REG-ECR Minerals plc Latest Results for Lolworth Gold, Niobium, Tantalum and REE Samples
08/08/2023 07:15
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Latest Results for Lolworth Gold, Niobium, Tantalum and REE Samples
ECR MINERALS plc
(“ECR Minerals”, “ECR” or the “Company”)
Latest Results for Lolworth Gold, Niobium, Tantalum and REE Pan Concentrate
Stream Samples
ECR Minerals plc (LON: ECR), the exploration and development company focused
on gold in Australia, is pleased to announce the first batch of results for
follow-up pan concentrate stream sampling targeting Gold, Niobium, Tantalum
and REE 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
* A total of 200 results for pan concentration stream samples from the first
part of the 2023 field season have been received.
* Gold pan concentrates with results up to 594 ppm and multiple occurrences of
visible gold have been recorded around the Reedy Creek area.
* 28 out of 200 samples show values greater than 500 ppm in Niobium, and these
results continue to add to the Board’s confidence that we are zeroing in on
the source rocks and a potentially significant discovery.
* Rare Earth Element (Neodymium) has also been identified over a broad area of
the project area with 19 out of the 200 samples greater than 1000ppm Nd.
CEO Andrew Haythorpe commented: “Putting aside the fact today’s results
add a further significant piece to the Lolworth jigsaw, the progress announced
today also serves to illustrate the painstaking and methodical work by Adam
Jones and the field team in mapping and logging a hitherto virtually untouched
and unexplored area. The detail now provided by the numerous Gold, Niobium and
Tantalum results generated from this work are enabling us to zero in on the
sources and the high potential locations in order that we can delineate drill
targets.”
“ECR’s Lolworth project continues to exceed expectations. Meanwhile we
expect to report further results from our projects within a week.”
(Figure One) Map of the Lolworth Project area with locations of best Gold
Prospects Identified to date on the Lolworth Project Area:
https://www.ecrminerals.com/images/2023/Fig1_Gold_Aug-2023.png
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.ecrminerals.com%2Fimages%2F2023%2FFig1_Gold_Aug-2023.png&esheet=53512163&newsitemid=20230807557961&lan=en-US&anchor=https%3A%2F%2Fwww.ecrminerals.com%2Fimages%2F2023%2FFig1_Gold_Aug-2023.png&index=1&md5=8c5c8b02363638f1408afc7a5a466427)
(Figure Two) Map of Gold results to date from the Reedy Creek area:
https://www.ecrminerals.com/images/2023/Fig2_Reedy-Ck_Aug-2023.png
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.ecrminerals.com%2Fimages%2F2023%2FFig2_Reedy-Ck_Aug-2023.png&esheet=53512163&newsitemid=20230807557961&lan=en-US&anchor=https%3A%2F%2Fwww.ecrminerals.com%2Fimages%2F2023%2FFig2_Reedy-Ck_Aug-2023.png&index=2&md5=6c17e14ab556e48c82fb4ba5da7475af)
(Figure Three) Overview map showing the values of Niobium and Neodymium across
the Lolworth Project area:
https://www.ecrminerals.com/images/2023/Fig3_Nb-Ta-Nd_Aug-2023.png
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.ecrminerals.com%2Fimages%2F2023%2FFig3_Nb-Ta-Nd_Aug-2023.png&esheet=53512163&newsitemid=20230807557961&lan=en-US&anchor=https%3A%2F%2Fwww.ecrminerals.com%2Fimages%2F2023%2FFig3_Nb-Ta-Nd_Aug-2023.png&index=3&md5=f70383368f96142197b4de7e1f785afe)
FIRST PAN CONCENTRATE RESULTS FOR 2023
ECR has received 200 results from the first submitted batch of pan concentrate
samples for the 2023 field season. A total of 628 pan concentrate samples have
been taken since the beginning of exploration at the Lolworth Project in 2022,
and the field team continue to record daily occurrences of visible gold during
the pan sampling process. Best gold results include 594 ppm and 138 ppm Au,
and these are supported by the recurring presence of coarse visible gold.
Despite these promising readings, there is naturally a degree of bias due to
the regular visible gold occurences, and the Board wish to stress that these
results are not indicative of an in-situ resource within the creek itself.
Nonetheless, the collective results do conclude that gold is present in these
creeks and the sources could be present in the headwaters of these stream
drainages. The field team has started the field season focussed on the
Niobium-Tantalum (Nb-Ta) drainages of Oaky Creek and the Gold (Au) drainages
in the vicinity of Reedy Creek (see Figures Two and Three above).
REEDY CREEK AREA
Situated within the centre of the Project area (see Figure One above), the
drainages in the vicinity of Reedy Creek show the presence of gold only, with
no indication of Nb or Ta. During field work, it was discovered that one
stream within the area displayed signs of previous alluvial mining activity,
most likely to be from the 1870’s. Although the adjacent drainage channels
have yet to be fully worked through, the field team has already recorded the
presence of gold during the current exploration program (see Figure Two
above). In addition to this, the field team has also discovered coarse nuggety
gold on the flats adjacent to other drainage channels in this area, along with
visible gold discoveries in streams to the west. The overall picture for these
gold results indicates that they originate from a high hill located in the
centre of Reedy Creek (see Figure Two above). Further results from follow-up
work samples taken across the Reedy Creek streams are awaited. In addition,
numerous rock chips have been taken as a part of the first pass exploration
within the headwaters of some these gold bearing streams. Results from these
are due shortly.
NIOBIUM, TANTALUM AND REE (Neodymium)
The field team has also followed up the best stream drainage results from the
previous campaign that recorded Niobium, Tantalum and other potential
Rare-Earth Elements (REE) around the Oaky Creek area (see Figure One above).
Due to the presence of Nb and Ta, the team are now testing for all known 12
REE’s (not previously tested for). These latest results add to the existing
evidence, and continue to show a strong presence of Nb and Ta within the Oaky
Creek area. In addition, the team have also proved that the presence of
Neodymium (Nd) is spatially associated with Nb and Ta results across the
Project area (see Figure Three above). Neodymium of course has numerous
applications, and is used for strong magnets in electrical motors.
NEXT STEPS AND FURTHER RESULTS EXPECTED
As previously mentioned, the field team has taken numerous rock chips within
the Reedy Creek area (Gold) and from the headwaters of the Oaky Creek area
(Nb-Ta). These rock chips represent samples from outcrops seen on our first
pass through Reedy Creek and Oaky Creek, and results from these samples are
also expected.
Secondly, follow-up soil samples from the recently reported pXRF soil sampling
results last month have now been completed ready for initial pXRF analysis
during August.
The field team have now moved to the south from Reedy Creek into Gorge Creek
(see Figure One above). The Project area covers working cattle properties, and
as such a comprehensive work-around plan is in place. Given the progress to
date, the Board are confident the field team will return to the Reedy Creek
and Oaky Creek area before the field season finishes this summer to undertake
further rock chip and soil sampling and to delineate future drill targets.
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=53512163&newsitemid=20230807557961&lan=en-US&anchor=www.ecrminerals.com&index=4&md5=fb8f66b8e4f6f95ced781bbb1deba1ba)
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: Best results from pan concentrate sampling Au ppm, August 2023,
Lolworth Project). All results greater than 0.1 ppm tabulated. (VG = Visible
Gold Panned)
SampleID Easting Northing Au ppm VG Comments on VG
LWSS252 320264 7765878 7.24 No
LWSS253 324254 7767330 4.56 Yes 6 small specks
LWSS405 314446 7760822 9.44 No
LWSS418 320700 7757580 0.20 Yes 1 small speck
LWSS421 322901 7757868 0.70 Yes 1 small speck
LWSS423 324258 7762097 0.16 No
LWSS424 325846 7762480 3.71 Yes Coarse speck of gold
LWSS427 326210 7761584 0.24 Yes 1 small speck
LWSS431 325753 7764904 6.85 Yes 3 specks
LWSS432 325432 7764888 0.44 Yes 1 small speck
LWSS448 314768 7767960 2.78 No
LWSS451 315172 7766899 0.13 No
LWSS460 314210 7762374 0.14 No
LWSS467 315238 7756209 0.40 Yes 1 small speck
LWSS469 325966 7771175 8.35 Yes 2 small specks
LWSS470 327173 7770920 0.22 Yes 1 small speck
LWSS496 303849 7757871 9.61 Yes 2 x coarse gold specks
LWSS498 311283 7755758 1.85 Yes 1 speck
LWSS500 312950 7754815 3.12 Yes 2 specks
LWSS532 299200 7760198 2.38 Yes 1 speck
LWSS538 290076 7760827 0.81 Yes 1 speck
LWSS572 310177 7750287 0.33 No
LWSS585 310289 7750626 594.00 Yes 1 small 0.1 gram 'nugget'
LWSS586 311171 7751074 0.12 No
LWSS587 311452 7750782 11.65 No
LWSS589 309345 7755372 0.18 No
LWSS638 312768 7755219 1.41 Yes Duplicate sample
LWSS736 309500 7751531 0.18 No
LWSS738 308182 7751525 0.41 Yes 1 speck
LWSS753 309412 7750724 138.00 Yes 1 small coarse gold speck
LWSS755 310000 7751106 1.72 No
LWSS757 310470 7751305 0.20 No
LWSS759 310273 7750928 45.30 Yes
LWSS761 310292 7750584 0.70 No
LWSS765 310060 7751399 18.45 Yes 1 coarse speck
LWSS767 309485 7751015 5.13 No
LWSS774 310163 7750663 0.71 No
LWSS782 308962 7751475 19.75 Yes 2 small specks
LWSS790 309438 7750736 25.70 Yes 1 speck
LWSS794 309442 7750737 0.11 No
LWSS797 309467 7750599 0.23 No
TABLE TWO: Best results from pan concentrate sampling Nb-Ta ppm, August 2023,
Lolworth Project). All results greater than 100 ppm tabulated.
SampleID Easting Northing Nb Ta Comment
LWSS229 320908 7759186 450 217
LWSS230 321176 7759318 500 500
LWSS231 322179 7759546 500 500
LWSS247 313645 7756544 284 85.2
LWSS252 320264 7765878 150 31.3
LWSS253 324254 7767330 227 81
LWSS254 323713 7767213 237 59.8
LWSS255 324446 7769354 109 33.8
LWSS306 314035 7754119 118 15.95
LWSS365 320388 7756838 401 152
LWSS366 319160 7754718 500 281
LWSS367 319661 7753979 500 480
LWSS406 315528 7761520 102.5 28
LWSS407 315347 7760973 208 54.7
LWSS408 317210 7761344 215 48.5
LWSS409 317724 7760589 108.5 38.3
LWSS410 316537 7760130 229 43.1
LWSS411 317645 7759026 500 215
LWSS416 320737 7761711 500 149.5
LWSS418 320700 7757580 165.5 53.2
LWSS420 322665 7757702 132.5 51.2
LWSS421 322901 7757868 178 33.8
LWSS422 324174 7762491 102.5 16.85
LWSS423 324258 7762097 151.5 37.6
LWSS424 325846 7762480 134.5 31.3
LWSS425 325677 7762387 204 32.5
LWSS427 326210 7761584 159.5 27.7
LWSS429 322846 7765871 343 91.4
LWSS431 325753 7764904 500 296
LWSS432 325432 7764888 135 25.7
LWSS433 324133 7765013 327 66.7
LWSS434 323642 7764659 157.5 32.5
LWSS435 322377 7766754 500 372
LWSS436 320685 7765372 193 87.4
LWSS437 320214 7765523 221 48.6
LWSS438 319186 7765517 151.5 46
LWSS439 319176 7765952 184 60
LWSS440 319092 7764709 223 45.5
LWSS441 318768 7764506 332 74.6
LWSS451 315172 7766899 323 76
LWSS454 315035 7765742 201 32
LWSS455 314737 7765632 500 209
LWSS456 314555 7765137 141 35.8
LWSS459 313836 7762219 116.5 22.1
LWSS460 314210 7762374 231 42.6
LWSS461 315133 7762705 220 47.9
LWSS463 317464 7756322 242 62.1
LWSS464 316583 7755967 126 18.8
LWSS466 313851 7756198 500 237
LWSS467 315238 7756209 182 87.3
LWSS468 324533 7771145 245 32.3
LWSS469 325966 7771175 500 222
LWSS470 327173 7770920 300 102.5
LWSS471 308931 7766968 121 42.1
LWSS476 306440 7763751 266 52.8
LWSS477 308181 7763842 500 347
LWSS478 309081 7764005 267 56.4
LWSS479 309450 7763805 160.5 35.7
LWSS487 307080 7761843 170.5 29.4
LWSS488 307254 7761061 104 14.9
LWSS491 306083 7759588 129 17.35
LWSS492 305683 7760663 158 24.2
LWSS493 305974 7760896 160 22.1
LWSS494 304500 7758304 123 30.9
LWSS496 303849 7757871 212 66.4
LWSS497 311422 7756106 500 90.1
LWSS498 311283 7755758 169.5 34
LWSS499 313335 7755490 245 91
LWSS500 312950 7754815 338 80
LWSS501 313368 7754220 310 73.8
LWSS502 313769 7753467 113 28.4
LWSS531 298996 7760443 145.5 31.7
LWSS533 292681 7760640 114 29.5
LWSS536 291075 7759472 132.5 46.9
LWSS581 319064 7753571 500 383
LWSS582 319371 7753069 500 338
LWSS589 309345 7755372 176.5 37
LWSS590 308073 7755282 500 500
LWSS591 309377 7756779 500 246
LWSS592 306808 7756949 500 470
LWSS593 307441 7757969 112 43.3
LWSS595 320887 7754478 217 57.9
LWSS635 312320 7755191 251 76.5 Duplicate sample
LWSS638 312768 7755219 500 245 Duplicate sample
LWSS640 314020 7756152 277 89.1 Duplicate sample
LWSS641 313995 7756316 180.5 47.7
LWSS642 313980 7756481 500 227
LWSS643 313639 7756592 134.5 37.9
LWSS644 314409 7756710 500 500
LWSS645 315200 7757744 253 64.1
LWSS646 314908 7757858 362 112
LWSS647 312621 7758803 217 49.8
LWSS649 312949 7759462 173.5 45.9
LWSS697 312984 7755449 339 84.3
LWSS698 313421 7755433 262 100.5
LWSS699 313957 7754899 125 20.5
LWSS700 313277 7754334 373 157
LWSS701 313870 7754078 257 42.1
LWSS730 313311 7754208 223 45.8
LWSS739 314037 7756997 296 94
LWSS740 313948 7757123 500 338
LWSS741 313857 7757165 500 298
LWSS742 313529 7756546 500 403
LWSS743 313453 7756634 500 305
LWSS744 313443 7756749 500 189.5
LWSS745 313906 7756226 500 327
LWSS747 314005 7756317 500 290
LWSS748 314052 7754098 186.5 34.9
LWSS749 313714 7754130 168 23.6
TABLE THREE: Best results from pan concentrate sampling Nd (Neodymium) ppm,
August 2023, Lolworth Project). All results greater than 500 ppm tabulated.
SampleID Easting Northing Nd Comment
LWSS231 322179 7759546 934
LWSS365 320388 7756838 567
LWSS366 319160 7754718 1000
LWSS410 316537 7760130 709
LWSS411 317645 7759026 1000
LWSS431 325753 7764904 1000
LWSS433 324133 7765013 1000
LWSS435 322377 7766754 1000
LWSS437 320214 7765523 536
LWSS438 319186 7765517 578
LWSS439 319176 7765952 619
LWSS441 318768 7764506 773
LWSS451 315172 7766899 1000
LWSS453 315301 7766183 507
LWSS454 315035 7765742 583
LWSS455 314737 7765632 970
LWSS461 315133 7762705 754
LWSS463 317464 7756322 1000
LWSS466 313851 7756198 765
LWSS469 325966 7771175 1000
LWSS470 327173 7770920 541
LWSS471 308931 7766968 1000
LWSS476 306440 7763751 902
LWSS477 308181 7763842 1000
LWSS478 309081 7764005 1000
LWSS479 309450 7763805 626
LWSS487 307080 7761843 595
LWSS491 306083 7759588 558
LWSS492 305683 7760663 830
LWSS493 305974 7760896 660
LWSS499 313335 7755490 791
LWSS500 312950 7754815 1000
LWSS501 313368 7754220 1000
LWSS533 292681 7760640 1000
LWSS590 308073 7755282 1000
LWSS592 306808 7756949 1000
LWSS635 312320 7755191 804 Duplicate sample
LWSS638 312768 7755219 1000 Duplicate sample
LWSS649 312949 7759462 726
LWSS697 312984 7755449 1000
LWSS698 313421 7755433 696
LWSS700 313277 7754334 638
LWSS730 313311 7754208 789
LWSS738 308182 7751525 756
LWSS745 313906 7756226 502
LWSS747 314005 7756317 934
LWSS749 313714 7754130 557
LWSS763 310342 7750675 1000
LWSS764 310354 7750644 682
LWSS782 308962 7751475 770
LWSS790 309438 7750736 577
LWSS794 309442 7750737 904
LWSS796 309492 7750610 564
LWSS805 309428 7750698 655
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