23rd Dec 2022 21:52
ECR Minerals PLC - Exploration and development company focusing on gold in Australia - Finds lithium-tantalum-niobium stream anomalies within the first round of results from a recent stream sediment sampling campaign undertaken at the Lolworth Range project in north Queensland, Australia. Says the first batch of results were encouraging. Says it is awaiting results from a further 212 stream sediment samples.
Chief Executive Officer Andrew Haythorpe says: "In our recent interview I stated how the early results from our 2022 Lolworth campaign were way in excess of my expectations. In addition to the visible gold reported across a number of samples, the fact that the first batch of stream samples contain significant levels of lithium, tantalum and niobium is significant for ECR as an exploration company, as it adds a new dimension to our shareholder and investor proposition. It is still early days, but this first set of sample results is an exciting development for our company...our board are excited by the potential for further discoveries across our projects in 2023."
Follows soil sampling results at Creswick in Victoria, Australia on Thursday, showing a potential new parallel gold system. Says the company is exploring a number of parallel-gold mineralisation trends that are believed to extend 10 kilometres south towards the Victorian town of Ballarat. Haythorpe adds: "Today's soil geochem results and the subsequent new gold system identified confirm beyond doubt that Creswick is host to a gold system that warrants an extended and detailed exploration campaign. We will continue to employ LIDAR Geochem across our Creswick tenements as we draw up a list of drill targets in 2023."
Current stock price: 0.96 pence
12-month change: down 22%
By Greg Rosenvinge, Alliance News reporter
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