LONDON (Alliance News) - ECR Minerals PLC said Thursday further assay results from its Bailieston project in Australia confirms gold minerlisation at the project.
The precious metals and exploration company's second batch of rock chip sampling from the project showed minerlisation ranging from 0.6 grams per ton of gold to 22.9 grams per ton of gold.
ECR Minerals said the sampling has been extended south to the Cherry Tree reefs, where 53 rock chip samples, out of the 75 total, were taken.
These sample assays ranged from 0.6 grams per ton gold to 8.2 grams per ton gold.
ECR said it is working on the next stage exploration programme to "further examine" the extent of gold mineralisation across the areas sampled.
"I am pleased to report the second batch of sampling data which, as with the first batch, has produced high grade gold in rock chip samples including samples taken from the Cherry Tree reefs," said Craig Brown, chief executive officer
Brown added: "In addition, the company awaits the results of rock chip sampling undertaken at Creswick, where on 25 September 2018 the company announced that exploration mapping had revealed a large gold system. The results from Creswick will be released to the market in the near term."
Shares in ECR Minerals were up 4.8% Thursday at 0.84 pence each.
ECR Minerals (ECR)