This is the second batch of rock chip sampling undertaken by the company at the project, the 75 rock chip samples from this batch confirm gold mineralisation, with assays from 29 samples ranging from 0.56 g/t Au to 22.9 g/t Au.
Sampling was extended to the south on the historic Cherry Tree reefs, where 53 of the rock samples were taken, which showed the presence of gold mineralisation, assays ranging from 0.56 g/t Au to 8.15 g/t Au.
Gold prices advanced amid risk-off sentiment in global markets after a sell off in global equities, up to $1200/oz vs US$1,189/oz yesterday.
Craig Brown, Chief Executive Officer of ECR Minerals plc, commented: “I am pleased to report the second batch of sampling data which, as with the first batch, has produced high grade gold in rock chip samples including samples taken from the Cherry Tree reefs.”
“In addition, the Company awaits the results of rock chip sampling undertaken at Creswick, where on 25 September 2018 the Company announced that exploration mapping had revealed a large gold system. The results from Creswick will be released to the market in the near term.”
He added, in a conversation with Vox Markets that "the results recently released have not been reflected in our market valuation, however the junior resource market has been somewhat depressed in recent months"
"Our job at ECR is to keep the work rate high and continue to deliver news to the market, and as sector confidence returns, we believe our positive work will begin to be reflected in our market value"
ECR is a mineral exploration and development company with a wholly owned Australian subsidiary Mercator Gold Australia with 100% ownership of the Avoca, Bailieston, Creswick, Moormbool and Timor gold exploration licences in central Victoria, Australia.
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