"Stephen Clayson, Chief Executive Officer of ECR, commented:
“2014 was a full year of exploration by ECR at the Itogon project, and the results have demonstrated that epithermal gold mineralisation is widespread within the main prospect area, comprising at least three subparallel mineralised structures over a strike length of 400m within a zone up to 250m wide at surface. Our first phase of drilling, which was completed in April 2014, as well as multiple phases of sampling within artisanal workings, indicates that the mineralisation occurs over a vertical extent of 250m, and remains open at depth.
The Itogon project is located within an established mining district in the Philippines, which is a country with an important mining industry and, in general, a relatively low cost of operations. Grid power is available close to the project, and the area is easily accessible by sealed and unsealed roads from Baguio City some 15km distant.
It is intended that the programme of diamond drilling now underway will answer key geological questions with regard to the mineralised structures identified to date, and evaluate the continuity of grade in the mineralised zones intercepted by previous drilling. These zones include a surficial zone of supergene enrichment, prior intercepts from which include 16m at 17.14g/t gold from 1m (with 2m at 119.53 g/t gold from 8-10m) in drill hole ERC008 and 30m at 1.63g/t gold from surface in drill hole ERC004.
Also worthy of follow up are deeper intercepts including 33m at 1.13g/t gold from 86m in drill hole ERC006, 7m at 5.33g/t gold from 138m (with 2m at 15g/t gold from 138m) in drill hole ERC005, and, in hole ERC002, 15m at 3.29g/t gold from 82m (with 2m at 18.25g/t from 92m) plus 17m at 1.57g/t gold from 101m (with 3m at 5.45g/t gold from 103m). In addition, there may be scope for the current programme to identify new mineralised structures.”
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