ECR Minerals plc (AIM:ECR) Highest Grade Gold Intercept yet Revealed Below Soil Anomaly at HR3, Bailieston

ECR Minerals plc (LON: ECR), the gold exploration and development company focussed on gold exploration in Australia, is pleased to provide an update on drilling at HR3 including the highest grade Gold intercept yet below the soil anomaly drilled by hole BH3DD027.

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: “A significant amount of work has gone into the drilling programme at HR3, and I am delighted that having seen encouraging and consistent gold grades in the assay results to date, today’s result has provided our best intercept yet. Our team hoped that the ground under Hard-Up Reef would reveal a solid result – and it didn’t disappoint!”

“I look forward to working with our new CEO Andrew Haythorpe and Geologist Adam Jones as we build the results from BH3DD027 into the Maori Anticline target model.”

ECR CEO Andrew Haythorpe added: “As the new CEO my work for the next few weeks entails getting my feet under the proverbial desk. Regardless, given my previous experience as geologist and mining company CEO, along with David and Adam I am very pleased to see the HR3 prospect return the best assay result to date. I look forward to speaking with shareholders as the year progresses.”

HIGHLIGHTS:

  • ECR Minerals has received the highest single assay result to date from the drilling at Bailieston with 0.2m @ 52.5 g/t Au from 126.3m depth in hole BH3DD027 (reported drilled thickness).
  • Hole BH3DD027 represents assays received from the first of two holes initially drilled into the Hard-Up Reef underneath a previously identified soil anomaly.
  • Drilling continues in HR3 (Bailieston) strengthening the Maori Anticline target model with multiple narrow mineralised structures observed.
  • The following statements can be referenced to the following link, a plan showing the location of hole BH3DD027 and recently drilled targets awaiting results;

https://www.ecrminerals.com/images/2022/Fig1_220421

BH3DD027

ECR Minerals announced the identification of four soil anomalies respectively named (A, B, C and D) in the vicinity of the projected Scoulers and Hard-Up Reef lines (see RNS dated 23rd December 2021 “Bailieston (HR3) Soil Sampling Strengthens Mineralisation Model”). Two initial drillholes (BH3DD026 and BH3DD027) were drilled underneath soil anomaly ‘A’. Results for hole BH3DD027 have now been received with the results pending for BH3DD026.

ECR is both pleased and proud to report the best gold intercept to date at Bailieston with 0.2m @ 52.5 g/t Au from 126.3m depth (BH3DD027). This intercept is supported by lower grade foot-wall and hanging-wall mineralisation located between 124 metres and 127 metres drilled depth. Geological interpretation confirms this mineralisation coincides with the Hard-Up Reef. Visible Antimony sulphide (Stibnite) is also present within the shear zone. The best intercept of 52.5 g/t Au ties in with a laminated quartz vein with a stibnite-sulphide shear zone grading at 1.76 g/t Au. All anomalous grades are reported in Table 1 below.

Although mineralisation between 124 metres and 127 metres has a represented drilled width of 3 metres, the low-dip angle of mineralisation to the drill core represents the true width of mineralisation at approximately 0.79 metres, demonstrating that at least some of the mineralisation at HR3 will likely be of a high-grade, narrow-vein style gold deposit.

Table 1. Summary of drill intercepts containing reportable levels of gold greater than 0.1 g/t Au for BH3DD027 (*highlights in bold).

BH3DD027

CHANGE OF ASSAY METHOD

Visible Stibnite (Antimony Sulphide) has been observed to occur in some of the drillholes into the Maori Anticline. As gold has been the primary mineral of interest, earlier assay results from the drilling have not been analysed for the Antimony content. Until recently, the preferred assay method has been to leach the bulk 2 kg drill sample using a cyanide solution. This is followed by fire assay of the residual tails from the solution, thereby tracing any potential undissolved coarser gold particles. With the increasing importance of Stibnite, the Company has refined the assay method to include such metals as Antimony. Additionally, all samples will have an initial 50g fire assay with only bulk leaching amendable to samples that show trace gold levels. This will save costs and speed up results without compromising quality of the assay.

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 confirming our understanding of the Maori Anticline and how the main Reef systems consist of narrow stibnite-sulphide veining propagating up through the fold. Recently drilled BH3DD034 suggests gold mineralisation is still open along strike to the north. Assay results from this drilling will assist in follow-up drilling as needed.

Currently, the drilling programme is designed to investigate Scoulers Reef and associated soil anomalies which run along strike, parallel to the Maori Anticline. Some of the drillholes will be extended to target the Maori Anticline at depth to aid geological interpretation.

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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