Gold-focused explorer and developer, ECR Minerals (LSE:ECR) edged up 2.5pc to 1.03p on Monday, after announcing the appointment of Resource Geologist, Keith Whitehouse. This follows an update on the firm’s Creswick Gold Project last Friday in which ECR gave further details on its elevated sampling and testing programme.
ECR’s technical team believes that the Dimocks Main Shale (DMS) at the Creswick Gold Project is potentially large enough to host a multi-million-ounce gold deposit. The team recently took advice from laboratories and has devised a plan to systematically test zones collecting around 640 sample bags of around 30kg each. The ramp-up and prioritising of sampling at Creswick follow the discovery of a nuggetty gold system at the deposit in May. Sample bags will be initially prioritised for further analysis using metal detection and whole bags positively identifying metal content will be tested extensively. This will provide a much more reliable sample size to determine the extent of the gold nugget distribution across the target area.
In Friday’s announcement, ECR said its technical team and advisers have now been mobilised to the site to review the prospective areas, conduct certain additional exploration work and further plan for the development of the project.
A large aircraft hangar and house at Nagambie has been rented by ECR for the storage and preparation of bulk samples, and the company has also purchased large laboratory equipment.
Geological reconstruction and interpretation by the firm’s technical team are revealing the complex geology of the Dimocks Main Shale. The deposit is folded and faulted with significant widths of quartz zones extending over 60 metres and beyond the 25 metres Dimocks Main Shale.
ECR’s Chief Executive Officer, Craig Brown commented: “Given the recent results and the potentially Company transformational nature of Creswick, I was very pleased with my site visit and our positive progress on all fronts. Discussions with our advisors have demonstrated the significant potential of the project and we will continue to move our work programmes forward as aggressively as possible.
Subject to the ongoing results of our work, and assuming positive exploration outcomes, we are seeking to rapidly advance Creswick toward a JORC compliant resource. We have been thorough in our planning, including the development of the sample testing programme, and this should provide a solid foundation for the further advancement of Creswick.
I believe that this project at Creswick subject to further exploration and positive drill results will add significant value for shareholders. I would like to thank our team and partners for all their work and progression on this major project. I look forward to providing further project updates as they become available for our shareholders.”
Cross-section of the Dimocks Main Shale
Resource Modelling Experience
ECR is hoping to achieve a JORC compliant resource at the Creswick Gold Project, and in preparation of this goal, has brought in further relevant experience to the team. The firm has appointed Resource Geologist Kevin Whitehouse of Australian Exploration Field Services Pty Limited, as a consultant to the company and intends on applying his experience and knowledge to the further development of Creswick.
Mr Whitehouse has over 40 years of experience in the natural resources sector with an emphasis on resource modelling, JORC and NI 43-101 reporting, business development, and data management.
Craig Brown said: “I am delighted to announce the appointment of Keith Whitehouse as an adviser to the Company. Keith’s knowledge and experience will be applied immediately with regard to our ongoing work at Creswick, where we are seeking to quantify gold mineralisation in a manner that, if applicable, can be embodied within a JORC compliant resource.
In addition, Keith’s skills will be of further value in respect of other projects in our Victorian portfolio, especially those where knowledge and experience relevant to resource modelling in a nuggetty environment are required.”
Author: Stuart Langelaan
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.