Home » Posts tagged 'craig brown'

Tag Archives: craig brown

High Grade Gold Assays from Drilling at Blue Moon Prospect Victoria, Australia

ECR Minerals plc (LON:ECR), the precious metals exploration and development company, is pleased to announce the receipt of significant gold assays in relation to the reverse circulation (RC) drilling programme recently completed at the Blue Moon prospect, which is located within the Bailieston gold project area in the state of Victoria, Australia.

ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd (“MGA”) has 100% ownership of the Bailieston project.

Significant intersections from three of twelve RC holes drilled by MGA at Blue Moon are reported below. Assay results for the remaining nine holes are pending. A map showing the location of drill holes completed at Blue Moon by MGA may be viewed through the following link:

https://www.ecrminerals.com/images/BBM_As_2019.jpg

Readers are advised to review the Company’s announcement dated 28 January 2019 regarding the commencement of the Blue Moon drill programme, which can be viewed through the following link:

https://polaris.brighterir.com/public/ecr_minerals/news/rns/story/x2q8qzx

Readers are also advised to review the Company’s further progress update announcement dated 28 February 2019 which highlighted the presence of visible gold in drill cuttings from Blue Moon, which can be viewed through the following link:

https://polaris.brighterir.com/public/ecr_minerals/news/rns/story/w3og3dw

HIGHLIGHTS:

  • Following the reporting of visible gold from hole number BBM007 (see 28 February 2019 announcement), assay results received for BBM007, BBM006 and BBM004 have shown both high grade intervals and significant widths of anomalous gold grades;
  • Significant intersections are reported in Table A below and include 2 metres @ 17.87 g/t gold from 57 metres down hole in BBM007 within a zone of 15 metres at 3.81 g/t gold from 51 metres;
  • In addition, BBM006 returned 3m @ 3.88 g/t gold from 170 metres down hole within a zone of 11 metres @ 2.42 g/t gold from 169 metres;
  • These results from Blue Moon indicate that a high grade zone exists within the target sandstone host and further results and work will be required to understand any concentration of mineralisation within shoots.

Craig Brown, Chief Executive Officer of ECR Minerals commented: “These results quantify the field geologists’ assessment of visible gold at Blue Moon during drilling of BBM007 and provide great encouragement for the Company and the Bailieston gold project.

To achieve an intersection of 17.87g/t gold over 2 metres is notable. But also of significance is that this was part of an intersection of 15 metres at 3.81g/t gold from relatively shallow depth.

The Company awaits further results from drilling across Blue Moon, Creswick and Black Cat and will provide updates to the market as appropriate.”

Further information

MGA completed three diamond drill holes (BBM001-3) at the Blue Moon prospect in 2018. The results of this drilling were announced on 6 July 2018, and the relevant announcement can be viewed here:

https://polaris.brighterir.com/public/ecr_minerals/news/rns/story/xp0773w

As previously announced, gold mineralisation at Blue Moon is associated with sandstone plus dykes intruding the sandstone and adjacent to it.

MGA’s 2018 diamond drilling did not obtain fresh sample from beneath the oxide zone. The twelve reverse circulation (RC) holes completed recently (BBM004-15) aimed to intercept the sandstone on 50 metre spacing across three sections and to gain samples from beneath the oxide zone.

BBM004 & 6 intercepted the host sandstone beneath the oxide zone. Logging recorded estimates of up to 4% pyrite and 2% arsenopyrite with minor quartz. No visible gold was seen in these samples.

The base of the oxide zone was at 64 metres in BBM007 within the host sandstone. Visible gold was seen in three samples (3 metres @ 13.4 g/t gold from 57 to 60 metres). It is possible these are elevated gold values as a result of supergene enrichment close to the base of the oxide zone.

Table A

Significant intersections from Q1 2019 RC drilling at the Blue Moon gold prospect

EL5433, Victoria, Australia

NB: intersections reported are apparent width.

Hole ID From To Interval (m) Grade g/t gold
BBM007
51 66 15 3.81
Inc 55 66 11 5.13
Inc 55 61 6 8.32
Inc 57 59 2 17.87
BBM006 169 180 11 2.42
Inc 170 173 3 3.88
Inc 176 180 4 2.21
& 199 203 4 1.19
BBM004 85 101 16 0.28
Inc 85 86 1 2.15
& 90 91 1 1.02

Table 2: Hole details

HoleID Easting Northing

Elevation

Zone

Hole Depth

Dec AziMag
BBM004 326158 5922563 166 55 120 -80 179
BBM006 326158 5922569 166 55 210 -90 179
BBM007 326158 5922565 166 55 78 -61 179

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 Ltd 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.

PODCAST: Craig Brown on ECR Minerals’ vast potential in Australia following flurry of project progress (ECR)

In today’s podcast, ECR Minerals Chief Executive Officer Craig Brown gives an overview of the company’s drilling activities and discusses the benefits of operating in Australia. ECR currently has two ongoing drilling campaigns across three prospects in the highly prospective Victoria region. Brown also explains the reasoning for its recent license acquisition in the Yilgarn region where its Windidda project is located and touches on his longer-term goals for the company.

This interview was recorded on 13th February 2019.

All opinions expressed are those of MiningMaven and the respective guests, unless otherwise stated and should not be construed as investment advice or a recommendation to buy shares in any featured Company. From time to time MiningMaven principals may take equity positions in companies featured. Listeners are advised to do their own extensive research before buying shares which, as with all small cap exploration stocks, should be viewed as high risk. Investors should also seek the advice of a qualified investment adviser or stockbroker as they deem appropriate. MiningMaven.com is a trading division of Catalyst Information Services Limited. Registered in England no. 06537074 (Registered Office Address 3rd Floor Ivy Mill, Crown Street, Manchester, M35 9BG) #gold #mining #investing

ECR Minerals #ECR – Experienced Geologist Sam Garrett joins ECR Board as Non-Exec Director

ECR Minerals plc (LON:ECR), the precious metals exploration and development company, is pleased to announce the appointment of Samuel James Melville Garrett (“Sam Garrett”) as a Non-Executive Director of ECR Minerals plc, with immediate effect.

Mr Garrett holds a Bachelor of Science degree with First Class Honours in Geology and a Master of Economic Geology degree, both from the University of Tasmania. He also holds a Master of Applied Finance degree from Macquarie University in Australia. Mr Garrett has 30 years of exploration management, project assessment and operational experience working for large multi-national and junior mining and exploration companies in ten countries including Australia, Argentina and the Philippines. Mr Garrett is a resident of Australia.

Craig Brown, Chief Executive Officer of ECR Minerals plc, commented: “I am delighted to announce the appointment of Sam Garrett to the board of ECR Minerals. Sam brings extensive geological experience onto the board, not just in Australia but also in South America and the Philippines, where the Company has existing business interests.

The timing of Sam’s appointment is key, as we look to rapidly advance our existing interests and continue to identify new strategic acquisition opportunities.

The ECR Minerals business is growing and developing at some pace and I look forward to providing further updates in the near future.”

The following information is disclosed pursuant to Schedule Two paragraph (g) of the AIM Rules:

Sam Garrett (aged 52) holds or has held the following directorships or partnerships in the past five years:

Current:

Metal Ventures Pty Limited

Rock Ratings Pty Limited

Ming Gold Pty Limited

Georgina Resources Pty Limited

Pacific Trends Resources Pty Limited

Pacific Trends Resources (Singapore) Pte Limited

Pacific Trends Resources Chile SpA

PTRS Myanmar Company Limited

Previous:

IndoAust Mining Pty Limited*

*IndoAust Mining Pty Limited was a company of which Sam Garrett was a director until the company ceased to trade, became dormant and was deregistered. The Australian Securities and Investments Commission (“ASIC”) deregistered IndoAust Mining Pty Limited on 18th November 2018.

Sam Garrett holds no shares in the Company and has confirmed that there is no further information to be disclosed pursuant to paragraph (g) of Schedule 2 of the AIM Rules. As a condition of his appointment, the Company has agreed to issue him with options to purchase 7,500,000 new ordinary shares of the Company (equating to approximately 1.68% of the Company’s current issued ordinary share capital) at 1.125 pence per share.

The options will vest immediately but will only become exercisable a) after six months of service by Mr Garrett and b) when the Company’s five consecutive trading day volume weighted average share price exceeds a 1.75p threshold. The options will be exercisable for five years from the vesting date. The other terms and conditions of the options shall be the same as for those options in the management and consultant option pool announced by the Company on 11 July 2018 (which have not yet been issued).

The Notification of Dealing Form, under the Market Abuse Regulation, for Sam Garrett can be found below.

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 Samuel Garrett
2 Reason for the notification
a) Position/status Non-Executive Director
b) Initial notification/ Amendment Initial notification
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 of 0.001 pence

GB00BYYDKX57

b) Nature of the transaction Grant of share options
c) Price(s) and volume(s)

Price(s)                         Volume(s)

1.125 pence per share          7,500,000

d) Aggregated information

  • Aggregated volume
  • Price

Price(s)                        Volume(s)

1.125 pence per share          7,500,000

e) Date of the transaction 22 February 2019
f) Place of the transaction London, United Kingdom

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 has 100% ownership of the Avoca, Bailieston, Creswick, Moormbool and Timor gold exploration licences in central Victoria, Australia and the Windidda gold project in 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.

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’s Craig Brown says new Yilgarn gold properties look “highly prospective” – Proactive Investors

Shares in ECR Minerals PLC (LON:ECR) moved up by almost 10% to 0.8p at the end of the first week of the year, following the application for licences over 1,600 square kilometres of new ground in the Yilgarn in Western Australia.

The ground has been identified as having significant potential for hosting Archean greenstone belts of the kind that host many of Western Australia’s and the world’s richest gold deposits.

READ: ECR Minerals moves into Western Australia

“It looks like very prospective territory,” says Craig Brown, ECR’s chief executive.

“Everybody regards Western Australia as a very promising area to work in.”

The opportunity on the new ground is enhanced because it comes with pre-existing data.

“There was some work completed in the 1980s and 1990s,” says Brown.

“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.”

One reason for that is that the rocks that may be mineralised lie under cover, so opportunities for geochemistry are limited.

But ECR is hopeful that the cover may be fairly shallow, and that exploration work will be relatively straightforward.

“The best way to test it is to do aircore drilling,” says Brown.

“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.”

ECR is unlikely to move on that until the licences have actually been granted, although Brown doesn’t see any real issue with that.

After all, the deal that’s wrapped around them is pretty attractive: for 19 licences the company must pay A$1,400 each, plus an annual rent, that takes the total cost up to only A$88,000.

“Hopefully they’ll be granted in the next quarter,” says Brown, “and we’ll move pretty quickly after that.”

Australia projects

In the meantime, work is continuing on ECR’s other Australian gold projects, in particular, Bailieston and Creswick.

“At Bailieston we want to go back and have a look at Blue Moon, Black Cat and Byron targets,” says Brown.

“We’re planning on conducting a small programme of drilling at Blue Moon in the current quarter of this year. We’re just budgeting the whole thing out. We drilled at Blue Moon in May 2018 and we came across a zone of mineralisation where all the rocks were weathered and you could see that the mineralisation had already been leached out of the rock.”

What was really interesting though, was that the mineralisation in question showed considerable similarity to Mandalay’s Costerfield mine, 25 kilometres away.

“They mine between 150 and 200 metres below the surface,” explains Brown.

We believe we can hit fresh rock and sulphides beneath the leached material that we’ve already intersected.”

So that’s one intriguing aspect of the project. Another is that Newmont picked up ground adjacent to Bailieston in December. So we’re not just talking about small companies operating on the edge of geological speculation here. The big players are coming in too.

Then there’s the Avoca licence, which is likely to be the subject of a 1,500-metre rotary air blast (RAB) programme shortly, and Creswick over in Victoria which will also be investigated.

Creswick, in particular, holds significant potential, according to Brown.

“We’re quite optimistic there’s something down there,” he says.

So lots to look forward to over the coming months, especially since ECR Minerals already has the money in the bank to pay for all this work.

There’s £1.2mln currently in the treasury, according to Brown, following two fundraising exercises undertaken last year: a £650,000 raise in July, and a £700,000 raise in December.

And that means that shareholders will be able to enjoy the full benefits of any positive newsflow without having to look over their shoulders to worry about dilution any time soon.

ECR has, in any case, a very supportive cornerstone investor in Shenyang Xinliaoan Machinery, a connection Brown brought with him when he joined ECR, acquired during his days operating in Central Asia.

All told, ECR looks to be on a secure footing going into 2019, with plenty of exciting newsflow to come, and the nice backdrop of a rising gold price to put it all into context.

Central Victoria gold rush revival continues as ECR Minerals applies for licensing at an additional four sites following Newmont’s application a few weeks ago.

  • Newmont Mining and ECR Minerals join Central Victoria gold rush revival 
  • Fosterville mine in Victoria expected to break production record 
  • Untouched potential in Victoria 
  • ECR Minerals fully funded through to June 2020 following strategic financing round

In recents weeks it was revealed that world’s second largest gold producer Newmont Mining (NYSE:NEM) had applied for the licensing of a large area of land in Victoria, bordering ECR Minerals (AIM:ECR) Bailieston and Moormbool gold projects.

ECR have responded by announcing four new license applications that will expand two of their existing holdings in the Victoria region. These include three strategically placed sites in the Bailieston/Moormbool project area which lie south and south west of the area Newmont recently applied for. It also includes an area that will expand the highly promising Creswick project over a southern portion of the Dimocks Main Shale (DMS) – which is believed to sit between two historically significant mining areas, estimated to have produced 15 million ounces of gold.

For ECR, Newmont’s application to move in next door was without a doubt further encouragement of the huge potential of their existing sites and appears to have encouraged them to move fast and extend licensing in strategic areas in the Victoria region.

ECR CEO Craig Brown said that the application submitted by Newmont bordering Bailieston and Moormbool gold projects “is an important ratification of our strategic Australian gold positioning.”

The presence of Newmont certainly adds weight to the potential prospectivity of the area. Brown added that 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.”

Victoria Gold Rush Revival

While the licenses all remain pending, the moves support what appears to be a highly promising revival for gold mining in the Victoria region.

Early this year Melbourne Mining Club chairman Richard Morrow told the The Australian Mining Review “The success of Kirkland Lake Gold at Fosterville has really lifted the profile of Victoria as a place to find gold, especially high-grade, underground mineable gold” (Australian Mining Review). The statement came after an estimated 1.7 million ounces worth approximately $2.85 billion was discovered at the mine in 2017 (Premier).

In November, Kirkland Lake Gold revealed the Fosterville mine located just 30km away from ECR’s Bailieston project had produced “exceptionally high grades”, with the mill grade in Q4

2018 averaging over 35.0 grams per tonne. Fosterville is now expected to break its own record quarterly production in the fourth quarter of 2018, pushing full-year predictions up to 330,000 ounces (Mining.com). Beyond this, it expects to achieve over 500,000 ounces per year by 2020.

Fostervilles ongoing success and the latest applications from ECR and Newmont certainly seem to support Richard Morrow’s statement. If accepted they will continue to push Victoria back into the spotlight amongst gold miners – a position it’s not held since the famous Victoria gold rush in the early 1850s.

Untouched potential in Victoria area

The 1850’s gold rush saw production skyrocket in Victoria as thousands of miners moved to the area after strong mineralisation was discovered in Ballarat in 1851. Levels were so significant that for a number of years gold output in Victoria exceeded that seen anywhere else in the world, bar the more extensive fields of California. Victoria’s greatest yield for one year was in 1856, when 3,053,744 troy ounces of gold were extracted.

However, by the early 1860s most diggers had moved North to New South Wales, then Queensland and across to Western Australia (WA), which now produces the majority of Australia’s gold. Despite this short period of extensive mining the state has still produced over 2,400 tonnes of gold or 32 percent of all the gold mined in Australia and 2 per cent of all the gold ever mined in the world. While WA has produced more, with 3,275.8 tonnes, much of this has been thanks to the booms of the last two decades where new technology has enhanced the discovery and extraction of gold.

WA has also undergone six separate development phases since the 1890s compared to Victoria’s initial rush in the 1850s as well as its current phase. However, contrasted on a yield per area basis, Victoria has an order of magnitude greater than any other Australian state producing an average of 10.8kg of gold / km2. Generating these significant levels of gold in such a period of time, without much of today’s technology would suggest the area remains full of potential – as the recent reports from Fosterville and ECR suggest.

If the old saying ‘the best place to find gold is in the shadow of the headframe of an old mine’ holds true then ECR are ideally placed to make the most of this golden opportunity. As well as Bailieston, they have licences granted in Avoca (EL5387), Timor (EL6278), Moormbool (EL6280) and Creswick (EL6184). As seen on the map above, all of these projects lie within close, if not direct proximity to historical sites known for significant levels of gold mining since the 1850s. These include; Ballarat, which ‘at its peak between 1852-1853 was recognised as probably the richest alluvial goldfield in the world, the Mt Alexander field at Castlemaine which in December 1851 was yielding 23,000 oz of gold a week, Creswick as already highlighted, as well as, Maryborough and Maldon (Earth Resources).

ECR Minerals fully funded through to June 2020

ECR has kicked off 2019 in style, signalling it’s ambitions to become a major Australia gold explorer with the announcement on January 2nd 2019 that it has applied for nine new exploration licences in an area called the Windidda gold project in Yilgarn, Western Australia. The Yilgarn Craton contains evidence of the oldest crust on Earth, and at almost 4km long, 1.5km wide and 500m deep, it’s world-famous Super Pit produces up to 800,000 ounces of gold per year alone.

There appears to be an overwhelming tide of evidence, both current and historical supporting further exploration and development at Central Victoria. While the Newmonts and Fostervilles will continue exploration and production at their own rate, based on the recent reports of high yields and strong yield per area results, it is ECR Minerals with 5 licensed sites and a host of additional plots pending that could be the investment opportunity of the century, and in pole position to capitalise on the untouched potential of Central Victoria. Clearly investors and shareholders think so too: ECR announced a strategic financing round, which together with warrants and shares totalling GBP1.77m will see the company fully funded to pursue operations through to June 2020. Directors Craig Brown and David Tang

both participated in the financing round. Either way, ECR investors could be sitting on a gold mine in the not so distant future.

By Harry Dacres-Dixon

References:

Australian Mining Review – http://australianminingreview.com.au/mining-in-victoria-good-as-gold/ 

Brand Communications – http://www.branduk.net/ecr-minerals-ecr-new-licence-applications-australian-gold-portfolio/

Earth Resources – http://earthresources.vic.gov.au/earth-resources/geology-of-victoria/exhibitions-and-Imagery/ history-mining-victoria

Mining.com – http://www.mining.com/kirkland-lake-golds-aussie-operation-breaks-production-record/ Premier – https://www.premier.vic.gov.au/bendigos-billion-dollar-gold-rush/

Value the markets – http://www.valuethemarkets.com/index.php/2018/11/15/exclusive-newmont-mining-secures-li cense-area-next-ecr-minerals-baileston-gold-project/

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

Kirkland Lake Gold – https://www.klgold.com/news-and-media/news-releases/default.aspx

Other companies http://kzr.com.au/wp-content/uploads/austocks/kzr/2018_06_20_KZR_1529488920.pdf

Vox Markets Podcast: Craig Brown CEO of ECR Minerals (ECR) and Alan Green on (ITX) (DEST) and (ECR)

Craig Brown, Chief Executive Officer of ECR Minerals #ECR discusses their nine new exploration licence applications in the Yilgarn region of Western Australia.

Alan Green CEO of Brand Communications talks about: Itaconix #ITX Destiny Pharma #DEST ECR Minerals #ECR

(Interview starts at 6 minutes 27 seconds)

I would like to receive Brand Communications updates and news...
Free Stock Updates & News
I agree to have my personal information transfered to MailChimp ( more information )
Join over 3.000 visitors who are receiving our newsletter and learn how to optimize your blog for search engines, find free traffic, and monetize your website.
We hate spam. Your email address will not be sold or shared with anyone else.