ECR Minerals plc (LON:ECR) the precious metals exploration and development company is pleased to confirm the company has recommenced its gold exploration programme at the Bailieston Licence in Central Victoria, Australia.
- The Company has identified eight principle targets within the Company’s five exploration licence areas and has developed an exploration programme designed to test surface gold mineralisation across the licence areas;
- Following the success achieved at Blue Moon and the discovery of a gold mineralised system the Company has launched a broad exploration programme across multiple targets;
- The initial programme has focused on ground exploration at the Byron and Cherry Tree Main targets, further details of which can be found in our market announcement of 20 February 2018;
- The first 150 rock chip samples have been collected from surface at Byron and Cherry Tree Main;
- Previous sampling of quartz veins plus the surrounding sedimentary rocks host rocks tested the hypothesis that low-grade mineralisation may be found in the wall rock. Results showed that the samples containing quartz veins were consistently higher, reaching 23 g/t Au;
- As a result a systematic campaign to sample all quartz veins, especially those not sampled previously, is underway to obtain a consistent dataset. This will establish which of the differing lines at Byron and Cherry Tree are the best mineralised and more importantly to establish where the better shoots reach the surface to assist with future drill planning;
- Further work is scheduled to commence at Creswick target shortly, and a follow up work programme at Blue Moon;
- Announcements will be made to market on a regular basis as each programme is commenced and the results achieved.
Craig Brown, Chief Executive Officer of ECR Minerals plc, commented: “With the support provided by investors in our recent financing, and following extensive review of the Victoria region gold prospective targets, ECR has recommenced its exploration programme in Australia.
We are pleased to have this gold exploration programme underway and look forward to the regular flow of results which we will report to market as material developments occur.
Given the level of interest in Australian gold exploration we are excited by the results we are achieving on the ground, where our principle objective is to achieve a significant gold discovery.”
COMPETENT PERSON STATEMENT
The information in this announcement that relates to Exploration Results is based on information compiled by Dr Rodney Boucher of Linex Pty Ltd. Linex Pty Ltd provides geological services to Mercator Gold Australia Pty Ltd, including the services of Dr Boucher, who has a PhD in geology, is a Member and RPGeo of the Australian Institute of Geoscientists and is a Member of the Australian Institute of Mining and Metallurgy. Dr Boucher has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Dr Boucher consents to the inclusion in the announcement of the material based on his information in the form and context in which it appears.
ABOUT ECR MINERALS PLC
ECR is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia has 100% ownership of the Avoca, Bailieston, Creswick, Moormbool and Timor gold exploration licences in central Victoria, Australia.
ECR has earned a 25% interest in the Danglay epithermal gold project, an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines. An NI43-101 technical report was completed in respect of the Danglay project in December 2015 and is available for download from ECR’s website.
ECR’s wholly owned Argentine subsidiary Ochre Mining has 100% ownership of the SLM gold project in La Rioja, Argentina. Exploration at SLM has focused on identifying small tonnage mesothermal gold deposits which may be suitable for relatively near-term production.
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