Business
Fifteen High Priority Targets Identified Within ECR’s Victorian Gold Projects
Fifteen High Priority Targets Identified Within ECR’s Victorian Gold Projects.
About this update from Ecr Minerals Plc
[{"type":"text","content":"\n\n \n \n \n Fifteen High Priority Targets Identified Within ECR’s Victorian Gold \n Projects\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 FIFTEEN HIGH PRIORITY TARGETS IDENTIFIED WITHIN\n \n \n ECR’s VICTORIAN GOLD PROJECTS\n \n \n LONDON: 11 December 2017 - The directors of ECR Minerals plc are \n pleased to announce the results of an interpretation and targeting study \n using open-file geophysical data covering the Avoca, Bailieston, \n Moormbool and Timor exploration licences in Central Victoria, Australia. \n The four licences are 100%-owned by ECR’s wholly owned Australian \n subsidiary Mercator Gold Australia Pty Ltd (“MGA”).\n \n \n Highlights:\n \n \n * 27 targets identified within the Avoca and Timor licences, \n including 10 high priority areas\n \n \n * 20 targets identified within the Bailieston and Moormbool licences, \n including 5 high priority areas\n \n \n * Victoria is one of the world’s major gold producing provinces and \n hosts the second largest gold endowment in Australia with total recorded \n gold production of around 85 million ounces\n \n \n The study was carried out for MGA by the consultancy firm Terra \n Resources Ltd, and has identified a total of 47 targets for potential \n follow-up, including 15 high priority areas. The study comprised the \n processing and interpretation of all open-file geophysical compilations \n available for the licence areas. The geophysical compilation datasets \n include regional airborne magnetics and radiometrics and ground gravity \n data, which have been processed and imaged in order to perform \n geological interpretation and target generation.\n \n \n The high priority targets identified include areas already considered to \n be of significant interest by ECR, such as the Byron, Black Cat and \n Cherry Tree prospects at Bailieston, the magnetic anomaly at Moormbool, \n and the Leviathan trend at Timor. Several new target areas have also \n been identified.\n \n \n At Timor, the targets (see Figure A) have been derived based on major \n N-S structures with cross cutting NW and/or NE major and minor faults, \n and many of the resulting target areas appear to be proximal to and/or \n run along N-S strike to known gold occurrences. Terra has observed that \n the N-S trending dyke swarm at ...