REG - ECR Minerals PLC - Preliminary findings from Creswick drilling

ECR MineralsAnnouncement

05/02/2024 10:00

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RNS Number : 0330C  ECR Minerals PLC  05 February 2024

ECR MINERALS plc

("ECR Minerals", "ECR" or the "Company")

Preliminary findings from Creswick drilling

ECR Minerals plc (LON: ECR), the exploration and development company focused
on gold in Australia, is pleased to provide the following preliminary update
of its drilling programme at the Davey Road site in its Creswick tenement.
Drilling was undertaken in December 2023.

HIGHLIGHTS

●     Seven successful holes were drilled and there is extensive
evidence of anomalous gold with the best result being 23.39 g/t Au over 1
metre.

●     The best sample still has 4.7 g/t Au in the tailings of the
initial results which is typical of coarse gold that ECR expects in this
location.

●     Around 30 additional bulk samples from the 20-30kg 'leftovers'
from the preliminary drilling results have been concentrated in a dry blower.
Panning of this material has consistently shown visible gold and these samples
are being sent for laboratory testing.

●     Variation in the preliminary results indicates a likely dipping
vein (i.e. the gold mineralisation is not in a vertical structure) but the
further analysis being undertaken is expected to assist with the geological
interpretation.

The full results of this bulk sample testing are expected to be completed
shortly.

Alongside this, the second phase of the Company's drilling programme in
Creswick (at Kuboid Hill) is ongoing and further announcements will be made in
due course.

Details of current drilling and significant intercepts > 0.5g/t

 Hole ID   Total depth (metres)  Significant intercepts                                              Visible gold in bulk samples between interval (metres)

                                                                                                     (awaiting assay results)
 CDYRC001  66                    1m @ 2.53 g/t Au from 6m                                            0-1

                                 1m @ 2.42 g/t Au from 37m                                           5-7

                                 1m @ 0.79 g/t Au from 38m                                           30-31

                                 1m @ 0.53 g/t Au from 29m                                           36-39

                                 1m @ 0.50 g/t Au from 30m
 CDYRC002  84                    No significant intercepts to date but pending bulk sample analysis
 CDYRC003  84                    No significant intercepts to date but pending bulk sample analysis
 CDYRC004  84                    No significant intercepts to date but pending bulk sample analysis  54-56
 CDYRC005  54                    1m @ 23.39 g/t Au from 14m                                          13-16

                                 1m @ 1.01 g/t Au from 15m
 CDYRC006  84                    No significant intercepts to date but pending bulk sample analysis
 CDYRC007  66                    No significant intercepts to date but pending bulk sample analysis  12-13

 

Mike Whitlow Chief Operating Officer said: "This is an encouraging start to
our examination of Davey Road.  Based on ECR's work historically in this
region, our expectation was that any gold would be both course and confined
within narrow veins.  These preliminary results support this assumption and
consequently analysis of the bulk samples is a necessary step before we have a
full picture of the geology.  There is plenty so far to be pleased with but
these results are indicative only and we look forward to gaining a better
understanding of the location once full testing is complete."

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

 Nick Tulloch, Managing Director

 Andrew Scott, Director

 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=51817334&newsitemid=20180605005810&lan=en-US&anchor=www.ecrminerals.com&index=1&md5=820ad49dc1fc2c84a0538453c017bc1b)

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 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 eight active exploration tenements and two in application
(Ballarat and Tambo).

 

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 Lolworth Range, Queensland, Australia. The
Company has also submitted a license application at Kondaparinga which is
approximately 120km(2) in area and located within the Hodgkinson Gold
Province, 80km NW of Mareeba, North Queensland.

 

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.

 

 

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