ECR Minerals plc (LON:ECR) Windidda Gold Project Australia – Positive Geophysics Update

Craig Brown, Chief Executive Officer, commented: The results of the study by Western Geophysics are most encouraging and demonstrate real potential for the discovery of gold mineralisation hosted in under-cover Archaean greenstones in the world-class gold mining environment of Western Australia.

 

 

ECR Minerals plc (LON:ECR), the precious metals exploration and development company, is pleased to provide an update with regard to the Company’s Windidda gold project located in the Yilgarn region of Western Australia.

The Windidda gold project includes nine licence applications covering approximately 1,600 square kilometres of the Yilgarn region. The application areas were identified as a potential greenstone hosted orogenic gold exploration opportunity with significant potential to contain Archaean greenstones buried beneath cover. The application process for the licences is ongoing at present.

The focus of this announcement, the processing and interpretation of airborne and ground geophysics, is an important element in the determination of high profile drill targets, enabling the rapid assessment of the potential for gold mineralisation.

HIGHLIGHTS

  • Processing, analysis and interpretation of gravity and open file airborne geophysics survey data covering the Windidda gold project area in Western Australia has been completed by Western Geophysics Pty Ltd on behalf of ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd (“MGA”).
  • The aim of the work was to process and interpret available airborne magnetic and ground gravity data to determine the depth of Archaean units below overlying Proterozoic Earaheedy Basin sediments.
  • The modelling results show the depths to magnetic sources are shallowest on the highly magnetic trend striking NNW-SSE in the western half of the Windidda project area.
  • Shallow, altered and mineralised gold intersections drilled by North Ltd in 1998-2000 coincide with the highly magnetic units in their Bermuda project area, which lies outside the Windidda project area to the south.
  • The magnetic and mineralised trend (Bermuda trend) projects into Windidda exploration licence application E38-3369 and the modelling results indicate shallow feasible drill targets there.

Craig Brown, Chief Executive Officer, commented:

READ
Cobra Resources PLC (LON:COBR) Wudinna Project - Drilling Equity Agreement

“The results of the study by Western Geophysics are most encouraging and demonstrate real potential for the discovery of gold mineralisation hosted in under-cover Archaean greenstones in the world-class gold mining environment of Western Australia.

The under-cover greenstone exploration model has been successfully tested to date by Greatland Gold at its Ernest Giles project located approximately 125km east of ECR’s Windidda gold project.

We look forward to moving the Windidda gold project forward and reporting back to the market with further developments.”

FURTHER INFORMATION

MGA has nine exploration licence applications located approximately 150km north of Laverton in Western Australia, which comprise the Windidda project. An update on the status of the applications was provided in the Company’s announcement dated 27 September 2019, which may be viewed at the following link:

https://polaris.brighterir.com/public/ecr_minerals_plc/news/rns/story/rm5zl8w

The locations of the exploration licence applications, the regional geology and the gold and base metal (nickel) occurrences in the Gerry Well greenstone belt to the south are shown on Figure 1, which may be viewed at the following link:

https://www.ecrminerals.com/images/2019/10/14/windidda-project-geophreport-wgpx-figure-1.jpg

The Windidda project area is underlain by Proterozoic age sediments of the Earaheedy Basin. The basin rocks unconformably overlie Archaean rocks of the northern margin of the Yilgarn craton.

The geophysical modelling results show the depths to magnetic sources are shallowest on the highly magnetic trend striking NNW-SSE in the western half of the project area. Shallow, altered and mineralised gold intersections from drilling by North Ltd (“North”) in 1998-2000 coincide with the highly magnetic units in their Bermuda project area (labelled “Windidda South” on Figure 1), located outside the Windidda project area to the south. The magnetic and mineralised trend (Bermuda trend) projects into Windidda exploration licence application E38-3369 and the modelling results indicate feasible drill targets there.

The modelling shows increasing depth to the north for central and eastern zones of NNE-SSW striking, strongly magnetic units. Magnetic units at <200 metres BGL (below ground level) are indicated on Lines 2000 and 2001, shown on Figure 18, which may be viewed at the following:

READ
Weekly Mining Highlights, 9th November 2019

https://www.ecrminerals.com/images/2019/10/14/windidda-project-geophreport-wgpx-figure-18.jpg

In order to advance future exploration, additional geophysics surveys are recommended to lower risk prior to any drilling. These being detailed gravity and high-resolution airborne EM surveys.

Previous work completed by North, located approximately seven kilometres to the south of the southern boundary of Windidda exploration licence application E38-3369, determined the Proterozoic is approximately less than or equal to 100 metres thick with some more shallow areas of Archaean banded iron formation (BIF) and ultramafic formations in subcrop.

A significant amount of work was done there by North (Bermuda project) from 1998 to 2000 including, mapping, drilling, some gravity lines and induced polarisation surveys. Unfortunately, none of the ground geophysics data are lodged in digital format with the West Australian Department of Mines. North concluded: “Significant gold anomalism has been intersected within E38/589. Associated with anomalous gold values are strong alteration zones, major through-going structures and anomalous multi-element geochemistry. All these factors show that E38/589 exhibits significant potential for hosting gold mineralisation and, requires further drilling to test anomalous zones.” The mineralisation is labelled as Windidda South on Figure 1.

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.

 

Register for the Share Talk investor evening, London 26th November 2019


Linking Shareholders and Executives :Share Talk

If anyone reads this article found it useful, helpful? Then please subscribe www.share-talk.com or follow SHARE TALK on our Twitter page for future updates.

Terms of Website Use

All information is provided on an as-is basis. Where we allow Bloggers to publish articles on our platform please note these are not our opinions or views and we have no affiliation with the companies mentioned

Malcare WordPress Security