ECR launches exploration work at Henry’s Hill in Victoria (ECR)

ECR Minerals (LSE:ECR) continued to ramp up its Australian gold exploration activity on Wednesday with the launch of work at its Henry’s Hill prospect in central Victoria. The £4m business, which was trading at 0.88p as at writing, has secured land access permission for the area, which is based within its Avoca gold project and will start soil geochemistry and field mapping ‘imminently’.

To date, ECR’s geologists have taken seven rock chip samples from the roadside reserve at Henry’s Hill at intervals of approximately 5m in shallow pits. Three of these samples returned 5.1g/t, 1.4g/t, and 1.3g/t gold.

The company hopes that its latest round of work can locate and better define the controls on mineralised shoots at the asset – known locally as Wolfram Hill due to the presence of tungsten-bearing ore. It added that it will also explore the potential for mineralisation to extend undercover to the east and the potential continuation of mineralisation to the west.

Henry’s Hill was mapped in 1950 by a government geologist who identified a series of north-dipping faults dissecting NW-trending sentiments. ECR added that the presence of tungsten is a good indicator of magmatic fluids, something that is prospective for mineralisation.

The work comes at a particularly busy time for ECR, which is now carrying out active exploration or project development activity at four projects across its Avoca Bailiestone, Creswick and Timor licences in Victoria.

Last week, the business rose after unveiling strong gold assays from a rock chip sampling programme at Timor. In total, it collected 84 rock samples from 19 prospects of which more than half were mineralised or anomalous at more than 0.1g/t gold.  

These anomalous samples came from 14 separate opportunities and averaged 1.8g/t gold, which ECR believes to suggest ‘high-level background gold content of the host rocks associated with many of the prospects’. The maximum gold grade encountered was 6.49g/t gold from a host rock slate without any quartz content – something ECR described as ‘remarkable’.

Speaking to MiningMaven on Wednesday, ECR’s chief executive Craig Brown said the organisation’s busy work schedule coincides with a healthy macro backdrop for gold prices:

‘With gold prices hitting record highs in the face of risk-off sentiment over recent weeks, the time is perfect for ECR to be embarking on an exploration campaign across many of its less explored assets,’ he said. ‘Against this backdrop, we are excited to continue updating investors on our progress over the coming weeks and months.’

To read our recent report on ECR’s drilling progress in Australia, please click here.

Author: Daniel Flynn

The Author does not hold any position in the stock(s) and/or financial instrument(s) mentioned in the piece.

Catalyst Information Services Ltd, the owner of MiningMaven.com, owns a position in the stock(s) and/or financial instrument(s) mentioned in the piece.

Catalyst Information Services Ltd, the owner of MiningMaven.com, has been paid for the production of this piece by the company or companies mentioned above.

MiningMaven.com and Catalyst Information Services Ltd are not responsible for its content or accuracy and do not share the views of the author. News and research are not recommendations to deal, and investments may fall in value so that you could lose some or all of your investment. Past performance is not an indicator of future performance.

ECR Minerals shines on 'remarkable' Timor gold assays

ECR Minerals (LSE:ECR) rose by 7.2pc to 0.99p on Tuesday after unveiling ‘remarkable’ gold assays at its Timor project in Victoria, Australia.

The business recently completed a rock chip sampling programme at the asset’s Shaw’s Reef and Anglo-Saxon Reef prospects, where quartz vein material assayed 22.6g/t gold and 26.3g/t respectively. These samples were taken randomly from waste dumps created by underground operations that were completed at Timor at the turn of the 19th century and produced many thousands of ounces of gold.

In total, ECR collected 84 rock samples from 19 prospects of which more than half were mineralised or anomalous at more than 0.1g/t gold. These anomalous samples came from 14 separate opportunities and averaged 1.8g/t gold, which ECR believes to suggest ‘high-level background gold content of the host rocks associated with many of the prospects’. The maximum gold grade encountered was 6.49g/t gold from a host rock slate without any quartz content – something the company described as ‘remarkable’.

Meanwhile, the work also discovered a new reef called Brilliant/Northumbria. ECR chief executive Craig Brown said the area extends over around 500m and is prospective for ‘widespread, low-grade gold mineralisation’.

Finally, the business said that many of the prospects boasted consistently anomalous gold grades, indicating that the ore is not nuggety and reliable grades can be expected. ECR is now reviewing the data it has collected to determine its next step at Timor, adding that it will update the market on each phase of its exploration programme as it is implemented and results are interpreted.

Timor is one of five projects owned by ECR in the Victoria Goldfields region of Australia. Historical records show that the Maryborough goldfield within the licence area has produced over 640,000oz of gold from hard-rock and alluvial sources.  Meanwhile, 220,000oz mined has also been extracted from hard-rock operations at an average grade of 14g/t gold.

ECR has identified two major fault zones at Timor called the Shaw-McFarlane Fault Zone and the Leviathan-Mariners Fault Zone. These are responsible for the majority of the project’s hard-rock gold production. ECR believes that both of the zones have the potential for modern open cut and underground mining techniques because of the scale of the deposits they present.

Alongside its work at Timor, ECR is currently completing exploration and project development operational activity at its Creswick and Bailieston licences in Victoria.

Author: Daniel Flynn

The Author does not hold any position in the stock(s) and/or financial instrument(s) mentioned in the piece.

Catalyst Information Services Ltd, the owner of MiningMaven.com, owns a position in the stock(s) and/or financial instrument(s) mentioned in the piece.

Catalyst Information Services Ltd, the owner of MiningMaven.com, has been paid for the production of this piece by the company or companies mentioned above.

MiningMaven.com and Catalyst Information Services Ltd are not responsible for its content or accuracy and do not share the views of the author. News and research are not recommendations to deal, and investments may fall in value so that you could lose some or all of your investment. Past performance is not an indicator of future performance.

ECR updates on search for ‘very high’ gold grades at Timor project in Victoria (ECR)

ECR Minerals (LSE:ECR) rose 2.04pc on Monday following the release of a positive drilling update for its Timor gold project in Australia. The £4.5m firm, which was trading at 0.93p a share on Tuesday, said it has now begun a rock chip sampling programme at the Victoria-based asset.

More than 90 samples have already been collected and submitted to the laboratory for assay testing as part of the programme, which will include the sampling of rock dumps from old gold workings. ECR will then undertake additional sampling along Timor’s two fault zones, to determine the style of gold mineralisation present.

Historical records demonstrate that operators have produced more than 640,000oz of gold at Timor from hard-rock and alluvial sources. Of this, they have mined 220,000oz from hard-rock operations at an average grade of 14g/t gold. Two fault zones called the Shaw-McFarlane Fault Zone (SMFZ) and the Leviathan-Mariners Fault Zone (LMFZ) are responsible for the majority of this output.

According to ECR, opportunities exist within the SMFV to identify and process gold mineralisation at ‘potentially very high grades’ by using modern techniques. Meanwhile, the organisation says that the scale of the LMFZ means that it offers the potential for modern open cut and underground mining techniques.

If merited, ECR plans to follow its sampling programme with a grid-based GDP pXRF survey for antimony and arsenic as pathfinders to gold mineralisation where outcrop or shallow cover exists. It will then look at completing a scout Rotary Air Blast drill on the best-developed targes

In Monday’s update, Craig Brown, chief executive of ECR Minerals, said: ‘I am pleased to confirm that the rock dump sampling from old workings is now underway at the Timor Gold Project and look forward to the findings from this work. We are aware of many prospectors searching for gold in and around the Company’s licence areas, and that includes the Timor gold project. This is interesting and demonstrates the potential of our ground.

‘However, it is worth noting that should ECR make a discovery within its licence areas, it would be seeking to implement a significant commercial gold production operation which has a different scale to that seen in local prospecting and for which extensive preparatory planning and execution would be needed. I look forward to providing further market updates in respect of Timor and our other Victoria gold fields interests, including Creswick where significant work is underway at present testing whole of reverse circulation sample bags for gold.’

Brown’s comments here refer to a recent gold prospecting documentary filmed in Australia’s Victorian Goldfields, in which some shots took place close to some of ECR’s licencing areas. During one part of the film, a team working around 5km from the boundary of Timor at a location called Dunolly discovered a 2.2kg gold nugget with an estimated value of c.$200,000.

On Monday, ECR said it was ‘very encouraged’ by the discovery, adding that it validates its ongoing belief in the area’s untapped potential. This is because the nugget would have to have had a local, primary source.

‘While gold nuggets are not the ECR objective in discovering a new economic primary gold deposit at Timor, they do form an added occasional bonus to the overall economics, especially when they form part of a rich high grade ore shoot,’ added the business.

Author: Daniel Flynn

The Author does not hold a position in the stock(s) and/or financial instrument(s) mentioned in the piece.

The Author has been paid to produce this piece by the company or companies mentioned above.

Catalyst Information Services Ltd, the owner of MiningMaven.com, owns a position in the stock(s) and/or financial instrument(s) mentioned in the piece.

Catalyst Information Services Ltd, the owner of MiningMaven.com, has been paid for the production of this piece by the company or companies mentioned above.

MiningMaven.com and Catalyst Information Services Ltd are not responsible for its content or accuracy. News and research are not recommendations to deal, and investments may fall in value so that you could lose some or all of your investment. Past performance is not an indicator of future performance.