ECR Minerals PLC has provided an update on its recent activities in Australia, specifically at the Creswick and Bailieston projects. The company reported a significant increase in gold grades from bulk sampling at the Kuboid Hill prospect in Creswick, with reportable results showing 3.05g/t Au and 2.53 g/t Au over 1 metre, upgraded from 0.76 and 0.37 g/t Au respectively. The techniques employed during the sampling give potential scope for a marked improvement in grades for the remaining "best hole" bulk samples from pan concentrate.
At the Bailieston Project, stream sampling was carried out at three areas with no known historical workings, yielding encouraging results, including the best results of 798 ppb Au and 712 ppb Au. The company believes there is merit in undertaking additional near-term follow-up exploration in these areas.
The company is funded for its planned activities in Victoria and Queensland in 2024. The recent activities at Creswick included a total of 1,032 metres of reverse circulation drilling at Kuboid Hill, with final results from bulk sampling for the first four of the 17 RC drill holes showing significant improvement in gold grades. The remaining samples for the final two drill holes at Kuboid Hill have revealed further mineralized zones, although neither reported intercepts above 1 g/t.
In addition to stream sampling, two small soil orientation surveys were completed on the north fringes of the HR3 goldfield area and the Cherry Tree South goldfield at the Bailieston Project. Both soil surveys show coincidental elevated arsenic and antimony. ECR is now re-analyzing the core from its earlier drilling at the HR3 prospect at Bailieston for antimony.
Mike Whitlow, Chief Operating Officer, expressed optimism about the results, stating, "Today's news points to further potential value at our Creswick gold assets." Adam Jones, Chief Geologist, also commented on the encouraging results from the Bailieston stream sampling survey, indicating that ground exploration above these streams is now merited.
The company's update reflects positive developments in its exploration and development activities, with promising results from both the Creswick and Bailieston projects, setting the stage for further exploration and potential value creation.