ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce an update on the stream sediment sampling campaign currently in progress on its tenements at Lolworth Range, North Queensland, Australia.
ECR Minerals plc has 100% ownership of three exploration tenements (EPM27901, EPM27902 and EPM27903), which covers the Lolworth Range, located 120km west of the famous gold district of Charters Towers. The project is being explored under ECR’s Australian wholly owned subsidiary Lux Exploration Pty Ltd (“LUX”).
HIGHLIGHTS
- Program well ahead of schedule
- Close to 75% complete
- More than 91 samples have been despatched and awaiting results from the laboratory.
Follow-up sampling work is continuing
ECR CEO Andrew Haythorpe commented: “Although it is early in the planned exploration schedule, we’ve made a very encouraging start to what will be a detailed and exhaustive exploration programme. Once the remaining samples have been collected and documented, we will then move to establish a shortlist of targets for further exploration.”
“I look forward to reporting shortly our conclusions once the remaining sampling work has been completed.’
PROJECT OVERVIEW
The Lolworth Range project is located approximately 120km west of the historically famous Charters Towers gold district. ECR Minerals owns three Exploration tenements covering a total area of 964 km2. The area encompasses the Lolworth Range, a region comprising of similar rocks that host world class gold deposits such as Charters Towers and the historic Mt Leyshon Mine (>2.5 million ounces).
In 1987-1988, a stream sediment survey was undertaken by previous explorers ARI Ltd under permit ATP4855M. Their investigations identified numerous anomalous streams within Lolworth Range containing not only visible gold, but also minerals such as tin and tungsten. Research by ECR Minerals geologists established that no follow-up exploration of any note had been undertaken since the work under the ATP4855M permit, mostly likely due to the relatively inhospitable terrain. It is for this reason that ECR Minerals pegged this ground in 2021.
UPDATE ON INITIAL STREAM SAMPLING PROGRAM
ECR planned for 210 samples to be taken using a heavy mineral concentration method by panning, following up on the initial work undertaken by ARI Ltd in 1987-1988. ECR’s current sampling campaign is duplicating previous works to confirm ARI’s historical results, but the campaign is also following the best recorded results further up-stream towards possible sources of mineralisation.
To date, More than 91 out of the initial planned 210 samples have been sent to the laboratory for analysis.
The completed samples are now at the ALS Laboratory located in the nearby Queensland city of Townsville. Due to the current demand on Australian laboratories, we are not expecting the results back until the end of October.
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:
ECR Minerals plc
Tel: +44 (0) 20 7929 1010
David Tang, Non-Executive Chairman
Andrew Haythorpe, CEO
Email: [email protected]
Website: www.ecrminerals.com
