ECR Minerals plc has reported positive gold soil sampling results at the Lolworth Project in Queensland, Australia. The soil sampling, conducted at prospective locations in the central region of the project area, revealed promising findings. Notably, 41 samples returned results equal to or greater than 0.05 ppm Au at the 'Dagwood Prospect,' with 4 results exceeding 1.00 ppm Au. Additionally, 15 samples from the 'Gorge Creek Diggings' Prospect returned results greater than 0.05 ppm Au, with a best result of 16.85 ppm Au. The company remains fully funded for its planned operations in Queensland and Victoria in 2024.
The geochemical trends at the project have been interpreted to strike NNW at Gorge Creek Diggings, with further discoveries of nuggety gold identified further north along the strike of these soil grids, suggesting the source of gold is likely nearby. Soil sampling has now been expanded to include these prospective areas. At the Dagwood Prospect, three gold trends have been identified, guiding the next phase of mapping and rock chip sampling. The high-grade results in the soils are attributed to the coarse nature of some of the gold contained within the soil medium.
The company's field teams will soon commence stream sampling on the eastern side of the 1000 km² Project area, where regional geological mapping indicates the presence of significant pegmatitic intrusions. Previous work suggests that this eastern area features the same geological formations as the Oaky Creek region of the tenement, where stream sampling has previously detected niobium in concentrate samples. Adam Jones, Chief Geologist, expressed confidence in uncovering substantial value at Lolworth for ECR shareholders.
Overall, the positive gold soil sampling results at the Lolworth Project, along with the upcoming Niobium-REE sampling, indicate promising developments for ECR Minerals plc. The company's focus on gold exploration in Australia, particularly in Queensland, is supported by the encouraging findings and the ongoing exploration activities.