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Windidda gold project to further expand ECR Minerals’ #ECR Australian gold portfolio

Windidda gold project to further expand ECR Minerals’ Australian gold portfolio      

by Harry Dacres-Dixon

  • ECR expand into Western Australia
  • Yilgarn Craton: Australia’s premier mineral province
  • An exciting prospect for ECR
  • Independent research – 2.5p price target

At the beginning of last month the precious metals exploration and development company, ECR Minerals (AIM:ECR), revealed it had applied for 9 new exploration licences in the Yilgarn region of Western Australia.

Named the Windidda gold project, the applications represent another major push forward by ECR following their successful strategic financings in July and December last year. ECR is now fully funded to develop its burgeoning asset portfolio through to June 2020.

The Windidda land package will complement the company’s already extensive gold portfolio in Victoria, as they press forward with their mission to deliver shareholders the next multi-million ounce gold resource. The Windidda applications, which lie east of the town of Wiluna, cover a total of 523 graticular blocks representing roughly 1,600km2of the Yilgarn Craton.

The area is highlighted as holding the potential to contain significant Archean greenstones, which are known for hosting many of Australia’s and the world’s richest gold deposits.

Craig Brown, CEO of ECR said “I am particularly pleased to announce this strategic move into Western Australia, which, like Victoria, has exceptional gold exploration potential in a first world operating environment.”

“Greenstone-hosted gold trends in the Western Australian Yilgarn province are very tightly held and access to free ground, when it becomes available, is highly competitive.

“So it is very encouraging that ECR has managed to compile a large land position of contiguous tenements covering untested gravity-magnetic anomalies representative of potential greenstone-hosted gold trends.”

Previous exploration in the area has focused on base metal and manganese deposits only. However, pre-existing data from these projects will enhance ECR’s opportunities here.

“There was some work completed in the 1980s and 1990s but they were looking for nickel at the time, and they also found molybdenum. So one of the first things we’re going to do is go over that old information. Because nobody’s ever looked for gold here” says Brown.

This was in part due to the potentially mineralised rocks lying under cover, however ECR believes this cover to be shallow and are hopeful the drilling will be relatively straightforward. ECR plan to use aircore drilling across gravity-magnetic anomaly targets to allow for rapid assessment of the potential for gold mineralisation.

Brown says;“The best way to test it is to do aircore drilling. It’s very cheap at around A$40 or A$50 per metre, including assaying costs, so our plan is to do an aircore programme once we’ve reviewed the existing data.”

This under-cover greenstone gold exploration model has been successfully tested by Greatland Gold (LON:GGP) at its Ernest Giles project located approximately 125 kilometres east of ECR’s Windidda project.

Yilgarn Craton: Australia’s premier mineral province

Metamorphism of the original rock produces a number of green minerals
Metamorphism of the original rock produces a number of green minerals

Evidenced as containing the oldest crust on earth and abundant Archean greenstones, Australia’s Yilgarn Craton is one of the world’s most important gold provinces.

The region has had a history of significant gold production for over a century. Since the 1980s the Yilgarn Craton has re-emerged as one of the world’s premier gold-producing areas and the site of some exceptional exploration successes.

For three decades since 1979, the Archean Yilgarn Craton has sustained a tenfold increase in production and along with Nevada its growth has outperformed all other parts of the world. Across this period over 8000t gold (270 Moz) in the Yilgarn Craton have been discovered. To put this success into perspective, no region has ever had an equivalent period of gold discovery except for South Africa immediately after 1886 and again around 1930–1940s (Phillips et al, 2019).

The Yilgarn Craton is host to around 30% of the world’s known gold reserves and produces two-thirds of all gold mined in Australia. Unsurprisingly the area attracts more than half of Australia’s minerals exploration expenditure.

Many of the richest gold deposits in the world, including Kalgoorlie’s Golden Mile, are hosted in the Yilgarn’s greenstone belts. These exposed packages of ancient volcanic and sedimentary rocks have been metamorphosed over millions of years.

At almost 4km long, 1.5km wide and 500 metres deep, the world-famous Kalgoorlie Super Pit alone produces up to 800,000 ounces of gold per year. The Super Pit is owned by Kalgoorlie Consolidated Gold Mines Pty Ltd, a company owned 50:50 by the two of the world’s largest gold mining companies Barrick Gold and Newmont Mining.

Other significant gold deposits in the Yilgarn include Mount Charlotte, Norseman, Wiluna, Sunrise Dam, Sons of Gwalia, St Ives-Kambalda, Tarmoola and Wallaby

The super pit, Kalgoorlie, Western Australia
The super pit, Kalgoorlie, Western Australia

Greatland Gold’s Ernest Giles project, which at 2,000sq km extends over a slightly bigger area than ECR’s Windidda, is believed to hold the potential to deliver the discovery of large +5 million ounce gold camps and 5-10Mt nickel deposits. Meanwhile, Blackham Resources Ltd’s Wiluna mine has produced over 4 million ounces of gold from 20 open pits and 3 underground mines.

In addition to gold, the Yilgarn hosts approximately 20% of the world’s nickel reserves, 80% of the world’s tantalum reserves, and considerable iron ore, copper, zinc and minor lead reserves.

An exciting prospect for ECR

Located in the world-class mining region of Western Australia, known for holding Archean greenstones, ECR’s latest Windidda project looks an exciting addition to an already promising portfolio in Australia. The region’s rich history of producing significant gold deposits and continued expansion over the last 3 decades provides firm evidence of the ongoing potential for new entrants.

“It looks like very prospective territory. Everybody regards Western Australia as a very promising area to work in,” said Brown

The new site will compliment ECR’s Bailieston, Moormbool, Creswick, Timor and Avoca projects. ECR’s Bailieston and Moormbool projects received instant validation of their prospectivity in November after Newmont Gold applied for a license adjacent to Bailieston. ECR also announced last week that an initial four holes had been successfully drilled at its Creswick gold project, with additional drilling also underway at the Black Cat prospect within the Bailieston gold project area.

Independent research – 2.5p price target

This veritable hive of activity is further underpinned by the rising gold price. The yellow metal hit a 7 month high as it broke through the $1,300 mark last Friday, which helps put ECR’s paltry market cap of just £3.7m firmly in bargain territory.

This view is echoed by Hallgarten Equity Research, who in a research note published on February 12th 2019 said; “With over GBP 1.2m in the bank as at the end of last year and R&D rebates expected in from the Australian government, the company is well resourced and planned exploration only makes a relatively small dent in funds. This implies little to no dilution in the short term. Therefore we have rated ECR Minerals as a Long position with a 12-month target price of GBP 2.5 pence.”

 

Sources:

Blackham Resources: http://blackhamresources.com.au/wiluna-mine/

Brand Communications:

http://www.branduk.net/ecr-mineralss-craig-brown-says-new-yilgarn-gold-properties-look-highly-prospective-proactive-investors/

http://www.branduk.net/ecr-minerals-ecr-drilling-update-creswick-gold-project-australia/

http://www.branduk.net/central-victoria-gold-rush-revival-continues-as-ecr-minerals-applies-for-licensing-at-an-additional-four-sites-following-newmonts-application-a-few-weeks-ago/

ECR Minerals: https://www.ecrminerals.com/investors-media/presentations/download?path=ECR%2BWindidda%2BAu%2BProject%2BPresentation.pdf

Geology for Investors: https://www.geologyforinvestors.com/gold-archean-greenstone-belts/

Greatland Gold: https://greatlandgold.com/ernest-giles/

Phillip, G., J.Vearncombe, J., Eshuys, E. (2019). Gold production and the importance of exploration success: Yilgarn Craton, Western Australia. Ore Geology Reviews. Volume 105. Pp. 137-150. https://www.sciencedirect.com/science/article/pii/S0169136818306425

Proactive Investors: https://www.proactiveinvestors.co.uk/companies/news/211826/ecr-minerals-moves-into-western-australia-211826.html

Hallgarten Equity Research:

http://www.branduk.net/hallgarten-company-produce-initiation-of-coverage-research-report-for-ecr-minerals/

Many of the larger gold deposits of the Archean Yilgarn Craton (Davis et al, 2010) are associated with granite-cored domes. ‘These provided an architecture that focused fluid metals into the upper crust’s depositional sites.’

ECR Minerals #ECR – Drilling Update – Black Cat Gold Prospect, Australia

ECR Minerals plc (LON:ECR), the precious metals exploration and development company, is pleased to announce that drilling at the Black Cat gold prospect in the state of Victoria, Australia, has commenced and the first two holes have been successfully completed.

Composite samples representing 4m downhole lengths will be compiled from the Black Cat drill cuttings and sent to be assayed for gold. After receipt of the assay results, composites which have returned anomalous gold grades will be re-sampled on a metre by metre basis and this second set of samples will be sent for assay. Assay turnaround time is estimated to be 2-6 weeks.

Further information in respect of this drill programme is available in the Company’s announcement of 4 February 2019, which can be viewed at the following link:

https://polaris.brighterir.com/public/ecr_minerals/news/rns/story/w1mok9w

Black Cat Photo Gallery

It is also the Company’s intention to provide site photographic images for the Black Cat gold prospect drill location and drilling process on the Company’s website.

The images may be viewed at the following link:

https://www.ecrminerals.com/black-cat-gallery

MARKET ABUSE REGULATIONS (EU) No. 596/2014

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (MAR). Upon the publication of this announcement via Regulatory Information Service (RIS), this inside information is now considered to be in the public domain.

FOR FURTHER INFORMATION, PLEASE CONTACT:

ECR Minerals plc Tel: +44 (0)20 7929 1010
David Tang, Non-Executive Chairman
Craig Brown, Director & CEO

Email:

info@ecrminerals.com

Website: www.ecrminerals.com
WH Ireland Ltd Tel: +44 (0)161 832 2174
Nominated Adviser
Katy Mitchell/James Sinclair-Ford
SI Capital Ltd Tel: +44 (0)1483 413500
Broker
Nick Emerson

ABOUT ECR MINERALS PLC

ECR is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Limited has 100% ownership of the Avoca, Bailieston, Creswick, Moormbool and Timor gold exploration licences in central Victoria, Australia and the Windidda gold project in the Yilgarn Region, Western Australia.

ECR has earned a 25% interest in the Danglay epithermal gold project, an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines. An NI43-101 technical report was completed in respect of the Danglay project in December 2015 and is available for download from ECR’s website.

ECR’s wholly owned Argentine subsidiary Ochre Mining has 100% ownership of the SLM gold project in La Rioja, Argentina. Exploration at SLM has focused on identifying small tonnage mesothermal gold deposits which may be suitable for relatively near-term production.

ECR Minerals #ECR – Drilling Update – Creswick Gold Project Australia

ECR Minerals plc (LON:ECR), the precious metals exploration and development company, is pleased to announce that the Company’s drill programme at the Creswick gold project in the state of Victoria, Australia, has commenced and the first four holes have been successfully completed.

Further information in respect of this drill programme is available in the Company’s announcement of 29 January 2019.

In addition, ECR have produced a project specific presentation for the Creswick gold project, which may be viewed on the Company’s website through the following link:

PDF version:

https://www.ecrminerals.com/investors-media/presentations/download?path=ECR%2BCreswick%2BQ1%2B2019%2BDrilling%2B%2BProgramme%2B08-02-19.pdf

PowerPoint version:

https://www.ecrminerals.com/investors-media/presentations/download?path=ECR%2BCreswick%2BQ1%2B2019%2BDrilling%2B%2BProgramme%2B08-02-19.ppsx

It is also the Company’s intention to provide site photographic images for the Creswick gold project drill location and drilling process on the Company’s website.

The images may be viewed through the following link:

https://www.ecrminerals.com/creswick-gallery

COMPETENT PERSON STATEMENT

The information in this announcement that relates to Exploration Results is based on information compiled by Dr Rodney Boucher of Linex Pty Ltd. Linex Pty Ltd provides geological services to Mercator Gold Australia Pty Ltd, including the services of Dr Boucher, who has a PhD in geology, is a Member and RPGeo of the Australian Institute of Geoscientists and is a Member of the Australian Institute of Mining and Metallurgy. Dr Boucher has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Dr Boucher consents to the inclusion in the announcement of the material based on his information in the form and context in which it appears.

MARKET ABUSE REGULATIONS (EU) No. 596/2014

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (MAR). Upon the publication of this announcement via Regulatory Information Service (RIS), this inside information is now considered to be in the public domain.

FOR FURTHER INFORMATION, PLEASE CONTACT:

ECR Minerals plc Tel: +44 (0)20 7929 1010
David Tang, Non-Executive Chairman
Craig Brown, Director & CEO
Email:

info@ecrminerals.com

Website: www.ecrminerals.com
WH Ireland Ltd Tel: +44 (0)161 832 2174
Nominated Adviser
Katy Mitchell/James Sinclair-Ford
SI Capital Ltd Tel: +44 (0)1483 413500
Broker
Nick Emerson

ABOUT ECR MINERALS PLC

ECR is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Limited has 100% ownership of the Avoca, Bailieston, Creswick, Moormbool and Timor gold exploration licences in central Victoria, Australia and the Windidda Gold Project in the Yilgarn Region, Western Australia.

ECR has earned a 25% interest in the Danglay epithermal gold project, an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines. An NI43-101 technical report was completed in respect of the Danglay project in December 2015 and is available for download from ECR’s website.

ECR’s wholly owned Argentine subsidiary Ochre Mining has 100% ownership of the SLM gold project in La Rioja, Argentina. Exploration at SLM has focused on identifying small tonnage mesothermal gold deposits which may be suitable for relatively near-term production.

ECR Minerals #ECR – Gold Focused Drill Programme to Commence – Victoria Region Australia

ECR Minerals plc (LON:ECR), the precious metals exploration and development company, is pleased to announce the commencement of its gold focused drilling programme at the Company’s Victoria Region gold projects in Australia.

HIGHLIGHTS:

  • A contract has been signed for 4,000 to 6,000m of reverse circulation (RC) drilling in Victoria, Australia by ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd (“MGA”).

Creswick Gold Project

  • Drilling at the Creswick gold project is expected to commence this week targeting multiple quartz vein orientations identified within the Dimocks Main Shale (“DMS”), which extends over a 15km trend, approximately 7km of which is covered by MGA’s granted exploration licence and exploration licence applications;
  • As announced on 25 September 2018 at Creswick the Company’s exploration mapping has identified a large gold system within the DMS;
  • The DMS is the hard-rock source of much alluvial and deep lead gold, with historical alluvial and deep lead production estimated at up to 2.5 Moz in the Creswick/Berry lead system, and up to 11 Moz in the entire Ballarat area, of which the DMS is a significant contributor.

Bailieston Gold Project

  • Following completion at Creswick, the drill rig will move to the Blue Moon gold prospect in the Bailieston project area to follow-up the significant near surface gold intercept and evidence of a near surface mineralised gold system as announced by ECR on 6 July 2018;
  • The drill target at Blue Moon is a sandstone which has been heavily weathered near surface, but may host higher grade gold mineralisation, including disseminated sulphides, at deeper levels.

Craig Brown, Chief Executive Officer of ECR Minerals plc, commented: “I am delighted to announce the commencement of this dual drill programme at Creswick and Bailieston which is seeking to test multiple gold targets across both projects.

This is an extensive drilling campaign by the Company, and one of the largest we have undertaken in recent times. ECR’s objective is to discover a multi-million ounce gold deposit in Australia and based on the significant technical work undertaken to date, we believe the Creswick and Bailieston licences hold the potential for such a discovery.

All the planned drilling is being undertaken from existing cash resources. The Company will be entitled to claim back a proportion of drilling costs under government grants subsidising drilling. As a result, and assuming on budget operations and cost recovery through grants, the entire programme is estimated to amount to under 20% of existing cash resources.

I would like to thank our technical team and advisers for their hard work in recent weeks to bring this programme together.

We will ensure material developments are released to the market as appropriate during the coming weeks and months.”

COMPETENT PERSON STATEMENT

The information in this announcement that relates to Exploration Results is based on information compiled by Dr Rodney Boucher of Linex Pty Ltd. Linex Pty Ltd provides geological services to Mercator Gold Australia Pty Ltd, including the services of Dr Boucher, who has a PhD in geology, is a Member and RPGeo of the Australian Institute of Geoscientists and is a Member of the Australian Institute of Mining and Metallurgy. Dr Boucher has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Dr Boucher consents to the inclusion in the announcement of the material based on his information in the form and context in which it appears.

MARKET ABUSE REGULATIONS (EU) No. 596/2014

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (MAR). Upon the publication of this announcement via Regulatory Information Service (RIS), this inside information is now considered to be in the public domain.

FOR FURTHER INFORMATION, PLEASE CONTACT:

ECR Minerals plc Tel: +44 (0)20 7929 1010
David Tang, Non-Executive Chairman
Craig Brown, Director & CEO

Email: info@ecrminerals.com

Website: www.ecrminerals.com
WH Ireland Ltd Tel: +44 (0)161 832 2174
Nominated Adviser
Katy Mitchell/James Sinclair-Ford
SI Capital Ltd Tel: +44 (0)1483 413500
Broker
Nick Emerson

ABOUT ECR MINERALS PLC

ECR is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Limited has 100% ownership of the Avoca, Bailieston, Creswick, Moormbool and Timor gold exploration licences in central Victoria, Australia and the Windidda Gold Project in the Yilgarn Region, Western Australia.

ECR has earned a 25% interest in the Danglay epithermal gold project, an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines. An NI43-101 technical report was completed in respect of the Danglay project in December 2015 and is available for download from ECR’s website.

ECR’s wholly owned Argentine subsidiary Ochre Mining has 100% ownership of the SLM gold project in La Rioja, Argentina. Exploration at SLM has focused on identifying small tonnage mesothermal gold deposits which may be suitable for relatively near-term production.

ECR Minerals #ECR confirms two directors participate in strategic financing

ECR Minerals plc (LON:ECR) the precious metals exploration and development company is pleased to announce that following the announcement of 17 December 2018 and following regulatory approval, the directors of the Company (David Tang and Craig Brown) have subscribed a combined total of £20,000 on the same terms as the financing set out in the earlier announcement resulting in the issue of 2,857,143 new ordinary shares.

In total, including the funds raised in the first part of the financing announced on 17 December 2018, ECR has raised £700,000 through the through the issue of 100,000,000 new ordinary shares at 0.70p per share (“Financing Shares”).

Each Financing Share has a warrant attaching to subscribe for a further new ordinary share in ECR Minerals plc at a price of 1.125p within two years of the admission date of the above financing shares resulting in the issue of 100,000,000 1.125p warrants.

ADMISSION OF STRATEGIC FINANCING SHARES AND TOTAL VOTING RIGHTS

Admission is expected to occur on or around 21 December 2018. Following Admission of the Financing Shares, ECR’s issued ordinary share capital will comprise 445,840,783 ordinary shares of 0.001 pence. This number will represent the total voting rights in the Company, and, following admission of both the placing and subscription shares, may be used by shareholders as the denominator for the calculation by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority’s Disclosure and Transparency Rules. The new shares will rank pari passu in all respects with the ordinary shares of the Company currently traded on AIM.

On Admission, Craig Brown will hold 2,977,842 ordinary shares representing 0.67% of the Company’s issued share capital. Likewise, David Tang will hold 1,428,572 ordinary shares representing 0.32% of the Company’s issued shares capital.

ABOUT ECR MINERALS PLC

ECR is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia has 100% ownership of the Avoca, Bailieston, Creswick, Moormbool and Timor gold exploration licences in central Victoria, Australia.

ECR has earned a 25% interest in the Danglay epithermal gold project, an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines. An NI43-101 technical report was completed in respect of the Danglay project in December 2015 and is available for download from ECR’s website.

ECR’s wholly owned Argentine subsidiary Ochre Mining has 100% ownership of the SLM gold project in La Rioja, Argentina. Exploration at SLM has focused on identifying small tonnage mesothermal gold deposits which may be suitable for relatively near-term production.

MARKET ABUSE REGULATIONS (EU) No. 596/2014

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (MAR). Upon the publication of this announcement via Regulatory Information Service (RIS), this inside information is now considered to be in the public domain.

FOR FURTHER INFORMATION, PLEASE CONTACT:

ECR Minerals plc Tel: +44 (0)20 7929 1010
David Tang, Non-Executive Chairman
Craig Brown, Director & CEO
Email:

info@ecrminerals.com

Website: www.ecrminerals.com
WH Ireland Ltd Tel: +44 (0)161 832 2174
Nominated Adviser
Katy Mitchell/James Sinclair-Ford
SI Capital Ltd Tel: +44 (0)1483 413500
Broker
Nick Emerson

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Craig Brown
2 Reason for the notification
a) Position/status Chief Executive Officer
b) Initial notification/ Amendment Initial
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) Name ECR Minerals PLC
b) LEI 213800PBXY96KXHISJ17
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a) Description of the financial instrument, type of instrument

Identification code

Ordinary Shares

GB00BYYDKX57

b) Nature of the transaction Subscription for shares
c) Price(s) and volume(s) Price(s)

Volume(s)

GBP£0.007

1,428,571

d) Aggregated information

  • Aggregated volume
  • Price

1,428,571 shares

GBP£0.007

e) Date of the transaction London, Off market
f) Place of the transaction 19/12/218

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Weili (David) Tang
2 Reason for the notification
a) Position/status Non-Executive Chairman
b) Initial notification/ Amendment Initial
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) Name ECR Minerals PLC
b) LEI 213800PBXY96KXHISJ17
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a) Description of the financial instrument, type of instrument

Identification code

Ordinary Shares

GB00BYYDKX57

b) Nature of the transaction Subscription for shares
c) Price(s) and volume(s) Price(s)

Volume(s)

1,428,572

GBP£0.007

d) Aggregated information

  • Aggregated volume
  • Price

1,428,572 shares

GBP£0.007

e) Date of the transaction 19/12/2018
f) Place of the transaction London, Off market

FORWARD LOOKING STATEMENTS

This announcement may include forward looking statements. Such statements may be subject to numerous known and unknown risks, uncertainties and other factors that could cause actual results or events to differ materially from current expectations. There can be no assurance that such statements will prove to be accurate and therefore actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking statements. Any forward-looking statements contained herein speak only as of the date hereof (unless stated otherwise) and, except as may be required by applicable laws or regulations (including the AIM Rules for Companies), the Company disclaims any obligation to update or modify such forward-looking statements because of new information, future events or for any other reason

EC

ECR Minerals #ECR – New Licence Applications – Australian Gold Portfolio

ECR Minerals plc (LON:ECR) the precious metals exploration and development company is pleased to announce the Company has submitted new licence applications to augment its existing gold exploration interests in the Victoria region of Australia.

Highlights:

  • Four new licence applications in Australia’s Victoria region have now been submitted by ECR’s 100% owned Australian operating vehicle Mercator Gold Australia Pty Limited;
  • Three applications have been submitted in the Bailieston/Moormbool gold project area to augment existing licences and secure available ground south and south and south west of an application submitted by Newmont Exploration Pty Limited in recent weeks;
  • One application has been submitted to augment ground in the Creswick project area and covers a southern portion of the Dimocks Main Shale (“DMS”);
  • As outlined in the Company’s market announcement of 25 September 2018 “The DMS sits between two large gold producing areas where it is estimated historically, 15 million ounces of gold has been produced in Victoria, Australia. It is the proposition of the Company’s technical team that they have identified the hard rock source for a significant portion of the aforementioned 15 million ounces of gold production. Although further work is required to validate this proposition”;
  • Further work is being undertaken to add additional licence application ground in Australia where the Company has identified strategic exploration opportunities.

Craig Brown, Chief Executive Officer of ECR Minerals plc commented: “I am delighted to announce today that the Company has successfully submitted four new applications which materially bolster our strategic ground holding and provide significant additional exploration opportunities for our Australian operations.

The recent application submitted by Newmont Exploration Pty Limited over a large area bordering our Bailieston and Moormbool gold projects is an important ratification of our strategic Australian gold positioning. The presence of Newmont adds weight to the potential prospectivity of the area.

ECR’s exploration work at Bailieston has recently demonstrated gold prospectivity as highlighted by the results of our Bailieston sampling programme announced on 28 September 2018 with gold grades up to 67.4g/t.

At Creswick and as announced on 25 September 2018 our exploration mapping revealed a large gold system, and reflecting our wider exploration work to date, we have taken the opportunity to secure more strategic ground south of our existing Creswick project area.

ECR continues to examine new opportunities and will move to secure additional ground where appropriate.”

FOR FURTHER INFORMATION, PLEASE CONTACT:

ECR Minerals plc Tel: +44 (0)20 7929 1010
David Tang, Non-Executive Chairman
Craig Brown, Director & CEO

Email:

info@ecrminerals.com

Website: www.ecrminerals.com
WH Ireland Ltd Tel: +44 (0)161 832 2174
Nominated Adviser
Katy Mitchell/James Sinclair-Ford
SI Capital Ltd Tel: +44 (0)1483 413500
Broker
Nick Emerson

ABOUT ECR MINERALS PLC

ECR is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia has 100% ownership of the Avoca, Bailieston, Creswick, Moormbool and Timor gold exploration licences in central Victoria, Australia.

ECR has earned a 25% interest in the Danglay epithermal gold project, an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines. An NI43-101 technical report was completed in respect of the Danglay project in December 2015 and is available for download from ECR’s website.

ECR’s wholly owned Argentine subsidiary Ochre Mining has 100% ownership of the SLM gold project in La Rioja, Argentina. Exploration at SLM has focused on identifying small tonnage mesothermal gold deposits which may be suitable for relatively near-term production.

EXCLUSIVE: Newmont Mining secures license area next to ECR Minerals’ Baileston gold project – Value The Markets

EXCLUSIVE: Newmont mining secures license area next to ECR Minerals’ Baileston gold project

 

There has been a very interesting development next to ECR Minerals’ (LSE:ECR) Bailieston license (EL5433) in Victoria, Australia. Newmont Mining Corp, one of the world’s largest gold producers has just applied for the license for a large block of land right next door. Although the license has yet to be awarded, if it is then this could prove to be a highly significant event for ECR

Excitement was already building for ECR’s 100% Bailieston gold project, given its relatively close proximity to a number of profitable, high-grade operations. The Fosterville gold mine is around 30km to the west and is currently the largest producing gold mine in Victoria. To the southwest, roughly the same distance, sits the Costerfield gold mine, which is another prolific produce.

As promising as the region Bailieston sits in already is, the recent move by Newmont could mark the start of something big for ECR. A company like Newmont typically dedicates a great deal of resources to due diligence prior to securing new licenses. A search of the Victoria State’s ‘GeoVic’ online database confirms it has indeed just applied for license EL006893, which borders Bailieston.

It seems that EL006893 has only become available within recent weeks, which suggests Newmont may have been keeping a close eye on it for some time. This might not be surprising given the resurgence of gold exploration in the region.

Traditionally Central Victoria has been an intensive gold producing area since the precious metal was first discovered there in 1850. In fact, it is only in recent years that Victoria’s gold output has been surpassed by Western Australia’s. Part of the recent revival has been driven by Kirkland Lake Gold, the owner of Fosterville, discovering more than 1.1m ounces of gold last year.

As well as the main EL5433 block shown on the map, ECR’s license also includes a smaller block (Black Cat) directly adjacent to the south of the area Newmont are showing interest in. The block used to be connected to the main section of EL5433, but due to local licensing rules explorers must drop 40% of the license after three years, and a further 40% after five years.

ECR also owns the Moormbool license (EL00628), which it secured in July 2017. The block is largely unexplored and covers approximately 59 square kilometres. This block sits south of Black Cat and the potential new license acquisition by Newmont, with the Costerfield Mine to the south-west currently producing 50,000 ounces of gold per annum. Costerfield is a below surface mine on block EL3310 consisting of narrow high-grade veins.

Then there is the Fosterville gold mine, which enjoys a very high 94% recovery rate, with a reserve grade of 23.1 g/t Au. It is estimated that approximate production costs at Fosterville are around AUD$880 per oz, compared with a current gold price of around AUD$1665 as of today. The mine is expected to produce 300,000 ounces in 2018 and is also rich in by-products such as silver.

Although GeoVic suggests Newmont’s status description for EL006893 is an “application”,  the implications of a major player swooping in to secure a large chunk of the area are clear. Regardless of whether Newmont is successful in its application, it clearly sees enough that it like to regard this specific area as worthy of future exploration work. For ECR Minerals this looks good news and the company seems to be very well placed to take advantage of a gold rush revival in the Central Victoria region.

Authors: Stuart Langelaan & Ben Turney

ECR Minerals #ECR CEO Craig Brown interview with Bonnie Hughes at Total Market Solutions

ECR Minerals #ECR CEO Craig Brown is interviewed by Bonnie Hughes, VP Red Cloud Klondike Strike Inc on Total Market Solutions. Craig discusses the recent gold assay sample results from the Bailieston Gold project, plus the Creswick Gold project, Avoca, Moormbool and Timor projects along with the due diligence undertaken on the upcoming Iceberg Gold project.

ECR Minerals #ECR – Bailieston Gold Project Australia – Additional Sampling Results

ECR Minerals plc (LON:ECR) the precious metals exploration and development company is pleased to announce the assay results of the second batch of rock chip sampling undertaken at the Company’s HR3 project at Bailieston (the “Project”) in Victoria, Australia.

The Company released the results from the first batch of sampling in its market announcement of 28 September 2018 further details of which can be found in the following link:

https://polaris.brighterir.com/public/ecr_minerals/news/rns/story/xlme9gr

Highlights:

  • Assay results from a further 75 rock chip samples over the ‘Bailieston’ project confirm gold mineralisation, with assays from 29 samples ranging from 0.56 g/t Au to 22.9 g/t Au;
  • Sampling has been extended south to the historic Cherry Tree reefs (HR4), where 53 rock chip samples out of the 75 samples have been taken. Results from 22 of these samples show the presence of gold mineralisation, assays ranging from 0.56 g/t Au to 8.15 g/t Au;
  • Repeat assay analysis on 12 selected higher-grade samples returned similar results, demonstrating some consistency in respect to the nature of the gold mineralization;
  • The assay for one sample (LX0819) which contained a speck of visible gold at sub-crop was not highlighted in the results (0.18 g/t Au), showing gold mineralisation in part can be coarse, therefore not reporting in the fire assay results.

Craig Brown, Chief Executive Officer of ECR Minerals plc, commented: “I am pleased to report the second batch of sampling data which, as with the first batch, has produced high grade gold in rock chip samples including samples taken from the Cherry Tree reefs.

The Company’s technical team are incorporating the findings into our project database and we are working on the next stage exploration programme to further examine the extent of gold mineralisation across the areas sampled.

In addition, the Company awaits the results of rock chip sampling undertaken at Creswick, where on 25 September 2018 the Company announced that exploration mapping had revealed a large gold system. The results from Creswick will be released to the market in the near term.”

Further information in respect of the Project Area and Historical Sampling

The Bailieston project area contains multiple reefs, including the Bryon, Scoulars and Maori Reefs that were drilled by the Company in 2017 (results provided in an announcement on 24 July 2017 ). These three reefs and adjacent reefs were sampled. From historic reporting and the Company mapping, these reefs are fault-hosted. Where observed, faults are up to 70 cm wide and contain quartz veins to 15 cm parallel to the faults and stockwork quartz within the fault zone and in the hanging wall and footwall sandstones and shales adjacent to the faults. However, due to the varying quality of the exposure in the open workings, it is not always possible to ascertain if the sampled material is from within the fault or in the hanging wall or footwall.

151 rock chip and mullock samples have been previously taken in the project area, although not all were undertaken by the Company and therefore not all the results can be verified. In the 1980’s Gold Mines of Kalgoorlie collected 16 samples with results reaching 2.1 g/t Au. A comprehensive sampling program in 2014 contained results reaching 23 g/t Au.

A summary of the sources of historical sampling is provided below:

  • 15 samples by Metals Exploration Ltd (later Gold mines of Kalgoorlie). Reported in the EL1616 Annual Technical Report September 1986;
  • 49 samples by Sierra Minerals, EL4719 Sept 2006 ATR;
  • 6 samples by Flitegold Ply Ltd (later Currawong Resources, later Mercator Gold), EL5433 Sept 2013 ATR;
  • 62 samples by Flitegold Ply Ltd (later Currawong Resources, later Mercator Gold), EL5433 Sept 2014 ATR plus an additional sample that was not submitted;
  • 1 sample by Flitegold Ply Ltd (later Currawong Resources, later Mercator Gold), EL5433 Sept 2015 ATR;
  • 13 samples by Flitegold Ply Ltd (and reported by Mercator Gold), EL5433 Sept 2016 ATR including the best assay of all the sampling of 23 g/t.

The Company’s own sampling program included testing of quartz veins plus the surrounding sedimentary host rocks. The samples containing the quartz veins were consistently higher grade. The results from this work is shown in Figure 9.5 of a Competent Persons Report to the Company announced on 20th April 2016. However, Figure 9.5 does not distinguish between the samples that have quartz from those that do not and was assayed by three differing laboratories. The current round of sampling therefore aims to gain a consistent set of samples, assayed by only one laboratory.

Mineralised Sample Table

Sample ID Easting Northing Au (ppm) Au_R (ppm)
LX0832 326756 5931071 22.9 22.6
LX0822 326667 5931246 17.1 17
LX0821 326565 5931299 12.8 11.5
LX0842 326779 5929949 8.15 8.8
LX0857 326719 5929831 4.38
LX0831 326748 5931076 4.22 4.17
LX0850 326729 5929888 4.11 4.21
LX0833 326764 5931089 3.59 3.43
LX0853 326733 5929870 2.7
LX0873 326801 5929793 2.48 2.29
LX0855 326760 5929873 2.41
LX0871 326797 5929793 2.3 2.13
LX0883 326816 5929836 2.06 2.23
LX0884 326703 5929753 1.76
LX0869 326785 5929792 1.55
LX0860 326720 5929799 1.54 1.43
LX0827 326700 5931243 1.39
LX0863 326757 5929808 1.12
LX0852 326695 5929886 1.1
LX0872 326797 5929792 1.04
LX0843 326774 5929951 0.99 1.06
LX0888 326663 5929650 0.92
LX0851 326715 5929862 0.76
LX0885 326687 5929700 0.72
LX0858 326708 5929835 0.68
LX0865 326762 5929810 0.58
LX0826 326639 5931235 0.56
LX0868 326777 5929810 0.56
LX0886 326686 5929700 0.56

NOTE:

1. All sample locations reported MGA 94 Zone 55.

2. Analysis by On Site Laboratory Services (ISO 9001 Registered), Bendigo, Australia.

3. Au_R (ppm): Repeat analysis of original sample

Table 1. Assay results of 29 samples greater than 0.5 g/t Au from the 75 rock chip samples submitted. Repeat analysis results for selected samples also shown.

COMPETENT PERSON STATEMENT

The information in this announcement that relates to Exploration Results is based on information compiled by Dr Rodney Boucher of Linex Pty Ltd. Linex Pty Ltd provides geological services to Mercator Gold Australia Pty Ltd, including the services of Dr Boucher, who has a PhD in geology, is a Member and RPGeo of the Australian Institute of Geoscientists and is a Member of the Australian Institute of Mining and Metallurgy. Dr Boucher has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Dr Boucher consents to the inclusion in the announcement of the material based on his information in the form and context in which it appears.

ABOUT ECR MINERALS PLC

ECR is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia has 100% ownership of the Avoca, Bailieston, Creswick, Moormbool and Timor gold exploration licences in central Victoria, Australia.

ECR has earned a 25% interest in the Danglay epithermal gold project, an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines. An NI43-101 technical report was completed in respect of the Danglay project in December 2015 and is available for download from ECR’s website.

ECR’s wholly owned Argentine subsidiary Ochre Mining has 100% ownership of the SLM gold project in La Rioja, Argentina. Exploration at SLM has focused on identifying small tonnage mesothermal gold deposits which may be suitable for relatively near-term production.

FOR FURTHER INFORMATION, PLEASE CONTACT:

ECR Minerals plc Tel: +44 (0)20 7929 1010
David Tang, Non-Executive Chairman
Craig Brown, Director & CEO

Email:

info@ecrminerals.com

Website: www.ecrminerals.com
WH Ireland Ltd Tel: +44 (0)161 832 2174
Nominated Adviser
Katy Mitchell/James Sinclair-Ford
SI Capital Ltd Tel: +44 (0)1483 413500
Broker
Nick Emerson

FORWARD LOOKING STATEMENTS

This announcement may include forward looking statements. Such statements may be subject to numerous known and unknown risks, uncertainties and other factors that could cause actual results or events to differ materially from current expectations. There can be no assurance that such statements will prove to be accurate and therefore actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking statements. Any forward-looking statements contained herein speak only as of the date hereof (unless stated otherwise) and, except as may be required by applicable laws or regulations (including the AIM Rules for Companies), the Company disclaims any obligation to update or modify such forward-looking statements because of new information, future events or for any other reason.

ECR Minerals #ECR – Sampling Programme Results from Bailieston Gold Project, Australia

ECR Minerals plc (LON:ECR) the precious metals exploration and development company is pleased to announce the assay results of the first batch of rock chip sampling undertaken at the Company’s HR3 project at Bailieston (the “Project”) in Victoria, Australia.

Further information in respect of this sampling programme was provided in the Company’s 14 September 2018 announcement, further details of which can be found in the following link:

https://polaris.brighterir.com/public/ecr_minerals/news/rns/story/xlm86pr

Highlights:

  • 76 rock chip samples submitted to the laboratory with assays confirming 22 samples contained gold mineralisation with gold grades ranging from 0.5 g/t to 67.4 g/t (2.17 ounces per ton);
  • Because some of the samples returned high grades, resampling was conducted for 14 mineralised samples in line with QA/QC procedures with repeat analysis demonstrating consistent results and gold grades ranging from 1.4 g/t to 75.5 g/t (2.4 ounces per ton);
  • The samples provide evidence of gold at surface across five target areas, albeit at an early stage of exploration, and demonstrate the potential prospectivity of the Company’s exploration ground, in addition to the existing gold mineralised key targets at Creswick and Blue Moon. But at this stage there is no indication it is economic;
  • These results compare to previous sampling of quartz veins plus the surrounding sedimentary rocks host rocks that tested the hypothesis that low-grade mineralisation may be found in the wall rock. The earlier results showed that the samples containing quartz veins were consistently higher, reaching 23 g/t Au. Further information in respect of historical sampling is provided below;
  • Further assay results are awaited in respect of the second group of 74 rock chip sample assays and those results will be announced to the market when received.

Craig Brown, Chief Executive Officer of ECR Minerals plc, commented: “I am extremely pleased to announce the results of the first batch of rock chip sample assays from the latest programme at Bailieston.

Whilst still early stage, the results complement the positive exploration progress at Blue Moon and the recognition of the potentially large gold system at Creswick announced 25/09/2018. Overall we are building a suite of mineralised targets in our Victoria projects and this is strongly supporting the conviction of the Company’s technical team as to the potential of the area covered by the Company’s licence tenements. Although at this stage there can be no guarantee that the gold is economically extractable.

Further announcements are anticipated in the near term in respect of the balancing Bailieston sampling programme and across the Victoria, Australia interests.”

Further information in respect of the Project Area and Historical Sampling

The Bailieston project area contains multiple reefs, including the Bryon, Scoulars and Maori Reefs that were drilled by the Company in 2017 (results provided in an announcement on 24 July 2017 ). These three reefs and adjacent reefs were sampled. From historic reporting and the Company mapping, these reefs are fault-hosted. Where observed, faults are up to 70 cm wide and contain quartz veins to 15 cm parallel to the faults and stockwork quartz within the fault zone and in the hanging wall and footwall sandstones and shales adjacent to the faults. However, due to the varying quality of the exposure in the open workings, it is not always possible to ascertain if the sampled material is from within the fault or in the hanging wall or footwall.

151 rock chip and mullock samples have been previously taken in the project area, although not all were undertaken by the Company and therefore not all the results can be verified. In the 1980’s Gold Mines of Kalgoorlie collected 16 samples with results reaching 2.1 g/t. A comprehensive sampling program in 2014 contained results reaching 23 g/t.

A summary of the sources of historical sampling is provided below:

  • 15 samples by Metals Exploration Ltd (later Gold mines of Kalgoorlie). Reported in the EL1616 Annual Technical Report September 1986;
  • 49 samples by Sierra Minerals, EL4719 Sept 2006 ATR;
  • 6 samples by Flitegold Ply Ltd (later Currawong Resources, later Mercator Gold), EL5433 Sept 2013 ATR;
  • 62 samples by Flitegold Ply Ltd (later Currawong Resources, later Mercator Gold), EL5433 Sept 2014 ATR plus an additional sample that was not submitted;
  • 1 sample by Flitegold Ply Ltd (later Currawong Resources, later Mercator Gold), EL5433 Sept 2015 ATR;
  • 13 samples by Flitegold Ply Ltd (and reported by Mercator Gold), EL5433 Sept 2016 ATR including the best assay of all the sampling of 23 g/t.

The Company’s own sampling program included testing of quartz veins plus the surrounding sedimentary host rocks. The samples containing the quartz veins were consistently higher grade. The results from this work is shown in Figure 9.5 of a Competent Persons Report to the Company announced on 20th April 2016. However, Figure 9.5 does not distinguish between the samples that have quartz from those that do not and was assayed by three differing laboratories. The current round of sampling therefore aims to gain a consistent set of samples, assayed by only one laboratory.

Mineralised Sample Table

SampleID Easting (m) Northing (m) Au Au(R)
LX0764 326,524 5,931,330 67.4 75.5
LX0770 326,707 5,931,382 20.8 22.5
LX0767 326,706 5,931,382 18.4 18.5
LX0765 326,520 5,931,319 13.9 15.2
LX0766 326,516 5,931,320 13 15
LX0758 326,479 5,931,407 8.33
LX0759 326,477 5,931,407 7.38 7
LX0757 326,487 5,931,405 6.81 7.96
LX0756 326,483 5,931,397 3.18 3.27
LX0769 326,691 5,931,344 2.31 2.38
LX0816 326,775 5,931,017 1.78 1.62
LX0745 326,317 5,931,411 1.4
LX0793 326,466 5,931,245 1.36 1.53
LX0800 326,553 5,931,211 1.31 1.56
LX0782 326,441 5,931,342 1.21 1.36
LX0805 326,650 5,931,101 1.18
LX0794 326,462 5,931,245 1.15
LX0768 326,658 5,931,316 0.97
LX0788 326,427 5,931,281 0.72
LX0747 326,362 5,931,402 0.64
LX0778 326,627 5,931,615 0.53
LX0750 326,360 5,931,399 0.5

Table 1. Assay results of 22 samples greater than 0.5 g/t Au from the 76 rock chip samples submitted (MGA 94 Zone 55)

Tested by: On Site Laboratory Services (ISO 9001 Registered), Bendigo, Australia

COMPETENT PERSON STATEMENT

The information in this announcement that relates to Exploration Results is based on information compiled by Dr Rodney Boucher of Linex Pty Ltd. Linex Pty Ltd provides geological services to Mercator Gold Australia Pty Ltd, including the services of Dr Boucher, who has a PhD in geology, is a Member and RPGeo of the Australian Institute of Geoscientists and is a Member of the Australian Institute of Mining and Metallurgy. Dr Boucher has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Dr Boucher consents to the inclusion in the announcement of the material based on his information in the form and context in which it appears.

ABOUT ECR MINERALS PLC

ECR is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia has 100% ownership of the Avoca, Bailieston, Creswick, Moormbool and Timor gold exploration licences in central Victoria, Australia.

ECR has earned a 25% interest in the Danglay epithermal gold project, an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines. An NI43-101 technical report was completed in respect of the Danglay project in December 2015 and is available for download from ECR’s website.

ECR’s wholly owned Argentine subsidiary Ochre Mining has 100% ownership of the SLM gold project in La Rioja, Argentina. Exploration at SLM has focused on identifying small tonnage mesothermal gold deposits which may be suitable for relatively near-term production.

FOR FURTHER INFORMATION, PLEASE CONTACT:

ECR Minerals plc Tel: +44 (0)20 7929 1010
David Tang, Non-Executive Chairman
Craig Brown, Director & CEO
Email:

info@ecrminerals.com

Website: www.ecrminerals.com
WH Ireland Ltd Tel: +44 (0)161 832 2174
Nominated Adviser
Katy Mitchell/James Sinclair-Ford
Optiva Securities Ltd Tel: +44 (0)203 137 1902
Broker
Graeme Dickson
SI Capital Ltd Tel: +44 (0)1483 413500
Broker
Nick Emerson

FORWARD LOOKING STATEMENTS

This announcement may include forward looking statements. Such statements may be subject to numerous known and unknown risks, uncertainties and other factors that could cause actual results or events to differ materially from current expectations. There can be no assurance that such statements will prove to be accurate and therefore actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking statements. Any forward-looking statements contained herein speak only as of the date hereof (unless stated otherwise) and, except as may be required by applicable laws or regulations (including the AIM Rules for Companies), the Company disclaims any obligation to update or modify such forward-looking statements because of new information, future events or for any other reason.

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