ECR Minerals

  • This year has seen ECR Minerals (LSE:ECR) launch an extensive exploration campaign across the highly popular Australian state of Victoria as it continues its search for multi-million-ounce gold deposits. Early signs of success have supported a substantial increase in the company’s share price from 0.75p to 1p, despite a harsh commodity market backdrop and weak investor sentiment in the UK, where it is based. In this special report prepared by MiningMaven, we break down ECR’s progress and plans at each of its Victoria prospects and outline its activity across the rest of Australia.

    CLICK TO DOWNLOAD YOUR COPY OF THE REPORT

    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.

  • 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.

  • On Monday, ECR Minerals (LSE:ECR) announced it had started the processing and interpretation of airborne and ground geophysics at its Windidda gold project. The project is 100pc owned by ECR and contains nine exploration licenses across the Yilgarn region in Western Australia.

    Windidda is thought to contain Archaean greenstones buried beneath cover, the likes of which host many of Western Australia and the world’s most prolific gold deposits.

    This particular gold exploration model has already been tested successfully by Greatland Gold (LSE:GGP) at the Ernest Giles project located 125km east of Windidda.  The nine licence applications submitted by ECR also cover a large proportion of an identified gravity-magnetic trend with known gold prospects along trend to the south.

    The analysis of airborne and ground geophysics is a key stage in determining the locations of potential high-profile drill targets. ECR expects these to be amenable to cost-effective air core drilling which will give the explorer greater clarity on the potential gold mineralization on offer.

    The Yilgarn Craton is Australia's premier mineral province, attracting more than half of Australia's minerals exploration expenditure, and responsible for two-thirds of all gold and most of the nickel mined in Australia. In fact, Yilgarn contains around 30pc of the world's known gold reserves. Additionally, It is also rich in nickel - holding 20pc of global reserves, - and 80% of the world's tantalum reserves can be found there. Copper, Iron ore, zinc and minor lead reserves have all been identified at Yilgarn Craton.

    Craig Brown, Chief Executive Officer commented: “I am pleased to announce that we have launched the next crucial stage in the development of our understanding of scale of the Windidda gold project.

    The work being undertaken will greatly assist our understanding of the Project and help us to focus on the higher profile target areas for follow up drilling.

    The feedback from this work will be available to the Company shortly and will enable us to advance our operational planning, including the development of key drill targets in our search for high impact gold mineralisation.” 

    Author: Stuart Langelaan

    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 performanceure performance

     

  • ECR Minerals (LSE:ECR) announced on Tuesday that is has submitted a number of new license applications to potentially add to its existing gold exploration interests in the Victoria region of Australia.

    The four new license applications have been submitted by ECR’s 100% owned Australian operating vehicle Mercator Gold Australia Pty Limited. Three of the applications relate to the Bailieston/Moormbool gold project area to augment existing licences and secure available ground south and south and south-west of an application submitted by Newmont Exploration Pty Limited in recent weeks. Newmont’s license application for a large area near to ECRs existing Bailiston gold project bodes well for ECR. A company of that size typically dedicates a great deal of resources to due diligence prior to securing new licenses and ECR extending its own acreage nearby could prove to be a very prudent move.

    The other license application has been submitted to add to the ground in the Creswick project area and covers a southern portion of the Dimocks Main Shale (DMS). The DMS sits between two large gold producing areas where it is estimated historically, 15 million ounces of gold has been produced in Victoria, Australia. The Company’s technical team believes they have identified the hard rock source for a significant portion of the aforementioned 15 million ounces of gold production, although it notes further work is required to validate this proposition. 

    Craig Brown, Chief Executive Officer of ECR Minerals plc commented: “I am delighted to announce today that the Company has successfully submitted four new applications which materially bolster our strategic ground holding and provide significant additional exploration opportunities for our Australian operations.

    The recent application submitted by Newmont Exploration Pty Limited over a large area bordering our Bailieston and Moormbool gold projects is an important ratification of our strategic Australian gold positioning. The presence of Newmont adds weight to the potential prospectivity of the area.

    ECR’s exploration work at Bailieston has recently demonstrated gold prospectivity as highlighted by the results of our Bailieston sampling programme announced on 28 September 2018 with gold grades up to 67.4g/t.

    At Creswick and as announced on 25 September 2018 our exploration mapping revealed a large gold system, and reflecting our wider exploration work to date, we have taken the opportunity to secure more strategic ground south of our existing Creswick project area.

    ECR continues to examine new opportunities and will move to secure additional ground where appropriate.”

    Author: Stuart Langelaan

    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 (LSE:ECR) enjoyed an 8.3pc jump to 0.9p in midday trading on Thursday after announcing strong progress in its drilling campaign at Victoria, Australia.

    The business said it has now completed 1,687m of reverse circulation drilling in 17 target holes at its Creswick gold project. Here, it is targeting multiple quartz vein orientations within the Dimocks Main Shale (DMS), a 15km-long hard rock geological feature and the source of much alluvial and deep lead gold. Exploration mapping by the company has identified a large gold system within the DMS.

    On Thursday, ECR said its drilling so far has intersected quartz reefs as anticipated. It is now awaiting assay results to determine the extent of gold mineralised shoots in samples.

    The firm noted that increasing interest in gold exploration across Victoria has led to a significant increase in the number of samples being processed at local laboratories recently. As a result, it now expects samples to be turned around in two to four weeks rather than one week, as originally predicted.

    ECR added that it will provide further updates to the market ‘at the earliest opportunity’. However, the firm added that it expects a flow of assay results over coming weeks because its samples have been sat in laboratories ‘for some time’.

    Elsewhere, ECR said it has now completed 774m of RC drilling in six target holes at its Blue Moon gold prospects. Work at Blue Moon, located within ECR’s Bailieston project area, follows up on the evidence of a near-surface mineralised gold system announced last July.

    Drilling at the site is ongoing and is targeting extensions of areas where sulphides have been intersected, and gold mineralisation has been identified. The firm is now reviewing its field finding here with a view to drilling further in areas of noted interest.

    ECR chief executive Craig Brown said the organisation has now completed 2,461m of drilling in less than a month. All-in-all, it intends to carry out between 4,000-6,000m of RC drilling in Victoria as part of the campaign, which was announced at the end of January.

    ‘We have successfully encountered a number of host structures that were anticipated and targeted in our drill programmes, and we have panned gold within some of the drill samples,’ added Brown. ‘The company’s approach has been to define drill targets based on historical exploration, field mapping and soil geochemistry with an iterative review programme to extend drilling where target geological structures and gold mineralisation therein is encountered. We await assay data to add to our field observations and will provide further updates to the market when assay information has been received and reviewed by the team.’

    Thursday’s update comes at a particularly busy time for ECR. Alongside its work at Creswick and Blue Moon, the firm began an additional drilling campaign at its Black Cat prospect in Bailieston earlier in February. Black Cat is among the high priority targets identified by Terra Resources in 2017 and has not previously been drilled. The candidate is located immediately south of ground recently applied for by resources giant Newmont Exploration.

    Alongside its various drilling updates, last month also saw ECR announce that it had submitted applications for the nine exploration licences that make up the Windidda gold project in the Yilgarn region of Australia.  The area has been identified as a gold exploration opportunity because it has the potential to contain Archaean greenstones beneath shallow cover. Archaean greenstones host many of Western Australia and the world’s most prolific gold deposits.

    The under-cover greenstone gold exploration model has already been tested successfully by Greatland Gold at its nearby Ernest Giles project.  Furthermore, ECR’s licence applications also cover a large proportion of an identified gravity-magnetic trend with known gold prospects along trend to the south.

    Previous exploration at Windidda has only targeted base metal and manganese deposit within cover sequences. ECR expects its target areas to be amenable to aircore drilling. It hopes this will enable it to make a rapid assessment of their potential for gold mineralisation.

    Author: Daniel Flynn

    The Author does not hold any 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.

  • ECR Minerals (LSE:ECR) was sat at 0.9p during midday trading on Monday after revealing drilling progress in at its Black Cat gold prospect in Victoria, Australia. The business said it has now completed 250m of rotary air blast drilling across ten new holes in the area.

    Most of the holes have been drilled in the northern part of the prospect, based within ECR’s Bailieston gold project and immediately south of ground recently applied for by Newmont Exploration. However, three have been completed on the main central workings and one in the southern dyke.

    Wide zones of alteration were intersected in seven holes, with quartz veining in another two. Meanwhile, 77 samples have been delivered for laboratory assay testing, with results awaited. ECR said it would provide the results of these tests ‘at the earliest opportunity’, once the company’s technical team has analysed them.

    In the meantime, the company will continue to drill the remainder of its planned 450m programme at Black Cat. Black Cat is among the high priority targets identified by Terra Resources in 2017 and has not previously been drilled

    ECR chief executive Craig Brown said: ‘As with Creswick and Bailieston Blue Moon, drilling at Black Cat is proceeding well and we are pleased with the work undertaken to date. We look forward to providing further drilling progress updates and the findings following the review of assay results by our technical team.’

    The news comes just days after ECR said it has now completed 1,687m of reverse circulation drilling in 17 target holes at its Creswick gold project.  Here, it is targeting multiple quartz vein orientations within the Dimocks Main Shale (DMS) through a 4,000-6,000m drilling programme.  

    The DMS a 15km-long hard rock geological feature and the source of much alluvial and deep lead gold. Exploration mapping by the company has identified a large gold system within the structure.

    Last week, ECR said its drilling has so far intersected quartz reefs, as anticipated.  It is now awaiting assay results to determine the extent of gold mineralised shoots in samples.

    The firm noted that increasing interest in gold exploration across Victoria has led to a significant increase in the number of samples being processed at local laboratories recently.  As a result, it now expects samples to be turned around in two to four weeks rather than one week, as originally predicted.

    As in Monday’s Black Cat announcement, ECR added that it would provide further updates to the market ‘at the earliest opportunity’.  However, the firm added that it expects a flow of assay results over coming weeks because its samples have been sat in laboratories ‘for some time’.

    Elsewhere, ECR said it has now completed 774m of RC drilling in six target holes at its Blue Moon gold prospects.  Work at Blue Moon, located near Black Cat in Bailieston, follows up on the evidence of a near-surface mineralised gold system announced last July. Drilling at the site is ongoing and is targeting extensions of areas where sulphides have been intersected, and gold mineralisation has been identified. The firm is now reviewing its field finding here with a view to drilling further in areas of noted interest.

    Alongside its various drilling updates, January saw ECR announce that it had submitted applications for the nine exploration licences that make up the Windidda gold project in the Yilgarn region of Australia. The area has been identified as a gold exploration opportunity because it has the potential to contain Archaean greenstones beneath shallow cover.

    Archaean greenstones host many of Western Australia and the world’s most prolific gold deposits. The under-cover greenstone gold exploration model has already been tested successfully by Greatland Gold at its nearby Ernest Giles project. Furthermore, ECR’s licence applications also cover a large proportion of an identified gravity-magnetic trend with known gold prospects along trend to the south.

    Previous exploration at Windidda has only targeted base metal and manganese deposit within cover sequences.  ECR expects its target areas to be amenable to aircore drilling. It hopes this will enable it to make a rapid assessment of their potential for gold mineralisation.

    Author: Daniel Flynn

    The Author does not hold any 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.

     

  • On Tuesday, gold explorer and developer ECR Minerals (LSE:ECR) announced it has commenced exploration activities at its Timor Gold Project in the Victorian Goldfields region of Australia. ECR has five projects in the region, with exploration now underway in three of them; Bailieston, Creswick and now Timor. With activity now starting at the latter, this summer holds a great deal of promise for news flow for the company. 

    Timor includes some very high-grade gold deposits up to 7 ounces per tonne and ECR says the historical gold mines were not developed fully at depth. This was likely due to technical challenges, but modern techniques could open up the opportunity for renewed, significant production.

    Two major fault zones have been identified at Timor; the Shaw-McFarlane Fault Zone (SMFZ) and the Leviathan-Mariners Fault Zone (LMFZ).  Reconnaissance rock dump sampling along the two faults will be undertaken which, depending on the findings, will be followed-up with a grid-based GPS portable X-ray Fluorescence (pXRF) survey for antimony and arsenic as pathfinders to gold mineralisation. The next stage will likely be a programme of Rotary Air Blast (RAB) drilling on identified targets.

    ECR says that due to the scale of the deposits present, there is the potential to employ modern open cut and underground mining techniques at both the fault zones.

    This month has been a very active period for ECR, particularly in relation to its Creswick Gold Project located to the south of Timor. The firm has significantly ramped-up its sampling and testing programme following the discovery of a nuggetty gold system at the deposit in May. ECR’s team on the ground are systematically testing zones collecting around 640 sample bags of around 30kg each. 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.

    Geological reconstruction and interpretation by ECR’s technical team are revealing the complex geology of the Dimocks Main Shale which the firm believes is potentially large enough to host a multi-million ounce gold deposit.

    The company is working towards achieving a JORC compliant resource at Creswick and in preparation of this goal, has brought in further relevant experience. 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.

    MiningMaven caught up with ECR’s Chief Executive Officer, Craig Brown in a podcast interview earlier this week. You can listen to the interview below.

    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.

     

     

  • ECR Minerals (LSE:ECR) advanced 5.9pc to 0.9p on Tuesday following the release of an upbeat research report covering its operations. An ‘Initiation of Coverage’ report by New York-based investment bank Hallgarten & Company can be found on ECR’s website by clicking here.

    The work, compiled using publicly-available information, concludes by rating ECR as a long position with a 12-month target price of 2.5p per share.

    ‘With over GBP 1.2mn in the bank as at the end of last year and R&D rebates expected in from the Australian government, the company is well resourced and planned exploration only makes a relatively small dent in funds. This implies little to no dilution in the short term,’ it adds.

    Hallgarten acts as a strategic consultant to ECR and is compensated for its services. However, it does not hold stock in the business and does not have the right to in the future.

    The release of the report comes off the back of a busy start to the year for ECR. Earlier this month, the company announced the imminent launch of a third drilling programme in Victoria, Australia.  The firm has signed a contract for 450m of rotary air blast (RAB) drilling at the Black Cat gold prospect within its Bailieston gold project area. The work is expected to begin this month.

    Black Cat is among the high priority targets identified by geophysical interpretation and targeting studies completed by Terra Resources at Victoria in late 2017.  The prospect is located immediately south of ground recently applied for by resources giant Newmont Exploration.

    ECR is also preparing for two further drilling programmes in Victoria.  At the end of last month, the firm announced that it had signed a contract for 4,000-6,000m of reverse circulation drilling in the region.

    ECR said its first target is its Creswick Gold Project, where exploration mapping has identified a large gold system within the Dimocks Main Shale (DMS).  The DMS is a 15km-long hard rock geological feature and the source of much alluvial and deep lead gold. Drilling will target multiple quartz vein orientations identified within the DMS.

    Once this has completed, drilling will then move to the firm’s Blue Moon gold prospect, which is also located at Bailieston.  Here, ECR will follow-up a significant near-surface gold intercept and evidence of a near-surface mineralised gold system.  The drill target here is a sandstone that has been weathered heavily near the surface. However, ECR believes it may host higher grade gold mineralisation, including disseminated sulphides, at deeper levels.

    Alongside its various drilling updates, last month also saw ECR announce that it had submitted applications for the nine exploration licences that make up the Windidda gold project in the Yilgarn region of Australia. The area has been identified as a gold exploration opportunity because it has the potential to contain Archaean greenstones beneath shallow cover.  Archaean greenstones host many of Western Australia and the world’s most prolific gold deposits.

    The under-cover greenstone gold exploration model has already been tested successfully by Greatland Gold at its nearby Ernest Giles project.  Furthermore, ECR’s licence applications also cover a large proportion of an identified gravity-magnetic trend with known gold prospects along trend to the south.

    Previous exploration at Windidda has only targeted base metal and manganese deposit within cover sequences. ECR expects its target areas to be amenable to aircore drilling.  It hopes this will enable it to make a rapid assessment of their potential for gold mineralisation.

    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.

  • Shares in ECR Minerals (LSE:ECR) were up 6.5% on Tuesday morning after the firm announced its drilling programme in Victoria will begin this week. ECR is testing a number of gold targets across two 100% owned projects; Creswick and Bailieston.

    At the Creswick project, the company is focussing on a large gold system identified within the Dimocks Main Shale (DMS). The DMS sits between two large gold producing areas where it is estimated historically, almost 15 million ounces of gold has been produced in Victoria, Australia. This includes up to 2.6 million ounces Au from the the Creswick/Berry lead system, and up to 11 million ounces Au in the Ballarat area as a whole - the DMS is a significant contributor to the latter.

    Only two holes have been drilled to test the DMS within the Creswick licence, however exploration mapping undertaken by ECR’s technical team has revealed a potential link between the large alluvial gold system at Ballarat and Creswick.

    Once work at Creswick is complete the drill rig will move to the Blue Moon gold prospect in the Bailieston project. The project is located just 30km from the largest producing gold mine in Victoria, called Fosterville. The Fosterville gold mine produced around 300,000 ounces of gold in 2018. Also, a similar distance away is the Costerfield mine that currently produces 50,000 ounces per annum.

    ECR identified the gold system at Blue Moon in July last year. Assay results provided evidence of a significant near surface mineralised system, with large mineralised gold intercepts just 24.2 metres beneath the surface. The company hopes the gold system proves to be comparable to some of the mineralisation exploited at the Fosterville mine, with drilling last year supporting this hypothesis.

    Craig Brown, Chief Executive Officer of ECR, commented: “I am delighted to announce the commencement of this dual drill programme at Creswick and Bailieston which is seeking to test multiple gold targets across both projects.

    This is an extensive drilling campaign by the Company, and one of the largest we have undertaken in recent times. ECR’s objective is to discover a multi-million ounce gold deposit in Australia and based on the significant technical work undertaken to date, we believe the Creswick and Bailieston licences hold the potential for such a discovery.

    All the planned drilling is being undertaken from existing cash resources. The Company will be entitled to claim back a proportion of drilling costs under government grants subsidising drilling. As a result, and assuming on budget operations and cost recovery through grants, the entire programme is estimated to amount to under 20% of existing cash resources.

    I would like to thank our technical team and advisers for their hard work in recent weeks to bring this programme together.

    We will ensure material developments are released to the market as appropriate during the coming weeks and months.”

    Author: Stuart Langelaan

    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 (LSE:ECR) sat at 0.86p on Wednesday after announcing that it had begun drilling at its Black Cat gold prospect in Victoria, Australia.

    The firm has signed a contract for 450m of rotary air blast (RAB) drilling at Black Cat, which is based in its Bailieston gold project. RAB is a low-cost drilling method, which ECR says is particularly well suited to the prospect. The business has mentioned previously that it expects the technique to gather geological information in an ‘efficient and cost-effective manner’.

    Black Cat is among the high priority targets identified by geophysical interpretation and targeting studies completed by Terra Resources at Victoria in late 2017. The prospect is located immediately south of ground recently applied for by resources giant Newmont Exploration.

    The site is yet to be drilled but contains 220m of historical workings along three known lines of quartz reef. This holds strong gold-in-soil anomalism that indicates unworked reefs could remain at depth. Meanwhile, rock chip sampling of quartz-poor material suggests the potential for disseminated gold, with grades of up to 11.3g/t of the precious metal.

    In Wednesday’s update, ECR said composite samples representing 4m downhole lengths will be compiled from the site and assayed for gold. Once these have been received, composites that have returned anomalous gold grades will be re-sampled on a metre-by-metre basis. This second set of samples will then be sent for assay. ECR expects the turnaround time for these assays to be 2-6 weeks.

    ECRs chief executive Craig Brown has previously said that Black Cat is located at the ‘epicentre’ of the current gold exploration boom in Victoria. He has highlighted the prospect’s proximity to the successful Fosterville mine, which is owned by Kirkland Lake Gold.

    ‘This point is underlined by the arrival of Newmont Exploration in the district with an application for ground immediately to the north of the Black Cat prospect,’he said in an update earlier this month. ‘Notwithstanding our active operations we are keen to maintain strict budgetary cost control and it is notable that the use of RAB drilling at Black Cat is a particularly low-cost method of exploration and will enable us to gather geological information in an efficient and cost-effective manner.’

    Wednesday’s update has come during a particularly busy period for ECR, with the business also preparing for two further drilling programmes in Victoria. At the end of last month, the firm announced that it had signed a contract for 4,000-6,000m of reverse circulation drilling in the region.

    ECR said its first target is its Creswick Gold Project, where exploration mapping has identified a large gold system within the Dimocks Main Shale (DMS). The DMS is a 15km-long hard rock geological feature and the source of much alluvial and deep lead gold. Drilling will target multiple quartz vein orientations identified within the DMS.

    Once this has completed, drilling will then move to the firm’s Blue Moon gold prospect, which is also located at Bailieston. Here, ECR will follow-up a significant near-surface gold intercept and evidence of a near-surface mineralised gold system. The drill target here is a sandstone that has been weathered heavily near the surface. However, ECR believes it may host higher grade gold mineralisation, including disseminated sulphides at deeper levels.

    Alongside its various drilling updates, last month also saw ECR announce that it had submitted applications for the nine exploration licences that make up the Windidda gold project in the Yilgarn region of Australia. The area has been identified as a gold exploration opportunity because it has the potential to contain Archaean greenstones beneath shallow cover. Archaean greenstones host many of Western Australia and the world’s most prolific gold deposits.

    The under-cover greenstone gold exploration model has already been tested successfully by Greatland Gold at its nearby Ernest Giles project. Furthermore, ECR’s licence applications also cover a large proportion of an identified gravity-magnetic trend with known gold prospects along trend to the south.

    Previous exploration at Windidda has only targeted base metal and manganese deposit within cover sequences. ECR expects its target areas to be amenable to aircore drilling. It hopes this will enable it to make a rapid assessment of their potential for gold mineralisation.

    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 (LSE:ECR) announced today it is looking to expand operations into Western Australia having submitted nine new exploration license applications. The licenses cover a package of ground prospective for gold mineralisation across 1600 square Kilometres in the Yilgarn region and will be collectively called the Windidda gold project.

    Previous exploration within the project area has targeted base metal and manganese deposits. Licence applications cover a significant proportion of an identified gravity-magnetic trend with known gold prospects along trend in outcropping greenstone to the south (not owned by ECR). These gravity-magnetic anomalies have not been targeted to date.

    The under-cover greenstone gold exploration model has been successfully tested by Greatland Gold (LON:GGP) at its Ernest Giles project located approximately 125 kilometres east of the Windidda project.

    When granted, the project will complement ECR’s existing extensive gold exploration portfolio in Victoria, Australia.

    Map of ECR Minerals’ existing five licences in Victoria, Australia

    Things appear to be hotting up in the region, and just recently mining giant Newmont applied for a license for a large area of ground in close proximity to licenses held by ECR.  Via it’s 100% owned operating vehicle Mercator Gold Australia Pty Limited, ECR recently submitted four new licenses in Victoria. Three of the applications relate to the Bailieston/Moormbool gold project area to augment existing licences and secure available ground just to the south of acreage applied for by Newmont.  The fourth license application has been submitted to add to the ground in the Creswick project area.

    In December, ECR announced it had secured strategic funding of £680k, stating that, together with existing cash, the company now has sufficient working capital for operational plans until at least Q2 2020.

    Craig Brown, Chief Executive Officer of ECR Minerals plc, commented: “I am particularly pleased to announce this strategic move into Western Australia, which, like Victoria, has exceptional gold exploration potential in a first world operating environment.

    Greenstone-hosted gold trends in the Western Australian Yilgarn province are very tightly held and access to free ground, when it becomes available, is highly competitive. So, it is very encouraging that ECR has managed to compile a large land position of contiguous tenements covering untested gravity-magnetic anomalies representative of potential greenstone-hosted gold trends.

    The funds secured by ECR in the strategic financings of July and December 2018 have enabled us to continue engaging aggressively with potential new initiatives, the Windidda project being one.

    We are acquiring new ground in Australia at a time when many explorers and developers are financially weakened by market conditions. This, although unfortunate for the wider resource sector, is presenting ECR with multiple highly attractive options, and we intend to take full advantage.

    Our work continues at pace and I look forward to updating our shareholders further with additional new developments in the near term.”

    Author: Stuart Langelaan

    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

     

  • On Wednesday, ECR Minerals (LSE:ECR) announced a new gold discovery at its Blue Moon deposit in Victoria, Australia. ECR has just completed a follow-up reverse circulation drilling campaign at the deposit which is located within the firm’s Bailieston gold project. Twelve holes were completed for 1,718 metres drilled and significant intersections of gold mineralisation were made in nine of the holes. The results included a standout 2 metres at 17.87 grams per tonne (g/t) of gold within a zone of 15 metres at 3.81 g/t gold from 51 metres. The addition of these positive results to previous exploration at the deposit presents Blue Moon with the status of a new gold discovery.

    The highest grades were found in the westerly section where the company hopes to carry out further exploration. ECR will need the consent of the landowners to further pursue the identified system to the west and initial exploration would comprise of surface geochemical sampling first, with the possibility of further drilling to follow. 

    The Bailieston gold project is located around 30km east of the Fosterville gold mine which is currently the largest producing gold mine in Victoria, producing around 300,000 ounces of gold per annum. Another active mine, called Costerfield, can be found about the same distance to the south-west – it currently produces around 50,000 ounces of gold per year. The Blue Moon prospect shares analogous properties with the Fosterville mine.

    A map showing the location of all drill holes completed at Blue Moon

     

    Craig Brown, Chief Executive Officer of ECR Minerals plc, commented:

    “I am pleased to announce the complete results of the RC drilling programme undertaken at the Blue Moon prospect and the new gold discovery we have now confirmed.

    Within this follow-up programme, we have reported gold grades of up to 17.87 g/t gold over 2 metres from 57 metres and have significantly increased our knowledge of the geology at Blue Moon. This represents considerable advancement when set against the diamond drilling results reported in July 2018 from the first three holes at Blue Moon, which included a significant intersection of 39 metres at 0.3 g/t gold from 24.2 metres.

    With the knowledge gained from the RC programme we believe that the gold mineralisation intensifies further west and now have a clear action plan to follow the system. We are excited by the findings and will continue our work at Blue Moon and other prospects in the Bailieston project area, with our strategic objective remaining a multi-million ounce gold discovery.”

    Author: Stuart Langelaan

    The Author does not hold any 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.

  • 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.

  • On Wednesday, ECR Minerals (LSE:ECR) announced details of a follow-on gold nugget test programme at its Creswick project. The precious metals exploration and development firm reported the presence of a nuggetty gold system at the deposit in May, highlighting the significance of the find. The company drilled 17 holes at Creswick within the Dimocks Main Shale extracting a 30kg bag of samples. As per industry practices, a 2kg sample was assayed, but ECR explains that assay sample results could be understated as was demonstrated in the test. The assay from the 2 kg sample reported gold of 1.88g/t whereas the 30kg sample test showed the bag actually contained a substantially higher 11.8g/t of gold.

    The company’s technical team has taken advice from laboratories and has devised a plan to systematically test zones in and around 640 sample bags of around 30kg each. Bags will be initially prioritised for further analysis using metal detection and whole bags positively identifying metal content will be tested fully. This will provide a much more reliable sample size to determine the extent of gold nugget distribution across the target area.

    This much more extensive laboratory analysis will include a number of steps such as sieving, detecting, gold particle analysis, testing gravity concentration and assaying to determine the size distribution and grade of the coarse and fine gold within each sample.

    The firm believes the Dimocks Main Shale is large enough to potentially host a multi-million-ounce gold deposit at Creswick and as such has chosen to prioritise its resources to the project. ECR has said it will provide updates to the market as testing progresses, and will continue to develop its other gold projects in parallel with Creswick.

     Craig Brown, Chief Executive Officer commented: “I am extremely pleased with the professionalism of the Company’s technical team in devising the structured approach to bag testing that has been developed. Creswick is a unique project and the assessment of in-situ gold mineralisation requires bespoke project management and technical application.

    I am delighted that our first metal detecting of bags has already highlighted metal content, which we expect is reflective of nugget gold mineralisation as samples from depth are unlikely to contain other detectable metals.

    Our internal modelling suggests the Dimocks Main Shale is large enough to potentially host a multi-million ounce gold deposit at Creswick and therefore ECR are allocating resources to this project in a prioritised manner whilst continuing to develop our other Australian gold projects in parallel.”

    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.

  • ECR Minerals (LSE:ECR) has uploaded a presentation to its website containing in-depth information about its latest gold project in Australia.

    The slides cover various aspects of the Windidda gold project, including its location, regional geology, gravity & magnetics, and its exploration potential. The presentation can be accessed on ECR’s websiteby clicking here or can be downloaded in PowerPoint formatby clicking here.

    Windidda spans c.1,600km2 of ground across nine exploration licences in the Yilgarn region of Western Australia. ECR submitted applications for the permits in early January to complement its existing gold exploration portfolio in Victoria, Australia.

    The area has been identified as a gold exploration opportunity because it has the potential to contain Archaean greenstones beneath shallow cover. Archaean greenstones host many of Western Australia and the world’s most prolific gold deposits.

    The under-cover greenstone gold exploration model has already been tested successfully by Greatland Gold at its nearby Ernest Giles project. Furthermore, ECR’s licence applications also cover a large proportion of an identified gravity-magnetic trend with known gold prospects along trend to the south.

    Previous exploration at Windidda has only targeted base metal and manganese deposit within cover sequences. ECR expects its target areas to be amenable to aircore drilling. It hopes this will enable it to make a rapid assessment of their potential for gold mineralisation.

    Craig Brown, chief executive at ECR Minerals, said: ‘ECR Minerals is building its strategic gold exploration portfolio at what the directors believe is a fascinating time in the gold industry, underlined by the acquisition of Goldcorp Inc. by Newmont Mining Corp. announced this week.

    ‘Larger companies within the sector are often in search of new gold discoveries to replace reserves as they are mined, potentially putting proactive junior gold explorers in a prime position should they be able to identify highly prospective territory, achieve a discovery and/or build strategic knowledge through exploration.

    ‘ECR has already identified a large, but early stage, gold system at its Creswick project in Victoria, Australia and is working to advance that project as rapidly as possible. The Windidda project diversifies ECR’s interests into Western Australia and the highly prospective Yilgarn Craton, which the directors believe is amply demonstrated by the presentation linked above. Following the financings completed in 2018, ECR is able to move forward confidently with new initiatives like the Windidda gold project.’

    Please click here to read our recent interview with Brown about the potential on offer at ECR’s Creswick project.

    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 performanceure performance

     

  • ECR minerals (LSE:ECR) announced it has secured strategic funding of £680k on Monday. The company states that together with existing cash, ECR now has sufficient working capital for operational plans until at least Q2 2020.

    In addition to the new shares being issued at 0.70p, participants in the fundraise will also receive a warrant for each share subscribed, exercisable at 1.125p within two years.  Directors, David Tang and Craig Brown have also subscribed for a total of £20k on the same terms.

    Chief Executive Officer, Craig Brown, commented: “I am pleased to announce this additional financing which adds to the money raised in July and considerably bolsters our balance sheet working capital at a key time for the ECR business.Market conditions in the resource sector have been challenging in the latter half of 2018, for companies of our size and we believe the ability to source additional financing at this time is a validation of our business model and plans. ECR is in a financially robust position and can now push ahead with exploration and development across the business. In this regard ECR has a portfolio of projects in Australia which have yielded highly positive exploration results during our 2018 work programmes and deserve a proactive exploration approach.”

    The funds raised will partly be used to expand exploration at the company’s gold projects in Victoria, Australia. Things appear to be hotting up in the region, and just recently mining giant Newmont applied for a license for a large area of ground in close proximity to licenses held by ECR. In fact, ECR is looking to increase its territory in the vicinity via its 100% owned operating vehicle Mercator Gold Australia Pty Limited. Earlier this month, Mercator submitted three new license applications to augment existing licenses related to the Bailieston/Moormbool gold project area just south and southwest of Newmont’s potential license. A fourth license application has been submitted to add to the ground in the Creswick project area that sits between two large gold producing areas.

    In its update Monday, ECR detailed some of the activities the placing will fund which include 4,000 metres of reverse circulation drilling at Blue Moon, Creswick and Black Cat prospects and 1,400 metres of scout drilling at the Avoca prospect.

    Brown adds: “We believe our gold interests in Victoria region in Australia have been validated by the large licence application submitted by Newmont Mining Pty Limited adjacent to our Bailieston and Moormbool projects. Moreover work at our Creswick project has revealed, through exploration mapping, a large gold system with exciting potential. 

    We have added additional ground with complementary licence applications recently announced, and we have more opportunities for new licences and new corporate activity to further bolster our business. The extent of our new opportunity pipeline is such that we are taking time to carefully select the primary opportunities.

    Notwithstanding challenging conditions of late and what we perceive to be a general retrenchment in activity across the resource sector due to funding limitations, shareholders in ECR can be assured that the Company is well financed and operationally active, and we look forward to updating shareholders in due course on our activities.”

    Author: Stuart Langelaan

    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 (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.

  • Back in January, ECR Minerals (LSE:ECR) announced that it had applied for 1,600km2of ground across nine licences prospective for gold mineralisation in Western Australia’s Yilgarn Craton. Since then, the firm has kicked off work in the area, which it has named the Windidda project, to establish whether it contains Archaean greenstones – formations that host many of the world’s most prolific gold deposits. Alongside chief executive Craig Brown, we look here at the potential that could be on offer at Windidda once ECR’s licences are granted.

    Leading gold jurisdiction

    As well as supporting its efforts to deliver a multi-million-ounce gold resource, establishing a Western Australian presence complements ECR’s existing and extensive gold exploration portfolio in Victoria. Like Victoria, Western Australia (WA) is a world-leading mining operating jurisdiction that boasts significant iron ore assets, such as BHP’s South Flank project and Fortescue Metals Group’s Eliwana development.

    After the slowdown at the start of this decade, a rapid increase in gold exploration, coupled with the development of international gold projects at the Boddington mine and the Kalgoorlie Superpit, has helped to reinvigorate WA’s economy in recent years. Indeed, the mining industry accounted for 30pc of the region’s gross state product in 2017/2018 as well as 92pc of its state income from merchandise exports in 2015/2016.

    Digging deeper, WA’s Yilgarn Craton, on which Windidda sits, is host to around 30pc of the world’s known gold reserves and has been explored for over a century. Thanks to its position as Australia’s premier mineral province, the area attracts more than half of the country’s mineral exploration expenditure and produces around two-thirds of all of its mined gold. Beyond gold, the area also contains some 20pc of the world’s nickel reserves, 80pc of its tantalum assets, and vast amounts of copper and zinc.

    Much of the Yilgarn Craton, and Western Australian for that matter, is made up of what are known as Archaean greenstone belts- formed during the early stage of earth’s development. Importantly, these formations – which can also be found in Eastern Canada and South Africa - often contain vast supplies of gold as well as other metals such as silver, copper, zinc, and lead.

    As well as both Boddington and the Kalgoorlie Superpit, Archean greenstone belts host significant gold deposits such as Kambalda, Mount Magnet, Laverton, and Wiluna. To put the sheer scale that these belts can offer into context, the Kalgoorlie Superpit is almost 4km long, 1.5km wide and 500-metre-deep, and can produce up to 800,000oz of gold per year.

    Greenstone potential? ECR taking a different approach

    Previous work at the Windidda project area has only targeted base metal and manganese deposits, but ECR plans to take a different approach. The firm will focus instead on the as-yet-untargeted gravity and magnetic anomalies that have already been interpreted to be hosted in greenstone units.

    Specifically, ECR plans to use aircore drilling across these areas to assess their potential for gold mineralisation as quickly as possible. Key to this approach is the fact that the firm expects the targets’ depth of cover to be shallow, meaning they should be amenable to low-cost aircore drilling.

    Given that all the greenstone gold deposits in Western Australia are associated with gravity anomalies, there is a lot of existing precedent for ECR’s approach. Notably, the under-cover greenstone gold exploration model has already been tested successfully by the company’s peer Greatland Gold (LSE:GGP) at its Ernest Giles project, which is also located in the Yilgarn Craton. Greatland believes that Ernest Giles could contain a gold discovery of more than 5MMoz.

    Given the Yilgarn Craton’s existing and historical prospectivity, Brown tells us he is highly excited by the opportunity offered by his organisation’s licence area:

    ‘We were fortunate to get the licences at the Yilgarn Craton, given the area’s excellent reputation. The permissions we have applied for currently have a layer of other rocks over the top of them, but, most importantly, underneath they have significant exposure to that same critical greenstone belt that our peers are utilising successfully. The idea is that we want to drill down through the upper layers into the greenstone, which is highly respected for mineralisation. There has been some geophysics completed in the past that boast very positive indications for our work.’

    Complementary work streams

    ECR’s work at Windidda began in April when the business commenced the processing and interpretation of airborne and ground geophysics. The company plans to determine structural trends within, and to the depth to, an already-interpreted, and buried Archaean greenstone belt at the project. This work should then be able to identify high profile drill targets that can be assessed quickly and cheaply through aircore drilling.

    Against the backdrop of this work, Brown tells us that securing a definitive licence to ensure Windidda’s future development will be the firm’s next big step at the asset. He adds that progress here is already advanced:

    ‘We applied to the licence on a first-come-first-serve basis. We are very excited by its prospectivity and have many plans in place to take it forward. The first, and most critical, stage is to ensure that we have the licencing for the area in place. Work here is advanced; we are negotiating and working with the locals and the government, and updates will be released in due course. I am truly excited by the potential of Windidda, and I believe that it will complement the work we are already completing rapidly at Victoria and support us on our way to discovering Australia’s next multi-million-ounce gold resource.’

     

     

    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.

     

     

  • Precious metals explorer ECR Minerals (LSE:ECR) jumped 13.8pc to a nine-month high of 0.98p on Tuesday after announcing that it had received a significant payment from the Australian government. The £4.3m firm said its subsidiary Mercator Gold has received a cash research and development refund of c.£171,000 under the R&D Tax Incentive from the Department of Industry, Innovation, and Science. The money relates to qualifying expenses incurred by Mercator in the year ended 30 June 2018.

    Furthermore, Mercator is entitled to submit another claim for the year ended 30 June 2019. Based on current, estimated qualifying expenditure, ECR believes its application for the current period will hit around £198,000, which it expects to receive in August. Elsewhere, ECR announced that Mercator has also carried forward corporate income tax losses of c.£35.5m in its tax return for the year ended 30 June 2018.

    ECR’s chief executive Craig Brown said the R&D refund would supplement its existing cash resources and be applied to its active gold exploration programmes in Australia.

    ‘We are grateful for the immense support offered by the Australian Government which we believe demonstrates the attractiveness of Australia as a destination for investment in exploration and development projects,’ he added. ‘As a result of Government support, the Company’s cash resources are bolstered, enabling it to maintain a considerable and active exploration programme.’

    The refund continues an active couple of weeks for ECR, which entered May at 0.7p a share. Last Wednesday, the company soared by 49.23pc after announced that its Creswick gold project in Victoria, Australia may be much more prospective than previously thought.

    To date, the firm has carried out 1,687m of RC drilling in 17 holes at Creswick targeting multiple quartz vein orientations within a 15km-long hard rock geological feature called the Dimocks Main Shale (DMS). More than one-third of its drilled area has encountered quartz, including a zone exceeding 60m in width - more than twice the 25m width expected. Meanwhile, the business has met gold in all of the holes it has drilled so far, with grades in nine holes ranging from 0.6g/t to a whopping 44.63g/t.

    Critically, a technical review of the programme and its assay results - which has nearly completed - has confirmed that the mineralisation is ‘nuggety’ in nature. The discovery that gold within the DMS is nuggety is also important because such a style of mineralisation can lead to understated assay results. This is because the chance that a gold nugget will be captured in a drilled meter decreases as the nugget increases in size. Likewise, only a small portion of each RC drilling sample bag is actually tested, meaning results could be understated if one or more large nugget is not included in the examined portion.

    That being said - as ECR pointed out - this could also lead to results being overstated if a large nugget is captured in the small tested portion that does not accurately represent the sample bag as a whole.

    To fix this issue, the business has resolved to complete gravity concentration tests on entire sample bags for all of its drilling to date. This new approach is already reaping rewards for the organisation, with a nugget being identified in a previously untested portion of a sample bag from hole CSR011. All-in-all, the whole bag has demonstrated gold grades of 11.8g/t from the new gravity concentration tests - some 528pc higher than the previous 1.88g/t assay result.

    The firm ended said it believes there is potential for a ‘very substantial gold deposit’ within the DMS, with Brown adding that the extensive footprint gold system at Creswick offers ‘transformational potential’.

    Author: Daniel Flynn

    The Author does not hold any 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.

  • Monday morning saw ECR Minerals (LSE:ECR) announce the imminent launch of a third drilling programme in Victoria, Australia. The firm has signed a contract for 450m of rotary air blast (RAB) drilling at the Black Cat gold prospect within its Bailieston gold project area. The work is expected to begin this month.

    RAB is a low-cost drilling method, which ECR says is particularly well suited to Black Cat. It adds that it expects the technique to gather geological information in an ‘efficient and cost-effective manner’.

    Black Cat is among the high priority targets identified by geophysical interpretation and targeting studies completed by Terra Resources at Victoria in late 2017. The prospect is located immediately south of ground recently applied for by resources giant Newmont Exploration.

    The site is yet to be drilled but contains 220m of historical workings along three known lines of quartz reef. This holds strong gold-in-soil anomalism that indicates unworked reefs could remain at depth. Meanwhile, rock chip sampling of quartz-poor material suggests the potential for disseminated gold, with grades of up to 11.3g/t of the precious metal.

    ECR chief executive Craig Brown said that Black Cat is located at the ‘epicentre’ of the current gold exploration boom in Victoria. He highlighted the prospect’s proximity to the successful Fosterville mine owned by Kirkland Lake Gold.

    ‘This point is underlined by the arrival of Newmont Exploration in the district with an application for ground immediately to the north of the Black Cat prospect,’ he added. ‘Notwithstanding our active operations we are keen to maintain strict budgetary cost control and it is notable that the use of RAB drilling at Black Cat is a particularly low-cost method of exploration and will enable us to gather geological information in an efficient and cost-effective manner.’

    The news comes during a particularly busy period for ECR, with the business also preparing for two further drilling programmes in Victoria. At the end of last month, the firm announced that it had signed a contract for 4,000-6,000m of reverse circulation drilling in the region.

    ECR said its first target is its Creswick Gold Project, where exploration mapping has identified a large gold system within the Dimocks Main Shale (DMS). The DMS is a 15km-long hard rock geological feature and the source of much alluvial and deep lead gold. Drilling will target multiple quartz vein orientations identified within the DMS.

    Once this has completed, drilling will then move to the firm’s Blue Moon gold prospect, which is also located at Bailieston. Here, ECR will follow-up a significant near-surface gold intercept and evidence of a near-surface mineralised gold system. The drill target here is a sandstone that has been weathered heavily near the surface. However, ECR believes it may host higher grade gold mineralisation, including disseminated sulphides, at deeper levels.

    In Monday’s announcement, Brown said he had made final arrangements to begin the two drilling programmes in a recent trip to Australia.

    ‘The rig engaged for that programme is expected to start work at Creswick in the coming days and will be moved to Blue Moon after the Creswick holes are completed,’ he added. ‘The Company is now moving forward with three drill programmes to investigate gold mineralisation at multiple targets across its extensive gold focussed portfolio in the state of Victoria, Australia. ECR is now an active gold exploration business, aiming to deliver on its strategic objective to discover a multi-million ounce gold deposit.’

    Alongside its various drilling updates, last month also saw ECR announce that it had submitted applications for the nine exploration licences that make up the Windidda gold project in the Yilgarn region of Australia. The area has been identified as a gold exploration opportunity because it has the potential to contain Archaean greenstones beneath shallow cover. Archaean greenstones host many of Western Australia and the world’s most prolific gold deposits.

    The under-cover greenstone gold exploration model has already been tested successfully by Greatland Gold at its nearby Ernest Giles project. Furthermore, ECR’s licence applications also cover a large proportion of an identified gravity-magnetic trend with known gold prospects along trend to the south.

    Previous exploration at Windidda has only targeted base metal and manganese deposit within cover sequences. ECR expects its target areas to be amenable to aircore drilling. It hopes this will enable it to make a rapid assessment of their potential for gold mineralisation.

    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.

  • Historically, the discovery of gold nuggets in a region has triggered some of the most famous gold rushes globally. Prospectors have flocked to the area in the hope of making their fortunes, by simply pulling huge wealth from the land. Part of the attraction to hunting for gold nuggets is that they are relatively straightforward to process, from discovery to sale. Simply dig the ground, find the gold and sell it. That’s it. Even today, the promise of discovering valuable gold nuggets can act as a huge draw, bringing in thousands of diggers all hoping to make their fortunes. One such place is the Golden Triangle in the south-eastern Australian state of Victoria.

    Reported potentially to host significant amounts of undiscovered gold nuggets, the Golden Triangle is found to the north west of Melbourne. It stretches from the town of Wedderburn in the north to Castlemaine in the south-east and Avoca in the south-west.

    SOURCE: https://www.finders.com.au/gold-pages/central-victorian-goldfields/the-golden-triangle/

    Victoria has a long history of gold production, stretching back almost 200 years. At one point, in the mid-Nineteenth Century, it was the most prolific area in the world. Between 1851 and 1896, over 60m ounces of gold were discovered in Victoria. Its record for the most significant yield in a year was set in 1856 at 3,053,744 troy ounces, which triggered a major gold rush and established the state as one of Australia’s most prosperous. The city of Melbourne flourished and became the thriving metropolis it is now.

    In 1869 the largest gold nugget ever discovered was found in Victoria. Nicknamed the Welcome Stranger, it weighed 72kg and was 61cm long. Worth over £2.1m in modern money, this nugget was quickly broken up and sold.

    Despite such intense historical mining, Victoria is still proving to be a highly prospective region for gold explorers today. From individual panhandlers and enthusiastic metal detector owners to the major multinational firms, Victoria continues to attract a great deal of inward investment as everyone takes up the hunt for the precious yellow metal.

    The search for gold nuggets in the Golden Triangle continues to draw in speculators in large numbers. Despite many parts of the region having a reputation for being overworked, as recently as 2016 an amateur metal detector made one of this Century’s most significant nugget discoveries. Weighing 4.1kg, the 145-ounce nugget is worth about £145,000 at current spot prices. Found a mere 12 inches below the surface, this discovery has helped reinvigorate the Golden Triangle’s reputation for prospectivity and has once again helped stimulate investor interest in the region.

    A large part of the attraction to companies is that processing and selling gold nuggets is relatively easy. Rather than have to engage in much more expensive and labour intensive mining methods, those businesses that are fortunate enough to discover a haul of nuggets can pretty much sell them straight to market. This requires little in terms of processing and can provide almost instant cash flow.

    Across the world, most corporate involvement in gold nugget production stems from processing the tailings of other gold mining operations. However, in Victoria’s Golden Triangle, searching directly for gold nuggets can be an extremely profitable line of business, such is their prevalence and shallow depth. For small-cap operators, in particular, this model can make a great deal of sense. The promise of immediate cash flow generation from gold nugget discovery is intensely appealing for a company, which otherwise would be reliant on constant placings to survive.

    One firm on AIM that is hoping to benefit from this approach is ECR Minerals (LSE:ECR). In early May, the company’s stock soared 50% as it announced its Creswick gold project was much more prospective than initially expected.

    ECR had drilled 17 holes at Creswick, discovering gold in each of them. Much to its surprise it also found that much of the mineralisation was “nuggety” in nature. Subsequent test work confirmed these results and the company is currently conducting further “whole of bag” gravity concentration tests on all of its drilling samples to understand better the nature of this discovery.

    If these tests yield positive results, then this could be transformational for ECR. The company could well be sitting on a major gold nugget discovery, with all that implies for almost instant and substantial cash flow generation.

    Author: Ben Turney

    The Author holds 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.

     

  • In today's podcast we speak with Craig Brown, executive chairman of ECR Minerals (LSE:ECR). The company is mainly focussed on exploring for gold in the Victoria region of Australia, with a very active drilling campaign across a number of licenses. In this episode, Craig discusses recent drilling activities at the Creswick Gold Project, and the Blue Moon and Black Cat licenses.

    This interview was recorded on 16th May 2019.

    All opinions expressed are those of MiningMaven and the respective guests, unless otherwise stated and should not be construed as investment advice or a recommendation to buy shares in any featured Company. From time to time MiningMaven principals may take equity positions in companies featured. Listeners are advised to do their own extensive research before buying shares which, as with all small-cap exploration stocks, should be viewed as high risk. Investors should also seek the advice of a qualified investment adviser or stockbroker as they deem appropriate. MiningMaven.com is a trading division of Catalyst Information Services Limited. Registered in England no. 06537074 (Registered Office Address 3rd Floor Ivy Mill, Crown Street, Manchester, M35 9BG) #gold #mining #investing

    Author: Stuart Langelaan

    The Author does not hold any 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 Systems Ltd, the owner of MiningMaven.com, owns a position in the stock(s) and/or financial instrument(s) mentioned in the piece.

    Catalyst Information Systems 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 Systems 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.

  • Today’s guest on the MiningMaven podcast is Craig Brown, Chief Executive Officer of ECR Minerals (LSE:ECR). The company is primarily focussed on exploring for gold in the Victoria region of Australia. More specifically, ECR has recently intensified activities at its Creswick Project where it has identified a nuggetty gold system. Craig discusses the ramping up of sampling and testing at Creswick as well as the appointment of Keith Whitehouse, a Resource Geologist with 40 years of experience in the sector.

    This interview was recorded on 24th June 2019.

    All opinions expressed are those of MiningMaven and the respective guests, unless otherwise stated and should not be construed as investment advice or a recommendation to buy shares in any featured Company. From time to time MiningMaven principals may take equity positions in companies featured. Listeners are advised to do their own extensive research before buying shares which, as with all small cap exploration stocks, should be viewed as high risk. Investors should also seek the advice of a qualified investment adviser or stockbroker as they deem appropriate. MiningMaven.com is a trading division of Catalyst Information Services Limited. Registered in England no. 06537074 (Registered Office Address 3rd Floor Ivy Mill, Crown Street, Manchester, M35 9BG) #gold #mining #investing

    Author: Stuart Langelaan

    The Author does not hold any 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 Systems Ltd, the owner of MiningMaven.com, owns a position in the stock(s) and/or financial instrument(s) mentioned in the piece.

    Catalyst Information Systems 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 Systems 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.

  • In today's podcast, ECR Minerals Chief Executive Officer Craig Brown gives an overview of the company's drilling activities and discusses the benefits of operating in Australia. ECR currently has two ongoing drilling campaigns across three prospects in the highly prospective Victoria region. Brown also explains the reasoning for its recent license acquisition in the Yilgarn region where its Windidda project is located and touches on his longer-term goals for the company.

    This interview was recorded on 13th February 2019.

    All opinions expressed are those of MiningMaven and the respective guests, unless otherwise stated and should not be construed as investment advice or a recommendation to buy shares in any featured Company. From time to time MiningMaven principals may take equity positions in companies featured. Listeners are advised to do their own extensive research before buying shares which, as with all small cap exploration stocks, should be viewed as high risk. Investors should also seek the advice of a qualified investment adviser or stockbroker as they deem appropriate. MiningMaven.com is a trading division of Catalyst Information Services Limited. Registered in England no. 06537074 (Registered Office Address 3rd Floor Ivy Mill, Crown Street, Manchester, M35 9BG) #gold #mining #investing

    Author: Stuart Langelaan

    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.