(Alliance News) – ECR Minerals PLC said Monday that recent results from soil sampling at the Creswick project will improve the accuracy of drilling targets and can reduce operating costs.
ECR, an Australian gold-focused exploration and development company, owns 100% of the Creswick project in Victoria.
The sampling results include results for gold in 297 soil samples from Mills Reef Prospect, with the highest result being 0.68 ppm.
Among the highlights, a comparative study shows a close spatial relationship between results for gold and arsenic analysis. Further examinations, and the results of the rock chip assay, reveal new prospects for the place of exploration, shedding light on other potential sources of gold.
ECR believes that the close relationship between gold and arsenic can be used to select samples to be sent to the laboratory for gold analysis, thus reducing operating costs.
Soil sampling work continues backfilling along the lateral areas that have the best soil sampling results. The ECR has also completed preliminary soil sampling at the northern end of a claim at Quartz Hill.
Managing Director Andrew Haythorpe said the findings “continue to paint a picture of mineralization in the area – improving the accuracy of potential new drilling targets in the future”.
“I look forward to presenting the rest of the sampling results, as well as preliminary results from the diamond drilling campaign,” added Heythorpe.
The announcement was reviewed by geologist Adam Jones, ECR’s technical director of exploration.
Shares of ECR were down 9.6% on Monday afternoon in London, trading at 0.52p.
By Emma Curzon, Alliance News correspondent
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