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ECR Minerals plc UK Regulatory Announcement: Initial drilling Results from Cherry Tree, Bailieston Gold Project, Victoria, Australia

LONDON–(BUSINESS WIRE)– 

10 August 2021

ECR MINERALS plc

(“ECR Minerals”, “ECR” or the “Company”)

Initial Results from the First Ever Drilling Campaign at Cherry Tree (HR4) Identify Anticlinal Hinge Anomaly

ECR Minerals plc (LON: ECR), the gold exploration and development company focussed on gold exploration in Australia, is pleased to announce initial results from its first drilling campaign at Cherry Tree (“Historic reserve number 4”, “HR4”, “Cherry Tree”) at the Bailieston Project in central Victoria, Australia.

ECR Minerals plc has 100% ownership of Bailieston Project which is operated under its Australian owned subsidiary Mercator Gold Australia Pty Ltd (“MGA”).

Craig Brown, Chief Executive Officer of ECR Minerals plc, commented:

“Following the purchase of our second drilling rig, ECR’s strong funding position and growing local infrastructure ensures the Company can continue to maintain a series of aggressive drilling campaigns across the Victoria Goldfields. We have also made a small bit of history; ECR’s Australian subsidiary MGA completed the first ever diamond drillhole at Cherry Tree (HR4) and I am delighted to report a highly significant early result there from hole BCTDD003, both in terms of the geological setting and the gold mineralisation identified.”

“As the data continues to arrive, our senior geologists are working hard to ascertain structural geological interpretations. It is widely accepted that culminations in folded strata cut by shears and faults are favoured locations for deposition of fold-hinged gold deposits, and with the cross-striking faults at this anticline filled with quartz-gold-bearing fluids in Holes BCTDD001, BCTDD002 and BCTDD003, there is encouraging early evidence. We are keen to see what the next raft of data will reveal so we can determine our next exploration steps.”

HIGHLIGHTS:

  • Hole BCTDD001, the first ever diamond drilling work undertaken at HR4 has delineated an anticlinal hinge striking through the centre of the goldfield.
  • Holes BCTDD002 and BCTDD003 were drilled to define cross striking faults. Drilling continues using orientated diamond drill-core for structural geological interpretation
  • Hole BCTDD003 shows broad zones of low-grade gold mineralisation, often associated with anomalously high Arsenic (pXRF readings). The best intercept includes 0.5m @ 11.02 g/t Au from 98.85m depth.

PROGRESS AT CHERRY TREE

Hole BCTDD001, the first ever diamond drillhole completed at HR4 has delineated an anticlinal hinge striking through the centre of the goldfield. This anticline forms the geological backbone of mineralisation at Cherry Tree where cross-striking faults to this anticline have filled with quartz-gold-bearing fluids. Holes BCTDD002 and BCTDD003 were drilled to define such cross striking faults.

MGA continues to drill orientated diamond core to gain structural geological information, and recently drilled holes BCTDD004 and BCTDD005 were designed to test the interpreted position of multiple cross-striking faults. Geological logging of BCTDD004 and BCTDD005 is currently in progress.

Hole BCTDD003 shows broad zones of low-grade mineralisation, often associated with high Arsenic (pXRF readings). The best intercept includes 0.5m @ 11.02 g/t Au from 98.85m depth.

DETAILS OF ALL INTERCEPTS CONTAINING REPORTABLE LEVELS OF GOLD GREATER THAN 0.1 G/T – HOLES BCTDD001-003

BCTDD001

 

 

 

 

 

 

 

 

From

(m)

To

(m)

Grade Au g/t

Interval

(m)

 

 

 

BCTDD001

 

 

 

 

No significant intercepts 0.1 g/t Au

 

 

 

 

 

 

 

 

Results greater than 0.1 g/t Au

 

 

 

 

From

(m)

To

(m)

Grade Au g/t

Interval

(m)

 

 

 

BCTDD002

65.6

66.1

1.08

0.5

Associated with high Arsenic pXRF

BCTDD002

87

88

1.14

1

Associated with high Arsenic pXRF

 

 

 

 

 

 

 

 

BCTDD002

 

 

 

 

 

 

 

Other broad mineralised zones results noted

 

 

 

 

From

(m)

To

(m)

Grade Au g/t

Interval

(m)

 

 

 

BCTDD002

68.3

69.3

0.11

1

Broad LG zone associated with

BCTDD002

69.3

70.3

0.22

1

higher arsenic. 4m @ 0.19 g/t Au

BCTDD002

70.3

71.3

0.2

1

 

 

 

BCTDD002

71.3

72.3

0.24

1

 

 

 

 

 

 

 

 

 

 

 

BCTDD003

 

 

 

 

 

 

 

Results greater than 0.1 g/t Au

 

 

 

 

From

(m)

To

(m)

Grade Au g/t

Interval

(m)

 

 

 

BCTDD003

74.9

75.5

1.11

0.6

0.6m @ 1.11 g/t Au

 

BCTDD003

79.7

80

1.01

0.3

0.3m @ 1.01 g/t Au

 

BCTDD003

98.85

99.35

11.02

0.5

0.5m @ 11.02 g/t Au

 

REVIEW OF ANNOUNCEMENT BY QUALIFIED PERSON

This announcement has been reviewed by Adam Jones, a director of 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.

OR FURTHER INFORMATION, PLEASE CONTACT:

ECR Minerals plc

 

Tel: +44 (0)20 7929 1010

 

David Tang, Non-Executive Chairman

 

 

 

Craig Brown, Director & CEO

 

 

 

Email:

[email protected]

 

 

 

Website: www.ecrminerals.com

 

 

 

 

 

 

 

WH Ireland Ltd

 

Tel: +44 (0)161 832 2174

 

Nominated Adviser

 

 

 

 

 

 

 

SI Capital Ltd

 

Tel: +44 (0)1483 413500

 

Broker

 

 

 

Nick Emerson

 

Novum Securities Limited

Broker

Jon Belliss

 

Tel: +44 (0)20 7399 9425

 

Brand Communications

Public Relations Tel: +44 (0) 7976 431608

Alan Green

NOTES AND FULL INTERCEPT SUMMARY

BCTDD001

 

 

 

 

 

 

 

From

(m)

To

(m)

Grade Au g/t

Interval

(m)

 

 

BCTDD001

 

 

 

 

No significant intercepts 0.1 g/t Au

 

 

 

 

 

 

 

Results greater than 0.1 g/t Au

 

 

 

From

(m)

To

(m)

Grade Au g/t

Interval

(m)

 

 

BCTDD002

65.6

66.1

1.08

0.5

Associated with high Arsenic pXRF

BCTDD002

87

88

1.14

1

Associated with high Arsenic pXRF

 

 

 

 

 

 

 

BCTDD002

 

 

 

 

 

 

Other broad mineralised zones results noted

 

 

 

From

(m)

To

(m)

Grade Au g/t

Interval

(m)

 

 

BCTDD002

68.3

69.3

0.11

1

Broad LG zone associated with

BCTDD002

69.3

70.3

0.22

1

higher arsenic. 4m @ 0.19 g/t Au

BCTDD002

70.3

71.3

0.2

1

 

 

BCTDD002

71.3

72.3

0.24

1

 

 

 

 

 

 

 

 

 

BCTDD003

 

 

 

 

 

 

Results greater than 0.1 g/t Au

 

 

 

From

(m)

To

(m)

Grade Au g/t

Interval

(m)

 

 

BCTDD003

74.9

75.5

1.11

0.6

0.6m @ 1.11 g/t Au

BCTDD003

79.7

80

1.01

0.3

0.3m @ 1.01 g/t Au

BCTDD003

98.85

99.35

11.02

0.5

0.5m @ 11.02 g/t Au

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other broad mineralised zones results noted

 

 

 

From

(m)

To

(m)

Grade Au g/t

Interval

(m)

 

 

BCTDD003

28

29

0.24

1

1.3m @ 0.24 g/t Au

BCTDD003

29

29.3

0.23

0.3

 

 

BCTDD003

31

32

0.22

1

LG zone 20.3m @ 0.35 g/t

BCTDD003

32

32.7

0.23

0.7

 

 

BCTDD003

32.7

33.2

0.9

0.5

 

 

BCTDD003

33.2

34.2

0.94

1

 

 

BCTDD003

34.2

35.1

0.16

0.9

 

 

BCTDD003

35.1

36.1

0.1

1

 

 

BCTDD003

36.1

36.5

0.48

0.4

 

 

BCTDD003

36.5

37.5

0.53

1

 

 

BCTDD003

37.5

38.5

0.34

1

 

 

BCTDD003

38.5

39

0.36

0.5

 

 

BCTDD003

39

40

0.6

1

 

 

BCTDD003

40

41

0.55

1

 

 

BCTDD003

41

42

1.13

1

 

 

BCTDD003

42

42.5

0.17

0.5

 

 

BCTDD003

42.5

43.5

0.14

1

 

 

BCTDD003

43.6

44.5

0.13

0.9

 

 

BCTDD003

44.5

45.1

0.29

0.6

 

 

BCTDD003

45.1

46.1

0.11

1

 

 

BCTDD003

46.1

47.1

0.21

1

 

 

BCTDD003

47.1

48.1

0.14

1

 

 

BCTDD003

48.1

49.1

0.16

1

 

 

BCTDD003

49.1

50.1

0.21

1

 

 

BCTDD003

50.1

51.4

0.11

1.3

 

 

BCTDD003

54.1

55.1

0.37

1

LG zone 17m @ 0.21 g/t Au

BCTDD003

55.1

56.1

0.23

1

 

 

BCTDD003

56.1

57.1

0.1

1

 

 

BCTDD003

57.1

58.1

0.1

1

 

 

BCTDD003

58.6

59.6

0.28

1

 

 

BCTDD003

59.6

59.9

0.48

0.3

 

 

BCTDD003

59.9

60.4

0.5

0.5

 

 

BCTDD003

60.4

60.9

0.16

0.5

 

 

BCTDD003

60.9

61.4

0.41

0.5

 

 

BCTDD003

61.4

62

0.74

0.6

 

 

BCTDD003

62

62.5

0.14

0.5

 

 

BCTDD003

62.5

63.2

0.33

0.7

 

 

BCTDD003

63.2

63.8

0.15

0.6

 

 

BCTDD003

63.8

64.5

0.13

0.7

 

 

BCTDD003

64.5

65.3

0.1

0.8

 

 

BCTDD003

65.3

66.1

0.12

0.8

 

 

BCTDD003

66.1

66.7

0.13

0.6

 

 

BCTDD003

66.7

67.4

0.13

0.7

 

 

BCTDD003

67.4

68.4

0.15

1

 

 

BCTDD003

68.4

69

0.16

0.6

 

 

BCTDD003

69

70

0.1

1

 

 

BCTDD003

70

70.6

0.11

0.6

 

 

BCTDD003

70.6

71.6

0.15

1

 

 

BCTDD003

89.6

89.8

0.82

0.2

11m @ 1.14 g/t Au

BCTDD003

89.8

90.05

1.4

0.25

(incl 0.5m @ 11.02 g/t Au from 98.85m)

BCTDD003

90.05

90.9

0.54

0.85

 

 

BCTDD003

90.9

91.9

0.31

1

 

 

BCTDD003

91.9

92.4

1.17

0.5

 

 

BCTDD003

92.4

93.4

0.1

1

 

 

BCTDD003

93.4

94.4

0.1

1

 

 

BCTDD003

94.4

94.9

1.65

0.5

 

 

BCTDD003

94.9

95.4

0.48

0.5

 

 

BCTDD003

95.4

96.4

0.34

1

 

 

BCTDD003

96.4

96.9

0.26

0.5

 

 

BCTDD003

96.9

97.8

0.15

0.9

 

 

BCTDD003

97.8

98.4

0.1

0.6

 

 

BCTDD003

98.4

98.85

0.12

0.45

 

 

BCTDD003

98.85

99.35

11.02

0.5

 

 

BCTDD003

99.35

100

0.27

0.65

 

 

BCTDD003

100

100.6

0.15

0.6

 

 

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 and Creswick projects and has an experienced exploration team with significant local knowledge in the Victoria Goldfields and wider region.

https://mercatorgold.com.au/

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/

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 has earned a 25% 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.

Contacts

ECR Minerals plc

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