ECR Minerals PLC (AIM:ECR) reported early success from phase two drilling at its HR3 project at Bailieston, Victoria, Australia.
Initial results have been received with the first hole completed, BH3DD009, returning 0.7m at 28.06g/t Au from 52.7m depth from the Maori Reef, a statement read.
The gold values correlate well to high arsenic and antimony (stibnite) pXRF values - proof of their importance as pathfinder elements within the Bailieston area, added ECR.
“We are pleased with the excellent results from hole BH3DD009 at HR3," David Tang, ECR chairman said. "As this intensive drilling campaign continues, so our understanding of the Maori Anticline continues to grow."
Tang also gave credit to Craig Brown, the founder and CEO of ECR who passed away earlier this month.
“With a clear picture of the HR3 goldfield structure starting to emerge, it is tragic that Craig Brown is no longer with us to see these latest developments,” said Tang.
“ I do know that all employees and directors at ECR and Mercator Gold are working hard to ensure that Craig’s vision for ECR’s flagship projects come to fruition.”
ECR owns 100% of the Bailieston Project (EL5433), which is operated by its wholly-owned subsidiary Mercator Gold Australia.