ECR Minerals PLC (AIM:ECR) said the latest soil sampling results from the Creswick Project at Victoria, Australia showed a relationship with arsenic that traditionally has indicated a gold presence in the region.
“Across the countless previous exploration campaigns undertaken across the Victoria Gold Fields, it is generally accepted that arsenic values are closely related spatially to gold-bearing structures,“ ECR noted in a statement.
A comparison study showed close spatial analysis between gold results and arsenic analysis at Creswick.
Arsenic analysis is now being undertaken on new areas at Creswick to indicate the possible presence of gold.
An initial 297 soil sample results were also taken, ECR said, the best result of which showed 0.668 parts per million (ppm) gold.
In the statement, Andrew Haythorpe, chief executive, said the soil sampling results are building a picture for potential new drill targets for the future.
He noted: “The board and geo teams are pleased to see that the regional historical precedents from the Ballarat East Mine and the spatial relationship between arsenic and gold are very much in evidence with ECR’s own results at Creswick.”
Next steps are for infill soil sampling work to continue along the strike areas containing the better soil sample results, said ECR.
Soil sample results (gold) are also due shortly for the remaining Mills Reef area and Kuboid Hill prospect, it added.