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ECR Minerals PLC on Monday said that its latest soil sampling results at the Creswick project will improve drill target resolution and may reduce operating costs. ECR, an exploration and development company focused on gold in Australia, has 100% ownership of the Creswick project in Victoria. Findings from the sampling included gold results from 297 soil samples from Mills Reef prospect, with the highest result being 0.68 parts per million. Highlights include a comparison study showing a close spatial relationship between gold results and arsenic analysis. Additional analysis and rock chip results, on new prospects in one exploration tenement, highlight further potential gold sources. ECR believes that the close relationship of gold to arsenic can be used to identify which samples should be sent to the laboratory for gold analysis, thereby reducing operating costs. Infill soil sampling work is continuing along the strike areas containing the better soil sample results. ECR has also completed initial soil sampling on the north end of a tenement at Quartz Hill. Chief Executive Officer Andrew Haythorpe said that the results ‘continue to build a picture of mineralisation in the area improving resolution of potential new drill targets for the future’. Haythorpe added: ‘I look forward to reporting back with the remainder of the sampling results, along with the first results from the diamond drilling campaign.’ The announcement was reviewed by geologist Adam Jones, ECR’s technical director of exploration. Shares in ECR were down 9.6% on Monday afternoon in London, trading at 0.52 pence. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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