12:25 Fri 28 Sep 2018
Sampling Programme Results Bailieston Gold Project Australia
--(BUSINESS WIRE)--
(“ECR Minerals”, “ECR” or the “Company”)
SAMPLING PROGRAMME RESULTS - BAILIESTON GOLD PROJECT
(LON:ECR) the precious metals exploration and
development company is pleased to announce the assay results of the
first batch of rock chip sampling undertaken at the Company’s HR3
project at Bailieston (the “Project”) in .
Further information in respect of this sampling programme was provided
in the Company’s announcement, further details of
which can be found in the following link:
https://polaris.brighterir.com/public/ecr_minerals/news/rns/story/xlm86pr
Highlights:
“, Chief Executive Officer of , commented:
Whilst still early stage, the results complement the positive
exploration progress at Blue Moon and the recognition of the potentially
large gold system at Creswick announced 25/09/2018. Overall we are
building a suite of mineralised targets in our projects and
this is strongly supporting the conviction of the Company’s technical
team as to the potential of the area covered by the Company’s licence
tenements. Although at this stage there can be no guarantee that the
gold is economically extractable.
Further announcements are anticipated in the near term in respect of
the balancing Bailieston sampling programme and across the interests.”
Further information in respect of the Project Area and Historical Sampling
The Bailieston project area contains multiple reefs, including the
Bryon, Scoulars and Maori Reefs that were drilled by the Company in 2017
(results provided in an announcement on ). These three
reefs and adjacent reefs were sampled. From historic reporting and the
Company mapping, these reefs are fault-hosted. Where observed, faults
are up to 70 cm wide and contain quartz veins to 15 cm parallel to the
faults and stockwork quartz within the fault zone and in the hanging
wall and footwall sandstones and shales adjacent to the faults. However,
due to the varying quality of the exposure in the open workings, it is
not always possible to ascertain if the sampled material is from within
the fault or in the hanging wall or footwall.
151 rock chip and mullock samples have been previously taken in the project area, although not all were undertaken by the Company and therefore not all the results can be verified. In the 1980’s Gold Mines of Kalgoorlie collected 16 samples with results reaching 2.1 g/t. A comprehensive sampling program in 2014 contained results reaching 23 g/t.
A summary of the sources of historical sampling is provided below:
The Company’s own sampling program included testing of quartz veins plus
the surrounding sedimentary host rocks. The samples containing the
quartz veins were consistently higher grade. The results from this work
is shown in Figure 9.5 of a Competent Persons Report to the Company
announced on 20 . However, Figure 9.5 does not
distinguish between the samples that have quartz from those that do not
and was assayed by three differing laboratories. The current round of
sampling therefore aims to gain a consistent set of samples, assayed by
only one laboratory.th
Mineralised Sample Table
Table 1.Assay results of 22 samples greater than 0.5 g/t Au from the 76 rock chip samples submitted (MGA 94 Zone 55)
Tested by: On Site Laboratory Services (ISO 9001 Registered),
Bendigo,
COMPETENT PERSON STATEMENT
The information in this announcement that relates to Exploration Results
is based on information compiled by Dr of
provides geological services to , including the services of , who has a PhD in geology,
is a Member and RPGeo of the and
is a Member of the . 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’. consents to the
inclusion in the announcement of the material based on his information
in the form and context in which it appears.
ABOUT
ECR is a mineral exploration and development company. ECR’s wholly owned
Australian subsidiary Mercator Gold Australia has 100% ownership of the
Avoca, Bailieston, Creswick, Moormbool and Timor gold exploration
licences in central .
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 . An NI43-101 technical
report was completed in respect of the Danglay project in
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 , . Exploration at SLM has
focused on identifying small tonnage mesothermal gold deposits which may
be suitable for relatively near-term production.
FOR FURTHER INFORMATION, PLEASE CONTACT:
FORWARD LOOKING STATEMENTS
This announcement may include forward looking statements. Such statements may be subject to numerous known and unknown risks, uncertainties and other factors that could cause actual results or events to differ materially from current expectations. There can be no assurance that such statements will prove to be accurate and therefore actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking statements. Any forward-looking statements contained herein speak only as of the date hereof (unless stated otherwise) and, except as may be required by applicable laws or regulations (including the AIM Rules for Companies), the Company disclaims any obligation to update or modify such forward-looking statements because of new information, future events or for any other reason.
View source version on :businesswire.comhttps://www.businesswire.com/news/home/20180928005165/en/
Source:
- 76 rock chip samples submitted to the laboratory with assays confirming 22 samples contained gold mineralisation with gold grades ranging from 0.5 g/t to 67.4 g/t (2.17 ounces per ton);
- Because some of the samples returned high grades, resampling was conducted for 14 mineralised samples in line with QA/QC procedures with repeat analysis demonstrating consistent results and gold grades ranging from 1.4 g/t to 75.5 g/t (2.4 ounces per ton);
- The samples provide evidence of gold at surface across five target areas, albeit at an early stage of exploration, and demonstrate the potential prospectivity of the Company’s exploration ground, in addition to the existing gold mineralised key targets at Creswick and Blue Moon. But at this stage there is no indication it is economic;
- These results compare to previous sampling of quartz veins plus the surrounding sedimentary rocks host rocks that tested the hypothesis that low-grade mineralisation may be found in the wall rock. The earlier results showed that the samples containing quartz veins were consistently higher, reaching 23 g/t Au. Further information in respect of historical sampling is provided below;
- Further assay results are awaited in respect of the second group of 74 rock chip sample assays and those results will be announced to the market when received.
- 15 samples by (later Gold mines of Kalgoorlie).
Reported in the EL1616 Annual Technical Report ;
Metals Exploration Ltd September 1986 - 49 samples by Sierra Minerals, EL4719 Sept 2006 ATR;
- 6 samples by (later Currawong Resources, later
Mercator Gold), EL5433 Sept 2013 ATR;
Flitegold Ply Ltd - 62 samples by (later Currawong Resources, later
Mercator Gold), EL5433 Sept 2014 ATR plus an additional sample that
was not submitted;
Flitegold Ply Ltd - 1 sample by (later Currawong Resources, later
Mercator Gold), EL5433 Sept 2015 ATR;
Flitegold Ply Ltd - 13 samples by (and reported by Mercator Gold),
EL5433 Sept 2016 ATR including the best assay of all the sampling of
23 g/t.
Flitegold Ply Ltd
SampleID | Easting (m) | Northing (m) | Au | Au(R) | |||||
LX0764 | 326,524 | 5,931,330 | 67.4 | 75.5 | |||||
LX0770 | 326,707 | 5,931,382 | 20.8 | 22.5 | |||||
LX0767 | 326,706 | 5,931,382 | 18.4 | 18.5 | |||||
LX0765 | 326,520 | 5,931,319 | 13.9 | 15.2 | |||||
LX0766 | 326,516 | 5,931,320 | 13 | 15 | |||||
LX0758 | 326,479 | 5,931,407 | 8.33 | ||||||
LX0759 | 326,477 | 5,931,407 | 7.38 | 7 | |||||
LX0757 | 326,487 | 5,931,405 | 6.81 | 7.96 | |||||
LX0756 | 326,483 | 5,931,397 | 3.18 | 3.27 | |||||
LX0769 | 326,691 | 5,931,344 | 2.31 | 2.38 | |||||
LX0816 | 326,775 | 5,931,017 | 1.78 | 1.62 | |||||
LX0745 | 326,317 | 5,931,411 | 1.4 | ||||||
LX0793 | 326,466 | 5,931,245 | 1.36 | 1.53 | |||||
LX0800 | 326,553 | 5,931,211 | 1.31 | 1.56 | |||||
LX0782 | 326,441 | 5,931,342 | 1.21 | 1.36 | |||||
LX0805 | 326,650 | 5,931,101 | 1.18 | ||||||
LX0794 | 326,462 | 5,931,245 | 1.15 | ||||||
LX0768 | 326,658 | 5,931,316 | 0.97 | ||||||
LX0788 | 326,427 | 5,931,281 | 0.72 | ||||||
LX0747 | 326,362 | 5,931,402 | 0.64 | ||||||
LX0778 | 326,627 | 5,931,615 | 0.53 | ||||||
LX0750 | 326,360 | 5,931,399 | 0.5 |
Tel: +44 (0)20 7929 1010 | ||
, Non-Executive Chairman | ||
, Director & CEO | ||
Email:
| ||
Website:www.ecrminerals.com | ||
Tel: +44 (0)161 832 2174 | ||
Nominated Adviser | ||
/ | ||
Tel: +44 (0)203 137 1902 | ||
Broker | ||
Tel: +44 (0)1483 413500 | ||
Broker | ||
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