REG-ECR Minerals plc Bailieston Gold Project Australia - Additional Sampling Results
11/10/2018 07:00
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Bailieston Gold Project Australia - Additional Sampling Results
ECR MINERALS plc
(“ECR Minerals”, “ECR” or the “Company”)
BAILIESTON GOLD PROJECT AUSTRALIA – ADDITIONAL SAMPLING RESULTS
ECR Minerals plc (LON:ECR) the precious metals exploration and
development company is pleased to announce the assay results of the
second batch of rock chip sampling undertaken at the Company’s HR3
project at Bailieston (the “Project”) in Victoria, Australia.
The Company released the results from the first batch of sampling in its
market announcement of 28 September 2018 further details of which can be
found in the following link:
https://polaris.brighterir.com/public/ecr_minerals/news/rns/story/xlme9gr
(http://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fpolaris.brighterir.com%2Fpublic%2Fecr_minerals%2Fnews%2Frns%2Fstory%2Fxlme9gr&esheet=51881426&newsitemid=20181010005995&lan=en-US&anchor=https%3A%2F%2Fpolaris.brighterir.com%2Fpublic%2Fecr_minerals%2Fnews%2Frns%2Fstory%2Fxlme9gr&index=1&md5=eedbd75784d2df580a14c0e76690d650)
Highlights:
* Assay results from a further 75 rock chip samples over the
‘Bailieston’ project confirm gold mineralisation, with assays from 29
samples ranging from 0.56 g/t Au to 22.9 g/t Au;
* Sampling has been extended south to the historic Cherry Tree reefs
(HR4), where 53 rock chip samples out of the 75 samples have been
taken. Results from 22 of these samples show the presence of gold
mineralisation, assays ranging from 0.56 g/t Au to 8.15 g/t Au;
* Repeat assay analysis on 12 selected higher-grade samples returned
similar results, demonstrating some consistency in respect to the
nature of the gold mineralization;
* The assay for one sample (LX0819) which contained a speck of visible
gold at sub-crop was not highlighted in the results (0.18 g/t Au),
showing gold mineralisation in part can be coarse, therefore not
reporting in the fire assay results.
Craig Brown, Chief Executive Officer of ECR Minerals plc,
commented: “I am pleased to report the second batch of sampling
data which, as with the first batch, has produced high grade gold in
rock chip samples including samples taken from the Cherry Tree reefs.
The Company’s technical team are incorporating the findings into our
project database and we are working on the next stage exploration
programme to further examine the extent of gold mineralisation across
the areas sampled.
In addition, the Company awaits the results of rock chip sampling
undertaken at Creswick, where on 25 September 2018 the Company announced
that exploration mapping had revealed a large gold system. The results
from Creswick will be released to the market in the near term.”
Further information in respect of the Project Area and Historical
Sampling
The Bailieston project area contains multiple reefs, including the
Bryon, Scoulars and Maori Reefs that were drilled by the Company in 2017
(results provided in an announcement on 24 July 2017 ). These three
reefs and adjacent reefs were sampled. From historic reporting and the
Company mapping, these reefs are fault-hosted. Where observed, faults
are up to 70 cm wide and contain quartz veins to 15 cm parallel to the
faults and stockwork quartz within the fault zone and in the hanging
wall and footwall sandstones and shales adjacent to the faults. However,
due to the varying quality of the exposure in the open workings, it is
not always possible to ascertain if the sampled material is from within
the fault or in the hanging wall or footwall.
151 rock chip and mullock samples have been previously taken in the
project area, although not all were undertaken by the Company and
therefore not all the results can be verified. In the 1980’s Gold Mines
of Kalgoorlie collected 16 samples with results reaching 2.1 g/t Au. A
comprehensive sampling program in 2014 contained results reaching 23 g/t
Au.
A summary of the sources of historical sampling is provided below:
* 15 samples by Metals Exploration Ltd (later Gold mines of Kalgoorlie).
Reported in the EL1616 Annual Technical Report September 1986;
* 49 samples by Sierra Minerals, EL4719 Sept 2006 ATR;
* 6 samples by Flitegold Ply Ltd (later Currawong Resources, later
Mercator Gold), EL5433 Sept 2013 ATR;
* 62 samples by Flitegold Ply Ltd (later Currawong Resources, later
Mercator Gold), EL5433 Sept 2014 ATR plus an additional sample that
was not submitted;
* 1 sample by Flitegold Ply Ltd (later Currawong Resources, later
Mercator Gold), EL5433 Sept 2015 ATR;
* 13 samples by Flitegold Ply Ltd (and reported by Mercator Gold),
EL5433 Sept 2016 ATR including the best assay of all the sampling of
23 g/t.
The Company’s own sampling program included testing of quartz veins plus
the surrounding sedimentary host rocks. The samples containing the
quartz veins were consistently higher grade. The results from this work
is shown in Figure 9.5 of a Competent Persons Report to the Company
announced on 20(th) April 2016. However, Figure 9.5 does not
distinguish between the samples that have quartz from those that do not
and was assayed by three differing laboratories. The current round of
sampling therefore aims to gain a consistent set of samples, assayed by
only one laboratory.
Mineralised Sample Table
Sample ID Easting Northing Au (ppm) Au_R (ppm)
LX0832 326756 5931071 22.9 22.6
LX0822 326667 5931246 17.1 17
LX0821 326565 5931299 12.8 11.5
LX0842 326779 5929949 8.15 8.8
LX0857 326719 5929831 4.38
LX0831 326748 5931076 4.22 4.17
LX0850 326729 5929888 4.11 4.21
LX0833 326764 5931089 3.59 3.43
LX0853 326733 5929870 2.7
LX0873 326801 5929793 2.48 2.29
LX0855 326760 5929873 2.41
LX0871 326797 5929793 2.3 2.13
LX0883 326816 5929836 2.06 2.23
LX0884 326703 5929753 1.76
LX0869 326785 5929792 1.55
LX0860 326720 5929799 1.54 1.43
LX0827 326700 5931243 1.39
LX0863 326757 5929808 1.12
LX0852 326695 5929886 1.1
LX0872 326797 5929792 1.04
LX0843 326774 5929951 0.99 1.06
LX0888 326663 5929650 0.92
LX0851 326715 5929862 0.76
LX0885 326687 5929700 0.72
LX0858 326708 5929835 0.68
LX0865 326762 5929810 0.58
LX0826 326639 5931235 0.56
LX0868 326777 5929810 0.56
LX0886 326686 5929700 0.56
NOTE:
1. All sample locations reported MGA 94 Zone 55.
2. Analysis by On Site Laboratory Services (ISO 9001 Registered),
Bendigo, Australia.
3. Au_R (ppm): Repeat analysis of original sample
Table 1. Assay results of 29 samples greater than 0.5 g/t Au from the
75 rock chip samples submitted. Repeat analysis results for selected
samples also shown.
COMPETENT PERSON STATEMENT
The information in this announcement that relates to Exploration Results
is based on information compiled by Dr Rodney Boucher of Linex Pty Ltd.
Linex Pty Ltd provides geological services to Mercator Gold Australia
Pty Ltd, including the services of Dr Boucher, who has a PhD in geology,
is a Member and RPGeo of the Australian Institute of Geoscientists and
is a Member of the Australian Institute of Mining and Metallurgy. Dr
Boucher has sufficient experience that is relevant to the style of
mineralisation and type of deposit under consideration and to the
activity being undertaken to qualify as a Competent Person as defined in
the 2012 Edition of the ‘Australasian Code for Reporting of Exploration
Results, Mineral Resources and Ore Reserves’. Dr Boucher consents to the
inclusion in the announcement of the material based on his information
in the form and context in which it appears.
ABOUT ECR MINERALS PLC
ECR is a mineral exploration and development company. ECR’s wholly owned
Australian subsidiary Mercator Gold Australia has 100% ownership of the
Avoca, Bailieston, Creswick, Moormbool and Timor gold exploration
licences in central Victoria, Australia.
ECR has earned a 25% interest in the Danglay epithermal gold project, an
advanced exploration project located in a prolific gold and copper
mining district in the north of the Philippines. An NI43-101 technical
report was completed in respect of the Danglay project in December 2015
and is available for download from ECR’s website.
ECR’s wholly owned Argentine subsidiary Ochre Mining has 100% ownership
of the SLM gold project in La Rioja, Argentina. Exploration at SLM has
focused on identifying small tonnage mesothermal gold deposits which may
be suitable for relatively near-term production.
FOR 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 (mailto:info@ecrminerals.com)
Website:
www.ecrminerals.com (http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.ecrminerals.com%2F&esheet=51881426&newsitemid=20181010005995&lan=en-US&anchor=www.ecrminerals.com&index=2&md5=9f502996e65e0711f2330030f22c9275)
WH Ireland Ltd Tel: +44 (0)161 832 2174
Nominated Adviser
Katy Mitchell/James Sinclair-Ford
SI Capital Ltd Tel: +44 (0)1483 413500
Broker
Nick Emerson
FORWARD LOOKING STATEMENTS
This announcement may include forward looking statements. Such
statements may be subject to numerous known and unknown risks,
uncertainties and other factors that could cause actual results or
events to differ materially from current expectations. There can be no
assurance that such statements will prove to be accurate and therefore
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not place
undue reliance on forward looking statements. Any forward-looking
statements contained herein speak only as of the date hereof (unless
stated otherwise) and, except as may be required by applicable laws or
regulations (including the AIM Rules for Companies), the Company
disclaims any obligation to update or modify such forward-looking
statements because of new information, future events or for any other
reason.
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