ECR Minerals plc Further Positive Trenching Results from Itogon Gold Project, Philippines

 
TIDMECR 
 
 

ECR MINERALS plc("ECR Minerals", "ECR" or the "Company")

AIM: ECRUS OTC: MTGDY

FURTHER POSITIVE TRENCHING RESULTS FROMITOGON GOLD PROJECT, PHILIPPINES

LONDON: 21 JULY 2015 - The directors of ECR Minerals plc (the "Directors") are pleased to announce further positive results from trenching and test pitting at the Itogon epithermal gold project, northern Philippines. Mineralised intervals from the trenching and test pitting are presented in tables 1 and 2 below, which comprise the complete results of the trenching and test pitting programme. The results from trenches TR01, TR03, TR03A, TR04, TR06, TR12, TR13 and all test pits have not previously been reported. Additional results have also been reported in respect of TR05.

Stephen Clayson, Chief Executive Officer of ECR, commented:

"We are pleased to report more strong results from trenching at Itogon, and to present the complete assay results of the programme in the tables below. As previously announced, the results reflect the presence of a widespread supergene enriched oxide gold blanket occurring from surface in the main prospect area at Itogon. It is also apparent from the previously announced results of drilling by ECR that deeper level exploration targets exist below the supergene blanket.

Fieldwork in connection with the planned NI43-101 technical report is expected to commence this week, and will focus on integrating all available data into a geological model which will underpin the planned initial NI43-101 compliant resource and determine the direction of future exploration."

A set of maps pertaining to the exploration results reported today may be viewed at: http://www.ecrminerals.com/itogon-drill-holes-trenching-test-pitting-july2015

 
TABLE 1: 
WEIGHTED AVERAGE GRADE OF ALL SAMPLES 
ECR TRENCHING PROGRAMME 2015 
ITOGON GOLD PROJECT, PHILIPPINES 
Trench       Width   Average Grade 
             (m)     (g/t gold) 
Trench 01    18      0.05 
Trench 02    10      1.39 
Trench 03    18      0.55 
Trench 03A   8       1.63 
Trench 04    67      1.13 
Trench 05    72      1.28 
Trench 06    27      1.01 
Trench 07    47      0.36 
Trench 07A   8       0.94 
Trench 08    27      0.29 
Trench 09    97.6    2.57 
Trench 12    20      1.54 
Trench 13    11      4.36 
Total        430.60  1.38 
 
 
TABLE 2: 
MINERALISED INTERVALS (0.3g/t gold lower cut-off, maximum 1m  internal waste) 
ECR TRENCHING PROGRAMME 2015, ITOGON GOLD PROJECT, PHILIPPINES 
Trench ID     From  To    Width  Average Grade  Including 
                          (m)    (g/t Au) 
TR02          0     10    10     1.39           4m at 1.73 g/t from 0m, 2m at 1.67 g/t from 8m 
Trench ID     From  To    Width  Average Grade  Including 
                          (m)    (g/t Au) 
TR03          0     18    18     0.55 
Trench ID     From  To    Width  Average Grade  Including 
                          (m)    (g/t Au) 
TR03A         0     8     8      1.63           1m at 2.50 g/t from 0m, 1m at 3.45 g/t from 1m, 1m at 2.02 g/t from  3m, 1m at 1.22 g/t from 4m, 1m at 1.17 g/t from 5m, 1m at 1.11 g/t  from 6m, 1m at 1.10 g/t from 7m 
Trench ID     From  To    Width  Average Grade  Including 
                          (m)    (g/t Au) 
TR04          1     67    66     1.15           1m at 1.22 g/t from 1m; 1m at 2.84 g/t from 2m; 1m at 2.27 g/t from  3m; 1m at 3.61 g/t from 4m; 1m at 1.66 g/t from 5m; 1m at 4.65 g/t  from 6m; 1m at 3.90 g/t from 7m; 1m at 3.00 g/t from 8m; 1m at 1.64  g/t from 9m; 4m at 1.25 g/t from 19m; 4m at 1.63 g/t from 23m; 4m at  1.93 g/t from 27m; 4m at 1.23 g/t from 31m; 1m at 1.11 g/t from 56m;  1m at 1.12 g/t from 60m 
Trench ID     From  To    Width  Average Grade  Including 
                          (m)    (g/t Au) 
TR05          0     69    69     1.33           4m at 1.39 g/t from 4m; 4m at 1.40 g/t from 20m; 4m at 1.33 g/t from  24m; 4m at 1.50 g/t from 28m; 5m at 1.83 g/t from 36m; 1m at 1.22  g/t from 41m; 1m at 1.76 g/t from 42m; 1m at 3.83 g/t from 43m; 1m  at 4.62 g/t from 44m; 1m at 1.57 g/t from 45m; 1m at 1.11 g/t from  46m; 1m at 4.32 g/t from 48m; 1m at 2.18 g/t from 49m; 1m at 1.32  g/t from 50m; 1m at 2.01 g/t from 51m; 1m at 2.07 g/t from 57m; 1m  at 1.47 g/t from 58m; 1m at 1.65 g/t from 59m; 1m at 1.29 g/t from  61m; 1m at 1.79 g/t from 63m; 1m at 3.79 g/t from 64m; 1m at 3.27  g/t from 66m 
Trench ID     From  To    Width  Average Grade  Including 
                          (m)    (g/t Au) 
TR06          0     27    27     1.01           1m at 1.29 g/t from 7m; 2m at 1.28 g/t from 15m; 2m at 1.22 g/t from  17m; 2m at 2.06 g/t from 19m; 4m at 1.87 g/t from 23m 
Trench ID     From  To    Width  Average Grade  Including 
                          (m)    (g/t Au) 
TR07          5     6     1      0.45 
              17    20    3      0.77 
              25    28    3      0.71           1m at 1.44 g/t from 25m 
              31    35    4      0.77           1m at 1.80 g/t from 33m 
              37    38    1      0.39 
              43    47    4      0.90 
Trench ID     From  To    Width  Average Grade  Including 
                          (m)    (g/t Au) 
TR07A         0     8     8      0.94           4m at 1.74 g/t from 4m 
Trench ID     From  To    Width  Average Grade  Including 
                          (m)    (g/t Au) 
TR08          2     10    8      0.48           1m at 1.11 g/t from 9m 
              12    15    3      0.43 
              24    26    2      0.47 
Trench ID     From  To    Width  Average Grade  Including 
                          (m)    (g/t Au) 
TR09          1     61    60     2.43           1m at 5.33 g/t from 2m; 1m at 2.34 g/t from 7m; 1m at 16.74 g/t from  10m; 1m at 1.14 g/t from 13m; 1m at 2.44 g/t from 18m; 1m at 1.18  g/t from 21m; 1m at 1.21 g/t from 25m; 1m at 42.29 g/t from 28m; 1m  at 8.78 g/t from 29m; 1m at 1.32 g/t from 31m; 1m at 4.51 g/t from  34m; 1m at 5.11 g/t from 40m; 1m at 1.24 g/t from 41m; 1m at 2.32  g/t from 47m; 1m at 1.60 g/t from 48; 1m at 1.23 g/t from 49m; 1m at  2.27 g/t from 52m; 4m at 6.81 g/t from 53m 
TR09          69    97.6  28.6   3.61           2m at 1.23 g/t from 77m; 1m at 1.15 g/t from 79; 1m at 2.78 from  81m; 1m at 79.67 g/t from 84m; 2.6m at 1.07 g/t from 95m 
Trench ID     From  To    Width  Average Grade  Including 
                          (m)    (g/t Au) 
TR12          0     30    30     1.54           4m at 1.27 g/t from 0m; 4m at 1.69 g/t from 4m; 4m at 1.78 g/t from  12m; 4m at 1.76 g/t from 16m; 4m at 2.54 g/t from 20m; 1m at 1.63  g/t from 24m; 1m at 1.28 g/t from 25m 
Trench ID     From  To    Width  Average Grade  Including 
                          (m)    (g/t Au) 
TR13          0     9     9      3.53           1m at 6.02 g/t from 0m; 1m at 5.66 g/t from 1m; 1m at 1.39 g/t from  2m; 1m at 2.41 g/t from 3m; 1m at 5.81 g/t from 5m; 1m at 1.75 g/t  from 6m; 1m at 7.46 g/t from 7m 
Test Pit ID   From  To    Width  Average Grade  Including 
                          (m)    (g/t Au) 
TR01 TP03     0     1     1      0.46 
TR02 TP01     0     1     1      0.86           1.44 g/t from lower sample 
TR02 TP02     0     1     1      0.56 
TR02 TP03     0     1     1      1.06           1.24 g/t from upper sample 
TR03 TP01     0     1     1      0.46 
TR03 TP02     0     1     1      1.38           1.84 g/t from lower sample 
TR04 TP01     0     1     1      0.32 
TR04 TP02     0     1     1      2.23           2.61 g/t from upper sample and 1.86 g/t from lower sample 
TR06 TP02     0     1     1      1.40           1.41 g/t from upper sample and 1.39 g/t from lower sample 
 
 

NB:

Mineralised intervals from trenches presented in Table 2 were calculated as weighted averages using a lower cut-off grade of 0.30 g/t gold and a maximum of 1m internal dilution. The grade of each single sample which exceeded 1.00 g/t gold has been reported separately. Test pits were sampled by two separate 1m channel samples with a minimum 1m difference in elevation. No top cut has been applied in calculating the mineralised intervals in tables 1 and 2, and all widths given are apparent width.

QA/QC

A secure chain of custody was maintained in the transport and storage of all samples, which were shipped to and analysed by Intertek Testing Services Philippines, Inc. ("Intertek"), an internationally accredited independent analytical laboratory in Metro Manila. Sampling was carried out under geological supervision. Upon arrival at Intertek samples were sorted, dried (if necessary), crushed, split and pulverised. The method of analysis for gold was fire assay (50g charge) with AAS finish.

QA/QC measures including the use of certified standards were implemented by ECR and separately by Intertek in relation to the analysis of the samples. The assay data reported is considered acceptable in the context of these measures. Assay values have been expressed in this news release as g/t gold but are received from Intertek expressed as ppm gold. For the purposes hereof ppm gold and g/t can be considered equivalent.

The contents of this announcement have been reviewed by Dr Chris Wilson PhD, FAusIMM (CP), FSEG, a geologist with the consultancy Exploration Alliance, which has been engaged by ECR in connection with the Itogon project.

ABOUT ECR

ECR is a mineral exploration and development company with the right to earn a 50% interest in the Itogon epithermal gold project in the Philippines. Itogon is an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines.

ECR has a 100% interest in the SLM gold project in La Rioja Province, Argentina. Exploration at SLM has focused on identifying small tonnage mesothermal gold deposits which may be suitable for relatively near term production.

FOR FURTHER INFORMATION PLEASE CONTACT:

 
ECR Minerals plc Tel:                          [phone] 
William (Bill) Howell, Non-Executive Chairman 
Stephen Clayson, Director & CEO 
Richard (Dick) Watts, Technical Director 
Email: [e-mail] 
Website: www.ecrminerals.com 
Cairn Financial Advisers LLP                   Tel: [phone] 
Nominated Adviser 
Emma Earl/Jo Turner 
Daniel Stewart & Company plc                   Tel: [phone] 
Broker 
Martin Lampshire 
 
 

FORWARD LOOKING STATEMENTS

This announcement may include forward looking statements. Such statements may be subject to a number of known and unknown risks, uncertainties and other factors that could cause actual results or events to differ materially from current expectations. There can be no assurance that such statements will prove to be accurate and therefore actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking statements. Any forward looking statements contained herein speak only as of the date hereof (unless stated otherwise) and, except as may be required by applicable laws or regulations (including the AIM Rules for Companies), the Company disclaims any obligation to update or modify such forward looking statements as a result of new information, future events or for any other reason.

GLOSSARY

 
AAS:                      atomic absorption spectroscopy 
assay:                    a test performed on a sample of 
                          ores or minerals to determine 
                          the  amount of valuable metals contained 
NI43-101:                 Canadian National Instrument 
                          43-101 - Standards 
                          of Disclosure for  Mineral Projects 
epithermal:               mineralisation produced by 
                          near surface hydrothermal 
                          fluids related  to igneous 
                          activity; originally defined as having 
                          formed in the  range 50-300°C 
g:                        grams 
g/t:                      grams per tonne 
m:                        metre 
oxidation:                a chemical reaction caused by exposure 
                          to oxygen that results 
                          in a  change in the chemical 
                          composition of a mineral 
oxide gold blanket:       said of gold that has been 
                          liberated from sulphides 
                          during the  process of oxidation 
                          to form a surficial, sub-horizontal 
                          to  horizontal zone or 'blanket' 
ppm:                      parts per million 
supergene enrichment:     said of a mineral deposit formed 
                          at or just below the Earth's 
                          surface, generally through downward 
                          percolation of rainwater, 
                          resulting in liberation of gold through 
                          oxidation of sulphides, 
                          and  its concentration and enrichment 
                          within a given horizon 
t:                        tonne 
test pit:                 a pit dug through the upper parts 
                          of the soil profile or 
                          overburden  to expose bedrock 
                          veins and structures 
trench:                   a long, narrow excavation dug through 
                          the upper parts of the soil 
                          profile or overburden to expose 
                          bedrock veins and structures 
 
 
 
 

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