LONDON (ShareCast) - (Sharecast News) - ECR Minerals reported encouraging initial results from its diamond drilling programme at the Bailieston gold and antimony project in Central Victoria on Tuesday, confirming the presence of both commodities in two of the first three holes completed.
A total of 570 metres of drilling was carried out across four holes, with the final hole completed on 27 May and awaiting assay results.

Hole BH3DD044 returned the most promising results, intersecting a 1.6-metre mineralised zone from 133 metres, including 0.2 metres at 3.86 grams of gold per tonne and 1.41% antimony, and a further 0.3 metres at 3.09 grams of gold per tonne.

Another shallow intercept from the same hole recorded 0.2 metres at 0.92 grams of gold per tonne.

Hole BH3DD046 also returned mineralisation, with 0.15 metres grading 0.84 grams of gold per tonne and 1.62% antimony from 135.2 metres.

Visual confirmation of stibnite was observed throughout the relevant intervals in both holes.

Hole BH3DD045 intersected the targeted structure but lacked significant mineralisation due to the quartz vein pinching out.

The AIM-traded firm said the drilling programme had so far demonstrated good alignment with structural models, including proximity to a previous high-grade intercept that returned 32% antimony, highlighting the potential scale and continuity of the mineralised system.

Further assay results from the final hole were expected in due course.

"We are encouraged by these initial results from the recent drilling at the Bailieston Project, with two of the first three holes confirming the presence of antimony-gold mineralisation," said managing director Mike Whitlow.

"The consistency between BH3DD044 and BH3DD046, particularly the identification of stibnite, reinforces our confidence in the structural model and the broader mineralised system."

Whitlow said that the drill programme thus far was achieving its objectives "with precision", intersecting the targeted structures within a few metres of plan.

"With the final drill hole completed today and the core to be submitted shortly for analysis, we look forward to reporting on the full results in due course.

"Our ongoing fieldwork at the Bailieston Project along strike and across parallel vein systems, including at the Hard Up Reef area, continues to indicate strong gold potential."

At 1030 BST, shares in ECR Minerals were down 2.33% at 0.21p.

Reporting by Josh White for Sharecast.com.

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