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Exploration Commences at Henry’s Hill – Avoca Gold Project - Australia

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Exploration Commences at Henry’s Hill – Avoca Gold Project - Australia

 

ECR MINERALS plc

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

Exploration Commences at Henry’s Hill – Avoca Gold Project - Australia

ECR Minerals plc (LON:ECR), the precious metals exploration and development company, is pleased to announce the commencement of gold exploration at Henry’s Hill within the Company’s Avoca gold project.

Craig Brown, Chief Executive Officer commented: “The ECR team are excited to feed Henry’s Hill at the Avoca gold project, into the pipeline of projects under exploration in Victoria.

The Avoca Gold Project is one of five projects held by ECR in the Victorian Goldfields region, with four projects at Avoca, Bailieston, Creswick and Timor now the subject of active exploration or project development operational activity.

We are delighted be highly active in the Victoria Goldfields region, at a time when the area is attracting considerable interest from larger companies and investors.”

Highlights:

  • Previously, ECR geologists have taken 7 rock chip samples from the roadside reserve at Henry’s Hill. The samples were taken approximately 5m from each other at various intervals across shallow pits on the roadside reserve. All seven samples were independently tested by Onsite Laboratory Services.
  • Three of these samples returned 5.1, 1.4 and 1.3 g/t gold;
  • ECR have secured land access permission from the landowner and will commence soil geochemistry and field mapping imminently;
  • The soil geochemistry will be undertaken in an attempt to locate the loci of the mineralised shoot/s;
  • In addition, the work will examine the potential for the mineralisation to extend under cover to the east and the potential continuation of mineralisation to the west;
  • Geological mapping conducted in conjunction with the soil geochemistry will attempt to better define the controls on the shoots.

Henry’s Hill Background

Henry’s Hill is located within EL5387 and is 10 km north of Avoca in central Victoria.

The area to be explored is historically known as Henry’s Hill but is also known to the locals as Wolfram Hill due to the presence of the tungsten-bearing ore that was mined along with gold.

Within Henry’s Hill there are shallow historic workings in a zone over 800 m long and up to 100 m wide and which can be seen through the link below:

https://www.ecrminerals.com/images/Projects/AHH_Henrys_Hill_Google_Earth.jpg

The zone has been worked to alluvial cover to the east and so may extend an additional 200 m to the tenement boundary. The workings die out to the west potentially as the influence of the faults diminishes.

The area was mapped in 1950 by government geologist D Thomas, who identified a series of north-dipping faults dissecting NW trending sediments. The most likely geological reconstruction has these faults intersecting a north-plunging anticline under cover to the east. This relationshipis hypothesised to explain the faults diminishing to the west and will be investigated during field mapping.

The presence of tungsten is a good indicator of the influence of magmatic fluids. Granites occur at the surface to the north. Further evidence for granite-related mineralisation will be sought during the exploration work.

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 div 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:

[email protected]

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

Quick facts: ECR Minerals PLC

Price: 0.625

Market: AIM
Market Cap: £2.82 m
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