CP5228 Nov 2020 05:03
Agreed , similar situation with AAU , 235k ounces and Proccea construction earned with a $33M loan to build out Red Rabbit , since then obviously the resource base has increased. At the time grades were far less than here , 11m at 4g/t , 7m 2.6g/t was a vein intersection with a target of 21k ounces per annum. Theses were deep drills
Grades on Creswick & Bailleston are outstanding even with gold at $1200 it was a stick on. Our drills are shallow , next week will be diamond drilling down towards 1300 meters
Craig Brown, Chief Executive Officer of ECR Minerals plc, commented:
"These results confirm the presence of nuggety gold mineralisation in the Dimocks Main Shale (DMS) at Creswick, some of which is very high grade.
MGA's tenement position at Creswick covers approximately 7 kilometres of the DMS trend, and our drilling earlier this year only tested approximately 300 metres of this.
Full bag test highest result in the DMS came in at 80.97g/t over 1 meter in a nuggety gold system.
Bailieston - Blue Moon next to Fosterville south mine owned by Kirkland lake gold produced over 600k ounces in 2019 at $325 per ounce
included:
2 metres at 17.87 g/t gold within a zone of 15 metres at 3.81 g/t
gold from 51 metres in BBM007;
3 metres at 3.88 g/t gold within a zone of 11 metres at 2.42 g/t
gold from 169 metres in BBM006;
1 metre at 2.15 g/t gold at the top of a zone of 16 metres at 0.28
g/t gold from 85 metres in BBM004;
2 metres at 1.40 g/t gold within a zone of 14 metres at 0.54 g/t
gold in BBM005 from 132 metres;
1 metre at 1.94 g/t gold from 138 metres and 5 metres at 0.46 g/t
gold from 152 metres in BBM010;
5 metres at 1.09 g/t gold from 97 metres in BBM013.
Creswick & Bailieston are cracking assets.
ECR - Laughable market cap just below 13M . Rerate very much over due now after 5 weeks of consolidation.
I said the same about UFO at .09p
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