ECR MINERALS plc
(“ECR Minerals”, “ECR” or the “Company”)
US OTC: MTGDY
LONDON: 26 SEPTEMBER 2014 - ECR Minerals plc is pleased to announce positive assay results from phase 4 channel sampling at the Itogon epithermal gold project in Benguet Province, northern Philippines.
- Intercepts from phase 4 channel sampling at Itogon include, at surface, 28m averaging 3.11g/t gold (channel MP-52), 20m averaging 1.15g/t gold (channel MP-54) and 12m averaging 2.08g/t gold (channel MP-69)
- Reconnaissance mapping and sampling is to planned to commence during October 2014 on ridges to the north-east and south-west of the main prospect area
- Drilling is expected to recommence at Itogon during Q4 2014 (as previously announced)
Stephen Clayson, Chief Executive Officer of ECR, commented:
“The results of channel sampling at Itogon continue to indicate a significant epithermal vein system with widespread surface expressions, and it is our belief that continued exploration will prove very rewarding.
During the course of the year so far ECR has mapped and channel sampled numerous outcrops which do not appear to have been identified historically, including, with reference to the maps that accompany this news release, those represented by mapping points MP-20 to 21 and MP-38 to 40, the discovery of which has increased the known extent of mineralisation in the main prospect area.
Phase 4 channel sampling focused primarily on the westernmost identified vein zones in the central part of the main prospect area. As with prior phases, a number of impressively consistent mineralised intercepts were obtained, as detailed in Table 1 below.
Reconnaissance mapping and sampling is planned to commence during October 2014 on the ridges situated immediately to the north-east and south-west of and running sub-parallel with the ridge comprising the main prospect area, and is intended to identify any further surface expressions of the main epithermal system along with any other mineralisation of interest.”
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