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Company ECR Minerals PLC
TIDM ECR
Headline Progress Update - Creswick Gold Project Australia
Released 10:33 27-Aug-2019
Number 0827005382

Progress Update - Creswick Gold Project Australia

LONDON--(BUSINESS WIRE)--

 

ECR MINERALS plc

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

Progress Update - Creswick Gold Project Australia

ECR Minerals plc (LON:ECR), the precious metals exploration and development company, is pleased to announce a progress update from the testing of reverse circulation (?RC?) drilling sample bags taken from the Creswick gold project (the ?Project?) in Victoria, Australia.

As announced on 11 June 2019 and 8 May 2019 ECR are conducting whole of bag testing in order to increase the sample size to gain more representative results than from the original 2 kg assays.

Images of recovered gold referenced in this announcement may be viewed through the following link:

https://www.ecrminerals.com/images/2019/08/22/gec_au_photos.jpg

Craig Brown, Chief Executive Officer commented: ?I am pleased to update shareholders with our progress in respect of the Creswick gold project.

Establishing the testing process was technically complex and, with the extremely poor winter weather in Victoria, took us longer than anticipated.

The good news is we are up and running with an established process and test results starting to flow into the company. It is positive to see results so far that overall demonstrate increased gold in the samples. These are the early results however and a significant amount of further information is required before conclusions can be drawn.

The results so far have demonstrated significant variability from the original assays, demonstrating that the small sample size can overstate and understate results. Notably the original 44.63 g/t assay from the 2 kg sample from CSR006 (15-16 m) is increased to 63.03 g/t.

Of particular importance is that we use the data gathered from our work generally, and the test results themselves, to understand the geological structures involved and the distribution of gold mineralisation.

In this regard I would like to welcome Dr Simon Dominy FGS(CGeol) FAusIMM(CPGeo) as a consultant to the Company. Simon has extensive relevant experience evaluating high-nugget effect gold deposits and will help assess our results and guide our future work programmes.

With our testing system now established and running further announcements are expected in the near future.?

HIGHLIGHTS:

Update on Bag Testing and Gold Recovery

Appointment of Dr Simon Dominy

HoleID

From
(m)

To
(m)

Interval (m)

Original 2 kg assay (g/t)

Full-bag test (g/t)

CSR006

13

14

1

x

X

CSR006

14

15

1

0.12

0.11

CSR006

15

16

1

44.63

63.03

CSR006

16

17

1

0.11

0.17

CSR006

17

18

1

0.15

0.18

CSR006

18

19

1

0.06

0.30

CSR006

20

21

1

x

0.12

CSR006

21

22

1

x

0.01

CSR006

22

23

1

0.39

1.38

CSR006

23

24

1

x

0.00

CSR010

85

86

1

0.27

1.32

CSR012

49

50

1

x

0.01

CSR012

50

51

1

x

0.01

CSR012

51

52

1

x

0.00

CSR012

52

53

1

2.49

2.28

CSR012

53

54

1

0.28

0.24

CSR012

54

55

1

x

0.03

Table 1. Full-bag test results and comparison to the original 2 kg Leachwell assays (x = below detection).

COMPETENT PERSON STATEMENT

The information in this announcement that relates to Exploration Results is based on information compiled by Dr Rodney Boucher of Linex Pty Ltd. Linex Pty Ltd provides geological services to Mercator Gold Australia Pty Ltd, including the services of Dr Boucher, who has a PhD in geology, is a Member and RPGeo of the Australian Institute of Geoscientists and is a Member of the Australasian Institute of Mining and Metallurgy. Dr Boucher has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ?Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves?. Dr Boucher consents to the inclusion in the announcement of the material based on his information in the form and context in which it appears.

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

Craig Brown, Director & CEO

Email:

info@ecrminerals.com

Website: www.ecrminerals.com

 

WH Ireland Ltd

Tel: +44 (0)161 832 2174

Nominated Adviser

Katy Mitchell/James Sinclair-Ford

 

SI Capital Ltd

 

Tel: +44 (0)1483 413500

 

Broker

 

 

 

Nick Emerson

 

 

 

 

 

 

ABOUT ECR MINERALS PLC

ECR is a mineral exploration and development company. ECR?s wholly owned Australian subsidiary Mercator Gold Australia Pty Limited has 100% ownership of the Avoca, Bailieston, Creswick, Moormbool and Timor gold exploration licences in central Victoria, Australia and the Windidda Gold Project in the Yilgarn Region, Western Australia.

ECR has earned a 25% interest in the Danglay epithermal gold project, an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines. An NI43-101 technical report was completed in respect of the Danglay project in December 2015 and is available for download from ECR?s website.

ECR?s wholly owned Argentine subsidiary Ochre Mining has 100% ownership of the SLM gold project in La Rioja, Argentina. Exploration at SLM has focused on identifying small tonnage mesothermal gold deposits which may be suitable for relatively near-term production.

ECR Minerals plc

Source: ECR Minerals plc


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