LONDON (ShareCast) - ECR Minerals, the Britain-based mineral exploration and development company, said its channel sampling at Itogon Gold Project delivered positive results.

The assay results from the third phase of channel sampling on the Philippines-based project site continue to demonstrate gold mineralisation at surface outside the zones tested by previous drilling, the group said.

The company reported average results of 2.78g of gold per tonnes at 18m and of 0.71g of gold per tonnes at 34m.

Further channel sampling in underground workings averaged 0.30g of gold per tonnes at 44m and grades of up to 7.38g of gold per tonnes in a different audit.

"We are pleased to be reporting another round of positive channel sampling results from Itogon," said group chief executive Stephen Clayson.

"Channel sampling continues at the project, and is focused on obtaining further information as to the extension of mineralisation at surface to the south, south-east, south-west and east in the central to southern sections of the main prospect area, outside the extent of previous drilling by ECR and historical drilling, and on helping to refine ECR's overall geological interpretation of the main prospect area."

ECR said the data that was being generated by the current work was "very valuable" and that it expected drilling to recommence at Itogon by
the end of 2014.

ECR shares were down 6.54% to 0.243p at 12:32 on Monday.

DC

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