ECR Minerals PLC (AIM:ECR)’s latest drill results at the Maori Reef project in Victoria, Australia, have unearthed what the company described as “very encouraging gold grades”.
The results from hole BH3DD019, which was drilled at the north end of the project, identified four mineralised zones, with the ‘best’ intercepts showing grades of up to 9.5 grams per tonne.
“I am delighted to report that our team of geologists headed by Adam Jones are reporting some very encouraging gold grades at hole BH3DD019,” said ECR chairman David Tang.
“Furthermore, the epizonal mineralisation identified through the drilling work and assay results correlates with nearby deposits at Costerfield, Nagambie and Whroo mine and this is assisting with our understanding of the regional gold trend as we work towards identifying a possible ore resource.”
"As outlined below, following COVID-19 delays the assay results are now starting to flow back to us, and I look forward to announcing further results in the coming weeks.”
Highlight gold results from the hole included 0.5 metres at 9.5 grams per tonne, 0.8 metres at 4.96 g/t, 0.3 metres at 4.59 g/t, and 0.6 metres at 6.15 g/t.
The company noted that geological logging of visible stibnite in holes drilled into the Maori Reef which it says also correlates well with expectations of reportable gold.
Stibnite, arsenopyrite and gold mineralisation collectively identifies with an ‘epizonal’ style of mineralisation which is typical of the nearby deposits such as Costerfield, Nagambie and Whroo, ECR added.