REG-ECR Minerals plc Two Mineralisation Corridors Identified from HR3 hole BH3DD032 at Bailieston, Victoria
09/08/2022 07:15
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Two Mineralisation Corridors Identified from HR3 hole BH3DD032 at Bailieston,
Victoria
ECR MINERALS plc
(“ECR Minerals”, “ECR” or the “Company”)
Two Mineralisation Corridors Identified from HR3 hole BH3DD032 at Bailieston,
Victoria
ECR Minerals plc (LON: ECR), the exploration and development company focused
on gold in Australia, is pleased to announce updated gold results from drill
hole BH3DD032 at the HR3 prospect at Bailieston. These results link to
previous results from the HR3 drilling programme (see announcements from 8
June 2022 here
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.londonstockexchange.com%2Fnews-article%2FECR%2Fmultiple-high-grade-gold-intercepts-from-hole-bh3dd034-at-hr3-bailieston-victoria%2F15485246&esheet=52805653&newsitemid=20220808005719&lan=en-US&anchor=here&index=1&md5=b41821d95bb35f94d536c6c68663c8da)
and 11 July here
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.londonstockexchange.com%2Fnews-article%2FECR%2Fdrill-results-from-bh3dd035-show-signs-of-grade-continuity-at-bailieston-victoria%2F15534166&esheet=52805653&newsitemid=20220808005719&lan=en-US&anchor=here&index=2&md5=47b17d82a03391416a87efdd7ee6d0e1)
) and which now reveal two potential mineralised corridors within the Maori
Anticline.
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 by ECR’s Australian wholly owned subsidiary
Mercator Gold Australia Pty Ltd (“MGA”).
ECR CEO Andrew Haythorpe commented: “I am delighted to report to you the
latest assay results from HR3. Despite the well documented delays in receiving
these assays, and with results from a further seven drill holes still to come,
I believe that Technical Director Adam Jones and his team are doing an
outstanding job in uncovering an asset of increasing significance for ECR. The
grades at hole BH3DD032 demonstrate potential cross-asset consistency,
building on the previously reported grade continuity from holes BH3DD035,
BH3DD012, BH3DD019 and BH3DD034, and establishing what we believe are two
mineralised corridors within the Maori Anticline.”
“This is an exciting development for ECR. I look forward to reporting the
results from the seven drill holes still to come, and on the upcoming Blue
Moon drilling campaign.”
ECR Chairman David Tang added: “I commend this excellent work by Adam Jones
and the team and reiterate my previous comments that myself, Andrew and the
board are eager to see the true scale of the Bailieston asset.”
HIGHLIGHTS
* Best results in BH3DD032 are 0.2m @ 4.81 g/t Au and 0.4m @ 6.11 g/t Au
beginning from 154.1m downhole.
* The results link to previously drilled holes revealing two potential
mineralised corridors within the Maori Anticline (see announcements from 8
June 2022
here
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.londonstockexchange.com%2Fnews-article%2FECR%2Fmultiple-high-grade-gold-intercepts-from-hole-bh3dd034-at-hr3-bailieston-victoria%2F15485246&esheet=52805653&newsitemid=20220808005719&lan=en-US&anchor=here&index=3&md5=d8ad8b52d6e53b3f9fa3eb96ef9f95ce)
and 11 July
here
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.londonstockexchange.com%2Fnews-article%2FECR%2Fdrill-results-from-bh3dd035-show-signs-of-grade-continuity-at-bailieston-victoria%2F15534166&esheet=52805653&newsitemid=20220808005719&lan=en-US&anchor=here&index=4&md5=d14cb15484cb00ffa64bdec0647e1da5)
).
A generalised section of BH3DD032 referencing the following paragraphs can be
found at the link below;
Fig 1:
https://www.ecrminerals.com/images/2022/fig1_BH3DD032_Section_220808.png
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.ecrminerals.com%2Fimages%2F2022%2Ffig1_BH3DD032_Section_220808.png&esheet=52805653&newsitemid=20220808005719&lan=en-US&anchor=https%3A%2F%2Fwww.ecrminerals.com%2Fimages%2F2022%2Ffig1_BH3DD032_Section_220808.png&index=5&md5=6d5f28cd94ad199db505934ac76686e9)
BH3DD032
BH3DD032 was drilled at depth and on section underneath holes BH3DD019,
BH3DD034, BH3DD035 and BH3DD033. The aim of drilling BH3DD032 was to test the
continuity of mineralised structures identified in BH3DD019. This structure
was drilled through at 118m with an anomalous result of 0.2m @ 0.59 g/t Au.
Drilling continued to pass through the central core of the Maori Anticline at
around 145m in depth. A narrow quartz-sulphide fault with associated tension
veining at 154.1m downhole produced the best results with 0.2m @ 4.81 g/t Au
from 154.1m and 0.4m @ 6.11 g/t Au from 154.3m. Fault movement indicators show
a south plunging system, as predicted from earlier drilling. BH3DD032 also
passed through a perpendicular vein system at 249.7m grading 0.4m @ 2.4 g/t Au
from 249.7m and 0.9m @ 0.72 g/t Au from 250.1m and 0.2m @ 3.06 gt Au from
256.8m. Drilling ended at a depth of 260.6m.
TWO MINERALISED CORRIDORS
Plotting the location of gold intercepts from BH3DD032 and other adjacent
drill holes in section view reveal the likelihood of two main corridors of
mineralisation (see fig 1 above). Mineralisation is located respectively on
each side of the Maori Anticline where anastomosing narrow gold and antimony
(stibnite) veins propagate. The system is open at depth and along strike to
the north.
Table 1. Summary of drill intercepts containing reportable levels of gold
greater than 0.1 g/t Au for BH3DD032 (highlights in bold).
BH3DD032
From To Grade (g/t Au) Interval (m)
7 8 0.33 1
8 9 1.68 1
9 10 1.44 1
11 12 0.72 1
13 14 0.58 1
18 19 0.14 1
19 20 0.17 1
37.3 37.7 1.54 0.4
37.7 38 0.15 0.3
41 42 0.32 1
42 43 0.31 1
43 44 0.38 1
47 48 0.96 1
48 49 1.29 1
49 50 0.26 1
50 51 1.04 1
51 52 0.67 1
52 53 0.57 1
53 54 0.20 1
54 55 0.14 1
55 56 0.13 1
57 58 0.16 1
58 59.5 0.88 1.5
59.5 60.2 2.63 0.7
60.2 61 0.37 0.8
61 62 0.21 1
62 63 0.21 1
63 64 0.24 1
69 70 0.37 1
70 71 0.31 1
74.5 75 0.21 0.5
82.7 82.9 0.29 0.2
85.2 85.4 0.51 0.2
95 95.3 0.22 0.3
107.1 107.3 0.13 0.2
107.7 107.9 0.34 0.2
117.3 118 0.13 0.7
118 118.2 0.59 0.2
137.1 137.3 0.30 0.2
138.8 139 0.33 0.2
145.3 145.6 0.10 0.3
154.1 154.3 4.81 0.2
154.3 154.7 6.11 0.4
154.7 155.5 0.12 0.8
174.9 175.1 0.13 0.2
181 181.7 0.16 0.7
181.7 181.9 1.29 0.2
210 210.8 0.13 0.8
210.8 211.55 0.79 0.75
211.55 212.4 0.83 0.85
212.4 213.2 1.55 0.8
213.2 213.4 0.49 0.2
213.4 213.95 0.72 0.55
213.95 215 0.23 1.05
215 215.75 0.22 0.75
215.75 216.7 0.26 0.95
216.7 216.9 0.13 0.2
216.9 217.1 0.23 0.2
217.1 217.2 0.19 0.1
245.4 245.6 0.29 0.2
245.6 246.1 0.13 0.5
246.1 246.3 0.84 0.2
246.3 247 0.14 0.7
247 247.5 0.33 0.5
247.5 248 0.48 0.5
248 248.4 0.37 0.4
248.4 249 0.53 0.6
249 249.7 0.17 0.7
249.7 250.1 2.40 0.4
250.1 251 0.72 0.9
251 252 0.49 1
252 252.8 0.28 0.8
252.8 253 0.49 0.2
253 253.6 0.33 0.6
253.6 254.3 0.30 0.7
254.3 254.5 0.47 0.2
256.4 256.6 0.25 0.2
256.6 256.8 0.16 0.2
256.8 257 3.06 0.2
NEXT STEPS
The Company is awaiting the results from another 7 drill holes within the HR3
Goldfield. Three of these holes were drilled 200m along strike to the south of
hole BH3DD032.
Drilling is also planned to commence at the Blue Moon prospect next month
(September 2022). Initially drilled in 2019 (see announcement dated 14 March
2019 here
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fpolaris.brighterir.com%2Fpublic%2Fecr_minerals_plc%2Fnews%2Frns%2Fstory%2Fwk5q62w&esheet=52805653&newsitemid=20220808005719&lan=en-US&anchor=here&index=6&md5=72227111ef072619059ffa6a6555d8e8)
and announcement dated 1 May 2019 here
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fpolaris.brighterir.com%2Fpublic%2Fecr_minerals_plc%2Fnews%2Frns%2Fstory%2Fxl5km9w&esheet=52805653&newsitemid=20220808005719&lan=en-US&anchor=here&index=7&md5=d36dfe4bd294ea009c367aa9418957b1)
), Blue Moon is located approximately 10km to the south of HR3 and is hosted
within a large sandstone body. The Directors consider Blue Moon to be highly
prospective due to its width and initial indications of more consistent
grades.
In regard to Creswick, groundwork is currently underway, with soil and rock
chip sampling in progress along strike and parallel to the 2021 drilling
sites.
Work is also planned to commence in September 2022 at ECR’s Lolworth
tenements in North Queensland. Initial reconnaissance work is intended to
confirm historic visible gold sampling with additional follow up sampling
towards the creek headwaters to locate the source of any gold anomalies.
The Company will keep shareholders updated on the progress of the planned
work.
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.
MARKET ABUSE REGULATIONS (EU) No. 596/2014
The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 (MAR). Upon the publication of this announcement via
Regulatory Information Service (RIS), this inside information is now
considered to be in the public domain.
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=52805653&newsitemid=20220808005719&lan=en-US&anchor=www.ecrminerals.com&index=8&md5=8e83cdb5bb2fd1d6e993ebc5db3e11d8)
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
BlytheRay Tel: +44 (0) 207 138 3204
Public Relations
Tim Blythe
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 licence applications outstanding including two
licence applications lodged in eastern Victoria. (Tambo gold project). MGA is
currently drilling at both the Bailieston (EL5433) and Creswick (EL6148)
projects and has an experienced exploration team with significant local
knowledge in the Victoria Goldfields and wider region.
https://mercatorgold.com.au/
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fmercatorgold.com.au%2F&esheet=52805653&newsitemid=20220808005719&lan=en-US&anchor=https%3A%2F%2Fmercatorgold.com.au%2F&index=9&md5=39a990188c6d9e4e43c242cf46d07c86)
ECR also owns 100% of an Australian subsidiary LUX Exploration Pty Ltd
(“LUX”) which has three licence applications covering 900 km2 covering a
relatively unexplored area in Queensland, Australia.
https://luxexploration.com/
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fluxexploration.com%2F&esheet=52805653&newsitemid=20220808005719&lan=en-US&anchor=https%3A%2F%2Fluxexploration.com%2F&index=10&md5=10be5577e8c7f08b3a917eb1768b9152)
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.
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