AIM-listed ECR Minerals has announced an initial estimate of 1.2 million tonnes of inferred resources @ 1.6 grams/tonne gold for 60,500 ounces at the Danglay Gold Project, formerly known as Itogon, in the Philippines.
The maiden estimate only represents the deposit’s surficial oxide mineralization and ECR believes there are further exploration targets containing sulphidation vein-hosted mineralization that are similar to other deposits in the area.
According to ECR these higher grade targets may contain between 600,000 tonnes @ 5 grams/tonne and 700,000 tonnes @ 7.5 grams/tonne, equating to between 95,000 and 170,000 possible ounces of contained gold.
ECR’s chief executive Stephen Clayson says he is very pleased with the results. “These items are the fruit of ECR’s efforts to date on the project, which include two drilling programs, amongst much other work.”
He says plans for the next phase of work at Danglay are still being refined and that the company has begun a process to review opportunities and alliances which could be of value for Danglay and ECR going forward.
“The Danglay project lies within the Baguio district, from which tens of millions of ounces of gold are estimated to have been mined to date, and which continues to produce today,” he says.
“This has positive implications for Danglay, in that factors such as the availability of skilled staff at competitive rates and the social acceptance of mining contribute to a positive setting for development.”