ECR is a mineral development company with, among other interests, 100% ownership of the Sierra de las Minas gold project in La Rioja Province, Argentina; a 21% fully diluted stake in THEMAC Resources Group Ltd (TSX-V: MAC), which is focused on the development of the Copper Flat copper-molybdenum-gold-silver porphyry project in New Mexico, USA; and a stake in Paniai Gold Ltd (unquoted), which has exposure to the Derewo River alluvial gold mining and exploration project in Papua, Indonesia.
ECR Minerals expects assay results from El Abra gold prospect within weeks
ECR plans to drill 12 holes on El Abra totaling 1,000 metres, but has the option to retain the drill rig for another 1,000 metres
(, OTC:MTGDY) expects to receive assay results from drilling at the El Abra gold prospect in Argentina within 2-3 weeks.
El Abra is part of its wholly-owned Sierras de las Minas project in La Rioja Province.
To date, 8 drill holes have been completed for 650 metres, and hole 9 is in progress. Core samples from 6 holes have been sent to a laboratory in Mendoza, Argentina, for assay.
The company expects to submit further core samples for analysis in due course.
ECR plans to drill 12 holes on El Abra totalling 1,000 metres, but has the option to retain the drill rig for another 1,000 metres. It will decide once assay results are available.
The drilling is testing if high grade gold mineralisation identified by surface sampling continues to depth.
If the results of the programme indicate the presence of a sufficient tonnage of high grade, near-surface mineralisation, small scale production will start at El Abra during the second half of 2012.
ECR holds 100 per cent of the exploration rights to the Sierra de las Minas project area and 100 per cent of the exploitation rights to a number of prospects within it, including El Abra.
Exploration rights for other prospects may be converted to exploitation rights by application to the government of La Rioja Province. The El Abra and Jazmin prospects are subject to a 2 per cent net smelter return royalty from production.
The project area is located approximately 800 kilometres north west of Buenos Aires.
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