REG-ECR Minerals plc Encouraging Results from First Drill Hole of 2022 at Blue Moon, Victoria

ECR MineralsAnnouncement

17/11/2022 07:15

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Encouraging Results from First Drill Hole of 2022 at Blue Moon, Victoria

 

ECR MINERALS plc

(“ECR Minerals”, “ECR” or the “Company”)

Encouraging Results from First Drill Hole of 2022 at Blue Moon, Victoria

ECR Minerals plc (LON: ECR), the exploration and development company focused
on gold in Australia, is pleased to announce gold results from the first
drillhole for 2022 (BBMDD004) completed at Blue Moon.

ECR Minerals plc has 100% ownership of the Bailieston Project (EL5433), which
contains the gold prospects known as HR3, Cherry Tree, Blue Moon and Black
Cat. The projects are operated and drilled by ECR’s Australian wholly owned
subsidiary Mercator Gold Australia Pty Ltd (“MGA”).

ECR CEO Andrew Haythorpe commented: “I am pleased to report an encouraging
grade from the first Blue Moon drill hole of the 2022 Blue Moon campaign. The
programme has been designed to test for mineralised continuity of the Blue
Moon gold bearing structure and we’re very encouraged by what we’ve seen
so far. As previously stated, the drill site is located west of where the 2019
RC drill programme finished, so a decision on further drilling activity will
be made once the results for the remaining holes are in.”

“ECR is entering a busy period as we complete our initial sampling campaign
at Lolworth and finalise planning an initial field campaign at the Hurricane
project in N Queensland. With soil sample lab results from Creswick also due,
I am very much looking forward to reporting results of the next three Blue
Moon holes along with our next steps to the market as and when we have
them.”

HIGHLIGHTS


 * Results from the first diamond drillhole for 2022 are encouraging with 0.5m @
7.29 g/t Au from 96.9m.

 * Drilling continues with three out of a planned four-hole program completed to
date with samples awaiting results pending.

Figure 1. Best gold intercept with the BBMDD004 drill core is represented
here; https://www.ecrminerals.com/images/2022/fig1_Best_Intercept_BBMDD004.png
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.ecrminerals.com%2Fimages%2F2022%2Ffig1_Best_Intercept_BBMDD004.png&esheet=52971826&newsitemid=20221116006123&lan=en-US&anchor=https%3A%2F%2Fwww.ecrminerals.com%2Fimages%2F2022%2Ffig1_Best_Intercept_BBMDD004.png&index=1&md5=1039311e4417479859ea50481925e340)

BBMDD004

BBMDD004 is the first diamond drillhole completed from an initial four-hole
programme designed to test for mineralised continuity of the Blue Moon gold
bearing structure. The drill site is located west of where the 2019 RC drill
programme finished. Hosted within an east-west striking dyke formation,
mineralisation at the Blue Moon prospect is characterised by alteration and
bleaching of the dyke as seen in figure 1 above. The mineralised fluids
responsible for the bleaching are also identified by the increase in the
arsenic geochemistry and pyritic sulphidation. Geological logging to date has
also identified that gold mineralisation is most evident in the vicinity of
millimetre scale swarms of quartz-carbonate veinlets (figure 1). The best
intercept in BBMDD004 of 0.5m @ 7.29 g/t Au from 96.9m downhole is associated
with such veinlets. All reportable gold intercepts greater than 0.1 g/t Au
from hole BBMDD004 are presented in Table 1 below.

NEXT STEPS

Drilling is now complete at three out of the four planned holes. Sampling has
also been completed and we anticipate that the next results will be reported
before the Christmas period. The drill core looks encouraging with the typical
bleaching and sulphides present in all holes drilled to date. Accordingly, the
Directors have agreed that the final decision to continue with further
drilling will be based on the pending drill results.

Table 1. Drill intercepts containing reportable levels of gold in BBMDD004
 From (m)  To (m)  Grade (g/t Au)  Interval (m)  Gram x Metres  
 35        36      0.11            1             0.11           
 36        36.6    0.11            0.6           0.07           
 85.4      86.4    0.56            1             0.56           
 86.4      87.4    0.17            1             0.17           
 87.4      88      0.27            0.6           0.16           
 88        89      0.15            1             0.15           
 89        89.9    0.72            0.9           0.65           
 89.9      91      0.31            1.1           0.34           
 92        93      0.20            1             0.20           
 96.9      97.4    7.29            0.5           3.65           
 97.4      98.4    0.21            1             0.21           


*Gram metres represents the contained Au metal within the reported length,
calculated as interval (m) multiplied by grade (g/t Au)

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                                                                                                                                                                                                                                                            
 
                                                                                                                                                                                                                                                                                             
 Andrew Haythorpe, CEO                                                                                                                                                                                                                                                                         
                                                                                                                                                                                                                                                                                               
 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 six licence applications outstanding which includes
one licence application lodged in eastern Victoria. (Tambo gold project). MGA
is currently drilling at the Bailieston Blue Moon Project (EL5433) and
undertaking geochemical exploration on the Creswick (EL6148) project and has
an experienced exploration team with significant local knowledge in the
Victoria Goldfields and wider region.

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 Queensland, Australia.

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 70% 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



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ECR Minerals plc


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