11:14 Fri 21 Jun 2019
Progress on Creswick Gold Project - Australia
--(BUSINESS WIRE)--
(“ECR Minerals”, “ECR” or the “Company”)
Progress on -
(LON:ECR), the precious metals exploration and development company, is pleased to provide an update in respect a recent site visit undertaken by the CEO at the in .
, Chief Executive Officer commented:
“Given the recent results and the potentially Company transformational nature of Creswick, I was very pleased with my site visit and our positive progress on all fronts. Discussions with our advisors have demonstrated the significant potential of the project and we will continue to move our work programmes forward as aggressively as possible.
Subject to the ongoing results of our work, and assuming positive exploration outcomes, we are seeking to rapidly advance Creswick toward a JORC compliant resource. We have been thorough in our planning, including the development of the sample testing programme, and this should provide a solid foundation for the further advancement of Creswick.
I believe that this project at Creswick subject to further exploration and positive drill results will add significant value for shareholders. I would like to thank our team and partners for all their work and progression on this major project. I look forward to providing further project updates as they become available for our shareholders.”
Highlights:
https://www.ecrminerals.com/images/2019/7054d596-13e9-4f6e-9020-d16eb9c5e033.jpg
https://www.ecrminerals.com/images/2019/98a44a96-bcb4-4d22-92a1-9ad1867f5661.jpg
https://www.ecrminerals.com/images/2019/CSR005_section.png
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.
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 (RIS), this inside information is now considered to be in the public domain.
FOR FURTHER INFORMATION, PLEASE CONTACT:
ABOUT
ECR is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary has 100% ownership of the Avoca, Bailieston, Creswick, Moormbool and Timor gold exploration licences in central and the in the , .
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.
View source version on :businesswire.comhttps://www.businesswire.com/news/home/20190621005102/en/
Source:
- The internal modelling undertaken by ECR’s technical team has identified that the at the which, subject to further exploration and positive drill results, is potentially large enough to host a multi-million ounce gold deposit;
Dimocks Main Shale Creswick Gold Project - As announced on the detailed testing of sample bags for gold content (from the recently completed reverse circulation drilling programme) is now well underway and we will announce results as appropriate;
11 June 2019 - ECR has mobilised its technical team and advisers to site to review the prospective areas, conduct certain additional exploration work and to plan proactively for development of the project;
- The work programme has produced visible fine gold in pan samples from gold panning in the vicinity of recent drill hole locations. The images from the site visit, including pan samples demonstrating fine gold, collected under the supervision of a competent geologist, have been uploaded to the ECR website and may be viewed through the following links:
- Geological reconstruction and interpretation by the ECR technical team is revealing the complex geology of the folded and faulted to explain the significant width of quartz zones extending over 60 metres and beyond the 25 metre . The cross section can be viewed through the following link:
Dimocks Main Shale Dimocks Main Shale
- ECR has rented a large aircraft hangar and house at Nagambie for the sample storage and supervised preparation and drying of bulk samples. Further the Company has purchased large laboratory equipment for this;
- The ECR technical team is examining ways to further expedite bag testing and ground exploration, and also to optimise the gathering of information in a manner that will support, if applicable, the quantification of a JORC compliant resource;
- ECR expects to provide additional information in respect of the in the near term, including the appointment of a specialised Resource Geologist to assist with project development and resource quantification;
Creswick Gold Project
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