ECR Minerals plc (AIM:ECR) Drilling Identifies Further High Gold Grades at the Upper-Maori Anticline, Bailieston, Victoria

ECR Minerals plc (LON: ECR), the gold exploration and development company focussed on gold exploration in Australia, is pleased to provide another update from drilling at HR3 with further high gold grades identified at the upper part of the Maori Anticline in hole BH3DD022.

ECR Minerals plc has 100% ownership of the Bailieston Project (EL5433) which contains the gold prospects known as HR3, Cherry Tree, Blue Moon and Black Cat. The projects are operated by ECR’s Australian wholly owned subsidiary Mercator Gold Australia Pty Ltd (“MGA”).

ECR Chairman David Tang commented: “Hot on the heels of our best HR3 gold grade yet, Adam Jones and the team have reported another high-grade gold find from the Maori Reef at hole BH3DD022. As the backlog of assay results continue to arrive, our Maori Anticline target model continues to evolve.”

“I know our new CEO Andrew Haythorpe is monitoring developments very closely, and we are very much looking forward to his input as he takes the helm.”

ECR CEO Andrew Haythorpe added: “I am delighted to see that the drilling campaign initiated by my predecessor Craig Brown and capably managed by Adam Jones is bearing fruit. We are seeing a detailed model of the Maori Anticline and surrounding reefs emerging, and once we have the remaining assay results in, the next steps in developing our asset can be set in motion.”

HIGHLIGHTS:

  • Drillhole BH3DD022 has returned a result of 0.5m @ 12.74 g/t Au.
  • The Maori Reef is open for potential mineralisation further to the south-east of BH3DD022.
    Links to two figures referencing hole BH3DD022 are below;

https://www.ecrminerals.com/images/2022/Fig1_BH3DD022_Section.png

https://www.ecrminerals.com/images/2022/Fig2_BH3DD022_Location_Plan.png

BH3DD022

Hole BH3DD022 was drilled into the upper part of the Maori Anticline at the point where our geologists had hypothesised the intersection of the Maori Reef and Hard-Up Reef. The Maori Reef was successfully intercepted at the shallow drilled depth of 49.5m, which included 0.5m @ 12.74 g/t Au. This intercept is supported by lower grades either side, making a total foot-wall to hanging-wall intersection of 3.5m @2.93 g/t Au. Although the intercepts are regarded as narrow, there is continuity of grades between previously reported holes BH3DD009, 010 and 011 (see RNS dated 26/11/2021 here and 22/12/2021 here). The Maori Reef system remains open and untested to the south east of BH3DD022 (see fig2).

Table 1. Summary of drill intercepts containing reportable levels of gold greater than 0.1 g/t Au for BH3DD022 (*highlights in bold).

BH3DD022

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CURRENT DRILLING PROGRESS

Drilling has now been completed into selected zones of both the upper and north end of the known Maori Reef. Geological logging is helping us to model the Maori Anticline and understand how the main Reef systems consist of narrow stibnite-sulphide veining propagating up through the fold. Recently drilled hole BH3DD034 suggests gold mineralisation is still open along strike to the north, while high grade gold mineralisation and highest grade Gold interceptyet confirmed at hole BH3DD027 (under Hard-Up Reef), along with the result from hole BH3DD022 toward the southern end of the Maori Reef today provide evidence of mineralisation to the south. Further assay results will assist in follow-up drilling as needed.

REVIEW OF ANNOUNCEMENT BY QUALIFIED PERSON

This announcement has been reviewed by Adam Jones, a director of 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.

MARKET ABUSE REGULATIONS (EU) No. 596/2014

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (MAR). Upon the publication of this announcement via Regulatory Information Service (RIS), this inside information is now considered to be in the public domain.

FOR FURTHER INFORMATION, PLEASE CONTACT:

ECR Minerals plc

Tel: +44 (0) 20 7929 1010

David Tang, Non-Executive Chairman

Andrew Haythorpe, CEO

Email: info@ecrminerals.com

Website: www.ecrminerals.com


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