ECR Minerals plc is pleased to announce that drilling has commenced at
the El Abra prospect within the Company's Sierra de las Minas gold
project area in La Rioja Province, Argentina. Alta Drilling
International, a drilling contractor based in Nevada, USA with 3 rigs
working in Argentina, is operating a brand new Sandvik LF710 rig at El
Abra on behalf of the Company.
An initial programme of 12 holes totalling approximately 1,000m is
planned. By 8pm local time on Sunday 25 March 2012, 2 holes had been
completed and a total of 208m had been drilled. Both holes drilled so
far have intercepted the target vein at the target depths, confirming
the vertical vein orientation.
Core from the programme will be split and selected zones will be sent to
the internationally accredited AcmeLabs laboratory in Mendoza, Argentina
for assay. Initial assay results are expected within four weeks.
The drilling is intended to confirm the extent to which high grade gold
mineralisation identified by surface geochemical sampling continues to
depth and will test targets generated by the recently completed ground
based geophysical survey.
If following a detailed geological appraisal the results of the
programme indicate the presence of a sufficient tonnage of high grade,
near surface mineralisation, the objective of the Company will be to
commence small scale production from El Abra during the second half of
The Company has the option to retain the rig presently on site for a
further 1,000m of drilling, and will make a decision as to whether this
is appropriate during the current drilling.
El Abra Sampling Results
A total of 20 surface geochemical samples were taken by the Company at
the El Abra gold prospect during January and February 2012. Of these, 9
were of less than 5kg and 11 were larger samples of between 13.55kg and
34.45kg. All samples comprised vein material and selvage (vein margins)
and were sent for analysis at the AcmeLabs facility in Mendoza.
Best results from surface geochemical sampling at the El Abra gold
prospect during January and February 2012
Vibora 28-01-12 A (i)
Vibora 28-01-12 A (ii)
IV 28-01-12 A
IV 28-01-12 B (i)
IV 28-01-12 B (ii)
Camp 22-01-12 A
Camp 22-01-12 A
Riel 20-01-12 B
The objective of this sampling was to improve the Company's
understanding of the distribution of high gold grades along the 900m of
quartz veins mapped at El Abra to date. The results reported in the
table above are considered encouraging and provide further confirmation
that extensive areas of the El Abra vein set host surficial high grade
material in both vein and selvage. Vein sections in which both vein and
selvage are gold bearing present potentially mineable widths from
Efforts to obtain geochemical samples from historical underground
workings at El Abra have been frustrated by difficulties in establishing
safe access. This has so far not been possible and the Company is now
seeking specialist advice.
Michael Silver, Executive Chairman of ECR Minerals plc, comments:
"ECR has high hopes for the current drilling programme, and we are
pleased to report that it is now underway. The time and expenditure that
went into completing the geophysical survey and the surface sampling at
El Aba to date were intended to give this drilling programme as strong a
chance of success as possible, and if the programme is successful the
Company will have added substantial value to the El Abra prospect and
the wider project area."
About the Sierra de las Minas Project Area
ECR holds 100% of the exploration rights to the Sierra de las Minas
project area and 100% of the exploitation rights to a number of
prospects within it, including the El Abra prospect. Exploration rights
for other prospects may be converted to exploitation rights by
application to the government of La Rioja Province. The El Abra and
Jazmin prospects are subject to a 2% net smelter return royalty from
production. Commencement of mining activities is subject to receipt of
the necessary environmental permissions from the provincial government.
The project area is located approximately 800km north west of Buenos
Aires, the capital city of Argentina, and is the site of significant
historical small scale gold mining. Access to the project area is
possible via paved highways from the cities of Mendoza, San Juan and
Cordoba. Local access is by paved and unpaved provincial routes.
About ECR Minerals plc
ECR is a mineral development company with interests in Argentina, the
USA, Indonesia, Thailand and Australia.
For further information please contact:
ECR Minerals plc Michael Silver, Executive Chairman Stephen
Clayson, Director & Chief Financial Officer Luca Tenuta,
Non-Executive Director Tel: +44 (0)20 7929 1010 Email: email@example.com Website:
www.ecrminerals.com or Daniel
Stewart & Company plc Paul Shackleton/Tessa Smith/David Hart Tel:
+44 (0)20 7776 6550 or Old Park Lane Capital plc Michael
Parnes Tel: +44 (0)20 7493 8188 or Blythe Weigh
Communications Matthew Neal/Tim Blythe/Paul Weigh Tel: +44
(0)20 7138 3204 or Barry Kaplan Associates Larry
Kaplan Tel: +1 732 747 0702
The contents of this announcement have been reviewed by Trevor Neale
B.App.Sc. (Geol.), MAIG, a geological adviser to the Company with more
than 35 years of experience in the mining and exploration industry.
Datafeed and UK data supplied by NETbuilder and Interactive Data.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk!
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.