REG-ECR Minerals plc Gold & Niobium Rock Chip Results from the Lolworth Project
15/08/2023 15:15
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Gold & Niobium Rock Chip Results from the Lolworth Project
ECR MINERALS plc
(“ECR Minerals”, “ECR” or the “Company”)
Gold and Niobium Rock Chip Results from the Lolworth Project, Queensland
ECR Minerals plc (LON: ECR), the exploration and development company focused
on gold in Australia, is pleased to announce the results from the first batch
of rock chips at the Lolworth Project, Queensland.
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. Previous exploration campaigns
from 2021 have identified the presence of Gold (Au), Niobium-Tantalum (Nb-Ta)
and REE mineralisation within the licenced area. The project is being explored
under ECR’s Australian wholly owned subsidiary Lux Exploration Pty Ltd
(“LUX”).
HIGHLIGHTS
* Gold results from outcrop in the Reedy Creek area of 22 g/t Au and 0.54 g/t
Au.
* Niobium results up to 96.7 ppm from Pegmatite outcrops in the headwaters of
Oaky Creek.
CEO Andrew Haythorpe commented: “Further great work from Adam Jones and the
field team in collating and defining the key areas of interest at our Lolworth
project. Exploring and mapping a large area of virgin territory requires an
organised and disciplined approach, but it is rapidly becoming evident that
thanks to the diligence of our field team, we are zeroing in on areas with
high potential at Oaky Creek and Reedy Creek.”
I look forward to reporting further news in the coming weeks.”
(Figure One) Map of the anomalous Niobium areas identified from soil sampling
and rock chips to date in the headwaters of Oaky Creek:
Figure One: https://www.ecrminerals.com/images/2023/Fig1_Nb_Chips_230815.png
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.ecrminerals.com%2Fimages%2F2023%2FFig1_Nb_Chips_230815.png&esheet=53534620&newsitemid=20230815592377&lan=en-US&anchor=https%3A%2F%2Fwww.ecrminerals.com%2Fimages%2F2023%2FFig1_Nb_Chips_230815.png&index=1&md5=fffbf6281d8d8f6fdce20e2b8b393d1e)
NIOBIUM ROCK CHIP RESULTS
A total of 74 rock chips were taken from outcropping pegmatites that abound
within a highly anomalous niobium stream catchment area forming part of the
upper end of Oaky Creek. Previous results from this stream for Niobium and
Tantalum indicated the mineralisation source was likely to exist within the
amphitheatre of this ridgeline (see Figure One above), and this was supported
by pXRF analysis of soil samples taken and analysed with our hand held pXRF
device (see announcement dated July 22 2023 here
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fpolaris.brighterir.com%2Fpublic%2Fecr_minerals_plc%2Fnews%2Frns%2Fstory%2Frno1j2w&esheet=53534620&newsitemid=20230815592377&lan=en-US&anchor=here&index=2&md5=4ae4e9a06ec7f707ee97dc8a0de03750)
). The best Niobium samples were located on the western edge of the drainage
area (see Figure One), and it was noted that these pegmatites had been
silicified and albatised. Results up to 96.7 ppm Nb were recorded, along with
results across a further twelve samples all greater than 50 ppm Nb. Our team
continue to systematically work across a large area, collecting further rock
chip samples, and the Board believes that the combination of previous soil
sample results and follow-up rock chip samples could ultimately lead our team
to a potential source of mineralisation.
REEDY CREEK AREA
Reedy Creek has been a focus for gold mineralisation for the ECR field team.
An initial selection of 28 rock chip samples were taken from the hill slopes
within the catchment area where visible coarse gold had been noted in the pan
concentrate samples and where gold nuggets were located on the slopes above
the best pan concentrate results. Only two rock chip samples to date have
shown gold mineralisation, with a best result of 22 g/t Au obtained from a
large quartz outcrop on one of the hillsides. A rock chip sample returning
0.54 g/t Au was obtained from a narrow quartz sub-crop residing on a spur
ridge situated between two gold bearing creek drainages. The Board have
concluded that the Reedy Creek area is host to gold mineralisation only.
FOLLOW UP ACTIVITIES
The field team has now moved further to the south of the project area to
follow up gold bearing drainages. Prior to this move, a further batch of
stream samples were submitted from streams on the western and southern side of
Reedy Creek, some of which showed visible gold. The Board believes this could
lead to another potential anomalous gold bearing area.
A programme of further defined soil sampling has been undertaken across the
best results previously identified from the preliminary soil grid. These will
be also analysed for Niobium by pXRF this month. The Board believes that these
results will guide to better outcrops, that can in turn be followed up with
rock chip sampling to confirm the presence of Niobium. The timing of this work
is governed by cattle mustering activities in the area, but nonetheless it is
expected that the work will be completed within the next few weeks.
Exploration is also continuing to the south of Reedy Creek on an adjoining
cattle grazing property. The creeks observed within the area are geologically
similar to Reedy Creek where coarse gold is present. The field team will map
the area and take rock chips from the creek headwaters during the month, with
results expected approximately 15 days from the samples arriving at the
laboratory.
Separately, a large rock chip programme is scheduled to commence shortly at
the Hurricane Project, located 400km north of the Lolworth Project.
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=53534620&newsitemid=20230815592377&lan=en-US&anchor=www.ecrminerals.com&index=3&md5=35df972452a7c31554070111edd47ffa)
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 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.
APPENDIX ONE
TABLE ONE: All Gold and Niobium results from rock chips, Lolworth Project,
QLD.
* (Locations reported as GDA94 Zone 55).
* 1ppm = 1 g/t.
* Analysis not undertaken for samples noted (n/a)
SampleID Easting Northing Au ppm Nb ppm Prospect
LWC042 313494 7756228 0.01 27.5 Oaky Creek
LWC043 313502 7756240 0.01 17.3 Oaky Creek
LWC044 313499 7756246 0.01 19.75 Oaky Creek
LWC045 313527 7756275 0.01 19.35 Oaky Creek
LWC046 313486 7756222 0.01 28.1 Oaky Creek
LWC047 313483 7756249 0.01 17.25 Oaky Creek
LWC048 313460 7756240 0.01 24 Oaky Creek
LWC049 313442 7756225 0.01 60.3 Oaky Creek
LWC050 313421 7756226 0.01 48.4 Oaky Creek
LWC051 313696 7756260 0.01 18.4 Oaky Creek
LWC052 313684 7756253 0.01 22.5 Oaky Creek
LWC053 313679 7756246 0.01 33.7 Oaky Creek
LWC054 313716 7756272 0.01 29 Oaky Creek
LWC055 313708 7756260 0.01 47.9 Oaky Creek
LWC056 313779 7756324 0.01 27 Oaky Creek
LWC057 313798 7756332 0.01 21.6 Oaky Creek
LWC058 313786 7756326 0.01 12.15 Oaky Creek
LWC059 313791 7756330 0.01 21.5 Oaky Creek
LWC060 313781 7756381 0.01 18.7 Oaky Creek
LWC061 313747 7756393 0.01 47.3 Oaky Creek
LWC062 313728 7756366 0.01 39.1 Oaky Creek
LWC063 313731 7756367 0.01 48.8 Oaky Creek
LWC064 313597 7756418 0.01 48.3 Oaky Creek
LWC065 313585 7756484 0.01 16.6 Oaky Creek
LWC066 313589 7756487 0.01 26.1 Oaky Creek
LWC067 313593 7756487 0.01 20.9 Oaky Creek
LWC068 313609 7756499 0.01 66.8 Oaky Creek
LWC069 313592 7756496 0.01 29.9 Oaky Creek
LWC070 313575 7756496 0.01 9.49 Oaky Creek
LWC071 313577 7756506 0.01 69.9 Oaky Creek
LWC072 313568 7756503 0.01 52.4 Oaky Creek
LWC073 313562 7756501 0.01 53.5 Oaky Creek
LWC074 313544 7756505 0.01 89.9 Oaky Creek
LWC075 313527 7756510 0.01 38.4 Oaky Creek
LWC076 313494 7756524 0.01 26.5 Oaky Creek
LWC077 313477 7756523 0.01 30.4 Oaky Creek
LWC078 313346 7756354 0.01 49 Oaky Creek
LWC079 313337 7756337 0.01 35.2 Oaky Creek
LWC080 313326 7756341 0.01 50.5 Oaky Creek
LWC081 313342 7756316 0.01 43 Oaky Creek
LWC082 313329 7756400 0.01 50 Oaky Creek
LWC083 313322 7756402 0.01 33 Oaky Creek
LWC084 313328 7756381 0.01 54.9 Oaky Creek
LWC085 313346 7756406 0.01 54.9 Oaky Creek
LWC086 313292 7756509 0.01 24.4 Oaky Creek
LWC087 313320 7756543 0.01 24.1 Oaky Creek
LWC088 313344 7756629 0.01 21.2 Oaky Creek
LWC089 313348 7756718 0.01 21.5 Oaky Creek
LWC090 313415 7756749 0.01 25.2 Oaky Creek
LWC091 313457 7756716 0.01 35.9 Oaky Creek
LWC092 313245 7756755 0.01 55.8 Oaky Creek
LWC093 312788 7756921 0.01 38.1 Oaky Creek
LWC094 312982 7756984 0.01 48.2 Oaky Creek
LWC095 313321 7756855 0.01 n/a Oaky Creek
LWC096 313319 7756855 0.01 n/a Oaky Creek
LWC097 313334 7756840 0.01 n/a Oaky Creek
LWC098 313337 7756838 0.01 n/a Oaky Creek
LWC099 313344 7756830 0.01 n/a Oaky Creek
LWC100 313325 7756851 0.01 n/a Oaky Creek
LWC101 313280 7756885 0.01 n/a Oaky Creek
LWC102 313277 7756885 0.01 n/a Oaky Creek
LWC103 313275 7756887 0.01 n/a Oaky Creek
LWC104 313690 7757013 0.01 11.7 Oaky Creek
LWC105 313813 7756797 0.01 96.7 Oaky Creek
LWC106 314005 7756979 0.01 n/a Oaky Creek
LWC107 314006 7756983 0.01 n/a Oaky Creek
LWC108 313992 7757001 0.01 n/a Oaky Creek
LWC109 313987 7757009 0.01 n/a Oaky Creek
LWC110 313978 7757036 0.01 n/a Oaky Creek
LWC111 312980 7755519 0.01 n/a
LWC112 312926 7755451 0.01 n/a
LWC113 312921 7755432 0.01 n/a
LWC114 312914 7755419 0.15 n/a
LWC115 312915 7755425 0.04 n/a
LWC116 309981 7751194 0.01 n/a Reedy Creek
LWC117 309625 7750905 0.01 n/a Reedy Creek
LWC118 309572 7750895 0.01 n/a Reedy Creek
LWC119 309462 7751029 0.01 n/a Reedy Creek
LWC120 309566 7751038 0.01 n/a Reedy Creek
LWC121 309563 7751039 0.01 n/a Reedy Creek
LWC122 309560 7751034 0.01 n/a Reedy Creek
LWC123 308911 7751039 0.01 n/a Reedy Creek
LWC124 309346 7750941 0.06 n/a Reedy Creek
LWC125 309346 7750941 0.04 n/a Reedy Creek
LWC126 309346 7750941 22 n/a Reedy Creek
LWC127 309345 7750936 0.02 n/a Reedy Creek
LWC128 309341 7750932 0.13 n/a Reedy Creek
LWC129 309314 7750910 0.01 n/a Reedy Creek
LWC130 309308 7750910 0.01 n/a Reedy Creek
LWC131 309234 7750811 0.01 n/a Reedy Creek
LWC132 309371 7750807 0.01 n/a Reedy Creek
LWC133 309330 7750867 0.01 n/a Reedy Creek
LWC134 309360 7750937 0.02 n/a Reedy Creek
LWC135 309413 7751029 0.01 n/a Reedy Creek
LWC136 309408 7751026 0.54 n/a Reedy Creek
LWC137 309425 7750721 0.02 n/a Reedy Creek
LWC138 309439 7750768 0.01 n/a Reedy Creek
LWC139 309441 7750766 0.01 n/a Reedy Creek
LWC140 309444 7750763 0.01 n/a Reedy Creek
LWC141 309444 7750807 0.01 n/a Reedy Creek
LWC142 309442 7750808 0.01 n/a Reedy Creek
LWC143 309443 7750807 0.01 n/a Reedy Creek
LWC144 313202 7757630 0.01 21.6 Oaky Creek Nb-Ta
LWCA38 313651 7756090 0.01 13.2 Oaky Creek
LWCA39 313639 7756200 0.01 27.8 Oaky Creek
LWCA40 313488 7756224 0.01 23.1 Oaky Creek
LWCA41 313477 7756220 0.01 27.4 Oaky Creek
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