ECR Minerals shares climbed 16.1% to 1.2p in late morning trading on Wednesday after the company reported multiple high-grade gold intercepts at its BH3DD034 hole in Bailieston, Victoria.
The Australia-focused mining firm announced that its BH3DD034 drillhole returned four high-grade gold intercepts at drilled depths of 0.3 metres at 20.3 grams per tonne of gold from 18.2 metres, 0.6 metres at 13 grams per tonne of gold from 54.2 metres, 0.3 metres at 10.5 grams per tonne of gold from 97.7 metres and 0.2 metres at 45 grams per tonnes of gold from 149.2 metres.
The BH3DD034 hole was one of four drillholes completed as follow-up to the mining group’s previously announced hole BH3DD019, at which four mineralised zones were identified.
ECR Minerals commented that BH3DD034 was drilled between 4 and 11 April, and completed at a total drilled depth of 167.5 metres, over six working days at an average of 28 metres per day.
ECR Minerals currently owns 100% of the Bailieston project, which holds gold prospects HR3, Cherry Tree, Blue Moon and Black Cat.
The projects are operated by ECR’s wholly-owned subsidiary, Mercator Gold Australia.
“This is an outstanding result, capably executed and delivered by Adam and the drill team,” said ECR Minerals CEO Andrew Haythorpe.
“As a geologist myself, along with the team, I am excited by the continuity of grade and the manner in which the Maori Anticline is further revealing itself through each assay result. There is clearly much more to come.”