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#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)

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) – Strategic Financing and Business Update

ECR Minerals plc (LON:ECR) the precious metals exploration and development company is pleased to announce details of a strategic financing and business update for shareholders.

Highlights:

  • ECR Minerals has secured a strategic financing raising £680,000 through the issue of 97,142,857 new ordinary shares at 0.70p per share (“Financing Shares”);
  • Allowing for the existing cash at bank and the funds raised today, ECR has sufficient working capital against enhanced operational plans, until at least Q2 2020;
  • Each strategic 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 97,142,857 1.125p warrants;
  • Should all warrants be converted this financing would generate in excess of £1.77m before expenses for the Company;
  • In addition, the directors of the Company (David Tang and Craig Brown) would like to subscribe a combined total of £20,000 in addition to the above on the same terms as the Placing, subject to the outcome of regulatory approval. A further announcement will be made if they proceed;
  • Should the 5 day volume weighted average share price (“VWAP”) of ECR exceed 5.0p (five pence) the Company will have the right to accelerate conversion of any outstanding warrants;
  • The additional funds raised will be primarily applied to expansion of Australian operations including:
    • Additional extensive exploration programmes at the Company’s gold projects in Victoria Region;
    • This will include 4,000 metres of reverse circulation drilling at Blue Moon, Creswick and Black Cat prospects and 1,400 metres of scout drilling at Avoca prospect;
    • Review and due diligence of new corporate acquisition or business development opportunities in strategic and precious metals in Victoria and elsewhere in Australia.
  • Further updates to the market will be provided in the near term regarding the above Australian operational activities. In addition, following a further positive board visit to Argentina just completed, the Company expects to provide an update on Argentinian activities and opportunities, early in the new year.

Craig Brown, Chief Executive Officer of ECR Minerals plc, commented: “I am pleased to announce this additional financing which adds to the money raised in July and considerably bolsters our balance sheet working capital at a key time for the ECR business.

Market conditions in the resource sector have been challenging in the latter half of 2018, for companies of our size and we believe the ability to source additional financing at this time is a validation of our business model and plans.

ECR is in a financially robust position and can now push ahead with exploration and development across the business. In this regard ECR has a portfolio of projects in Australia which have yielded highly positive exploration results during our 2018 work programmes and deserve a proactive exploration approach.

We believe our gold interests in Victoria region in Australia have been validated by the large licence application submitted by Newmont Mining Pty Limited adjacent to our Bailieston and Moormbool projects. Moreover work at our Creswick project has revealed, through exploration mapping, a large gold system with exciting potential.

We have added additional ground with complementary licence applications recently announced, and we have more opportunities for new licences and new corporate activity to further bolster our business. The extent of our new opportunity pipeline is such that we are taking time to carefully select the primary opportunities.

Notwithstanding challenging conditions of late and what we perceive to be a general retrenchment in activity across the resource sector due to funding limitations, shareholders in ECR can be assured that the Company is well financed and operationally active, and we look forward to updating shareholders in due course on our activities.”

FURTHER INFORMATION

STRATEGIC FINANCING

ECR has secured a strategic financing raising £680,000 through the issue of 97,142,857 new ordinary shares at a price of 0.70p per share to support proactive development of its existing interests and to enable the Company to engage with new opportunities, principally in respect of Australian gold and strategic metal exploration.

Each strategic 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. Should the 5 day VWAP of ECR exceed 5p, the Company will have the right but not the obligation to accelerate the remaining warrants by issuing a 7 day notice of accelerated exercise to warrant holders. Any warrants not exercised after the 7 day notice period would lapse.

In addition, the directors of the Company (David Tang and Craig Brown) have indicated they would like to subscribe a combined total of £20,000 in the Placing, subject to regulatory confirmation. A further announcement will be made if they proceed.

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 442,983,640 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.

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.

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

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.

Share Talk Q&A with Craig Brown – Chief Executive Officer of ECR Minerals plc

We wanted to cover your Strategic Business Update released on 6 November 2018, but firstly should ask about your thoughts on market conditions?

How you feel about market conditions depends on positioning. 

For private and institutional investors conditions are pretty awful although there is evidently a keen search by investors for stocks to acquire that could be positive performers even in present market conditions.

We have to demonstrate that ECR is in that category through our work and communications about our progress.

For resource companies on the markets, those with established businesses and cash can keep working through the downturn phase and make ready for the upturn.

ECR raised money in July and as a result, has the working capital to run until Q3 2019 as previously publicised.  We are in a strong position operationally and financially and that makes us a positive investment proposition, in my view, at this time.

 

On the gold side of your business, Australia seems the focus right now.  Why is that?

The Victoria region has been a stunning producer of gold over the years and was the location of one of the great nineteenth-century gold rushes. What’s better is that we believe there is considerable gold still to be discovered, and we are exploring for it right now.

We are greatly heartened by the exceptional success of the Fosterville mine in Victoria, which has produced more than a million ounces of gold to date and has ramped up production significantly of late, announcing record quarterly gold production of 90,000 ounces in Q3 2018.  The mine is also notable for the discovery of significant bonanza grade mineralisation at depth in recent years.  Fosterville is located in the same district as ECR’s Bailieston and Moormbool gold projects.

Our strategic and well-publicised objective is to find a substantial multi-million ounce gold deposit in the region and we are on an exciting pathway.  We have published exploration results across a number of our many targets in the last few months and the results have been very exciting for the team.

We have already identified a gold system at the Blue Moon target and a large gold system at the Creswick target and more work is underway across the portfolio that will bring further updates to market.

In summation, we have multiple targets, very positive initial exploration results and our ongoing campaign is in full swing.  There is a lot to aim for here and we have the resources and capable in-country team to get the work done.

 

You have mentioned Argentina and opportunities there in respect of “corporate avenues”. Can you elaborate?

I can’t be too specific, but we are pro-active in the background in Argentina and are reviewing a number of project opportunities and corporate options that may have the potential to add value.

Adding value is one thing, but we appreciate crystallisation of value is paramount for shareholders and we are very switched on to that.

Argentina is a resource-rich country and largely supportive of mineral exploration and development.  We have strong and growing local relationships and there are increasingly more opportunities and more avenues we could pursue.  We are active in moving initiatives forward and will update shareholders as soon as we have material progress.

 

The Iceberg due diligence is taking some time, in fact, more than originally planned, why is that?

We have been presented with a lot of data and are going through all the information.

One thing is key, acquisitions should be structured well and project due diligence conducted very carefully.  If it takes more time to do a thorough job, all companies should do that and not be afraid to extend option periods. You protect shareholders that way.

Also, in the challenging conditions working capital is a scarce resource and there are a number of high potential projects available.  Our job is to apply working capital to the best options and the process of due diligence ensures we do just that.

 

What other gold opportunities are you considering?

We have a good pipeline of Australian gold opportunities mainly in Victoria, Western Australia and the Northern Territory.

Whether we will pursue any additional projects depends on multiple factors including a project’s fit within the Company alongside our other gold interests; whether the project costs are comfortably within our management and financial resources; and whether we can see a value crystallisation route for shareholders.

We are looking at early stage exploration and projects with existing resources.

 

Turning to energy metals and minerals can you explain what you mean by “interest from third parties”?

As a Company, we are very excited by gold as a commodity focus, and we know our current and potential investors are too.  That should not mean that we turn off to other opportunities and it has become increasingly clear to us that there is considerable interest in the energy metals and minerals segment.

The general interest of investors is a good thing and we need to be aware of that.  However, there are also a number of organisations external to ECR who are keen to build a pipeline in energy metals and minerals.

In fact, the evident strategic drive to build this pipeline is demonstrated by the potential offer of capital to finance new ventures should the company be able to identify suitably meritable projects.

What is particularly appealing is the interest in ECR to act as a vehicle for new opportunities in respect of gold and energy metals & minerals.

Market conditions may be difficult but that is giving us a real opportunity to stand apart from the crowd by building our business in this downturn phase. The cash at bank and potential third party engagement helps of course.

 

Can you give us an indication of the type of energy metal or mineral project you are looking for?

Again, its difficult to answer too specifically as that information should be centred on market announcements. However, we have identified through our network various interesting projects in Australia and elsewhere.  These are across multiple commodity categories including cobalt, copper, lithium, uranium and vanadium.

We want projects that our shareholders will appreciate and that can also engage the interest of new potential investors. We also want projects that can attract external finance with an emphasis on project level financing helping to reduce dilution at corporate plc level, something we know is very important to shareholders.

 

You seem very positive about the ECR business at the moment.  What excites you the most about the business?

The work that goes into the Company is relentless at times, especially now with so much underway.  So you need the excitement to keep you buoyed up.

I am delighted to be working closely with our Chairman David Tang, who apart from being very commercially minded, has an extensive network across many Asian countries and is able to bring ECR to the attention of that network.  We have plenty of support provided we build our business with projects of real merit and potential.

It feels like it is ECR’s time but an intensive amount of effort is going in to make that happen.

ECR Minerals #ECR – Strategic business update, energy metals and minerals pipeline

ECR Minerals plc (LON:ECR), the precious metals exploration and development company, is pleased to provide a strategic business update for shareholders.

Gold Projects

ECR currently holds gold interests in Australia, Argentina and the Philippines.

The Company has of late focused largely on the development of its 100% owned gold portfolio with an emphasis on projects in the Victoria region of Australia. Given the new and positive results from Australia our work continues at pace across multiple exploration activities and we will provide regular updates to market as further progress is achieved.

Our recent work in Argentina in respect of the 100% owned Sierra de las Minas project has highlighted a number of corporate avenues through which we could demonstrate and build shareholder interests in-country. In addition we continue to monitor developments in the Philippines to identify suitable options to recognise the value of our 25% interest in the Danglay gold project. All progress made will be announced to the market as material developments occur.

Complementing the existing gold portfolio we have been presented with a number of additional gold focused opportunities, the first of which, the Iceberg gold project which was announced on 3 August 2018, is under an option agreement.

In respect of the Iceberg project ECR continues to pursue due diligence activities. The due diligence process is covering a wide review of the project and this has been extended to include detailed examination of significant historical exploration work including extensive geochemical data. Our work on this continues and to allow for the detailed analysis being undertaken we have agreed a further one month extension of the option period to 1 December 2018 at no additional cost to the Company. We thank the proposed vendors for their support with this additional time extension.

In addition to the Iceberg project the Company has identified a number of strategic gold project acquisition opportunities which are also under review. Should any specific project advance to option or acquisition stage further announcements will be made to the market.

Recognising the range and depth of opportunities and the interest in ECR as a potential vehicle for new projects, we see a considerable advantage in building a diverse, low-cost and strategically significant portfolio of gold interests. We are aided in this regard by the currently poor market conditions, which is enabling gold opportunities to be acquired at a low cost entry level, well within the resources available within the Company.

Energy Metals and Minerals

The ECR team is aware of the very significant interest being shown in energy metals and minerals for battery technologies and general electrification demand.

The Company has received recent specific interest from third parties who have a strategic interest in the development of an energy metals and minerals pipeline. This interest extends to the potential injection of capital into new ventures should suitable energy metal projects of merit be identified and acquired by the Company.

Reflecting the potential for strategic support in this manner ECR has identified a number of energy metal and mineral opportunities that may be attractive and has a number of projects under due diligence at present.

Should any specific project advance to option or acquisition stage further announcements will be made to the market.

Craig Brown Chief Executive Officer of ECR Minerals plc commented: “ECR Minerals finds itself at a very interesting point in its development with a number of options for forward business development and growth.

The backdrop of difficult conditions in the junior resource sector has simply opened up multiple opportunities and although we would all like to see stronger market conditions generally, ECR is taking full advantage of the wide breadth of projects available.

Further updates to follow.”

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.

Share Prophets – Hopeful Samples Might Lead to a Glittering Share Rise for this Aussie Prospector – ECR Minerals #ECR

By Malcom Stacey

Hello Share Treaders. Down under there is a precious metals company called ECR Minerals (ECR). With gold values possibly set to rise in a difficult environment for most other shares, it might pay to have a gander at this one. ECR’s wholly-owned Australian subsidiary Mercator Gold Australia has Avoca, Bailieston, Moormbool and Timor gold exploration licences in Central Victoria.

The Aim-listed company claims that the latest assay results for the Bailieston field are promising. The company has taken 75 rock samples ‘confirming gold mineralisation’. I’m no expert, but I would say that might not be the same as finding big nuggets, but ECR seems quite chuffed all the same.

Roughly the same number of samples were taken earlier. And 22 of them also revealed gold traces: to the extent of 2.7 ounces per ton of rock. That may not sound a lot, but apparently, in gold mining terms, it’s quite hopeful. Assaying has also been extended to its Cherry Tree field, where many of the samples taken also show ‘gold mineralisation’.

And now the enterprise awaits the results of rock chip sampling undertaken in another area, Creswick. Earlier mapping had, we’re told, revealed a large gold system. Those results are expected soon and if promising, we might expect the share price to rise. But the company doesn’t only pins hopes on Australia. Its Argentine subsidiary, Ochre Mining, has 100% ownership of another gold project in La Rioja, Argentina.

Craig Brown, Chief Executive of ECR, says both batches of sampling at Bailieston in Victoria have produced high-grade gold. And it might pay to look for gold companies as a bit of a hedge against falling share prices. But of course, searching for mineable gold can be pretty risky.

A bit like drinking in the Punter’s Return.

 

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.

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