Further Gold, Lithium, Tantalum and Niobium Samples Identified at Lolworth Range Project, Queensland

Further Gold, Lithium, Tantalum and Niobium Samples Identified at Lolworth Range Project, Queensland

ECR Minerals plc

 

ECR MINERALS plc

(“ECR Minerals”, “ECR” or the “Company”)

Further Gold, Lithium, Tantalum and Niobium Samples Identified at Lolworth Range Project, Queensland

ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce further progress and new results for gold, Lithium, Tantalum and Niobium from the recently completed stream sampling campaign at the Lolworth Range project, North Queensland, Australia.

ECR Minerals plc has 100% ownership of three exploration tenements (EPM27901, EPM27902 and EPM27903), which covers the Lolworth Range, located 120km west of the famous gold district of Charters Towers. The project is being explored under ECR’s Australian wholly owned subsidiary Lux Exploration Pty Ltd (“LUX”).

HIGHLIGHTS

  • Results from 144 additional stream sediment samples have been received.
  • 19 out of 144 samples show gold values greater than 1 ppm Au, with a best result of 51 ppm Au.
  • 35% of the 144 samples show visible gold in heavy pan concentrates.
  • Lithium, Tantalum and Niobium confirmed in streams that drain the hills over a 10km trend from Gorge Creek to Oak Creek.
  • Results from 33 regional rock chips reveal anomalous silver at the Uncle Terry’s Prospect. Two rock chips from outcrop in the Flaggy Creek drainage show gold results including 4.73 g/t Au.

ECR CEO Andrew Haythorpe commented: “On behalf of the board, we are pleased to see our Lolworth asset really starting to take shape. With further examples of visible gold in 35% of samples and the presence of Lithium, Tantalum and Niobium over a 10km trend, there is a genuine sense that Lolworth could be developing into a key asset for ECR. The rock chip samples containing gold from the Uncle Terry prospect adds further credence to this view.”

“There is so much more to come from ECR’s asset portfolio in 2023, and I look forward to reporting results and campaign developments to you as they occur.

Plan of the Lolworth tenements showing all gold results to date are shown in Figure 1 below:

Figure 1: https://www.ecrminerals.com/images/2023/Fig1_230130.png

Inserts A and Insert B relating to Figure 2 below:

Figure 2-Insert A: https://www.ecrminerals.com/images/2023/Fig2-InsertA_230130.png

Figure 2-Insert B: https://www.ecrminerals.com/images/2023/Fig2-InsertB_230130.png

Plan showing the Lithium, Tantalum and Niobium stream sampling across the Lolworth tenements shown in Figure 3 below:

Figure 3: https://www.ecrminerals.com/images/2023/Fig3_230130.png

Results for reported stream samples and rock chips are listed in Appendix One at end of this announcement.

STREAM SAMPLING PROGRAMME - BACKGROUND

A total of 347 stream sediment samples were completed at the Lolworth Range project between September and December 2022, and to date, ECR has received a total of 269 of 347 samples back from the lab. All samples are derived from pan concentrated stream sediment extracted from numerous traps at pre-determined planned sites and processed at the ALS Laboratory Perth. 33 elements were analysed utilising method ME-ICP61, which invariably returns a comprehensive digest that unlocks most elements of interest.

ECR pegged the Lolworth Range after initial research revealed that historic stream sediment sampling undertaken in 1987-1988 showed visible gold. No follow up work was undertaken to search for gold, and to date no exploration work has been undertaken in the region for critical minerals such as Lithium. Given the levels of Lithium, Tantalum and Niobium that sampling has already uncovered, the Board believes there are clear opportunities for further discoveries. Currently ground work at the project is at a stand-still due to the tropical wet season.

GOLD RESULTS AND TRENDS

New results show additional gold values in stream sediments with values present up to 51 ppm Au, also supported by visible gold present in 35% of pan samples. Most of the 144 new results were follow-up samples from the initial results taken from sites within Gorge Creek, Reedy Creek, Flaggy Creek and Oak Creek drainages (see Figure 1 above).

LITHIUM AND TANTALUM-NIOBIUM TRENDS

ECR recently demonstrated the presence of Lithium, Tantalum and Niobium in the streams at Gorge Creek and the Upper Glen Creek-Oak Creek area (see RNS dated 23rd December 2022 here). These results are further enhanced by the high levels of Lithium, Tantalum and Niobium announced today (see Figure 3 above). The results show that Lithium is contained within the Gorge Creek drainage area, while the presence of Tantalum and Niobium has been identified along a line approximately 10km in length trending north from Gorge Creek to Oak Creek. No Lithium, Tantalum or Niobium has been detected in any other drainage areas sampled to date within the EPM licences.

ROCK CHIPS AND UNCLE TERRY’S PROSPECT

The field team have been encouraged to take rock chips from any outcrops encountered within the planned stream sample sites. Two encouraging results of 4.73 g/t Au and 0.14 g/t Au were taken from an outcrop in the Flaggy Creek area. The strike area for this outcrop is estimated to cover a distance of 180m in a NE direction, added to which streams immediately along this strike trend have also reported highly anomalous gold ( See Figure 2-Insert A above).

ECR Technical Director Adam Jones visited the project in November 2022 and at a quartz outcrop known as Uncle Terry’s, he and the team extracted a total of 28 rock chips over a strike length of 150m. Results from the oxidised quartz outcrop, estimated at widths of 3m contained predominantly silver (Ag). The silver is present at the centre of the outcrop, and while no high grades were present, a best result of 7.3 g/t Ag was recorded (see Figure 2-Insert B above). Similar oxidised outcrops were observed in patches to the SW and NE of the main outcrop. No further work has been undertaken since the visit due to the wet weather.

NEXT STEPS

The Board are satisfied that these results now show the main areas of focus for Gold, Lithium, Tantalum and Niobium (Au, Li-Ta-Nb). Once the wet season passes, the field team will return and complete further stream sampling at the head waters of the most promising drainage sites. Work is expected to continue up onto the ridgelines this year where soil sampling will begin. Mapping and sampling of outcrops will also be undertaken within the gold and Li-Ta-Nb areas as outlined in Figure 1 above. The Board is hopeful that this work will identify a series of potential drill targets by the close of the 2023 field season.

REVIEW OF ANNOUNCEMENT BY QUALIFIED PERSON

This announcement has been reviewed by Adam Jones, Technical Director of Exploration 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) 20 7929 1010

 

David Tang, Non-Executive Chairman

Andrew Haythorpe, CEO

 

 

 

 

 

 

 

Email:

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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). MGA is currently drilling at the Bailieston Blue Moon Project (EL5433) and undertaking geochemical exploration on the Creswick (EL6148) project and has an experienced exploration team with significant local knowledge in the Victoria Goldfields and wider region.

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 Queensland, Australia.

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), Mercator Gold Australia Pty Limited 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.

ECR holds a 70% interest in the Danglay gold project; an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines, which has a 43-101 compliant resource. ECR also holds a royalty on the SLM gold project in La Rioja Province, Argentina and can potentially receive up to US$2.7 million in aggregate across all licences.

APPENDIX ONE

TABLE ONE: All locations for Gold, Lithium, Tantalum and Niobium results (ppm) from 144 recently received stream samples, Lolworth Range Project. (Locations reported as GDA94-Zone 55 grid).

SAMPLEID

EASTING

NORTHING

Au (ppm)

Li (ppm)

Ta (ppm)

Nb (ppm)

LWSS002

312747.24

7755208.3

2.700

10

290

535

LWSS003

312937.59

7755402.2

5.560

10

100

281

LWSS005

312327.78

7755159

4.460

10

310

1100

LWSS006

312412.38

7755391.6

0.001

10

200

831

LWSS007

313973.91

7756435

0.128

10

890

2000

LWSS008

313632

7756554.8

0.062

20

850

2000

LWSS009

313998.59

7756294

2.920

10

260

828

LWSS011

312426.49

7755878.1

0.001

10

230

1000

LWSS017

314911.54

7757848.5

0.001

10

280

988

LWSS018

315362.72

7758225.6

0.002

10

100

390

LWSS024

311005.94

7755832.2

4.350

10

820

2000

LWSS025

310241.04

7755962.7

0.001

10

80

308

LWSS026

309229.4

7755758.2

0.001

10

100

532

LWSS027

309010.85

7756664.1

0.014

10

150

621

LWSS028

308531.47

7756893.2

0.001

10

50

177

LWSS029

308644.26

7757880.2

0.021

10

60

156

LWSS030

314435.68

7761708.3

1.525

10

20

114

LWSS031

313505.1

7761521.4

0.001

10

30

189

LWSS032

312930.55

7760555.6

0.001

10

40

267

LWSS033

312511.08

7760950.4

10.000

10

230

707

LWSS034

312592.15

7759988.1

0.238

10

60

162

LWSS035

312289.01

7758958.8

0.497

10

280

735

LWSS036

312623.88

7758786.1

0.001

10

410

1690

LWSS037

312955.22

7759420.6

0.014

10

180

367

LWSS038

307741.5

7762811.4

1.575

10

70

158

LWSS039

308353.07

7763269.7

0.004

10

20

90

LWSS040

307857.83

7762247.5

0.001

10

20

75

LWSS041

308305.87

7759205.6

0.001

10

50

164

LWSS042

309317.51

7759544

0.001

10

30

85

LWSS043

308351.7

7760217.2

0.003

10

10

49

LWSS044

308076.75

7760136.1

0.007

10

20

104

LWSS045

309500.82

7761775.2

0.004

10

150

190

LWSS046

308933.31

7761285.3

0.015

10

10

35

LWSS059

304287.48

7757982.4

8.790

10

10

65

LWSS060

304308.63

7758525.3

6.120

10

20

66

LWSS061

304788.01

7757555.9

0.002

10

20

91

LWSS062

303625.3

7758773.7

0.407

10

10

61

LWSS063

304208.67

7762927.8

0.002

10

20

83

LWSS064

304046.52

7763000

0.001

10

20

88

LWSS065

304156.68

7763678.6

0.007

10

10

38

LWSS066

303467.56

7762036

0.001

10

10

75

LWSS067

303730.55

7757076.5

0.001

10

30

44

LWSS068

304322.73

7756227

0.001

10

80

298

LWSS069

304957.21

7755127.3

0.001

10

20

103

LWSS070

304858.52

7754975.7

0.001

10

60

156

LWSS071

303568.4

7756858

0.001

10

170

494

LWSS072

305739.74

7759526.3

1.815

10

10

16

LWSS073

305588.17

7759420.6

0.001

10

40

136

LWSS074

305965.33

7758186.9

0.007

10

40

19

LWSS075

306233.23

7758179.8

0.001

10

10

16

LWSS076

305789.09

7757682.8

0.001

10

10

45

LWSS126

318994.25

7750560.8

0.001

10

50

180

LWSS127

319043.6

7750571.3

0.002

10

80

252

LWSS128

319117.62

7750500.8

0.001

10

20

41

LWSS129

318157.09

7749845.2

0.001

10

130

360

LWSS130

318493.72

7749524.4

0.001

10

10

9

LWSS131

317663.6

7749683.1

0.001

10

10

14

LWSS132

317727.06

7749845.2

0.001

10

60

90

LWSS133

319297.39

7748925.2

0.001

10

10

14

LWSS134

319463.06

7747472.9

0.003

10

10

22

LWSS135

319233.94

7747480

0.001

10

10

16

LWSS136

319614.64

7747892.4

0.001

20

60

181

LWSS137

319634.02

7747183.9

0.699

10

10

27

LWSS138

319811.15

7746709.8

0.001

10

10

19

LWSS139

318826.82

7747095.8

0.001

30

10

5

LWSS140

317667.12

7747846.6

0.001

40

10

7

LWSS141

317720.01

7748177.9

0.001

30

10

9

LWSS142

317113.72

7746849

0.028

20

10

5

LWSS143

318305.13

7746330.9

0.001

20

10

5

LWSS144

318636.47

7746489.5

0.001

30

10

5

LWSS145

317649.5

7747472.9

0.001

40

10

5

LWSS146

317512.04

7747321.4

0.001

20

10

5

LWSS165

310545.95

7752670.4

0.001

10

10

22

LWSS166

311293.23

7752293.2

0.001

10

10

8

LWSS167

311892.46

7751648.2

0.003

20

10

7

LWSS168

310653.46

7753033.5

0.001

10

10

40

LWSS169

311164.57

7753347.2

0.001

10

10

52

LWSS170

310910.77

7753660.9

0.001

10

10

10

LWSS171

310501.88

7753153.3

0.005

20

50

242

LWSS172

310359.12

7752184

51.000

10

10

19

LWSS173

310655.21

7751503.7

0.001

10

10

10

LWSS174

310380.27

7751849.1

0.113

10

10

9

LWSS175

310204.03

7752504.7

0.001

20

10

51

LWSS176

310482.5

7750900.9

0.021

10

10

8

LWSS177

310309.78

7750971.4

0.001

10

10

5

LWSS178

309294.61

7751782.1

0.014

10

10

46

LWSS179

309326.33

7751620

0.002

10

10

16

LWSS180

309340.43

7750982

6.060

20

10

5

LWSS181

308173.69

7751507.2

0.221

20

50

31

LWSS182

308244.19

7751894.9

0.005

20

30

105

LWSS183

307754.23

7751556.5

0.003

20

50

84

LWSS191

322499.77

7748489.9

0.001

10

110

247

LWSS192

322390.49

7748391.2

0.001

10

20

38

LWSS193

321748.96

7748278.4

0.020

10

60

145

LWSS194

322390.49

7748826.5

0.001

20

20

43

LWSS195

320867.74

7748768.3

0.001

10

10

9

LWSS196

321135.63

7749046.8

0.001

10

10

25

LWSS197

307740.13

7750231.2

0.001

30

10

12

LWSS200

307863.5

7750492

0.088

20

30

32

LWSS216

314069.55

7754181.5

0.001

10

30

172

LWSS217

315247.01

7754773.5

0.001

10

50

109

LWSS218

313907.49

7755041.4

0.001

10

10

44

LWSS219

315538.07

7753979.7

0.001

10

80

290

LWSS220

315653.83

7753606

0.002

10

20

94

LWSS221

313947.19

7756453.7

1.010

20

1200

2000

LWSS222

314370.53

7757282.2

0.001

10

280

1085

LWSS223

314028.21

7757108.6

0.001

10

410

1515

LWSS224

314919.58

7756724.9

0.001

10

30

117

LWSS225

314686.4

7756212.3

2.820

10

330

1015

LWSS226

315496.73

7756349.5

0.577

10

330

865

LWSS235

298514.54

7760139.9

0.018

10

10

75

LWSS236

298383.9

7759655.3

0.001

10

10

45

LWSS237

299090.05

7760824.5

0.156

10

10

19

LWSS238

299220.69

7760730.3

0.993

10

10

30

LWSS239

299250.46

7761256.1

0.003

10

10

8

LWSS240

299515.05

7761087.5

2.190

10

40

129

LWSS241

300227.82

7760789.8

0.001

10

50

195

LWSS242

300214.59

7760624.4

0.003

10

20

80

LWSS243

299033.83

7757950.3

0.001

10

10

39

LWSS244

299020.59

7757680.8

0.001

10

10

18

LWSS245

298364.06

7757765.1

0.002

10

10

34

LWSS246

300376.65

7759571

0.010

10

10

67

LWSS248

314011.72

7756160.3

5.690

10

590

2000

LWSS249

314001.57

7755832.4

0.001

10

120

374

LWSS250

298718.64

7760863.7

0.005

10

10

54

LWSS256

312865.3

7752516.4

2.050

10

10

68

LWSS257

313150.63

7752351.1

0.002

10

10

21

LWSS258

313238.12

7752794.8

0.001

10

30

128

LWSS268

315810.55

7746062.2

0.001

20

10

6

LWSS269

315373.85

7746196.7

0.001

30

10

6

LWSS270

315357.23

7745927.5

0.001

20

10

5

LWSS271

316180.21

7745816.7

0.001

20

10

6

LWSS272

316350.1

7745452.2

0.001

20

10

10

LWSS273

318476.24

7745781.9

0.003

20

10

10

LWSS274

291324.1

7763871

0.001

10

10

5

LWSS275

293297.44

7762831

0.001

10

10

24

LWSS276

293082.03

7763166.4

0.001

10

10

5

LWSS277

290776.11

7761699.2

0.001

10

10

23

LWSS278

291905.83

7761305.9

0.001

10

10

31

LWSS279

291501.85

7759715.4

1.205

10

10

29

LWSS280

291369.2

7759845.2

0.001

20

10

62

LWSS281

289171.01

7765431.9

0.001

10

10

5

LWSS283

286679.37

7764836.9

0.001

10

10

5

LWSS284

286501.44

7765111.2

0.001

10

10

5

TABLE TWO: All locations of rock chip results (g/t). (Locations reported as GDA94-Zone 55 grid).

SAMPLEID

EASTING

NORTHING

Comment

Au (ppm)

Ag (ppm)

Pb (ppm)

Zn (ppm)

As (ppm)

LWC002

298771

7760765

Qtz Sub-Crop Flaggy Creek (along strike)

0.14

5.50

72

7

5

LWC003

298694

7760685

Qtz Sub-Crop Flaggy Creek (along strike)

4.73

4.50

542

21

5

LWC004

319550

7746711

 

0.04

0.50

3

7

5

LWC005

308944

7756137

Qtz Sub-Crop

0.01

1.00

152

8

132

LWC006

312627

7759835

Altered Granite-Outcrop

0.00

0.50

26

24

10

LWC010

312397.2

7752081.2

Uncle Terry Prospect

0.01

0.50

18

14

263

LWC011

312395.2

7752078.3

Uncle Terry Prospect

0.01

0.50

18

15

68

LWC012

312393.6

7752074.7

Uncle Terry Prospect

0.01

0.50

12

11

103

LWC013

312387.5

7752066.6

Uncle Terry Prospect

0.03

0.90

124

37

652

LWC014

312384.2

7752063

Uncle Terry Prospect

0.04

0.50

37

19

727

LWC015

312376.2

7752052.9

Uncle Terry Prospect

0.00

0.50

2

2

159

LWC016

312372

7752041.1

Uncle Terry Prospect

0.01

0.50

2

3

13

LWC017

312366.3

7752029

Uncle Terry Prospect

0.00

0.50

2

2

21

LWC018

312355.1

7752022.8

Uncle Terry Prospect

0.01

0.50

2

2

8

LWC019

312354.5

7752022.7

Uncle Terry Prospect

0.01

0.50

2

2

5

LWC020

312352.9

7752029

Uncle Terry Prospect

0.10

1.80

209

86

722

LWC021

312348.7

7752028.5

Uncle Terry Prospect

0.08

0.50

13

11

646

LWC022

312344

7752024.4

Uncle Terry Prospect

0.06

0.50

59

17

1035

LWC023

312346.8

7752024.8

Uncle Terry Prospect

0.04

0.60

39

11

576

LWC024

312342

7752019.4

Uncle Terry Prospect

0.05

2.40

276

6

544

LWC025

312338.6

7752012.7

Uncle Terry Prospect

0.06

7.30

888

14

1305

LWC026

312328.8

7752009.2

Uncle Terry Prospect

0.05

3.60

489

7

829

LWC027

312420.4

7752160.3

Uncle Terry Prospect

0.01

0.50

5

2

10

LWC028

312419.3

7752123.5

Uncle Terry Prospect

0.00

0.50

7

3

9

LWC029

312416.8

7752118.8

Uncle Terry Prospect

0.00

0.50

7

2

13

LWC030

312356.6

7752333.7

Uncle Terry Prospect

0.01

0.50

9

9

45

LWC031

312142.9

7751991.6

Uncle Terry Prospect

0.01

0.50

4

9

5

LWC032

312150.1

7752003

Uncle Terry Prospect

0.02

0.50

4

10

6

LWC033

312150.3

7752005.2

Uncle Terry Prospect

0.01

0.50

17

6

5

LWC034

312144.1

7751988.9

Uncle Terry Prospect

0.01

0.50

3

4

5

LWC035

312142.1

7751977.4

Uncle Terry Prospect

0.01

0.50

3

3

5

LWC036

312142.9

7751991.6

Duplicate of LWC031

0.00

0.50

4

11

5

LWC037

312410.2

7751152.8

Uncle Terry Prospect

0.01

0.50

2

2

5

 

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ECR Minerals (ECR)
UK 100

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