample in alluvial terrains but to confirm the presence of gold (visually) followed up by assays to detect very fine-grained gold. Assay results are only indicative of gold content.
Each sample was panned down to a representative concentrate of around 100 grammes. Visible gold was logged and visually estimated. Concentrate samples were then analysed at OSLS-Bendigo for total gold content, reported in milligrams per sample. Results were converted to an estimated bank cubic metre (b.c.m) equivalent to using a factor of 96.27 samples per b.c.m.
The strongest mineralised intervals (≥0.15 g per b.c.m) were recorded in three drill sections, including total aggregated widths of 66 metres in Section 1, 11 metres in Section 2, and 81 metres across four zones in Section 3. These results are considered to highlight the very extensive scale of gold-bearing gravels within the Lower Patterson area (See Figure 1).
The objective of this initial drill programme was to map out the extent and scale of the mineralised alluvial zones. Based on the results received, the exercise is considered by management to have been highly successful. Noting that the Lower Patterson area has not previously been mined, this represents a potential extension of the Blue Mountain Project. Furthermore, the current gold price levels and the shallow depths at Blue Mountain may create further extension possibilities as lower cut off grades may now be economic.
The distribution of gold particles within the alluvial gravels at the Blue Mountain Project is currently not fully known. As drill samples represent small volumes of material, these initial results cannot be used for resource estimation or provide a definitive indication of grade variability until other work has been performed, including follow-up wash plant trials which are designed to determine the true gold content and potentially verify the drilling grades.
Figure 1: Plan of Lower Patterson drill traverses showing extent of gold ≥ 0.15 g b.c.m
Next Steps
Ø ECR has drilled two other similar-sized creek flats at the Blue Mountain Project, namely the Denny's Creek and Upper Kariboe areas, with results expected likely in October.
Ø The Company has received external interest in potential production partnerships, with preliminary discussions now in progress. There can, however, be no guarantee as to the conclusion of any such discussions, nor as to the timing or terms, structure or value of any such production partnership.
Blue Mountain Gold Project
The Blue Mountain Gold Project is located in North Queensland within the historic goldfields of the region. The Blue Mountain Project area hosts extensive alluvial workings along the Kariboe Creek and its tributaries, much of which was only partially exploited by historic operators. The Board believes that ECR is the first company to undertake a modern systematic drilling programme across these alluvial channels, providing detailed information on gold distribution within the gravels.
With large volumes of alluvial material present, the Blue Mountain Project offers both near-term production potential and longer-term exploration upside, as the Company continues to assess the broader extent of gold mineralisation across the Blue Mountain Project.
Nick Tulloch, ECR's Chairman commented: "These first results from drill sampling at the Lower Patterson area have exceeded our expectations. They demonstrate consistent gold occurrences across wide zones and provide a strong foundation as we continue our programme. The objective of this work was to define the extent of gold-bearing channels, rather than just indicative grade points, and in this respect the results are very encouraging. This is particularly pleasing in areas that have apparently not been mined before, as we are potentially augmenting the alluvial resource inventory on the property. We await the results from the Denny's Creek and Upper Kariboe areas and, with the success of what we are seeing, it is perhaps no surprise that we have attracted interest from potential partners who recognise the potential commercial production opportunity at the Blue Mountain Project. We look forward to providing further updates as results and discussions progress."
DRILLING RESULTS FOR SIGNIFICANT INTERCEPTS AND DEPTHS OF ZONES TESTED
All results equal to or greater than 0.15 grams per bank cubic metre (b.c.m).
|
Traverse # |
Hole # |
From (metres) |
To (metres) |
Length (metres) |
TOTAL Au (mg) |
Estimated average grade of mineralisation (grams per b.c.m) |
|
Section 1 |
1 |
4 |
5 |
1 |
11.8 |
1.14 |
|
Section 1 |
2 |
4 |
5 |
1 |
2.13 |
0.21 |
|
Section 1 |
3 |
5 |
6 |
1 |
1.68 |
0.16 |
|
Section 1 |
5 |
5 |
6 |
1 |
1.94 |
0.19 |
|
Section 1 |
7 |
3 |
4 |
1 |
4.62 |
0.44 |
|
Section 1 |
10 |
5 |
6 |
1 |
5.09 |
0.49 |
|
Section 1 |
11 |
5 |
6 |
1 |
3.49 |
0.34 |
|
Section 1 |
12 |
5 |
6 |
1 |
3.76 |
0.36 |
|
Section 2 |
6 |
6 |
7 |
1 |
1.8 |
0.17 |
|
Section 3 |
1 |
3 |
4 |
1 |
2.25 |
0.22 |
|
Section 3 |
2 |
4 |
5 |
1 |
2.78 |
0.27 |
|
Section 3 |
3 |
3 |
4 |
1 |
1.77 |
0.17 |
|
Section 3 |
4 |
2 |
3 |
1 |
11.1 |
1.07 |
|
Section 3 |
5 |
5 |
6 |
1 |
1.79 |
0.17 |
|
Section 3 |
7 |
3 |
4 |
1 |
2.01 |
0.19 |
|
Section 6 |
3 |
4 |
5 |
1 |
1.99 |
0.19 |
|
Section 7 |
3 |
4 |
5 |
1 |
2.94 |
0.28 |
Note: Estimated g/b.c.m calculated by multiplying total weight of gold (mg) obtained from a 0.115 m x 1 m drill hole sample to volume of cubic metre (96.27 x mg). Results rounded to two significant figures.
DRILL HOLE LOCATION DETAILS
Easting/Northing coordinates using GDA94 Zone 56 grid (MGA).
All drill holes were drilled vertically (dip -90, azimuth 000). Collars picked up with DGPS with =/- 10 cm horizontal accuracy.
|
Traverse # |
Hole # |
Easting |
Northing |
Relative Level (RL) |
Total Depth (metres) |
|
1 |
1 |
287839.49 |
7278910.93 |
400.4 |
9 |
|
1 |
2 |
287832.13 |
7278918.08 |
400.5 |
9 |
|
1 |
3 |
287825.60 |
7278925.52 |
400.5 |
9 |
|
1 |
4 |
287819.05 |
7278933.98 |
400.6 |
9 |
|
1 |
5 |
287812.55 |
7278941.55 |
400.3 |
9 |
|
1 |
6 |
287808.00 |
7278947.60 |
399.8 |
9 |
|
1 |
7 |
287804.33 |
7278958.39 |
398.9 |
9 |
|
1 |
8 |
287800.75 |
7278967.68 |
398.9 |
9 |
|
1 |
9 |
287797.62 |
7278973.61 |
399.1 |
10 |
|
1 |
10 |
287793.83 |
7278978.71 |
399.2 |
10 |
|
1 |
11 |
287787.77 |
7278986.45 |
399.4 |
10 |
|
1 |
12 |
287782.89 |
7278993.28 |
399.4 |
10 |
|
2 |
1 |
287769.11 |
7278821.43 |
400.5 |
5 |
|
2 |
2 |
287778.86 |
7278828.57 |
398.9 |
6 |
|
2 |
3 |
287785.34 |
7278822.83 |
398.9 |
6 |
|
2 |
4 |
287791.65 |
7278818.37 |
399.2 |
9 |
|
2 |
5 |
287799.18 |
7278815.14 |
399.1 |
8 |
|
2 |
6 |
287806.98 |
7278811.42 |
399.1 |
8 |
|
2 |
7 |
287814.41 |
7278808.38 |
399.4 |
8 |
|
2 |
8 |
287821.13 |
7278805.53 |
399.6 |
9 |
|
2 |
9 |
287830.57 |
7278802.45 |
399.7 |
9 |
|
3 |
1 |
287803.99 |
7278702.08 |
397.5 |
12 |
|
3 |
2 |
287796.01 |
7278708.04 |
397.4 |
6 |
|
3 |
3 |
287786.29 |
7278717.37 |
397.7 |
6 |
|
3 |
4 |
287778.25 |
7278723.40 |
397.6 |
5 |
|
3 |
5 |
287770.58 |
7278730.19 |
397.6 |
6 |
|
3 |
6 |
287763.87 |
7278735.58 |
397.5 |
5 |
|
3 |
7 |
287756.99 |
7278746.71 |
397.8 |
5 |
|
6 |
1 |
288151.39 |
7278774.18 |
401.0 |
9 |
|
6 |
2 |
288156.59 |
7278779.09 |
402.3 |
9 |
|
6 |
3 |
288161.28 |
7278784.91 |
403.3 |
9 |
|
6 |
4 |
288166.81 |
7278792.89 |
404.4 |
9 |
|
7 |
1 |
288043.97 |
7278856.85 |
398.7 |
6 |
|
7 |
2 |
288048.64 |
7278861.07 |
399.2 |
6 |
|
7 |
3 |
288052.95 |
7278867.05 |
399.8 |
9 |
|
7 |
4 |
288056.62 |
7278873.27 |
400.1 |
9 |
Review of announcement by a Qualified Person
This announcement has been reviewed by Adam Jones, Chief Geologist 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 8080 8176 |
|
Nick Tulloch, Chairman Andrew Scott, Director |
|
|
|
|
|
Website: www.ecrminerals.com |
|
|
|
|
|
Allenby Capital Limited |
Tel: +44 (0) 3328 5656 |
|
Nominated Adviser Nick Naylor / Alex Brearley / Vivek Bhardwaj |
|
|
|
|
|
Axis Capital Markets Limited |
Tel: +44 (0) 203 026 0320 |
|
Broker |
|
|
Lewis Jones |
|
|
|
|
|
SI Capital Ltd |
Tel: +44 (0) 1483 413500 |
|
Broker |
|
|
Nick Emerson |
|
|
|
|
|
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 operating through two wholly owned Australian subsidiaries ECR Minerals (Australia) Pty Ltd ("ECR Australia") and ECR Minerals (Queensland) Pty Ltd ("ECR Queensland").
ECR Australia owns the Bailieston and Creswick gold projects in central Victoria, Australia as well as the Tambo gold project in eastern Victoria.
ECR Queensland has two approved exploration permits over the Blue Mountain alluvial gold project in central Queensland, Australia, which it is currently working to bring into production. It also has three approved exploration permits covering 946 km2 over a relatively unexplored area in Lolworth Range in northern Queensland. Furthermore, ECR Queensland has also submitted a licence 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), ECR Australia has the right to receive up to A$2 million in payments subject to future resource estimation or production from these projects.
ECR Australia also has approximately A$75 million of unutilised tax losses incurred during previous operations.
Glossary
|
Au: |
Gold |
|
b.c.m: |
Bank cubic metres (Metric) |
|
cm: |
Centimetre metric) |
|
g: |
Grammes (Metric) |
|
kg: |
Kilogrammes (Metric) |
|
km: |
Kilometres (Metric) |
|
km²: |
Kilometre squared (Metric) |
|
M: |
Metres (Metric) |
|
Mg: |
Milligram (Metric) |
|
mm: |
Millimetre (Metric) |
|
Sq: |
Square (Metric) |
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