ECR Minerals plc (LON:ECR) Gold Drilling Update – Creswick & Blue Moon Australia

Craig Brown, Chief Executive Officer commented: “I am extremely pleased to announce the progress achieved by our technical team at Creswick and Bailieston Blue Moon projects in Australia with a combined 2,461 metres of drilling completed in less than a month.

 

 

ECR Minerals plc (LON:ECR), the precious metals exploration and development company, is pleased to announce positive progress in the Company’s extensive gold drilling programmes being undertaken at the Creswick and Bailieston Blue Moon projects in the State of Victoria, Australia.

Readers are advised to consult the Company’s previous announcement outlining the proposed drilling programmes as follows:

https://polaris.brighterir.com/public/ecr_minerals/news/rns/story/x2q8qzx

Highlights:

The Company has now completed 1,687 metres of reverse circulation drilling in 17 target holes at the Creswick gold project targeting multiple quartz vein orientations within the Dimocks Main Shale (“DMS”);

The drilling at Creswick successfully intersected multiple quartz reefs as anticipated, and the Company is now awaiting assay results to determine the extent of gold mineralised shoots in samples;

In addition, 774 metres of reverse circulation drilling in 6 target holes has been completed at the Blue Moon gold prospect within the Bailieston project area to follow up the significant near surface gold intercept and evidence of a near surface mineralised gold system announced in July 2018;

Drilling is continuing at the Blue Moon gold prospect targeting extensions of areas where sulphides have been intersected and gold mineralisation has been identified including visible gold in panned reverse circulation samples;
The Board of the Company is reviewing with its technical team the field findings to date, with a view to further drilling in areas of noted interest;

A substantial number of samples have now been submitted to the laboratory for testing and the Company is awaiting results;
A recent significant increase in the volume of samples being processed at the local laboratories, due to the increasing interest in State of Victoria gold exploration, has slowed the processing time from the original one week turnaround to a slower process extending between 2 and 4 weeks depending on the sample process.

As many of our samples have already been in the laboratory for some time, we expect the flow of assay results in the coming weeks;

Further updates to the market will be provided at the earliest opportunity as results are received and findings analysed by our technical team.

Craig Brown, Chief Executive Officer commented: “I am extremely pleased to announce the progress achieved by our technical team at Creswick and Bailieston Blue Moon projects in Australia with a combined 2,461 metres of drilling completed in less than a month.

We have successfully encountered a number of host structures that were anticipated and targeted in our drill programmes, and we have panned gold within some of the drill samples.

The Company’s approach has been to define drill targets based on historical exploration, field mapping and soil gochemistry with an iterative review programme to extend drilling where target geological structures and gold mineralisation therein is encountered.

We await assay data to add to our field observations and will provide further updates to the market when assay information has been received and reviewed by the team.”

 


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