14th Mar 2019 13:16
LONDON (Alliance News) - ECR Minerals PLC on Thursday said it has secured gold assays in relation to the reverse circulation drilling programme recently completed at the Blue Moon prospect, located within the Bailieston project in Australia.
The precious metals exploration and development company said its Australian subsidiary Mercator Gold Australia Pty Ltd has a 100% stake in the Bailieston project.
ECR said it has received "significant" intersections from three out of twelve reverse circulation holes drilled by Mercator at the Moon prospect, with assay results for the remaining nine holes pending.
Assay results received for BBM007, BBM006 and BBM004 holes have shown both high grade intervals and significant widths of anomalous gold grades, ECR said.
These results from Blue Moon indicate that a high grade zone exists within the target sandstone host and further results and work will be required to understand any concentration of mineralisation within shoots.
"These results quantify the field geologists' assessment of visible gold at Blue Moon during drilling of BBM007 and provide great encouragement for the company and the Bailieston gold project," said ECR Chief Executive Craig Brown.
"The company awaits further results from drilling across Blue Moon, Creswick and Black Cat and will provide updates to the market as appropriate," added Brown.
ECR shares were trading 13% higher on Thursday at 0.93 pence each.
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