TIDMECR
10 August 2021
ECR MINERALS plc
("ECR Minerals", "ECR" or the "Company")
Initial Results from the First Ever Drilling Campaign at Cherry
Tree (HR4) Identify Anticlinal Hinge Anomaly
ECR Minerals plc (LON: ECR), the gold exploration and
development company focussed on gold exploration in Australia, is
pleased to announce initial results from its first drilling
campaign at Cherry Tree ("Historic reserve number 4", "HR4",
"Cherry Tree") at the Bailieston Project in central Victoria,
Australia.
ECR Minerals plc has 100% ownership of Bailieston Project which
is operated under its Australian owned subsidiary Mercator Gold
Australia Pty Ltd ("MGA").
Craig Brown, Chief Executive Officer of ECR Minerals plc,
commented:
"Following the purchase of our second drilling rig, ECR's strong
funding position and growing local infrastructure ensures the
Company can continue to maintain a series of aggressive drilling
campaigns across the Victoria Goldfields. We have also made a small
bit of history; ECR's Australian subsidiary MGA completed the first
ever diamond drillhole at Cherry Tree (HR4) and I am delighted to
report a highly significant early result there from hole BCTDD003,
both in terms of the geological setting and the gold mineralisation
identified."
"As the data continues to arrive, our senior geologists are
working hard to ascertain structural geological interpretations. It
is widely accepted that culminations in folded strata cut by shears
and faults are favoured locations for deposition of fold-hinged
gold deposits, and with the cross-striking faults at this anticline
filled with quartz-gold-bearing fluids in Holes BCTDD001, BCTDD002
and BCTDD003, there is encouraging early evidence. We are keen to
see what the next raft of data will reveal so we can determine our
next exploration steps."
HIGHLIGHTS:
-- Hole BCTDD001, the first ever diamond drilling work undertaken at HR4 has
delineated an anticlinal hinge striking through the centre of the
goldfield.
-- Holes BCTDD002 and BCTDD003 were drilled to define cross striking faults.
Drilling continues using orientated diamond drill-core for structural
geological interpretation
-- Hole BCTDD003 shows broad zones of low-grade gold mineralisation, often
associated with anomalously high Arsenic (pXRF readings). The best
intercept includes 0.5m @ 11.02 g/t Au from 98.85m depth.
PROGRESS AT CHERRY TREE
Hole BCTDD001, the first ever diamond drillhole completed at HR4
has delineated an anticlinal hinge striking through the centre of
the goldfield. This anticline forms the geological backbone of
mineralisation at Cherry Tree where cross-striking faults to this
anticline have filled with quartz-gold-bearing fluids. Holes
BCTDD002 and BCTDD003 were drilled to define such cross striking
faults.
MGA continues to drill orientated diamond core to gain
structural geological information, and recently drilled holes
BCTDD004 and BCTDD005 were designed to test the interpreted
position of multiple cross-striking faults. Geological logging of
BCTDD004 and BCTDD005 is currently in progress.
Hole BCTDD003 shows broad zones of low-grade mineralisation,
often associated with high Arsenic (pXRF readings). The best
intercept includes 0.5m @ 11.02 g/t Au from 98.85m depth.
DETAILS OF ALL INTERCEPTS CONTAINING REPORTABLE LEVELS OF GOLD
GREATER THAN 0.1 G/T -- HOLES BCTDD001-003
BCTDD001
From To Interval
(m) (m) Grade Au g/t (m)
No significant
BCTDD001 intercepts 0.1 g/t Au
Results greater than 0.1 g/t Au
From To Interval
(m) (m) Grade Au g/t (m)
Associated with high
BCTDD002 65.6 66.1 1.08 0.5 Arsenic pXRF
Associated with high
BCTDD002 87 88 1.14 1 Arsenic pXRF
BCTDD002
Other broad mineralised zones results noted
From To Interval
(m) (m) Grade Au g/t (m)
Broad LG zone
BCTDD002 68.3 69.3 0.11 1 associated with
higher arsenic. 4m @
BCTDD002 69.3 70.3 0.22 1 0.19 g/t Au
BCTDD002 70.3 71.3 0.2 1
BCTDD002 71.3 72.3 0.24 1
BCTDD003
Results greater than 0.1 g/t Au
From To Interval
(m) (m) Grade Au g/t (m)
BCTDD003 74.9 75.5 1.11 0.6 0.6m @ 1.11 g/t Au
BCTDD003 79.7 80 1.01 0.3 0.3m @ 1.01 g/t Au
BCTDD003 98.85 99.35 11.02 0.5 0.5m @ 11.02 g/t Au
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.
OR FURTHER INFORMATION, PLEASE CONTACT:
ECR Minerals plc Tel: +44 (0)20 7929 1010
David Tang, Non-Executive Chairman
Craig Brown, Director & CEO
Email:
info@ecrminerals.com
Website: www.ecrminerals.com
WH Ireland Ltd Tel: +44 (0)161 832 2174
Nominated Adviser
SI Capital Ltd Tel: +44 (0)1483 413500
Broker
Nick Emerson
Tel: +44 (0)20 7399 9425
Novum Securities Limited
Broker
Jon Belliss
Brand Communications
Public Relations Tel: +44 (0) 7976 431608
Alan Green
NOTES AND FULL INTERCEPT SUMMARY
BCTDD001
From To Interval
(m) (m) Grade Au g/t (m)
No significant
BCTDD001 intercepts 0.1 g/t Au
Results greater than 0.1 g/t Au
From To Interval
(m) (m) Grade Au g/t (m)
Associated with high
BCTDD002 65.6 66.1 1.08 0.5 Arsenic pXRF
Associated with high
BCTDD002 87 88 1.14 1 Arsenic pXRF
BCTDD002
Other broad mineralised zones results noted
From To Interval
(m) (m) Grade Au g/t (m)
Broad LG zone
BCTDD002 68.3 69.3 0.11 1 associated with
higher arsenic. 4m @
BCTDD002 69.3 70.3 0.22 1 0.19 g/t Au
BCTDD002 70.3 71.3 0.2 1
BCTDD002 71.3 72.3 0.24 1
BCTDD003
Results greater than 0.1 g/t Au
From To Interval
(m) (m) Grade Au g/t (m)
BCTDD003 74.9 75.5 1.11 0.6 0.6m @ 1.11 g/t Au
BCTDD003 79.7 80 1.01 0.3 0.3m @ 1.01 g/t Au
BCTDD003 98.85 99.35 11.02 0.5 0.5m @ 11.02 g/t Au
Other broad mineralised zones results noted
From To Interval
(m) (m) Grade Au g/t (m)
BCTDD003 28 29 0.24 1 1.3m @ 0.24 g/t Au
BCTDD003 29 29.3 0.23 0.3
LG zone 20.3m @ 0.35
BCTDD003 31 32 0.22 1 g/t
BCTDD003 32 32.7 0.23 0.7
BCTDD003 32.7 33.2 0.9 0.5
BCTDD003 33.2 34.2 0.94 1
BCTDD003 34.2 35.1 0.16 0.9
BCTDD003 35.1 36.1 0.1 1
BCTDD003 36.1 36.5 0.48 0.4
BCTDD003 36.5 37.5 0.53 1
BCTDD003 37.5 38.5 0.34 1
BCTDD003 38.5 39 0.36 0.5
BCTDD003 39 40 0.6 1
BCTDD003 40 41 0.55 1
BCTDD003 41 42 1.13 1
BCTDD003 42 42.5 0.17 0.5
BCTDD003 42.5 43.5 0.14 1
BCTDD003 43.6 44.5 0.13 0.9
BCTDD003 44.5 45.1 0.29 0.6
BCTDD003 45.1 46.1 0.11 1
BCTDD003 46.1 47.1 0.21 1
BCTDD003 47.1 48.1 0.14 1
BCTDD003 48.1 49.1 0.16 1
BCTDD003 49.1 50.1 0.21 1
BCTDD003 50.1 51.4 0.11 1.3
LG zone 17m @ 0.21 g/t
BCTDD003 54.1 55.1 0.37 1 Au
BCTDD003 55.1 56.1 0.23 1
BCTDD003 56.1 57.1 0.1 1
BCTDD003 57.1 58.1 0.1 1
BCTDD003 58.6 59.6 0.28 1
BCTDD003 59.6 59.9 0.48 0.3
BCTDD003 59.9 60.4 0.5 0.5
BCTDD003 60.4 60.9 0.16 0.5
BCTDD003 60.9 61.4 0.41 0.5
BCTDD003 61.4 62 0.74 0.6
BCTDD003 62 62.5 0.14 0.5
BCTDD003 62.5 63.2 0.33 0.7
BCTDD003 63.2 63.8 0.15 0.6
BCTDD003 63.8 64.5 0.13 0.7
BCTDD003 64.5 65.3 0.1 0.8
BCTDD003 65.3 66.1 0.12 0.8
BCTDD003 66.1 66.7 0.13 0.6
BCTDD003 66.7 67.4 0.13 0.7
BCTDD003 67.4 68.4 0.15 1
BCTDD003 68.4 69 0.16 0.6
BCTDD003 69 70 0.1 1
BCTDD003 70 70.6 0.11 0.6
BCTDD003 70.6 71.6 0.15 1
BCTDD003 89.6 89.8 0.82 0.2 11m @ 1.14 g/t Au
(incl 0.5m @ 11.02 g/t
BCTDD003 89.8 90.05 1.4 0.25 Au from 98.85m)
BCTDD003 90.05 90.9 0.54 0.85
BCTDD003 90.9 91.9 0.31 1
BCTDD003 91.9 92.4 1.17 0.5
BCTDD003 92.4 93.4 0.1 1
BCTDD003 93.4 94.4 0.1 1
BCTDD003 94.4 94.9 1.65 0.5
BCTDD003 94.9 95.4 0.48 0.5
BCTDD003 95.4 96.4 0.34 1
BCTDD003 96.4 96.9 0.26 0.5
BCTDD003 96.9 97.8 0.15 0.9
BCTDD003 97.8 98.4 0.1 0.6
BCTDD003 98.4 98.85 0.12 0.45
BCTDD003 98.85 99.35 11.02 0.5
BCTDD003 99.35 100 0.27 0.65
BCTDD003 100 100.6 0.15 0.6
ABOUT ECR MINERALS PLC
ECR Minerals is a mineral exploration and development company.
ECR's wholly owned Australian subsidiary Mercator Gold Australia
Pty Ltd ("MGA") has 100% ownership of the Bailieston and Creswick
gold projects in central Victoria, Australia, has eight licence
applications outstanding including two licence applications lodged
in eastern Victoria. (Tambo gold project). MGA is currently
drilling at both the Bailieston and Creswick projects and has an
experienced exploration team with significant local knowledge in
the Victoria Goldfields and wider region.
https://mercatorgold.com.au/
ECR also owns 100% of an Australian subsidiary LUX Exploration
Pty Ltd ("LUX") which has three licence applications covering 900
km2 covering a relatively unexplored area in Queensland,
Australia.
https://luxexploration.com/
Following the sale of the Avoca, Moormbool and Timor gold
projects in Victoria, Australia to Fosterville South Exploration
Ltd (TSX-V: FSX) and the subsequent spin-out of the Avoca and Timor
projects to Leviathan Gold Ltd (TSX-V: LVX), Mercator Gold
Australia Pty Limited has the right to receive up to A$2 million in
payments subject to future resource estimation or production from
projects sold to Fosterville South Exploration Limited.
ECR has earned a 25% interest in the Danglay gold project; an
advanced exploration project located in a prolific gold and copper
mining district in the north of the Philippines, which has a 43-101
compliant resource. ECR also holds a royalty on the SLM gold
project in La Rioja Province, Argentina and can potentially receive
up to US$2.7 million in aggregate across all licences.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20210810005601/en/
CONTACT:
ECR Minerals plc
SOURCE: ECR Minerals plc
Copyright Business Wire 2021
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