Windidda Gold Project Australia - Positive Geophysics Update
(“ECR Minerals”, “ECR” or the “Company”)
WINDIDDA GOLD PROJECT - POSITIVE GEOPHYSICS UPDATE
(LON:ECR), the precious metals exploration and development company, is pleased to provide an update with regard to the Company’s Windidda gold project located in the Yilgarn region of .
The Windidda gold project includes nine licence applications covering approximately 1,600 square kilometres of the Yilgarn region. The application areas were identified as a potential greenstone hosted orogenic gold exploration opportunity with significant potential to contain Archaean greenstones buried beneath cover. The application process for the licences is ongoing at present.
The focus of this announcement, the processing and interpretation of airborne and ground geophysics, is an important element in the determination of high profile drill targets, enabling the rapid assessment of the potential for gold mineralisation.
, Chief Executive Officer, commented:
“The results of the study by Western Geophysics are most encouraging and demonstrate real potential for the discovery of gold mineralisation hosted in under-cover Archaean greenstones in the world-class gold mining environment of .
The under-cover greenstone exploration model has been successfully tested to date by Greatland Gold at its project located approximately 125km east of ECR’s Windidda gold project.
We look forward to moving the Windidda gold project forward and reporting back to the market with further developments.”
MGA has nine exploration licence applications located approximately 150km north of Laverton in , which comprise the Windidda project. An update on the status of the applications was provided in the Company’s announcement dated , which may be viewed at the following link:
The locations of the exploration licence applications, the regional geology and the gold and base metal (nickel) occurrences in the Gerry Well greenstone belt to the south are shown on Figure 1, which may be viewed at the following link:
The Windidda project area is underlain by Proterozoic age sediments of the . The basin rocks unconformably overlie Archaean rocks of the northern margin of the Yilgarn craton.
The geophysical modelling results show the depths to magnetic sources are shallowest on the highly magnetic trend striking NNW-SSE in the western half of the project area. Shallow, altered and mineralised gold intersections from drilling by (“North”) in 1998-2000 coincide with the highly magnetic units in their project area (labelled “Windidda South” on Figure 1), located outside the Windidda project area to the south. The magnetic and mineralised trend ( trend) projects into Windidda exploration licence application E38-3369 and the modelling results indicate feasible drill targets there.
The modelling shows increasing depth to the north for central and eastern zones of NNE-SSW striking, strongly magnetic units. Magnetic units at <200 metres BGL (below ground level) are indicated on Lines 2000 and 2001, shown on Figure 18, which may be viewed at the following:
In order to advance future exploration, additional geophysics surveys are recommended to lower risk prior to any drilling. These being detailed gravity and high-resolution airborne EM surveys.
Previous work completed by North, located approximately seven kilometres to the south of the southern boundary of Windidda exploration licence application E38-3369, determined the Proterozoic is approximately less than or equal to 100 metres thick with some more shallow areas of Archaean banded iron formation (BIF) and ultramafic formations in subcrop.
A significant amount of work was done there by North ( project) from 1998 to 2000 including, mapping, drilling, some gravity lines and induced polarisation surveys. Unfortunately, none of the ground geophysics data are lodged in digital format with the . North concluded: “Significant gold anomalism has been intersected within E38/589. Associated with anomalous gold values are strong alteration zones, major through-going structures and anomalous multi-element geochemistry. All these factors show that E38/589 exhibits significant potential for hosting gold mineralisation and, requires further drilling to test anomalous zones.” The mineralisation is labelled as Windidda South on Figure 1.
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:
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 Windidda gold project in the Yilgarn region, .
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.
- Processing, analysis and interpretation of gravity and open file airborne geophysics survey data covering the Windidda gold project area in has been completed by on behalf of ECR’s wholly owned Australian subsidiary (“MGA”).
Western Australia Western Geophysics Pty Ltd Mercator Gold Australia Pty Ltd
- The aim of the work was to process and interpret available airborne magnetic and ground gravity data to determine the depth of Archaean units below overlying sediments.
Proterozoic Earaheedy Basin
- The modelling results show the depths to magnetic sources are shallowest on the highly magnetic trend striking NNW-SSE in the western half of the Windidda project area.
- Shallow, altered and mineralised gold intersections drilled by in 1998-2000 coincide with the highly magnetic units in their project area, which lies outside the Windidda project area to the south.
North Ltd Bermuda
- The magnetic and mineralised trend ( trend) projects into Windidda exploration licence application E38-3369 and the modelling results indicate shallow feasible drill targets there.
Tel: +44 (0)20 7929 1010
, Non-Executive Chairman
, Director & CEO
Tel: +44 (0)161 832 2174
Tel: +44 (0)1483 413500
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