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(Sharecast News) - Australia-focussed gold explorer and developer ECR Minerals announced updated results from drill hole BH3DD032 at the HR3 prospect at Bailieston on Tuesday.
The AIM-traded firm said the results were linked to previous results from the HR3 drilling programme, and revealed two potential mineralised corridors within the Maori Anticline.
ECR has 100% ownership of the Bailieston Project, which contains gold prospects known as HR3, Cherry Tree, Blue Moon and Black Cat.
The projects are operated by its wholly-owned Australian subsidiary Mercator Gold Australia (MGA).
It said the best results from BH3DD032 were 0.2 metres at 4.81 grams of gold per tonne, and 0.4 metres at 6.11 grams per tonne, beginning from 154.1 metres downhole.
The results linked to previously-drilled holes revealing two potential mineralised corridors within the Maori Anticline.
Plotting the location of gold intercepts from BH3DD032 and other adjacent drill holes in section view revealed the likelihood of two main corridors of mineralisation, the board explained.
It said mineralisation was located respectively on each side of the Maori Anticline, where anastomosing narrow gold and antimony veins propagate.
The system was open at depth and along strike to the north.
"Despite the well-documented delays in receiving these assays, and with results from a further seven drill holes still to come, I believe that technical director Adam Jones and his team are doing an outstanding job in uncovering an asset of increasing significance for ECR," said chief executive officer Andrew Haythorpe.
"The grades at hole BH3DD032 demonstrate potential cross-asset consistency, building on the previously reported grade continuity from holes BH3DD035, BH3DD012, BH3DD019 and BH3DD034, and establishing what we believe are two mineralised corridors within the Maori Anticline."
At 1106 BST, shares in ECR Minerals were up 4.22% at 0.96p.
Reporting by Josh White at Sharecast.com.
