ECR Minerals PLC (AIM:ECR) said new soil samples have confirmed the indications of gold at HR3 at Bailieston, Victoria reported yesterday in a drilling report.
Six of 160 samples returned gold values above 0.1 g/t gold with the majority of these affiliated with moderate arsenic levels and high antimony levels, said said ECR.
ECR has 100% ownership of the Bailieston project, which is operated by subsidiary Mercator Gold Australia.
David Tang, chairman, said: “I said yesterday that our understanding of the Maori Anticline and HR3 had grown exponentially: this understanding has taken a further step forward today with soil sampling results that not only show a growing and extending area of anomalies, but that also support the dilational jog model outlined by our head geologist Adam Jones at holes BH3DD009, BH3DD010 and BH3DD011.
“Along with our geologists, the board are genuinely excited at the scale and development potential of HR3. I look forward to reporting further assay results to you as they become available.”