ECR Minerals PLC (AIM:ECR), the gold exploration and development company focused on Australia, said drilling at Cherry Tree (HR4), located on its Bailieston project in Victoria, is nearing completion.
A total of 1,545 metres (m) of diamond drilling has been completed to date at the Cherry Tree prospect, and ECR’s subsidiary Mercator Gold Australia Pty Ltd (MGA) is currently drilling the final drillhole (BCTDD010) before moving back to complete drilling of the HR3 ‘Byron’ area, ECR said in a statement.
It noted that visual examination of drill core BCTDD009 shows the most intense quartz-sulphidic vein drilled to date at Cherry Tree and that orientated diamond core has delineated sulphidic fault zones containing broad low-grade gold mineralisation emanating from a central anticlinal hinge zone.
This was the first time diamond drilling had been done within the Cherry Tree deposit. Previous drilling in the late 1980s revealed the presence of broad low-grade zones of mineralisation accompanied by occasional high-grade intercepts.
The aim of the recent drilling by MGA was to test the structural trends associated with the historic percussion drilling, and this was successful, ECR said.
“I am delighted to announce a significant step forward for the Bailieston project, with the near completion of drilling at HR4 (Cherry Tree),” said ECR chief executive officer Craig Brown.
He said the drilling will give the group a more detailed understanding of the prospect, “proving up the historic percussion drilling results that showed broad low-grade mineralisation zones with occasional high-grade intercepts”.
Drilling of the first diamond holes in Cherry Tree (BCTDD001, BCTDD002 and BCTDD003) were reported in August. The best intercept included 0.5m at 11.02 grammes per tonne of gold from 98.85m depth.
ECR stressed that whilst drill results to date at Cherry Tree have been disappointing, the structural interpretation of the Cherry Tree deposit has only been achieved through completing diamond drilling across multiple fault zones.
“Drilling of the last hole (BCTDD009) is showing a remarkable improvement in vein quality and size as we drill west of the anticline. For the time being, pending results, the drill rig will be moved to more promising sites at the north end of the HR3 (Byron) reserve where soil sampling is revealing strong arsenic-antimony anomalies on surface,” the company said.
ECR is also awaiting the final drill results from its recently completed diamond drilling at Creswick (EL6184). The final four drill holes are adjacent to the high-grade intercepts already reported from CSD003, which showed 0.95m at 9.93 g/t gold from 84.2m and 0.95m at 23.58 g/t gold from 89.05m.