REG - ECR Minerals PLC - Additional Creswick results raise gold grades

ECR MineralsAnnouncement

12/02/2024 07:15

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RNS Number : 7304C  ECR Minerals PLC  12 February 2024

ECR MINERALS plc

("ECR Minerals", "ECR" or the "Company")

Additional Creswick drilling results raise overall gold grades

ECR Minerals plc (LON: ECR), the exploration and development company focused
on gold in Australia, is pleased to provide additional results from its
drilling programme at the Davey Road site in its Creswick tenement.  These
results comprise the bulk sample testing following the preliminary results
announced on 5 February 2024.

HIGHLIGHTS

●     Significant increase in gold grades overall with the best result
now 41.03 g/t Au over 1 metre.

●     Several other significant results including 10.26 g/t Au, 8.46 g/t
Au and 6.22 g/t Au.

●  Importantly, the bulk sample results show contiguous gold over multiple
metres - of particular note, approximately 4.4 g/t Au average over 3 metres in
hole 1 (between 36 - 39 metres depth).

●     Bulk sample testing has indicated both greater prevalence and
higher grades of gold.

●  This phase of drilling completed on time and on budget and second phase
of drilling at Kuboid Hill, Creswick now underway.

Bulk samples from the 20-30kg 'leftovers' from the preliminary drilling
results were concentrated in a dry blower with subsequent panning consistently
showing visible gold. Pan concentrate samples ranged in weight between 0.29kg
and 1.79kg.  A total of 32 samples were selected for testing from 1 metre
intervals that showed anomalous gold.

The rig is now back on site at Kuboid Hill as the second phase of the
Company's drilling programme in Creswick gets fully underway.  Further
announcements will be made in due course.

Details of current drilling and significant intercepts > 0.5g/t

 Hole ID   Total depth (metres)  Significant intercepts in preliminary results  Significant intercepts following bulk sample testing  Concentrate weight (kg)
 CDYRC001  66                    -                                              1m @ 2.03 g/t Au from 5m                              0.59

                                                                                41.03 g/t Au

                                 1m @ 2.53 g/t Au from 6m                                                                             0.54

                                 -                                              1m @ 0.62 g/t Au from 26m

                                                                                8.46 g/t Au                                           1.24

                                 1m @ 2.42 g/t Au from 37m

                                 1m @ 0.79 g/t Au from 38m                      1.62 g/t Au                                           0.92

                                 1m @ 0.53 g/t Au from 29m

                                 1m @ 0.50 g/t Au from 30m                      0.64 g/t Au                                           0.89

                                 -

                                                                                0.85 g/t Au                                           0.53

                                                                                1m @ 3.19 g/t Au from 36m                             0.94

                                                                                                                                      1.04
 CDYRC002  84                    No significant intercepts reported             No significant intercepts reported
 CDYRC003  84                    No significant intercepts reported             1m @ 0.63 g/t Au from 19m                             0.57

 CDYRC004  84                    No significant intercepts reported             1m @ 0.88 g/t Au from 54m                             1.24

                                                                                1m @ 3.47 g/t Au from 55m

                                                                                                                                      1.30
 CDYRC005  54                    1m @ 23.39 g/t Au from 14m                     10.26 g/t Au                                          1.79

                                 1m @ 1.01 g/t Au from 15m

                                                                                0.41 g/t Au                                           0.86
 CDYRC006  84                    No significant intercepts reported             No significant intercepts reported
 CDYRC007  66                    No significant intercepts reported             1m @ 6.22 g/t Au from 12m                             1.09

 

Nick Tulloch Managing Director said: "These results at Davey Road are very
promising indeed.  As we anticipated, bulk sample analysis has provided far
greater clarity on the prospect as well as indicating contiguous gold over
multiple metres in depth.  The higher grades now being indicated support our
view that Creswick has the potential to become a very significant asset for
our company.  Drilling was completed on time and on budget and we have now
commenced our follow-on drilling programme at nearby Kuboid Hill.  We have
much to look forward to from that campaign as we develop our ongoing analysis
and understanding of the wider location."

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

 Nick Tulloch, Managing Director

 Andrew Scott, Director

 Email:

 info@ecrminerals.com (mailto:info@ecrminerals.com)
 Website: www.ecrminerals.com
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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 active exploration tenements and two in application
(Ballarat and Tambo).

 

ECR also owns 100% of an Australian subsidiary LUX Exploration Pty Ltd
("LUX"), which has three approved exploration permits covering 946 km(2) over
a relatively unexplored area in Lolworth Range, Queensland, Australia. The
Company has also submitted a license application at Kondaparinga which is
approximately 120km(2) in area and located within the Hodgkinson Gold
Province, 80km NW of Mareeba, North Queensland.

 

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 holds a 90% 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.

 

 

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