Business
Progress Update - Creswick Gold Project Australia
Progress Update - Creswick Gold Project Australia.
About this update from Ecr Minerals Plc
[{"type":"text","content":"\n\n \n \nProgress Update - Creswick Gold Project Australia\n\nECR Minerals plc\n\n \n\n\nECR MINERALS plc\n\n\n(“ECR Minerals”, “ECR” or the “Company”)\n\n\nProgress Update - Creswick Gold Project Australia\n\n\nECR Minerals plc (LON:ECR), the precious metals exploration and development company, is pleased to announce a progress update from the testing of reverse circulation (“RC”) drilling sample bags taken from the Creswick gold project (the “Project”) in Victoria, Australia.\n\n\nAs announced on 11 June 2019 and 8 May 2019 ECR are conducting whole of bag testing in order to increase the sample size to gain more representative results than from the original 2 kg assays.\n\n\nImages of recovered gold referenced in this announcement may be viewed through the following link: \n\n\nhttps://www.ecrminerals.com/images/2019/08/22/gec_au_photos.jpg\n\n\nCraig Brown, Chief Executive Officer commented: “I am pleased to update shareholders with our progress in respect of the Creswick gold project.\n\n\nEstablishing the testing process was technically complex and, with the extremely poor winter weather in Victoria, took us longer than anticipated.\n\n\nThe good news is we are up and running with an established process and test results starting to flow into the company. It is positive to see results so far that overall demonstrate increased gold in the samples. These are the early results however and a significant amount of further information is required before conclusions can be drawn.\n\n\nThe results so far have demonstrated significant variability from the original assays, demonstrating that the small sample size can overstate and understate results. Notably the original 44.63 g/t assay from the 2 kg sample from CSR006 (15-16 m) is increased to 63.03 g/t.\n\n\nOf particular importance is that we use the data gathered from our work generally, and the test results themselves, to understand the geological structures involved and the distribution of gold mineralisation.\n\n\nIn this regard I would like to welcome Dr Simon Dominy FGS(CGeol) FAusIMM(CPGeo) as a consultant to the Company. Simon has extensive relevant experience evaluating high-nugget effect gold deposits and will help assess our results and guide our future work programmes.\n\n\nWith our testing system now established and running further announcements are expected in t...