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Commencement of Earn-In to Itogon Gold-Silver P...
Commencement of Earn-In to Itogon Gold-Silver P....
About this update from Ecr Minerals Plc
[{"type":"text","content":"\n\n \n \n \n Commencement of Earn-In to Itogon Gold-Silver Project\n \n \n \n \n\n \n ECR Minerals plc\n \n \n\n \n \n \n ECR MINERALS plc\n \n \n (“ECR Minerals”, “ECR” or the “Company”)\n \n \n AIM: ECR\n \n \n US OTC: MTGDY\n \n \n COMMENCEMENT OF EARN-IN TO\n \n \n ITOGON GOLD-SILVER PROJECT\n \n \n LONDON: 9 DECEMBER 2013\n \n \n ECR Minerals plc is pleased to advise that further to its announcement \n of 22 November 2013, the final condition for commencement of the \n Company’s earn-in to a 50% interest in the Itogon gold-silver project in \n the Philippines has now been satisfied.\n \n \n The condition was satisfied by the submission of certain documents to \n the Philippine Mines & Geosciences Bureau by Cordillera Tiger Gold \n Resources, Inc. (“Cordillera Tiger”), holder of the exploration permit \n (the “EP”) pertaining to the Itogon project.\n \n \n The EP was recently renewed for a period of two years from 1 October \n 2013, and exploration can now commence with ECR, through Cordillera \n Tiger, as the operator of the project.\n \n \n Planned Exploration at the Itogon Project\n \n \n Surface and underground sampling\n \n \n A programme of surface channel sampling is planned with the objective of \n verifying a selection of historical channel sample runs. Historical \n surface channel sampling results include 50m at 3.23g/t Au, 17m at \n 1.76g/t Au, 23m at 2.32g/t Au, and 40m at 1.68g/t Au.\n \n \n A programme of stream sediment and soil sampling is proposed to cover \n the entirety of the tenement outside the main prospect area, and is \n intended to help identify any extensions to the mineralised zone \n outlined by historical information and any other deposits that may exist \n within the tenement boundaries. The main prospect area covers only a \n small part of the total 330 hectare area of the EP.\n \n \n An exploratory tunnel into the lower part of the main prospect area is \n known to exist and may be of substantial length. It is planned that as \n far as possible this tunnel will be rehabilitated, mapped and sampled in \n order to provide additional information as to the continuity and tenor \n of gold and silver grades at depth.\n \n \n The verification channel sampling is expected to commence during \n December 2013 and to conclude during January 2014. The tenement wide \n stream sediment and soil sampl...