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ECR Minerals says recent drilling programme at the Black Cat gold prospect encountered some encouraging grades

Craig Brown, ECR’s chief executive officer commented: “This was a valuable reconnaissance programme at a gold prospect which had never been drilled before"

Gold miner
He added: “Most of the locations had some historical gold mining activity, and all of them had positive previous rock chip sampling results”

ECR Minerals PLC (LON:ECR) said the drilling programme recently completed at the Black Cat gold prospect, within the Bailieston gold project area in the state of Victoria, Australia encountered some encouraging grades and provided important geological insights.

The AIM-listed precious metals exploration and development company noted that the reconnaissance rotary air blast (RAB) drilling programme targeted numerous quartz reefs at Black Cat with a total of 18 shallow holes for 485 metres of drilling.

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It said significant intersections were reported including 7 metres at 1.76 grammes per tonne (g/t) of gold from 35 metres; 3 metres at 4.26 g/t gold from 16 metres; and 1 metre at 6.3 g/t gold from 18 metres.

The group pointed out that the potential for supergene enriched mineralisation at the water table interface and for deeper primary mineralisation could be investigated by drilling deeper holes.

Craig Brown, ECR’s chief executive officer commented: “This was a valuable reconnaissance programme at a gold prospect which had never been drilled before, located immediately south of ground recently applied for by a subsidiary of Newmont Mining.

He added: “Most of the locations had some historical gold mining activity, and all of them had positive previous rock chip sampling results.”

“As well as some encouraging grades, the drilling has provided important geological information which may help vector further exploration in the project area towards achievement of ECR’s prime strategic objective, which is the discovery of a multi-million ounce gold deposit,” Brown concluded.

ECR’s wholly-owned Australian subsidiary Mercator Gold Australia Pty Ltd (MGA) has 100% ownership of the Bailieston project.

The Black Cat prospect is located immediately south of ground recently applied for by Newmont Mining, and is among the high priority targets identified by the geophysical interpretation and targeting study completed for MGA in late 2017.

Quick facts: ECR Minerals PLC

Price: 0.701 GBX

AIM:ECR
Market: AIM
Market Cap: £3.16 m
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