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
13th Apr 2012, 2:59 am by Andre Lamberti
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.
No investment advice
Proactive Investors North America Inc, trades as "Proactiveinvestors USA & Canada".
You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.
You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.
From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.
You understand that we may be providing advertising and/or marketing services to companies mentioned on the site. A full list of companies that are paying for services from us, or our affiliated companies in the UK and Australia can be viewed here
