REG-ECR Minerals plc Further Gold, Lithium, Tantalum and Niobium Samples Identified at Lolworth Range Project, Queensland
01/02/2023 10:30
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Further Gold, Lithium, Tantalum and Niobium Samples Identified at Lolworth
Range Project, Queensland
ECR MINERALS plc
(“ECR Minerals”, “ECR” or the “Company”)
Further Gold, Lithium, Tantalum and Niobium Samples Identified at Lolworth
Range Project, Queensland
ECR Minerals plc (LON: ECR), the exploration and development company focused
on gold in Australia, is pleased to announce further progress and new results
for gold, Lithium, Tantalum and Niobium from the recently completed stream
sampling campaign at the Lolworth Range project, North Queensland, Australia.
ECR Minerals plc has 100% ownership of three exploration tenements (EPM27901,
EPM27902 and EPM27903), which covers the Lolworth Range, located 120km west of
the famous gold district of Charters Towers. The project is being explored
under ECR’s Australian wholly owned subsidiary Lux Exploration Pty Ltd
(“LUX”).
HIGHLIGHTS
* Results from 144 additional stream sediment samples have been received.
* 19 out of 144 samples show gold values greater than 1 ppm Au, with a best
result of 51 ppm Au.
* 35% of the 144 samples show visible gold in heavy pan concentrates.
* Lithium, Tantalum and Niobium confirmed in streams that drain the hills over a
10km trend from Gorge Creek to Oak Creek.
* Results from 33 regional rock chips reveal anomalous silver at the Uncle
Terry’s Prospect. Two rock chips from outcrop in the Flaggy Creek drainage
show gold results including 4.73 g/t Au.
ECR CEO Andrew Haythorpe commented: “On behalf of the board, we are pleased
to see our Lolworth asset really starting to take shape. With further examples
of visible gold in 35% of samples and the presence of Lithium, Tantalum and
Niobium over a 10km trend, there is a genuine sense that Lolworth could be
developing into a key asset for ECR. The rock chip samples containing gold
from the Uncle Terry prospect adds further credence to this view.”
“There is so much more to come from ECR’s asset portfolio in 2023, and I
look forward to reporting results and campaign developments to you as they
occur.
Plan of the Lolworth tenements showing all gold results to date are shown in
Figure 1 below:
Figure 1: https://www.ecrminerals.com/images/2023/Fig1_230130.png
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.ecrminerals.com%2Fimages%2F2023%2FFig1_230130.png&esheet=53296425&newsitemid=20230201005523&lan=en-US&anchor=https%3A%2F%2Fwww.ecrminerals.com%2Fimages%2F2023%2FFig1_230130.png&index=1&md5=81de541b222ff9d5adbd4e1aef0fcd1e)
Inserts A and Insert B relating to Figure 2 below:
Figure 2-Insert A:
https://www.ecrminerals.com/images/2023/Fig2-InsertA_230130.png
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.ecrminerals.com%2Fimages%2F2023%2FFig2-InsertA_230130.png&esheet=53296425&newsitemid=20230201005523&lan=en-US&anchor=https%3A%2F%2Fwww.ecrminerals.com%2Fimages%2F2023%2FFig2-InsertA_230130.png&index=2&md5=207258c0441d5fa130e2632ea0147586)
Figure 2-Insert B:
https://www.ecrminerals.com/images/2023/Fig2-InsertB_230130.png
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.ecrminerals.com%2Fimages%2F2023%2FFig2-InsertB_230130.png&esheet=53296425&newsitemid=20230201005523&lan=en-US&anchor=https%3A%2F%2Fwww.ecrminerals.com%2Fimages%2F2023%2FFig2-InsertB_230130.png&index=3&md5=d26e4a7c156de9f972a7041b03d9ca69)
Plan showing the Lithium, Tantalum and Niobium stream sampling across the
Lolworth tenements shown in Figure 3 below:
Figure 3: https://www.ecrminerals.com/images/2023/Fig3_230130.png
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.ecrminerals.com%2Fimages%2F2023%2FFig3_230130.png&esheet=53296425&newsitemid=20230201005523&lan=en-US&anchor=https%3A%2F%2Fwww.ecrminerals.com%2Fimages%2F2023%2FFig3_230130.png&index=4&md5=36b84c90a472695d8890a6749b8175d7)
Results for reported stream samples and rock chips are listed in Appendix One
at end of this announcement.
STREAM SAMPLING PROGRAMME - BACKGROUND
A total of 347 stream sediment samples were completed at the Lolworth Range
project between September and December 2022, and to date, ECR has received a
total of 269 of 347 samples back from the lab. All samples are derived from
pan concentrated stream sediment extracted from numerous traps at
pre-determined planned sites and processed at the ALS Laboratory Perth. 33
elements were analysed utilising method ME-ICP61, which invariably returns a
comprehensive digest that unlocks most elements of interest.
ECR pegged the Lolworth Range after initial research revealed that historic
stream sediment sampling undertaken in 1987-1988 showed visible gold. No
follow up work was undertaken to search for gold, and to date no exploration
work has been undertaken in the region for critical minerals such as Lithium.
Given the levels of Lithium, Tantalum and Niobium that sampling has already
uncovered, the Board believes there are clear opportunities for further
discoveries. Currently ground work at the project is at a stand-still due to
the tropical wet season.
GOLD RESULTS AND TRENDS
New results show additional gold values in stream sediments with values
present up to 51 ppm Au, also supported by visible gold present in 35% of pan
samples. Most of the 144 new results were follow-up samples from the initial
results taken from sites within Gorge Creek, Reedy Creek, Flaggy Creek and Oak
Creek drainages (see Figure 1 above).
LITHIUM AND TANTALUM-NIOBIUM TRENDS
ECR recently demonstrated the presence of Lithium, Tantalum and Niobium in the
streams at Gorge Creek and the Upper Glen Creek-Oak Creek area (see RNS dated
23(rd) December 2022 here
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fpolaris.brighterir.com%2Fpublic%2Fecr_minerals_plc%2Fnews%2Frns%2Fstory%2Fxq3mz7r&esheet=53296425&newsitemid=20230201005523&lan=en-US&anchor=here&index=5&md5=48607d1ba6f4ff40fdc94bce77c28b15)
). These results are further enhanced by the high levels of Lithium, Tantalum
and Niobium announced today (see Figure 3 above). The results show that
Lithium is contained within the Gorge Creek drainage area, while the presence
of Tantalum and Niobium has been identified along a line approximately 10km in
length trending north from Gorge Creek to Oak Creek. No Lithium, Tantalum or
Niobium has been detected in any other drainage areas sampled to date within
the EPM licences.
ROCK CHIPS AND UNCLE TERRY’S PROSPECT
The field team have been encouraged to take rock chips from any outcrops
encountered within the planned stream sample sites. Two encouraging results of
4.73 g/t Au and 0.14 g/t Au were taken from an outcrop in the Flaggy Creek
area. The strike area for this outcrop is estimated to cover a distance of
180m in a NE direction, added to which streams immediately along this strike
trend have also reported highly anomalous gold ( See Figure 2-Insert A above).
ECR Technical Director Adam Jones visited the project in November 2022 and at
a quartz outcrop known as Uncle Terry’s, he and the team extracted a total
of 28 rock chips over a strike length of 150m. Results from the oxidised
quartz outcrop, estimated at widths of 3m contained predominantly silver (Ag).
The silver is present at the centre of the outcrop, and while no high grades
were present, a best result of 7.3 g/t Ag was recorded (see Figure 2-Insert B
above). Similar oxidised outcrops were observed in patches to the SW and NE of
the main outcrop. No further work has been undertaken since the visit due to
the wet weather.
NEXT STEPS
The Board are satisfied that these results now show the main areas of focus
for Gold, Lithium, Tantalum and Niobium (Au, Li-Ta-Nb). Once the wet season
passes, the field team will return and complete further stream sampling at the
head waters of the most promising drainage sites. Work is expected to continue
up onto the ridgelines this year where soil sampling will begin. Mapping and
sampling of outcrops will also be undertaken within the gold and Li-Ta-Nb
areas as outlined in Figure 1 above. The Board is hopeful that this work will
identify a series of potential drill targets by the close of the 2023 field
season.
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
(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.ecrminerals.com%2F&esheet=53296425&newsitemid=20230201005523&lan=en-US&anchor=www.ecrminerals.com&index=6&md5=f371107bc68fe9fa33fea76855acd537)
WH Ireland Ltd Tel: +44 (0) 207 220 1666
Nominated Adviser
Katy Mitchell / Andrew de Andrade
SI Capital Ltd Tel: +44 (0) 1483 413500
Broker
Nick Emerson
Novum Securities Limited Tel: +44 (0) 20 7399 9425
Broker
Jon Belliss
Brand Communications Tel: +44 (0) 7976 431608
Public & Investor Relations
Alan Green
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 and can
potentially receive up to US$2.7 million in aggregate across all licences.
APPENDIX ONE
TABLE ONE: All locations for Gold, Lithium, Tantalum and Niobium results (ppm)
from 144 recently received stream samples, Lolworth Range Project. (Locations
reported as GDA94-Zone 55 grid).
SAMPLEID EASTING NORTHING Au (ppm) Li (ppm) Ta (ppm) Nb (ppm)
LWSS002 312747.24 7755208.3 2.700 10 290 535
LWSS003 312937.59 7755402.2 5.560 10 100 281
LWSS005 312327.78 7755159 4.460 10 310 1100
LWSS006 312412.38 7755391.6 0.001 10 200 831
LWSS007 313973.91 7756435 0.128 10 890 2000
LWSS008 313632 7756554.8 0.062 20 850 2000
LWSS009 313998.59 7756294 2.920 10 260 828
LWSS011 312426.49 7755878.1 0.001 10 230 1000
LWSS017 314911.54 7757848.5 0.001 10 280 988
LWSS018 315362.72 7758225.6 0.002 10 100 390
LWSS024 311005.94 7755832.2 4.350 10 820 2000
LWSS025 310241.04 7755962.7 0.001 10 80 308
LWSS026 309229.4 7755758.2 0.001 10 100 532
LWSS027 309010.85 7756664.1 0.014 10 150 621
LWSS028 308531.47 7756893.2 0.001 10 50 177
LWSS029 308644.26 7757880.2 0.021 10 60 156
LWSS030 314435.68 7761708.3 1.525 10 20 114
LWSS031 313505.1 7761521.4 0.001 10 30 189
LWSS032 312930.55 7760555.6 0.001 10 40 267
LWSS033 312511.08 7760950.4 10.000 10 230 707
LWSS034 312592.15 7759988.1 0.238 10 60 162
LWSS035 312289.01 7758958.8 0.497 10 280 735
LWSS036 312623.88 7758786.1 0.001 10 410 1690
LWSS037 312955.22 7759420.6 0.014 10 180 367
LWSS038 307741.5 7762811.4 1.575 10 70 158
LWSS039 308353.07 7763269.7 0.004 10 20 90
LWSS040 307857.83 7762247.5 0.001 10 20 75
LWSS041 308305.87 7759205.6 0.001 10 50 164
LWSS042 309317.51 7759544 0.001 10 30 85
LWSS043 308351.7 7760217.2 0.003 10 10 49
LWSS044 308076.75 7760136.1 0.007 10 20 104
LWSS045 309500.82 7761775.2 0.004 10 150 190
LWSS046 308933.31 7761285.3 0.015 10 10 35
LWSS059 304287.48 7757982.4 8.790 10 10 65
LWSS060 304308.63 7758525.3 6.120 10 20 66
LWSS061 304788.01 7757555.9 0.002 10 20 91
LWSS062 303625.3 7758773.7 0.407 10 10 61
LWSS063 304208.67 7762927.8 0.002 10 20 83
LWSS064 304046.52 7763000 0.001 10 20 88
LWSS065 304156.68 7763678.6 0.007 10 10 38
LWSS066 303467.56 7762036 0.001 10 10 75
LWSS067 303730.55 7757076.5 0.001 10 30 44
LWSS068 304322.73 7756227 0.001 10 80 298
LWSS069 304957.21 7755127.3 0.001 10 20 103
LWSS070 304858.52 7754975.7 0.001 10 60 156
LWSS071 303568.4 7756858 0.001 10 170 494
LWSS072 305739.74 7759526.3 1.815 10 10 16
LWSS073 305588.17 7759420.6 0.001 10 40 136
LWSS074 305965.33 7758186.9 0.007 10 40 19
LWSS075 306233.23 7758179.8 0.001 10 10 16
LWSS076 305789.09 7757682.8 0.001 10 10 45
LWSS126 318994.25 7750560.8 0.001 10 50 180
LWSS127 319043.6 7750571.3 0.002 10 80 252
LWSS128 319117.62 7750500.8 0.001 10 20 41
LWSS129 318157.09 7749845.2 0.001 10 130 360
LWSS130 318493.72 7749524.4 0.001 10 10 9
LWSS131 317663.6 7749683.1 0.001 10 10 14
LWSS132 317727.06 7749845.2 0.001 10 60 90
LWSS133 319297.39 7748925.2 0.001 10 10 14
LWSS134 319463.06 7747472.9 0.003 10 10 22
LWSS135 319233.94 7747480 0.001 10 10 16
LWSS136 319614.64 7747892.4 0.001 20 60 181
LWSS137 319634.02 7747183.9 0.699 10 10 27
LWSS138 319811.15 7746709.8 0.001 10 10 19
LWSS139 318826.82 7747095.8 0.001 30 10 5
LWSS140 317667.12 7747846.6 0.001 40 10 7
LWSS141 317720.01 7748177.9 0.001 30 10 9
LWSS142 317113.72 7746849 0.028 20 10 5
LWSS143 318305.13 7746330.9 0.001 20 10 5
LWSS144 318636.47 7746489.5 0.001 30 10 5
LWSS145 317649.5 7747472.9 0.001 40 10 5
LWSS146 317512.04 7747321.4 0.001 20 10 5
LWSS165 310545.95 7752670.4 0.001 10 10 22
LWSS166 311293.23 7752293.2 0.001 10 10 8
LWSS167 311892.46 7751648.2 0.003 20 10 7
LWSS168 310653.46 7753033.5 0.001 10 10 40
LWSS169 311164.57 7753347.2 0.001 10 10 52
LWSS170 310910.77 7753660.9 0.001 10 10 10
LWSS171 310501.88 7753153.3 0.005 20 50 242
LWSS172 310359.12 7752184 51.000 10 10 19
LWSS173 310655.21 7751503.7 0.001 10 10 10
LWSS174 310380.27 7751849.1 0.113 10 10 9
LWSS175 310204.03 7752504.7 0.001 20 10 51
LWSS176 310482.5 7750900.9 0.021 10 10 8
LWSS177 310309.78 7750971.4 0.001 10 10 5
LWSS178 309294.61 7751782.1 0.014 10 10 46
LWSS179 309326.33 7751620 0.002 10 10 16
LWSS180 309340.43 7750982 6.060 20 10 5
LWSS181 308173.69 7751507.2 0.221 20 50 31
LWSS182 308244.19 7751894.9 0.005 20 30 105
LWSS183 307754.23 7751556.5 0.003 20 50 84
LWSS191 322499.77 7748489.9 0.001 10 110 247
LWSS192 322390.49 7748391.2 0.001 10 20 38
LWSS193 321748.96 7748278.4 0.020 10 60 145
LWSS194 322390.49 7748826.5 0.001 20 20 43
LWSS195 320867.74 7748768.3 0.001 10 10 9
LWSS196 321135.63 7749046.8 0.001 10 10 25
LWSS197 307740.13 7750231.2 0.001 30 10 12
LWSS200 307863.5 7750492 0.088 20 30 32
LWSS216 314069.55 7754181.5 0.001 10 30 172
LWSS217 315247.01 7754773.5 0.001 10 50 109
LWSS218 313907.49 7755041.4 0.001 10 10 44
LWSS219 315538.07 7753979.7 0.001 10 80 290
LWSS220 315653.83 7753606 0.002 10 20 94
LWSS221 313947.19 7756453.7 1.010 20 1200 2000
LWSS222 314370.53 7757282.2 0.001 10 280 1085
LWSS223 314028.21 7757108.6 0.001 10 410 1515
LWSS224 314919.58 7756724.9 0.001 10 30 117
LWSS225 314686.4 7756212.3 2.820 10 330 1015
LWSS226 315496.73 7756349.5 0.577 10 330 865
LWSS235 298514.54 7760139.9 0.018 10 10 75
LWSS236 298383.9 7759655.3 0.001 10 10 45
LWSS237 299090.05 7760824.5 0.156 10 10 19
LWSS238 299220.69 7760730.3 0.993 10 10 30
LWSS239 299250.46 7761256.1 0.003 10 10 8
LWSS240 299515.05 7761087.5 2.190 10 40 129
LWSS241 300227.82 7760789.8 0.001 10 50 195
LWSS242 300214.59 7760624.4 0.003 10 20 80
LWSS243 299033.83 7757950.3 0.001 10 10 39
LWSS244 299020.59 7757680.8 0.001 10 10 18
LWSS245 298364.06 7757765.1 0.002 10 10 34
LWSS246 300376.65 7759571 0.010 10 10 67
LWSS248 314011.72 7756160.3 5.690 10 590 2000
LWSS249 314001.57 7755832.4 0.001 10 120 374
LWSS250 298718.64 7760863.7 0.005 10 10 54
LWSS256 312865.3 7752516.4 2.050 10 10 68
LWSS257 313150.63 7752351.1 0.002 10 10 21
LWSS258 313238.12 7752794.8 0.001 10 30 128
LWSS268 315810.55 7746062.2 0.001 20 10 6
LWSS269 315373.85 7746196.7 0.001 30 10 6
LWSS270 315357.23 7745927.5 0.001 20 10 5
LWSS271 316180.21 7745816.7 0.001 20 10 6
LWSS272 316350.1 7745452.2 0.001 20 10 10
LWSS273 318476.24 7745781.9 0.003 20 10 10
LWSS274 291324.1 7763871 0.001 10 10 5
LWSS275 293297.44 7762831 0.001 10 10 24
LWSS276 293082.03 7763166.4 0.001 10 10 5
LWSS277 290776.11 7761699.2 0.001 10 10 23
LWSS278 291905.83 7761305.9 0.001 10 10 31
LWSS279 291501.85 7759715.4 1.205 10 10 29
LWSS280 291369.2 7759845.2 0.001 20 10 62
LWSS281 289171.01 7765431.9 0.001 10 10 5
LWSS283 286679.37 7764836.9 0.001 10 10 5
LWSS284 286501.44 7765111.2 0.001 10 10 5
TABLE TWO: All locations of rock chip results (g/t). (Locations reported as
GDA94-Zone 55 grid).
SAMPLEID EASTING NORTHING Comment Au (ppm) Ag (ppm) Pb (ppm) Zn (ppm) As (ppm)
LWC002 298771 7760765 Qtz Sub-Crop Flaggy Creek (along strike) 0.14 5.50 72 7 5
LWC003 298694 7760685 Qtz Sub-Crop Flaggy Creek (along strike) 4.73 4.50 542 21 5
LWC004 319550 7746711 0.04 0.50 3 7 5
LWC005 308944 7756137 Qtz Sub-Crop 0.01 1.00 152 8 132
LWC006 312627 7759835 Altered Granite-Outcrop 0.00 0.50 26 24 10
LWC010 312397.2 7752081.2 Uncle Terry Prospect 0.01 0.50 18 14 263
LWC011 312395.2 7752078.3 Uncle Terry Prospect 0.01 0.50 18 15 68
LWC012 312393.6 7752074.7 Uncle Terry Prospect 0.01 0.50 12 11 103
LWC013 312387.5 7752066.6 Uncle Terry Prospect 0.03 0.90 124 37 652
LWC014 312384.2 7752063 Uncle Terry Prospect 0.04 0.50 37 19 727
LWC015 312376.2 7752052.9 Uncle Terry Prospect 0.00 0.50 2 2 159
LWC016 312372 7752041.1 Uncle Terry Prospect 0.01 0.50 2 3 13
LWC017 312366.3 7752029 Uncle Terry Prospect 0.00 0.50 2 2 21
LWC018 312355.1 7752022.8 Uncle Terry Prospect 0.01 0.50 2 2 8
LWC019 312354.5 7752022.7 Uncle Terry Prospect 0.01 0.50 2 2 5
LWC020 312352.9 7752029 Uncle Terry Prospect 0.10 1.80 209 86 722
LWC021 312348.7 7752028.5 Uncle Terry Prospect 0.08 0.50 13 11 646
LWC022 312344 7752024.4 Uncle Terry Prospect 0.06 0.50 59 17 1035
LWC023 312346.8 7752024.8 Uncle Terry Prospect 0.04 0.60 39 11 576
LWC024 312342 7752019.4 Uncle Terry Prospect 0.05 2.40 276 6 544
LWC025 312338.6 7752012.7 Uncle Terry Prospect 0.06 7.30 888 14 1305
LWC026 312328.8 7752009.2 Uncle Terry Prospect 0.05 3.60 489 7 829
LWC027 312420.4 7752160.3 Uncle Terry Prospect 0.01 0.50 5 2 10
LWC028 312419.3 7752123.5 Uncle Terry Prospect 0.00 0.50 7 3 9
LWC029 312416.8 7752118.8 Uncle Terry Prospect 0.00 0.50 7 2 13
LWC030 312356.6 7752333.7 Uncle Terry Prospect 0.01 0.50 9 9 45
LWC031 312142.9 7751991.6 Uncle Terry Prospect 0.01 0.50 4 9 5
LWC032 312150.1 7752003 Uncle Terry Prospect 0.02 0.50 4 10 6
LWC033 312150.3 7752005.2 Uncle Terry Prospect 0.01 0.50 17 6 5
LWC034 312144.1 7751988.9 Uncle Terry Prospect 0.01 0.50 3 4 5
LWC035 312142.1 7751977.4 Uncle Terry Prospect 0.01 0.50 3 3 5
LWC036 312142.9 7751991.6 Duplicate of LWC031 0.00 0.50 4 11 5
LWC037 312410.2 7751152.8 Uncle Terry Prospect 0.01 0.50 2 2 5
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