ECR Minerals (LON:ECR) has reported encouraging assays from the latest exploration at the Itogon gold project in northern Philippines.
The final quarter of 2014 saw two phases of channel and grab sampling - one underground in artisanal workings and one at surface, as well as sampling of ore from active artisanal workings.
Stephen Clayson, chief executive, said the results improved understanding of the mineralisation in the main prospect area.
"These include channel sampling intercepts of wide, low grade zones of gold mineralisation such as 18.0m at 1.02g/t [grams per tonne] gold in Balao Adit and 10.0m at 1.46g/t gold at MP-71, and narrower but high grade intercepts such as 5.0m at 10.20g/t gold, including 1.0m at 43.98g/t gold, in Charlie Adit," he said.
The highest grade muck (ore) sample obtained was 68.56g/t gold, the firm said.
ECR is the operator of Itogon and has the right to earn a 50% interest in the project.
The firm is expected to start drilling in the main prospect area on or about January 15.
Shares are unchanged at 0.19p.