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ECR Minerals boosted by high grades in rock chip samples from the Timor gold project

The area was previously mined and remains highly prospective

ECR Minerals PLC -
ECR is building a highly attractive gold portfolio in Australia


ECR Minerals PLC (LON:ECR) has hit high grades of gold in rock chip sampling at its Timor project in Australia.

Among the highlights were 22.6 grams per tonne of quartz vein material from the Shaw’s Reef main shaft waste dump, and 26.3 grams per tonne from the Anglo-Saxon main shaft.

The Timor gold project is one of five projects held by ECR in the Victorian Goldfields region, with three projects at Bailieston, Creswick and Timor now the subject of active exploration or project development operational activity.

“I am extremely pleased to announce the receipt of high-grade gold assays from the Shaw’s Reef and Anglo-Saxon Reef prospects, during a recent reconnaissance sampling program where assays of 22.6 g/t and 26.3 g/t Au were received, respectively,” said ECR chief executive Craig Brown.

“Both these samples are of vein quartz taken randomly from the main waste dumps created by the old underground operations of the late 1800s and early 1900s. Furthermore, the reconnaissance has discovered the Brilliant/Northumbria reef and its extensive gold workings, including an old open cut. This prospect area extends over a length of approximately 500 metres and is up to 80 metres wide and assays from 13 samples indicate widespread low-grade gold mineralisation.”

Eighty-four rock samples were collected from 19 prospects, with 47 of the samples being mineralised or anomalous at greater than 0.1 grams per tonne gold.

Historical records demonstrate that the Maryborough goldfield within the Timor licence area produced over 640,000 ounces of gold from hard-rock and alluvial sources, with 220,000 ounces mined from hard-rock operations at an average grade of 14 grams per tonne gold.

Quick facts: ECR Minerals PLC

Price: 1.3625 GBX

Market: AIM
Market Cap: £6.63 m

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