ECR Minerals identifies gold system at Blue Moon prospect in Australia
Source - SMW
ECR Minerals said testing work had provided evidence of a 'significant' near-surface mineralised system at its Blue Moon gold prospect in Australia.
Assay results indicated large mineralised gold intercepts up to 39.5 metres in width just 24.2 metres from the surface in a host rock sandstone that outcropped at the surface.
All three drill holes in the test work intercepted gold mineralisation and the results supported a hypothesis that Blue Moon was a disseminated gold system comparable to some of the mineralisation exploited at the Fosterville mine, the company said.
'Australia in general and Central Victoria region continues to experience a gold exploration boom and ECR are building a material presence in that region,' chief executive Craig Brown said.
'The results today provide an exciting opportunity for the company and we are keen to push ahead with our work to ascertain the size and nature of the mineralised system we have identified.'
'I expect to be able to release further updates to the market in the near term.'
At 1:07pm: (LON:ECR) ECR Minerals PLC share price was +0.14p at 0.93p