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Bung Bong Gold Project - Drilling Successfully Completed, Structural Architecture Indicates Bulk Tonnage Potential

ECR Minerals plc is pleased to announce that drilling has been completed at the Bung Bong gold prospect in Central Victoria, Australia.

The activity at Bung Bong forms part of a larger diamond drilling programme across a number of gold prospects in Central Victoria, all of which are 100% owned by the Company's wholly owned subsidiary Mercator Gold Australia Pty Ltd (“MGA”).

Drilling activities will commence shortly at the Monte Christo prospect, and will move thereafter to the Blue Moon, Black Cat and Byron prospects in the Bailieston tenement area. Both Bung Bong and Monte Christo are part of the Avoca tenement area.

 

Drilling completed at the Bung Bong prospect

Five holes have been drilled at Bung Bong and have successfully tested the structural architecture of the prospect. Regularly-spaced faults have been logged in the drill core, in line with the style of faulting observed in the nearby road cutting. Quartz veins developed and partitioned by these episodically moving faults, as well as veins running along the fault, have been observed in sufficient volumes to indicate bulk tonnage potential.

A drill cross section can be viewed at the following link: https://bit.ly/2rhgozF

The commencement of drilling at Bung Bong was announced on 13 April 2018, and further information regarding the prospect is contained in that announcement. All drill cores from Bung Bong are being prepared for assay, and ECR looks forward to reporting the assay results in the near future.

 

Planned drilling at the Monte Christo prospect

The drilling at Monte Christo will test quartz reef structures beneath historical workings. The workings at Monte Christo extend over a strike length of approximately 1,000m, punctuated by alluvial cover. A soil geochemistry survey completed by MGA earlier this year using a portable XRF to delineate proxy minerals associated with gold, (notably arsenic (As)), confirmed the presence of three lines of workings at Monte Christo, and revealed anomalous zones along trends near to areas of extensive historical mining activities.

A prospect map illustrating these results may be viewed at the following link: https://bit.ly/2w4gIrt

Two drill holes are planned at Monte Christo to test the gold-bearing reefs for their structural configuration, width and gold endowment.

 

Craig Brown, CEO of ECR, commented:

“Following a period of comprehensive geochemical and geophysical analysis across our four Victorian gold tenements, ECR is executing its plan to drill-test multiple high-priority gold prospects. It bears noting that all four of the tenements are located in areas of extensive historical mining, and in the case of Bailieston, close to mines that are significant gold producers today.

The near-term objective of ECR’s work at Bung Bong, Monte Christo and the pipeline of other prospects mentioned above is to identify those at which the geology may justify follow-up reverse circulation (RC) drilling, which would have the aim of delineating a maiden mineral resource estimate in respect of one or more deposits. We are excited that the first-pass drilling at Bung Bong is now complete and whilst we look forward to receiving assay results shortly, we are shifting our drilling operations to the Monte Christo prospect.”

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