Operational Update

ECR Minerals

14/04/2025 09:00

RNS Number : 8768E

ECR Minerals PLC

14 April 2025

 

14 April 2025

 

ECR MINERALS plc

 

("ECR Minerals", "ECR" or the "Company")

 

Antimony drilling set to commence at the Bailieston Project

and

update on recent field work  

 

ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, provides the following update on its ongoing geological investigations targeting principally antimony at the HR3 prospect within the Bailieston Project area in Central Victoria, Australia (the "Bailieston Project").

 

HIGHLIGHTS

 

●   Proposed antimony focused diamond drilling programme to commence this month at the Bailieston Project

●     Historical soil sampling has identified four in-situ antimony anomalies at the Bailieston Project

●    72 follow-up rock chip samples were recently collected from around these anomalies; 34 samples returned antimony grades between 0.25% and 1.91%

●     42 rock chips also returned gold grades above 1 g/t Au, with channel sampling highlights including 0.3m @ 41.3 g/t Au

 

Bailieston gold and antimony project

 

Strong antimony and gold prices have sparked renewed exploration in Victoria's Costerfield Bailieston-Nagambie corridor. On 3 July 2024, ECR's Bailieston Project sampling uncovered high-grade antimony, with hole BH3DD019 hitting 32% Sb over 0.3m and BH3DD027 yielding 1.2% Sb over 0.1m. ECR is now finalising plans for a follow-up diamond drilling programme to investigate these targets further.

 

Recent field work (See Table 1)

 

ECR's geology team has recently reviewed historical portable x-ray fluorescence ("PXRF") data from soil sampling campaigns conducted at the Bailieston Project between 2020 and 2022. Statistical analysis defined eight sub-populations of increasing antimony values. These were then spatially correlated with known mineralised vein systems, revealing four key antimony anomalies along the Hardup, Hardup South, Scanlons and Scoulars veins.

 

To verify the soil sampling results 72 rock chip samples were collected from oxidised, veined and sheared material within historical trenches and pits. Seven of these were in-situ channel samples taken across exposed mineralised structures.

 

Summary of key rock chip sample results include:

●     0.3m @ 41.3 g/t Au, 0.89% Sb

●     0.5m @ 36.1 g/t Au, 0.48% Sb

●     0.31m @ 10.6 g/t Au, 1.13% Sb

●     0.8m @ 6.51 g/t Au, 0.19% Sb

 

These samples were all taken from the Hardup Reef, part of a north-northeast trending vein system that has seen limited modern exploration. Given the current commodity price environment, these high-grade zones represent compelling drill targets.

 

Drill targets (See Figure 1)

 

ECR has completed internal and external structural interpretations of prior diamond drilling campaigns (2021-2022), focusing on the standout antimony intercept in hole BH3DD019. The results suggest that the main Maori-Bailieston anticline has undergone eastward rollover at a key inflection point, creating a zone of structural dilation-or 'bulge' -that may host significant antimony and gold mineralisation.

 

Four diamond drillholes are now budgeted to test this target zone, with planned depths ranging between 100m to 180m. Previous drilling in this area yielded composite intercepts including:

 

●     1m @ 4.96 g/t Au (hole BH3DD019)

●     1m @ 16.16 g/t Au (hole BH3DD034)

 

The diamond core drill rig is expected to mobilise to site within the next two weeks.

 

Mike Whitlow, ECR's Managing Director, said: "We're seeing a compelling convergence of data pointing to a potential structurally controlled zone of antimony and gold mineralisation at the Bailieston Project. With rock chip and soil anomalies aligning with high-grade historical intercepts, our upcoming drill programme is designed to test this 'bulge' zone directly. This is the kind of focused, high-impact exploration that we believe can potentially unlock real value for shareholders-especially in a market where both gold and antimony prices are on the rise.''

Figure 1: Plan of HR3, Bailieston Project

 

Table 1: Best results (Au/Sb) from rock chips taken at HR3, Bailieston Project in April 2025.

*Locations in GDA94 Zone 55

Antimony results (=> 0.25 % Sb)

SAMPLE
EAST
NORTH
Sb %
VEIN/REEF
BH3R113
326475.4
5931404.0
1.91
SCOULARS
BH3R100
326517.6
5931334.7
1.14
SCOULARS
BH3R089
326671.7
5931239.5
1.13
HARD UP SOUTH
BH3R102
326517.8
5931343.6
1.11
SCOULARS
BH3R064
326703.8
5931382.7
0.89
HARD UP
BH3R106
326520.8
5931327.0
0.87
SCOULARS
BH3R101
326522.1
5931342.0
0.84
SCOULARS
BH3R111
326480.4
5931404.6
0.83
SCOULARS
BH3R080
326765.2
5931082.3
0.82
SCANLONS
BH3R098
326522.2
5931334.2
0.75
SCOULARS
BH3R099
326521.3
5931332.7
0.75
SCOULARS
BH3R105
326507.4
5931326.1
0.71
SCOULARS
BH3R108
326512.8
5931312.5
0.68
SCOULARS
BH3R110
326474.5
5931412.3
0.66
SCOULARS
BH3R091
326667.3
5931225.4
0.61
HARD UP SOUTH
BH3R090
326671.1
5931229.1
0.55
HARD UP SOUTH
BH3R065
326703.8
5931384.9
0.48
HARD UP
BH3R077
326675.5
5930912.2
0.46
UNKNOWN STH
BH3R079
326752.8
5931063.1
0.45
SCANLONS
BH3R114
326471.4
5931403.6
0.41
SCOULARS
BH3R069
326702.0
5931377.3
0.39
HARD UP
BH3R088
326767.2
5931092.0
0.39
SCANLONS
BH3R107
326515.8
5931313.3
0.39
SCOULARS
BH3R109
326470.2
5931413.6
0.39
SCOULARS
BH3R066
326703.1
5931383.7
0.38
HARD UP
BH3R083
326765.3
5931087.1
0.37
SCANLONS
BH3R097
326527.2
5931331.5
0.35
SCOULARS
BH3R115
326470.0
5931404.5
0.35
SCOULARS
BH3R103
326514.5
5931331.1
0.34
SCOULARS
BH3R112
326469.3
5931424.2
0.34
SCOULARS
BH3R068
326702.4
5931376.9
0.32
HARD UP
BH3R084
326771.3
5931087.2
0.31
SCANLONS
BH3R059
326704.8
5931390.4
0.25
HARD UP
BH3R063
326704.1
5931382.6
0.25
HARD UP

 

Gold results (>  1 g/t Au)

SAMPLE
EAST
NORTH
AU g/t
VEIN/REEF
BH3R106
326520.8
5931327.0
43.70
SCOULARS
BH3R064
326703.8
5931382.7
41.30
HARD UP
BH3R121
326625.7
5931591.5
40.20
UNKNOWN NTH
BH3R065
326703.8
5931384.9
36.10
HARD UP
BH3R113
326475.4
5931404.0
25.40
SCOULARS
BH3R070
326699.1
5931371.6
20.70
HARD UP
BH3R099
326521.3
5931332.7
15.80
SCOULARS
BH3R103
326514.5
5931331.1
14.80
SCOULARS
BH3R105
326507.4
5931326.1
14.80
SCOULARS
BH3R097
326527.2
5931331.5
12.60
SCOULARS
BH3R068
326702.4
5931376.9
10.70
HARD UP
BH3R089
326671.7
5931239.5
10.60
HARD UP SOUTH
BH3R100
326517.6
5931334.7
10.30
SCOULARS
BH3R091
326667.3
5931225.4
9.81
HARD UP SOUTH
BH3R090
326671.1
5931229.1
9.39
HARD UP SOUTH
BH3R102
326517.8
5931343.6
9.03
SCOULARS
BH3R079
326752.8
5931063.1
8.35
SCANLONS
BH3R098
326522.2
5931334.2
6.74
SCOULARS
BH3R092
326664.5
5931219.8
6.61
HARD UP SOUTH
BH3R107
326515.8
5931313.3
6.59
SCOULARS
BH3R060
326702.8
5931387.6
6.51
HARD UP
BH3R111
326480.4
5931404.6
5.79
SCOULARS
BH3R101
326522.1
5931342.0
5.71
SCOULARS
BH3R077
326675.5
5930912.2
5.05
UNKNOWN STH
BH3R080
326765.2
5931082.3
4.78
SCANLONS
BH3R110
326474.5
5931412.3
4.63
SCOULARS
BH3R104
326509.2
5931323.4
4.24
SCOULARS
BH3R108
326512.8
5931312.5
4.08
SCOULARS
BH3R084
326771.3
5931087.2
4.00
SCANLONS
BH3R067
326703.8
5931380.2
3.82
HARD UP
BH3R088
326767.2
5931092.0
3.56
SCANLONS
BH3R083
326765.3
5931087.1
3.32
SCANLONS
BH3R114
326471.4
5931403.6
3.08
SCOULARS
BH3R109
326470.2
5931413.6
2.82
SCOULARS
BH3R115
326470.0
5931404.5
2.71
SCOULARS
BH3R076
326672.8
5930907.7
1.99
UNKNOWN STH
BH3R120
326637.6
5931560.4
1.97
UNKNOWN NTH
BH3R082
326766.2
5931086.4
1.94
SCANLONS
BH3R061
326703.3
5931386.8
1.61
HARD UP
BH3R095
326702.7
5931242.8
1.59
HARD UP SOUTH
BH3R069
326702.0
5931377.3
1.53
HARD UP
BH3R112
326469.3
5931424.2
1.26
SCOULARS
BH3R066
326703.1
5931383.7
1.18
HARD UP
BH3R078
326754.2
5931064.3
1.07
SCANLONS
BH3R096
326704.2
5931245.8
1.06
HARD UP SOUTH

 

Review of announcement by a Qualified Person

 

This announcement has been reviewed by Adam Jones, Chief Geologist at ECR Minerals Plc. Adam Jones is a professional geologist and is a Member of the Australian Institute of Geoscientists (MAIG). He is a qualified person as that term is defined by the AIM Note for Mining, Oil and Gas Companies.

 

FOR FURTHER INFORMATION, PLEASE CONTACT:

 

ECR Minerals Plc
Tel: +44 (0) 1738 317 693
Nick Tulloch, Chairman
Andrew Scott, Director
Email:
info@ecrminerals.com
Website:www.ecrminerals.com
Allenby Capital Limited
Tel: +44 (0)3328 5656
Nominated Adviser
Nick Naylor / Alex Brearley / Vivek Bhardwaj
info@allenbycapital.com
Axis Capital Markets Limited
Tel: +44 (0)203 026 0320
Broker
Lewis Jones
SI Capital Ltd
Tel: +44 (0) 1483 413500
Broker
Nick Emerson
Brand Communications
Tel: +44 (0) 7976 431608
Public & Investor Relations
Alan Green


                                                               

ABOUT ECR MINERALS PLC

 

ECR Minerals is a mineral exploration and development company. ECR's wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd ("MGA") has 100% ownership of the Bailieston and Creswick gold projects in central Victoria, Australia, has six licence applications outstanding which includes one licence application lodged in eastern Victoria (Tambo gold project).

 

ECR also owns 100% of an Australian subsidiary LUX Exploration Pty Ltd ("LUX") which has three approved exploration permits covering 946 km2 over a relatively unexplored area in Lolworth Range, Queensland, Australia. The Company has also submitted a license application at Kondaparinga which is approximately 120km2 in area and located within the Hodgkinson Gold Province, 80km NW of Mareeba, North Queensland.

 

Following the sale of the Avoca, Moormbool and Timor gold projects in Victoria, Australia to Fosterville South Exploration Ltd (TSX-V: FSX) and the subsequent spin-out of the Avoca and Timor projects to Leviathan Gold Ltd (TSX-V: LVX), MGA has the right to receive up to A$2 million in payments subject to future resource estimation or production from projects sold to Fosterville South Exploration Limited. 

 

MGA also has approximately A$75 million of unutilised tax losses incurred during previous operations.

 

ECR is also in exclusive negotiations to acquire Maximus Minerals Ltd for £500,000 along with exercising that company's option over the Cat Key advanced gold project for C$600,000.  The consideration, if the transaction completes, will be settled in new ECR shares, issued at no less than 0.33 pence per share.

 

Glossary 

 

Au:
Gold
g/t:
Grammes per Tonne (Metric)
km:
Kilometres (Metric)
km²:
Kilometre squared (Metric)
M:
Metres (Metric)
PXRF
portable x-ray fluorescence
Sb:
Antimony
Sq:
Square (Metric)

 

 

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