ECR MINERALS plc
(“ECR Minerals”, “ECR” or the “Company”)
US OTC: MTGDY
London: 6 July 2015 - The directors of ECR Minerals plc (the “Directors”) are pleased to announce positive results from trenching at the Itogon epithermal gold project, northern Philippines. The trenching was completed during May and June 2015 and comprised 13 trenches totalling 430.6m. Mineralised intervals from the trenching are presented in Table 1 below.
In addition, 12 test pits were excavated in areas too steep or otherwise inaccessible for trenching. Further assay results in respect of various trenches and all test pits are pending.
- Mineralised intervals from trenching (apparent width) include:
60m at 2.43 g/t gold in TR09 (includes interval of 42m at 2.54 g/t gold announced 18 June 2015)
28.6m at 3.61 g/t gold in TR09 (separate and additional to the interval above)
18m at 1.71 g/t gold in TR05
59m at 1.32 g/t gold in TR05
10m at 1.39 g/t gold in TR02
- Very high grades encountered in TR09 including: 1m at 16.74 g/t gold from 10m
1m at 42.29 g/t gold from 28m
1m at 79.67 g/t gold from 84m
Stephen Clayson, Chief Executive Officer of ECR, commented:
“These encouraging results provide further positive indications as to the potential of the supergene enriched oxide gold blanket which occurs from surface in the main prospect area at Itogon, and we look forward to receiving and reporting the remainder of the assay results from the trenching and test pitting programme.
Work at the project during July 2015 is expected to focus on formulating a cohesive geological model for the purposes of the planned resource estimate and accompanying NI43-101 technical report. The Directors anticipate that this report will be completed during September 2015.
This work will include efforts to better understand the controls on the very high grade mineralisation encountered in TR09 and in earlier phases of sampling, as well as in the reverse circulation drilling carried out in 2014.”
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