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ECR Minerals #ECR – Positive Results of Alteration Study – Creswick Gold Project, Victoria, Australia

ECR Minerals plc (LON: ECR), the gold exploration and development company focussed on Australia, is pleased to provide the following update on the Creswick gold project in Victoria, Australia, which is 100%-held by ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd (“MGA”).

As announced by ECR on 20 February 2020, Dr Dennis Arne, through his consultancy Telemark Geosciences, was retained to stain reverse circulation (RC) drill cuttings (chips) from MGA’s 2019 drilling at Creswick to test for the presence of ferroan carbonates. The results of the study have now been received.

HIGHLIGHTS:

  • Ferroan dolomite in wallrock and as quartz-carbonate composite chips has been identified in five drill holes from MGA’s 2019 RC drilling programme at the Creswick gold project;
  • Ferroan dolomite is characteristic of alteration around central Victorian gold deposits and indicative of gold-related hydrothermal fluid flow;
  • The strong development of ferroan dolomite in some holes can further assist to delineate auriferous shoots in those areas.

Craig Brown, Chief Executive Officer, commented:

“We are very pleased with the results of this study, which show good indications of hydrothermal fluid flow related to gold mineralisation in a number of drill holes at Creswick. Importantly, the variation in the results, with some areas ‘lighting up’ and others not, is potentially useful for identifying gold-bearing shoots.

This underlines the significant gold exploration potential we believe exists at Creswick, where our tenement position covers approximately seven kilometres of the Dimocks Main Shale (DMS) trend, of which our 2019 drilling tested only approximately 300 metres.”

DISCUSSION OF RESULTS

Ferroan dolomite in wallrock and as quartz-carbonate composite chips was identified in five drill holes from MGA’s 2019 reverse circulation (RC) drilling programme at the Creswick gold project: CSR008, 010, 012, 013 and 014.

The presence of ferroan dolomite is a positive indicator of hydrothermal fluid pathways, particularly where associated with quartz vein material, and allows metamorphic quartz to be distinguished from hydrothermal quartz veins.

As only a small proportion of the total samples from drilling at RC Creswick were reviewed for this study, the presence of ferroan carbonate elsewhere cannot be ruled out, particularly in oxide material where the staining is not effective but in which oxidised ferroan carbonates may be observed.

Given the nuggety nature of gold distribution in most typical central Victorian goldfields, reliance solely on gold assays for exploration may be misleading. While any anomalous gold will be significant in conventional assays, the presence of low values may represent false negatives that might lead to the premature downgrade of prospective structures.

Recognition of wallrock alteration independently of gold assays can be used to map the hydrothermal conduits that have potentially carried gold and provide support for mineralised structures in which gold assays are erratic. Accordingly, routine staining of RC chips to identify ferroan carbonates during logging has been recommended by Dr Arne for any future RC drilling at Creswick.

Dr Arne has also observed that if the stratigraphy is consistently dipping moderately to the west there is hydrothermal alteration and associated quartz veining stratigraphically below the Dimocks Main Shale, roughly below the historical surface workings at vertical depths between approximately 50 and 120 metres. Quartz-carbonate veining appears to be associated with sandstone units in the deeper intercepts where ferroan dolomite has been recognised through staining, and so is compatible with many other central Victorian deposits where sandstones adjacent to thick shale units behave in a brittle manner during deformation to create a host for gold mineralisation. Therefore mineralisation may not be restricted to the Dimocks Main Shale as the Company initially believed.

ALTERATION STUDY METHOD

The approach used involved staining washed RC chips with a mixture of potassium ferricyanide and Alizarin Red mixed with dilute (2%) hydrochloric acid. Ferroan dolomite and ankerite turn dark blue upon staining and ferroan calcite turns purple. Non-ferroan calcite will turn pink or red.

Siderite and magnesite do not react to this stain, so the mixed Fe-Mg carbonates observed at some Victorian gold deposits, such as Fosterville, will not react to the stain. Consequently, the amount of ferroan carbonate observed in RC chips following staining should be considered a minimum amount. The stain also does not work once the ferroan carbonates are oxidised, so samples above the logged base of oxidation were not selected.

Material from 34 one-metre intervals was tested in the study. These intervals were prioritized by MGA’s geological consultant Dr Rod Boucher based on known mineralised areas and logging of quartz-carbonate vein material in the RC chips. RC chips were sampled either from reject poly sample bags or duplicate split calico bags stored near Creswick. There was no material remaining for some samples from which elevated gold values had been obtained. Samples were washed to remove fines and then stained. After approximately a minute the RC chips were rinsed and photographed to document the staining reaction.

Review of Announcement by Qualified Person

This announcement has been reviewed 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 Australasian Institute of Mining and Metallurgy. Dr Boucher is a Qualified Person as that term is defined by the AIM Note for Mining, Oil and Gas Companies.

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 projects in central Victoria, Australia and the Windidda 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.

PBOC Easing Boosts Gold Price & Investment Case for Junior Gold Explorers

Investors seeking to capitalise on a bullish gold market in 2020, and in particular the next raft of discoveries, will no doubt be aware of the impact that the easing in monetary policy by the Peoples Bank of China (PBOC) has had across markets in China, still reeling from the CoronaVirus.

With the yellow metal long viewed as the definitive safe haven investment, markets have also seen a surge in interest at the more speculative end of the gold spectrum, most specifically across junior gold explorers. AIM listed ECR Minerals (AIM: ECR) is one such company currently in focus.

Creswick Potentially Transformational for ECR

Prior to the recent surge in the gold price, ECR had already seen a transformational 2019 in regard to developments across it’s six flagship projects.The final quarter saw developments across the explorer’s key Creswick project in Victoria, Australia, with ‘nuggety gold mineralisation’ confirmed in the Dimocks Main Shale (DMS) prospect at Creswick, some of which proved to be exceptionally high grade.

Creswick is viewed as a potentially transformational project for the company, particularly given that the highest grade duplicate result of 80.97 g/t gold came from a 1 metre interval that originally assayed 44.63 g/t, confirming the original findings announced on 8 May 2019.

On February 20th, ECR announced it had appointed Dr Dennis Arne to carry out a lithogeochemical study of cuttings (chips) generated by reverse circulation (RC) drilling at Creswick in 2019. Dr Arne is a preeminent consulting geochemist in Victoria, whose experience includes extensive consultancy at the highly successful Fosterville gold mine in Central Victoria owned by Kirkland Lake Gold. Bringing someone of this calibre in to review the drilling samples is a solid endorsement of Creswick’s potential, and has set tongues wagging amongst the investing cognoscenti across social media channels. In typical understated fashion, ECR said the results of the study “are anticipated to be valuable for the purposes of future exploration at the Creswick.”

Elsewhere in Central Victoria

Activity continues across ECR’s other projects in Central Victoria, with a number of potential exploration programmes for the Bailieston project, (including further drilling at the Blue Moon prospect), are under consideration, along with soil and stream sediment sampling in the Cherry Tree South and Ponting’s areas.

ECR Interests Realigned

With six key projects across Australia, a country estimated to have the largest gold reserves globally, ECR’s CEO Craig Brown and the board have taken the decision to realign the group’s many interests to focus on Victoria Gold Projects, (Creswick, Bailieston, Avoca, Timor & Moormbool) and the Western Australia Windidda Project.

In this regard, on February 5th the group announced the sale of the SLM Gold Project in Argentina to Hanaq Argentina SA, a Chinese-owned company engaged in lithium, base and precious metals exploration.

The move sees ECR retain an NSR (Net Smelter) royalty of up to 2% to a maximum of US$2.7 million in respect of future production from the SLM gold project. Craig Brown stated that he was.. pleased to retain exposure to potential upside from the SLM gold project in the form of a royalty on future production..we believe that Hanaq has the operational capabilities and access to Chinese investment capital necessary to put the SLM project into production. And more importantly, it aligns the group’s operational activities exclusively across the six key Australian projects.

Windidda Progress

While activities across the Victoria projects are well documented, (not least because of the the Bailieston project is adjacent to a prospect territory acquired in 2018 by global mining giant Newmont), ECR has been pushing ahead its Windidda Gold Project based in the Yilgarn region of Western Australia. This consists of a package of nine exploration licence applications covering a 1,600 square kilometre area with the potential to host orogenic gold deposits. At the end of January ECR published an update on Windidda, stating that four exploration licences had been granted in the north-eastern Yilgarn, and announced a further license award on February 20th.

Aside from Gold, the region is also highly prospective for nickel-copper-PGE (platinum group element) mineralisation, so consequently ECR has commissioned a consultant to complete additional geophysical modelling and a review of historical activity reports for areas to the south of Windidda to better understand the potential prospectivity of the project.

Undervalued

The sale of the SLM Gold project has certainly saved ECR from the ongoing costs associated with acquiring and running an exploration license. There was further good news on the funding front too, as the group also received a cash refund for research and development (R&D) expenditure of AU$555,212 (approx GB£295,515), added to which for the year to 30 September 2019, the group carried forward corporate income tax losses of AU$ 66,341,587 (approximately GB£35.3 million) which are expected to be available for offset against future taxable gains.

Despite this, the current market capitalisation of GB£3.6 million reflects little more than the value of the administrative work undertaken to secure the licenses, with no premium whatsoever for the results from Creswick or any of the other work undertaken to ascertain the prospectivity and value of ECR’s projects.

Safe haven

While it seems trite to discuss investment opportunities in the midst of the shock, havoc and terrible human cost wrought on China and the world by CoronaVirus, the event has already significantly impacted on many of the larger resource and energy groups who provide raw materials to satisfy China’s enormous burgeoning economy.

As already highlighted, the impact on the China stock market (and global markets) has to some degree been mitigated by quantitative easing measures by the PBOC, but the consequential weakness in resource and energy stocks has inevitably driven investors to seek returns elsewhere, i.e. gold. So on February 20th, Beijing cut the one-year loan prime rate to 4.05% from 4.15%, prompting China’s banks to further lower the benchmark borrowing costs for new corporate and household loans.

On the subject of rate cuts and easing, Neils Christensen, a journalist at leading bullion website Kitco stated on February 17th that analysts “remain optimistic that (gold) prices can push higher as easing from the People’s Bank of China could ignite a further drop in global interest rates.”

This view is backed by other pundits too. Ole Hansen, head of commodity strategy at Saxo Bank, said that economists are still trying to estimate the full impact the spreading virus will have on the global economy. He added that this uncertainty will continue to support gold prices. “We have seen monumental demand destruction this past month and that won’t be resolved anytime soon,” he said. “Central banks will be forced to ease again, but the question is just how much impact further easing will have.”

As China and the world struggles to get to grips with limiting the spread of CoronaVirus, the strength in the gold price looks likely to be sustained throughout the year. This strength is likely to be reflected in across junior gold mining explorers with strong project portfolios. With the raft of project developments and drilling updates scheduled for early 2020, ECR is likely to benefit from this continued focus.

by Alan Green

ECR Minerals (ECR) – Update on Australian Gold Exploration

ECR Minerals plc (LON: ECR), the gold exploration and development company focussed on Australia, is pleased to provide the following update on its activities, which are carried out through its wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd (“MGA”).

 

HIGHLIGHTS:

  • Lithogeochemical study by preeminent consulting geochemist commissioned for Creswick gold project in Victoria;
  • Exploration options for Bailieston project in Victoria being reviewed with the MGA technical team – programme to be announced shortly;
  • Additional exploration licence granted at the Windidda project in Western Australia;
  • Business development – the Company continues to review its commercial options for MGA’s Victorian gold projects following expressions of interest from third parties.

Creswick Gold Project, Central Victoria

MGA has commissioned Dr Dennis Arne to carry out a lithogeochemical study of cuttings (chips) generated by reverse circulation (RC) drilling at the Creswick project in 2019. Dr Arne is a preeminent consulting geochemist in Victoria, whose experience includes extensive consultancy at the highly successful Fosterville gold mine in Central Victoria owned by Kirkland Lake Gold.

Dr Arne will be working with fresh (unoxidised) RC chips from Creswick to determine whether the observed quartz veining is associated with the presence of ferroan carbonate. Ferroan carbonate is intimately associated with all Central Victorian gold deposits that have not been contact metamorphosed.

The amount of ferroan carbonate generally increases as mineralised structures are approached. It can therefore be used for vectoring within alteration systems associated with gold mineralisation, particularly when integrated with geochemical data, and can be used to distinguish between mineralised and non-mineralised quartz veins. The results of the study are anticipated to be valuable for the purposes of future exploration at the Creswick project. Further updates will be provided in due course.

Windidda Gold Project, Western Australia

Further to the Company’s announcement dated 27 January 2020, MGA has been granted an additional exploration licence comprising part of the Windidda project in the north-eastern Yilgarn region of Western Australia. MGA has withdrawn three exploration licence applications over areas now considered to be less prospective, and one further application remains in process.

Bailieston Gold Project, Central Victoria

The westernmost part of the Bailieston licence is approximately 30km east of Kirkland Lake Gold’s Fosterville gold mine, and abuts an exploration licence applied for by Newmont Exploration Pty Ltd to the north.

ECR is considering a number of potential exploration programmes for the Bailieston project, including further drilling at the Blue Moon prospect, where 2019 reverse circulation (RC) drilling by MGA returned an intercept of 2 metres at 17.87 g/t gold within a zone of 15 metres at 3.81 g/t gold from 51 metres in BBM007 (see announcement dated 14 March 2019 for full details of this drilling programme and its results), and soil and stream sediment sampling in the Cherry Tree South and Ponting’s areas.

Craig Brown, Chief Executive Officer, commented: “With the gold price having recently exceeded USD 1,600, the equivalent of almost AUD 2,400 in Australian dollar terms, there is currently a very high level of interest in gold exploration and mining in Australia, including in Victoria and Western Australia.

As well as seeking to add value through our own exploration activities, ECR is considering potential transactions which may create value for the Company and its shareholders. Although there can be no guarantee that any transaction will be progressed, the board are encouraged by the number of opportunities that are available. Further updates will be provided as appropriate”

Review of Announcement by Qualified Person

This announcement has been reviewed 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 Australasian Institute of Mining and Metallurgy. Dr Boucher is a Qualified Person as that term is defined by the AIM Note for Mining, Oil and Gas Companies.

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 projects in central Victoria, Australia and the Windidda 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 Minerals #ECR CEO Craig Brown updates on progress at Share Talk

ECR Minerals plc #ECR CEO Craig Brown updates on progress, provides his view on the Australian Gold exploration sector and discusses the recent sale of the SLM gold project at Share Talk. Link here

ECR Minerals #ECR – Sale of SLM Gold Project

ECR Minerals plc (LON: ECR), the precious metals exploration and development company, is pleased to announce the sale of its wholly owned Argentine subsidiary Ochre Mining SA (“Ochre”), which holds the SLM gold project in La Rioja, Argentina.

HIGHLIGHTS:

  • ECR retains an NSR royalty of up to 2% to a maximum of USD 2.7 million in respect of future production from the SLM gold project;
  • The purchaser, Hanaq Argentina SA (“Hanaq”), is a Chinese-owned company engaged in lithium, base and precious metals exploration in Northwest Argentina including Salta, Jujuy and La Rioja, with a highly experienced management team;
  • The sale allows ECR to focus on its core gold exploration activities in Australia.

Craig Brown, Chief Executive Officer, commented:  

“We are pleased to retain exposure to potential upside from the SLM gold project in the form of a royalty on future production, and we believe that Hanaq has the operational capabilities and access to Chinese investment capital necessary to put the SLM project into production, subject to the usual prerequisites. Moreover, the transaction enables ECR to concentrate its resources on our core gold exploration activities in Australia.”

Further Information

Ochre’s sole asset is the SLM gold project, which comprises seven mining licences in La Rioja, Argentina. Hanaq has purchased 100% ownership of Ochre from ECR. The consideration for the acquisition is the grant to ECR of a 2% net smelter return (NSR) royalty in respect of four of the licences, and a 1% NSR royalty in respect of the other three licences. The NSR is capped at USD 2.7 million in aggregate (across all licences). This is the equivalent of approximately £2.07 million, based on 1.3031 GBP/USD exchange rate (Bloomberg closing rate 04/02/2020).

The directors of the Company understand that the founder and CEO of Hanaq Group, of which Hanaq Argentina SA is part, is Mr Xiaohuan (Juan) Tang, who has a substantive track record in Latin America, including responsibility for the successful permitting of the Pampa de Pongo iron ore project in Peru in his former capacity as General Manager of Jinzhao Mining Peru. Pampa de Pongo is one of the largest iron ore deposits in Latin America. Mr Tang has degrees from Tsinghua University in China, and Imperial College, Cambridge University and Oxford University in the UK.

More information regarding the Hanaq group can be found at the following link:

http://www.hanaqgroup.com/en/index.html

Commencement of production at the SLM project under Hanaq’s ownership is not a certainty, and is subject, inter alia, to further exploration and feasibility studies being successfully completed (if deemed necessary by Hanaq) and to the necessary permits for production being obtained. Upon the receipt of any future royalties, the Company intends to apply the funds to its exploration and development activities.

The book value of Ochre and the SLM project in ECR’s unaudited half-yearly results for the six months ended 31 March 2019 was £1,072,210. In its audited financial statements for the year ended 30 September 2019, Ochre reported no turnover and no profits, and net assets of approximately £170,000 (equivalent). Ochre has one employee.

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 projects in central Victoria, Australia and the Windidda 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 Minerals #ECR – Update on Windidda Project, Western Australia

ECR Minerals plc (LON: ECR), the precious metals exploration and development company, is pleased to provide an update on the Windidda project in Western Australia which is held by ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd (“MGA”).

HIGHLIGHTS:

  • ECR’s 100%-owned Australian subsidiary MGA has been granted four exploration licences in the north-eastern Yilgarn region of Western Australia;
  • The licences form part of the Windidda project, which is now considered to be potentially prospective for komatiite hosted Ni-Cu-PGE as well as orogenic gold;
  • MGA has commissioned a consultant to complete additional geophysical modelling and review of historical activity reports for areas to the south of Windidda in order to better understand the potential prospectivity of the project.

Craig Brown, Chief Executive Officer, commented: ECR has had a busy start to the year, with work in progress in relation to the Windidda project in Western Australia, which is now considered to be potentially prospective for nickel-copper-PGE mineralisation as well as orogenic gold, and planning underway for fieldwork in the Bailieston gold project area in Victoria to commence in February.

We also continue to review a number of potential new projects and strategic developments for the Company, and will of course provide updates to the market as appropriate.”

Windidda Project Update

The Company’s 100%-owned Australian subsidiary MGA has commissioned a consultant to complete the following work in order to better understand the potential prospectivity of the Windidda project and the depth of cover:

  1. Review and assessment of all historical activity reports for relevant areas to the south of the Windidda project, including reports filed by North Ltd, BHP/Western Mining Corporation and Rox Resources Ltd.
  2. Modelling of newly identified airborne gravity data which partially covers two of the Windidda exploration licence applications. This data is additional to that modelled last year (see announcement dated 15 October 2019), and the results can be assessed and related to the previous magnetic modelling on equivalent lines.

Recent preliminary research into the geological setting of the project suggests that the southern parts are potentially prospective for komatiite hosted nickel-copper-PGE (platinum group element) mineralisation. Approximately 12km from the southernmost exploration licence application at Windidda, Rox Resources Ltd has estimated a JORC (2012) Inferred Mineral Resource of 573,000t at 1.63% nickel, 1.19% copper, 0.082% cobalt, 1.49 g/t palladium and 0.85 g/t platinum for the Olympia deposit within Rox’s Collurabbie project (see www.roxresources.com.au).

In late 2018, MGA applied for a total of nine exploration licences to comprise the Windidda project, of which four have now been granted. The remaining five licence applications are subject to objections to the expedited grant procedure from native title parties. MGA is considering its options in this regard, and may decide to rationalise the Windidda tenement package in light of the native title objections and the findings of ongoing technical work.

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 projects in central Victoria, Australia and the Windidda 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.

Alan Green talks Open Orphan #ORPH, ECR Minerals #ECR, Destiny Pharma #DEST, Mirriad #MIRI & RA Intl #RAI on Vox Markets podcast

Alan Green discusses Open Orphan #ORPH, ECR Minerals #ECR, Destiny Pharma #DEST, Mirriad #MIRI & RA International #RAI with Justin Waite on the Vox Markets podcast. Click on the image above.

ECR Minerals #ECR – Significant Research & Development Refund

ECR Minerals plc (LON: ECR), the precious metals exploration and development company, is pleased to provide an update in respect of a significant cash refund received by ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd (“MGA”) under the Australian government’s R&D Tax Incentive scheme.

HIGHLIGHTS:

  • ECR’s 100%-owned Australian subsidiary MGA has received a cash refund of research and development (R&D) expenditure of AUD 555,212 (approximately £295,515);
  • The qualifying activities pertain to research into turbidite-hosted gold deposits within MGA’s exploration licences in Victoria, Australia;
  • In addition, as at 30 September 2019, MGA had carried forward corporate income tax losses of AUD 66,341,587 (approximately £35.3 million) which are expected to be available for offset against future taxable gains.

Craig Brown, Chief Executive Officer, commented: “I am very pleased to announce the receipt of this cash refund by MGA, which provides a significant boost to the group’s cash position.

The gold price remains strong and we believe there is considerable and growing interest in respect of Australian gold exploration, and we have also observed strong interest in the Victorian goldfields where we have an active exploration portfolio.

Overall, the board believes the additional cash creates exciting opportunities for an entrepreneurial gold-focused company like ECR.”

FURTHER INFORMATION

The refund received relates to qualifying expenditure made by MGA in the fifteen months ended 30 September 2019. The accounting period is fifteen months long rather than the usual twelve months as MGA’s financial year-end has been changed to 30 September from 30 June in order to align it with the rest of the ECR corporate group.

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 projects 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.

Financial Times – UK Small-Cap Miners Hold Promise for Investors

Article by the Financial Times

ECR Minerals Craig Brown, chief executive of ECR Minerals, insists he is “not a goldbug, not fixated on gold”.

Nonetheless, ECR’s main business is exploring for gold deposits and it is planning mines in the Australian states of Victoria and Western Australia.

Mr Brown said gold mining is commercially appealing because the purification process is simple and the metal is a durable store of value.

ECR’s sites are still in the early stages of proving viability and are years away from commercial operation. In Victoria, the company is testing mineral samples for gold content to determine the extent and purity of deposits.

Mr Brown described the Western Australia project as “relatively greenfield, we’re not even talking about resources yet, we’ve got to drill some holes first”.

He maintains that ECR’s above-ground surveys give the company good reason to think that gold may be below.

Gold prices have risen by about 15 per cent over the year to $48 a gramme as investors have sought refuge from market turbulence.

ECR is listed on Aim and its shares currently trade at 0.7p. The price rose sharply in March and April after a series of positive findings from drilling in Victoria, but it has dropped back again and is currently down 7 per cent since January. Its market capitalisation is £3.2m.

ECR Minerals #ECR – Exploration Commences at Henry’s Hill – Avoca Gold Project – Australia

ECR Minerals plc (LON:ECR), the precious metals exploration and development company, is pleased to announce the commencement of gold exploration at Henry’s Hill within the Company’s Avoca gold project.

Craig Brown, Chief Executive Officer commented: “The ECR team are excited to feed Henry’s Hill at the Avoca gold project, into the pipeline of projects under exploration in Victoria.

The Avoca Gold Project is one of five projects held by ECR in the Victorian Goldfields region, with four projects at Avoca, Bailieston, Creswick and Timor now the subject of active exploration or project development operational activity.

We are delighted be highly active in the Victoria Goldfields region, at a time when the area is attracting considerable interest from larger companies and investors.”

Highlights:

  • Previously, ECR geologists have taken 7 rock chip samples from the roadside reserve at Henry’s Hill. The samples were taken approximately 5m from each other at various intervals across shallow pits on the roadside reserve. All seven samples were independently tested by Onsite Laboratory Services.
  • Three of these samples returned 5.1, 1.4 and 1.3 g/t gold;
  • ECR have secured land access permission from the landowner and will commence soil geochemistry and field mapping imminently;
  • The soil geochemistry will be undertaken in an attempt to locate the loci of the mineralised shoot/s;
  • In addition, the work will examine the potential for the mineralisation to extend under cover to the east and the potential continuation of mineralisation to the west;
  • Geological mapping conducted in conjunction with the soil geochemistry will attempt to better define the controls on the shoots.

Henry’s Hill Background

Henry’s Hill is located within EL5387 and is 10 km north of Avoca in central Victoria.

The area to be explored is historically known as Henry’s Hill but is also known to the locals as Wolfram Hill due to the presence of the tungsten-bearing ore that was mined along with gold.

Within Henry’s Hill there are shallow historic workings in a zone over 800 m long and up to 100 m wide and which can be seen through the link below:

https://www.ecrminerals.com/images/Projects/AHH_Henrys_Hill_Google_Earth.jpg

The zone has been worked to alluvial cover to the east and so may extend an additional 200 m to the tenement boundary. The workings die out to the west potentially as the influence of the faults diminishes.

The area was mapped in 1950 by government geologist D Thomas, who identified a series of north-dipping faults dissecting NW trending sediments. The most likely geological reconstruction has these faults intersecting a north-plunging anticline under cover to the east. This relationshipis hypothesised to explain the faults diminishing to the west and will be investigated during field mapping.

The presence of tungsten is a good indicator of the influence of magmatic fluids. Granites occur at the surface to the north. Further evidence for granite-related mineralisation will be sought during the exploration work.

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 Australasian 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.

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