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ECR Minerals #ECR launches new Corporate Website

ECR Minerals plc (LON:ECR), the precious metals exploration and development company, is pleased to advise that the Company has now launched a new corporate website which can be viewed at: www.ecrminerals.com

Craig Brown, Chief Executive Officer commented: “Reflecting the considerable developments within the Company’s Australian gold project portfolio, and as part of our enhancement of corporate communications tools and initiatives, I am delighted to launch our new corporate website.

Alongside our ongoing market regulatory announcements, the Company will utilise the new website to provide updated project information, corporate regulatory information and other useful material to assist investors’ understanding of our value proposition.”

FOR FURTHER INFORMATION, PLEASE CONTACT:

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

info@ecrminerals.com

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

ABOUT ECR MINERALS PLC

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

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

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

ECR Minerals #ECR wholly owned subsidiary Mercator Gold receives R&D development refund of approx GBP171k from Australian Government

ECR Minerals plc (LON:ECR), the precious metals exploration and development company, is pleased to provide an update in respect of a Research and Development refund received under the R&D Tax Incentive from the Department of Industry, Innovation and Science of the Australian Government.

Highlights:

  • Mercator Gold Australia Pty Limited (“MGA”) ECR’s 100% owned Australian subsidiary has received a cash Research and Development refund of A$318,971.73 (approximately £171,000);
  • The refund received relates to qualifying expenditure incurred by MGA in the year ended 30 June 2018;
  • In addition, MGA is entitled to submit a further claim for the year ended 30 June 2019 and based on current estimated qualifying expenditure the amount of the claim for the period to date will be approximately A$370,000 (approximately £198,000) which the Company would expect to receive in around August 2019, although there can be no guarantee that this amount will be obtained;
  • Finally, included within the MGA Tax Return for the year ended 30 June 2018, MGA has carried forward corporate income tax losses of A$66,203,862 (approximately £35.5million) in respect of historical losses which are available for carry forward.

Craig Brown, Chief Executive Officer commented: “I am pleased to confirm the receipt of a significant cash refund by MGA our Australian subsidiary. This incoming cash augments existing cash resources and will applied toward the Company’s active gold exploration programmes in Australia.

A further refund claim will be made for the year ended 30 June 2019 and based on current qualifying expenditure, we anticipate a claim of A$370,000 against which we would expect to receive cash payment around August 2019, based on our current planned financial accounts and tax reporting schedule although there can be no guarantee that this amount will be obtained.

We are grateful for the immense support offered by the Australian Government which we believe demonstrates the attractiveness of Australia as a destination for investment in exploration and development projects.

As a result of Government support, the Company’s cash resources are bolstered, enabling it to maintain a considerable and active exploration programme.”

MARKET ABUSE REGULATIONS (EU) No. 596/2014

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

FOR FURTHER INFORMATION, PLEASE CONTACT:

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

info@ecrminerals.com

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

ABOUT ECR MINERALS PLC

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

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

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

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

ECR Minerals plc (LSE:ECR), the precious metals exploration and development company, is pleased to provide an update in respect of the Company’s exploration programme at the Creswick gold project (the “Project”) in Victoria, Australia.

Highlights:

  • The Company has completed 1,687 metres of reverse circulation drilling in 17 holes at the Creswick gold project targeting multiple quartz vein orientations within the Dimocks Main Shale (“DMS”);
  • Drilling identified more extensive quartz than anticipated, in a zone exceeding 60m in width (more than twice the 25m width expected) with quartz identified in over one third of the 1,687 metres drilled;
  • The majority of drill results have now been received and are being reviewed by the Company’s technical team. Of the 17 holes drilled the Company has identified gold mineralisation in all holes so far with grades in 9 holes ranging from 0.6 g/t gold to 44.63 g/t gold (1.44 oz per tonne);
  • Technical review of the drill programme and assay results has confirmed elements of the complex geology at Creswick and confirmed that the gold mineralisation is ‘nuggetty’ in nature;
  • Nuggetty gold distribution can lead to understated assays, as the larger the nuggets the less the chance they will be captured in the drilled metre. Compounding the problem is only a small portion of each reverse circulation sample bag is actually tested. Conversely results can be overstated if the nugget happens to be captured in the small sample;
  • ECR has therefore commenced a process of gravity concentration tests from whole of bag samples from the reverse circulation drilling and will release results as the more representative whole of sample bag analyses are conducted;
  • From a trial sample bag tested from hole CSR011 a nugget has been found in the previously untested portion of the sample and overall the sample has demonstrated gold of 11.8 g/t from whole-of-bag gravity concentration, some 528% greater than the 1.88 g/t assay result;
  • Until further extensive whole-of-bag tests have been completed the results of the assays from the drilling program may be unreliable as indicators of true grade at this stage;
  • The work undertaken indicates that we believe there is potential for a very substantial gold deposit within the DMS as highlighted previously by the Company’s technical team and ECR is now accelerating the highly important gravity concentration tests as outlined;
  • A fuller explanation of the nugget effect and its implications is provided below and further updates will be announced to market as soon as practicable.

Craig Brown, Chief Executive Officer commented: “The work we are undertaking at Creswick is highly exciting given the transformational potential this large footprint gold system offers.

The question we have to answer is how much gold does the DMS hold that would be amenable to a bulk tonnage gold mining operation. We are closing in on the answer and the directors believe that the outcome has the potential to be Company transformational and is therefore deserving of our close attention.

We eagerly await the findings from the whole of bag gravity concentration work and will report back to the market as significant developments occur.”

Background:

Within the Company’s announcement dated 25 September 2018 it was confirmed that exploration mapping undertaken by the Company at the Project had identified a large gold system in the Dimocks Main Shale (“DMS”) gold targets. The announcement can be viewed through the following link:

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

The DMS sits between two large gold producing areas in Victoria, Australia where it is estimated that, historically, 15 million ounces of gold has been produced. It was the proposition of the Company’s technical team that they had identified the hard rock source for a significant portion of the aforementioned 15 million ounces of gold,. although further work was required to validate this proposition.

A visual representation of the DMS and the Company’s mapping, which demonstrates the potential link from the alluvial source with the DMS, is provided through following links to the ECR Minerals website:

https://www.ecrminerals.com/images/Creswick_Map1.jpg

https://www.ecrminerals.com/images/Creswick_Map2.jpg

Reverse Circulation Programme:

On 28 January 2019 the Company announced the commencement of a reverse circulation drilling programme targeting multiple quartz vein orientations identified within the DMS.

The majority of drill results have now been received and are being reviewed by the Company’s technical team. Of the 17 holes drilled the Company has identified gold mineralisation in 9 holes so far with grades ranging from 0.6 g/t to 44.63 g/t (1.44 ounces per tonne).

Further information in respect of the drill programme and the complete assay results will be provided in due course when all results have been received and analysed by the Company’s technical team; and alongside other important exploration and investigative work as outlined below.

Gold Nugget Effect – Creswick Project

The gold mineralisation at the Project is reef gold, with alluvial free gold which has eroded from the reef into the surrounding gullies. This means that in our earlier work we identified that a proportion of the in-situ gold has a nuggetty distribution across the DMS.

The drill testing programme was designed to examine this proposition, and the indications thus far demonstrate that the proposition of an extreme nuggetty distribution rather than major, minor or none. This is not unusual in these gold systems and Bendigo and Wattle Gully (Castlemaine) have an extreme nugget effect, whereas other deposits in Victoria and elsewhere are less (Dominy et al. 2004).

The State of Victoria in Australia is renowned for large gold nuggets and in the list of nuggets published by the Geological Survey of Victoria (Dunn, 1912) it is reported there was a 112 oz nugget found in a mine understood to be adjacent to one of the Company’s drill locations at the Project (hole CSR014). In addition, it is reported several nuggets over 100 oz were found in the vicinity of the Company’s drill targets and nuggets up to 625 oz further south in alluvial gullies downstream from the DMS.

The reverse circulation drilling programme has identified gold mineralisation, and the higher grade identified by the whole-of-bag test, indicates the potential for significant grades. With nuggetty gold however, the traditional assay testing can materially understate or overstate the gold in the samples.

The reason for this potential understatement is that nuggetty gold may be missed when samples from the reverse circulation drill holes are sent for assay. This arises from having the gold concentrated in a few large particles reducing the chances of a gold particle being captured in a small sample.

In respect of the Creswick programme typically 1 metre of reverse circulation drilling collected a 30kg sample. From each 30kg sample bag typically 2kg was sent to the assay laboratory, pulverised and subjected to the Leachwell method of analysis.

This means that from each 1 metre sample bag 93% of the contents were not initially tested and any nuggets within that untested portion of the sample would not be represented in the assay data.

The Company could have tested whole-of-bag samples from the beginning of the process, but that would have been a costly exercise prior to drilling completion, analysis of samples and initial assay testing.

With the benefit of the initial field work and sample analysis, together with guidance from the incoming assay results, the Company’s technical team has concluded that testing of the whole contents of each sample bag is required to fully assess the gold content.

After consideration of various methods the Company determined that the entire 30 kg sample in each bag should be subject to a gravity concentration test.

A trial bag has been tested and a 6.4mm 0.27g nugget was found in material from a 22.9kg sample bag. This which equates to 11.8 g/t from hole CSR011. The actual assay result for the 2kg sample from CSR011 was only 1.88 g/t. This reliably demonstrates that for the first bag fully tested by gravity concentration the initial assay test had understated the gold content by 84.2%.

As a result, the Company is now processing further whole-of-bag samples through the gravity concentration testing process.

Whilst there can be no certainty that additional bags tested will contain higher quantities of gold, it is unlikely that the testing will not find a degree of repetition of this type of result recognising what is now known about the DMS geology.

Should however the Company find in the testing process that considerable gold is identified, in nugget form, this may indicate a substantial in-situ gold deposit which may be amenable to a bulk tonnage mining operation.

Further testing is ongoing at present and the Company will be releasing regular updates with regard to this very important work.

REFERENCES

Dominy, S. C., Cuffley, B. W., McCarthy, P. L., Thomas, O. K. & Hill, R. L., 2004. The challenges of evaluating and exploiting gold-quartz reefs in the Central Victorian Goldfield, Australia. The AusIMM New Leaders’ Conference, Ballarat. pp121-141

Dunn, E. J. 1912. List of nuggets found in Victoria. Geological Survey of Victoria. Memoir 12.

Table 1. Tabulated intersections (> 0.5 g/t gold).

HoleID Interval (m) From (m) To (m) Grade (g/t gold)
CSR006 1 15 16 44.63
CSR012 1 52 53 2.49
CSR011 1 12 13 1.88
CSR002 1 12 13 1.43
CSR009 1 4 5 1.27
CSR010 1 10 11 1.21
CSR002 1 36 37 1.09
CSR015 1 38 39 1.03
CSR005 1 12 13 0.95
CSR003 1 26 27 0.90
CSR002 1 69 70 0.76
CSR002 1 9 10 0.64
CSR011 1 6 7 0.63
CSR012 1 17 18 0.61

Table 2. Hole details.

Hole ID Easting (m) Northing (m) Elevation (m) Zone Hole depth (m) Delination Azimuth
CSR001 759325 5854691 533 54 78 -50 278.5
CSR002 759328 5854697 533 54 84 -70 278.5
CSR003 759355 5854688 534 54 97 -85 278.5
CSR004 759329 5854691 533 54 114 -60 280.0
CSR005 759305 5854648 535 54 120 -50 278.5
CSR006 759316 5854651 535 54 133 -60 278.5
CSR007 759341 5854651 535 54 73 -60 278.5
CSR008 759338 5854651 535 54 91 -85 278.5
CSR009 759301 5854580 539 54 60 -50 278.5
CSR010 759301 5854581 539 54 90 -80 278.5
CSR011 759326 5854710 531 54 60 -50 278.5
CSR012 759328 5854710 531 54 91 -85 278.5
CSR013 759327 5854710 535 54 204 -60 281.0
CSR014 759420 5854696 539 54 176 -60 98.5
CSR015 759354 5854824 538 54 78 -50 278.5
CSR016 759356 5854823 538 54 60 -80 278.5
CSR017 759326 5854868 540 54 78 -60 98.5

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.

ShareProphets – Do You Feel Lucky, Punk? This Small Gold Explorer May Hit the Jackpot – or Not

By Malcolm Stacey – ShareProphets

Hello Share Turners. Say what you like about Fulham-based ECR Minerals (ECR) it is a mining company which likes to keep its shareholders up to date for every step of the way. It seems to me hardly a week goes by without it posts some news or other. The danger is that we tire of reading everything and consequently miss something which is important.

ECR describes itself as a precious metals exploration and development company. Its exploring for gold in the state of Victoria, Australia. Now you need the mining expertise of my brainy Shareprophets colleague Gary Newman to understand this company’s many pronouncements.

But it seems to me from their latest bulletin, that recent exploratory drilling may be encouraging. It points to a possibility of accessible gold at its Black Cat holding in the state of Victoria. ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd has 100% ownership of the project. I believe some deeper drilling is now required.

The Black Cat area has not been mined before, so I suppose anything might happen. But the company’s CEO Craig Brown said ‘I’m delighted with the positive outcomes from this programme. As well as some encouraging grades, the drilling has provided important geological information which may help vector further exploration in the project area towards achievement of ECR’s prime strategic objective, which is the discovery of a multi-million ounce gold deposit.”
Well, that’s not exactly mind-blowing news, and you can expect him to be optimistic. But imagine the jump in share price if a ‘multi-million ounce gold deposit’ is found out there. As always, there is a huge investment risk in exploring for gold. And the safer way to invest in the big glitter is choose already successful miners.

But if you’re not adverse to highly speculative punts (though I am) and you only consider a small outlay, then ECR might be worth some further research.

Unlike the Punter’s Return.

Link to ShareProphets article here

ECR Minerals #ECR – New Gold Discovery – Blue Moon Deposit, Victoria, Australia

ECR Minerals plc (LON:ECR), the precious metals exploration and development company, is pleased to announce further results from the reverse circulation (RC) drilling programme completed in February and March 2019 at the Blue Moon gold prospect in the state of Victoria, Australia.

The Blue Moon prospect is located within the Bailieston gold project (EL5433), which is 100%-owned by ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd (“MGA”).

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

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

Readers are also advised to review the Company’s announcement dated 14 March 2019 regarding the results of RC holes BBM004, BBM006 and BBM007 drilled at Blue Moon, which included high grade intervals and significant widths of anomalous gold grades. The announcement can be viewed through the following link:

https://polaris.brighterir.com/public/ecr_minerals/news/rns/story/wk5q62w

Highlights:

  • Twelve reverse circulation (RC) holes completed for 1,718 metres drilled at Blue Moon, with significant intersections of gold mineralisation in nine holes (see Table 1, and further information in Table 2).
  • Based on the results of this programme, together with other exploration as previously reported, Blue Moon constitutes a new gold discovery within the Bailieston project area.
  • Across the full RC drilling programme, significant intersections included:
    • 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;
    • 3 metres at 3.88 g/t gold within a zone of 11 metres at 2.42 g/t gold from 169 metres in BBM006;
    • 1 metre at 2.15 g/t gold at the top of a zone of 16 metres at 0.28 g/t gold from 85 metres in BBM004;
    • 2 metres at 1.40 g/t gold within a zone of 14 metres at 0.54 g/t gold in BBM005 from 132 metres;
    • 1 metre at 1.94 g/t gold from 138 metres and 5 metres at 0.46 g/t gold from 152 metres in BBM010;
    • 5 metres at 1.09 g/t gold from 97 metres in BBM013.
  • The RC programme was devised following the results of a diamond drilling programme completed in 2018 which intersected gold mineralisation in all three holes, together with field mapping and soil geochemical sampling undertaken subsequently.
  • The RC drilling results indicate that the host sandstone is thicker and the gold grades significantly higher on the westerly section, and further exploration will therefore seek to follow the system to the west, subject to agreeing access with landowners.
  • Further exploration to the west would initially comprise surface geochemical sampling, potentially followed by drill testing.

Craig Brown, Chief Executive Officer of ECR Minerals plc, commented: “I am pleased to announce the complete results of the RC drilling programme undertaken at the Blue Moon prospect and the new gold discovery we have now confirmed.

Within this follow-up programme, we have reported gold grades of up to 17.87 g/t gold over 2 metres from 57 metres and have significantly increased our knowledge of the geology at Blue Moon. This represents considerable advancement when set against the diamond drilling results reported in July 2018 from the first three holes at Blue Moon, which included a significant intersection of 39 metres at 0.3 g/t gold from 24.2 metres.

With the knowledge gained from the RC programme we believe that the gold mineralisation intensifies further west and now have a clear action plan to follow the system. We are excited by the findings and will continue our work at Blue Moon and other prospects in the Bailieston project area, with our strategic objective remaining a multi-million ounce gold discovery.”

Further Information

A map showing the location of all drill holes completed at Blue Moon by MGA may be viewed through the following link: https://www.ecrminerals.com/images/BBM_As_2019.jpg

As previously announced, gold mineralisation at Blue Moon is associated with sandstone plus dykes intruding the sandstone and adjacent to it. Sericitic alteration, silicification, sulphide development and gold mineralisation are restricted to the host sandstone with rare sulphides developed in the dykes. Quartz is generally low to absent, even in drill hole BBM007 where quartz was estimated at up to 2% and arsenopyrite at up to 1%.

MGA’s 2018 diamond drilling did not obtain fresh samples from beneath the oxide zone. The twelve reverse circulation (RC) holes completed in February and March 2019 (BBM004-15) aimed to intercept the sandstone on 50 metre spacing across three sections and to gain samples from beneath the oxide zone. Samples from the RC drilling were sent to Gekko Systems in Ballarat, Victoria for fire assay.

Table 1
Significant Intersections from February-March 2019 RC Drilling at the Blue Moon Gold Prospect
EL5433, Victoria, Australia

NB:
Intersections reported are apparent width.
Results from holes BBM004, BBM006 and BBM007 previously announced on 14 March 2019.

Hole ID Interval (m) From (m) To

(m)

Grade

(g/t gold)

BBM004

16

85 101 0.28
inc.

1

85 86 2.15
inc.

1

90 91 1.02
BBM005

14

132 146 0.54
inc.

2

134 136 1.40
BBM006

11

169 180 2.42
inc.

3

170 173 3.88
inc.

4

176 180 2.21

4

199 203 1.19
BBM007

15

51 66 3.81
inc.

11

55 66 5.16
inc.

6

55 61 8.32
inc.

2

57 59 17.87
BBM008

2

57 59 0.64
BBM009

1

98 99 0.88
BBM010

1

138 139 1.94

5

152 157 0.46
BBM013

5

97 102 1.09
BBM014

6

133 139 0.72

COMPETENT PERSON STATEMENT

This announcement has been reviewed by Dr Rodney Boucher of Linex Pty Ltd, which provides geological services, including the services of Dr Boucher, to the Company’s wholly owned subsidiary Mercator Gold Australia Pty Ltd. Dr Boucher has a PhD in geology, is a Member and RPGeo of the Australian Institute of Geoscientists and a Member of the Australian Institute of Mining and Metallurgy, and 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 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.

Table 2
Complete Results and Hole Details
February-March 2019 RC Drilling at the Blue Moon Gold Prospect
EL5433, Victoria, Australia

NB:
Intersections reported are apparent width.
Results from holes BBM004, BBM006 and BBM007 previously announced on 14 March 2019.
Azimuth of all holes was 179 degrees magnetic (190 degrees true).
Coordinates are MGA zone 55.

Hole ID Easting Northing Interval (m) From

(m)

To

(m)

Grade

(g/t gold)

Hole depth (m) Declination
BBM004 326,158 5,922,563

16

85 101 0.28 120 -80
inc.

1

85 86 2.15
inc.

1

90 91 1.02
BBM005 326,158 5,922,561

14

132 146 0.54 167 -87
inc.

2

134 136 1.40
BBM006 326,158 5,922,569

11

169 180 2.42 210 -90
inc.

3

170 173 3.88
inc.

4

176 180 2.21

4

199 203 1.19
BBM007 326,158 5,922,565

15

51 66 3.81 78 -61
inc.

11

55 66 5.16
inc.

6

55 61 8.32
inc.

2

57 59 17.87
BBM008 326,262 5,922,545

2

57 59 0.64 84 -61
BBM009 326,262 5,922,547

1

98 99 0.88 115 -80
BBM010 326,261 5,922,550

1

138 139 1.94 165 -87

5

152 157 0.46
BBM011 326,261 5,922,553 No significant intersections 211 -90
BBM012 326,212 5,922,553 No significant intersections 78 -61
BBM013 326,212 5,922,556 5 97 102 1.09 125 -80
BBM014 326,212 5,922,558 6 133 139 0.72 154 -87
BBM015 326,212 5,922,561 No significant intersections 211 -90

ECR Minerals #ECR – Successful Reconnaissance Drilling at Black Cat Gold Prospect Victoria, Australia

ECR Minerals plc (LON:ECR), the precious metals exploration and development company, is pleased to announce the findings of the reconnaissance rotary air blast (RAB) drilling programme recently completed at the Black Cat gold prospect, which is located within the Bailieston gold project area (EL5433) in the state of Victoria, Australia.

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

Readers are advised to review ECR’s announcement dated 4 February 2019 regarding the initiation of the Black Cat drilling programme, which can be viewed at the following link:

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

HIGHLIGHTS:

  • Reconnaissance RAB drilling programme targeted numerous quartz reefs at Black Cat with a total of 18 shallow holes for 485 metres of drilling;
  • Significant intersections are reported in Table 1 below and include 7 metres at 1.76 g/t gold from 35 metres in BCD11, 3 metres at 4.26 g/t gold from 16 metres in BCD18, and 1 metre at 6.3 g/t gold from 18 metres in BCD03;
  • The potential for supergene enriched mineralisation at the water table interface and for deeper primary mineralisation could be investigated by drilling deeper holes;
  • The Black Cat prospect is located immediately south of ground recently applied for by Newmont Mining, and is among the high priority targets identified by the geophysical interpretation and targeting study completed for MGA in late 2017;
  • Important geological insights have been generated by the drilling programme, which will guide further exploration at Black Cat and other prospects in the Bailieston gold project area.

Craig Brown, Chief Executive Officer of ECR Minerals plc, commented: “This was a valuable reconnaissance programme at a gold prospect which had never been drilled before, located immediately south of ground recently applied for by a subsidiary of Newmont Mining.

The drilling targeted numerous quartz reefs with 18 holes drilled in total. Most of the locations had some historical gold mining activity, and all of them had positive previous rock chip sampling results.

I am delighted with the positive outcomes from this programme. As well as some encouraging grades, the drilling has provided important geological information which may help vector further exploration in the project area towards achievement of ECR’s prime strategic objective, which is the discovery of a multi-million ounce gold deposit.”

Further Information

Rotary air blast (RAB) drilling is a low-cost method well suited to the first pass, reconnaissance testing required at the Black Cat gold prospect. Eighteen holes were drilled, to a maximum depth of 47 metres downhole, for a total of 485 metres.

Full details of all drill holes are reported in the tables below. A map showing the location of the drill holes may be downloaded at the following link:

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

Composite samples representing 3 or 4 metre downhole lengths were initially compiled from the drill cuttings and sent to be fire assayed for gold. After receipt of the assay results, composites which returned anomalous gold grades were re-sampled on a metre by metre basis. This second set of samples was sent for fire assay, and the intersections reported in this announcement are based on those assay results. All assays were carried out at On Site Laboratory Services in Bendigo, Victoria.

Each of the three main quartz reefs that were worked historically at Black Cat is around 350m long. Drill holes were located along each of these reefs, especially near the most significant workings.

Discussion of Results

The main Black Cat reef comprises a series of en-echelon quartz lenses within a shear zone, as is found at various other reefs within the Redcastle goldfield, and for this reason the drilling completed did not always intersect the quartz veined sections. Apart from the quartz veined material that was mined historically, there exist siliceous pyritic sandstones and heavily fractured limonitic siltstones that can also be auriferous.

Hole BCD11 was drilled at the southern end of the main reef and the intersection of 7 metres at 1.76 g/t gold is associated with a diorite dyke and a zone of significant quartz veining at the footwall of the dyke in the host sandstone.

Narrow high-grade zones were intersected in BCD03 (1 metre at 6.3 g/t gold from 18 metres) and BCD18 (3 metres at 4.26 g/t gold from 19 metres) on two separate reefs, the main reef and the north reef, both of which appear to be shoot types of mineralisation because of the discontinuity along strike which has been established by other drill holes. In the case of both BCD03 and BCD18, no quartz veining was observed in the drill cuttings where gold was found to occur. The gold-mineralised intersections here are associated with limonitic siltstone.

The drilling indicates that there is typically a supergene enriched zone near surface that reaches a vertical depth of around 10 metres. There remains potential for additional supergene enrichment near the water table (approximately 50 metres), and for higher gold grades in deeper primary mineralisation. The three most significant intersections are all on different reefs and each could be investigated further by deeper drilling.

Further exploration could also focus on larger nearby structures that may be the source of the gold mineralisation, such as the Moormbool and Black Cat faults.

Table 1

Significant Intersections from Q1 2019 RAB Drilling at the Black Cat Gold Prospect

EL5433, Victoria, Australia

NB: intersections reported are apparent width with a cut-off grade of 0.3 g/t gold

Hole ID From (m) To (m) Interval (m) Grade g/t gold Reef
BCD01 16 18 2 0.58 North extension
BCD03 18 19 1 6.3 North
BCD08 0 3 3 0.68 Main
BCD11 35 42 7 1.76 Dyke
BCD15 8 9 1 1.08 Main
BCD18 16 19 3 4.26 Main

COMPETENT PERSON STATEMENT

This announcement has been reviewed by Neil Motton BAppSc (Hons), MAusIMM (CP), FSEG, a geological consultant to the Company’s wholly owned subsidiary Mercator Gold Australia Pty Ltd with more than 30 years of professional experience. Mr Motton 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 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.

Table 2

Hole Details (MGA94) – Q1 2019 RAB Drilling at the Black Cat Gold Prospect

EL5433, Victoria, Australia

Hole ID Easting Northing Depth Azimuth Dip Location
BCD01 307822 5931871 34 220 -60 NW trench
BCD02 307803 5931848 31 37 -60 NW trench
BCD03 307871 5931678 33 226 -60 North reef
BCD04 307860 5931690 30 225 -60 North reef
BCD05 307958 5931126 20 2 -60 Dyke
BCD06 307813 5931772 24 45 -60 North reef ext.
BCD07 307820 5931780 13 45 -60 North reef ext.
BCD08 307901 5931272 16 25 -60 Main reef
BCD09 307898 5931262 26 20 -60 Main reef
BCD10 307890 5931314 26 225 -60 Main reef
BCD11 307961 5931133 47 10 -60 Dyke
BCD12 307940 5931016 30 215 -60 South reef east end
BCD13 308005 5931113 42 13 -60 Dyke
BCD14 307936 5931145 36 10 -60 Dyke
BCD15 307865 5931340 9 220 -60 Main reef
BCD16 307867 5931343 13 220 -60 Main reef
BCD17 307879 5931330 28 226 -60 Main reef
BCD18 307895 5931302 27 225 -60 Main reef
Total 485

Table 3

Complete Results of Q1 2019 RAB Drilling at the Black Cat Gold Prospect

EL5433, Victoria, Australia

NB: intersections reported are apparent width with a cut-off grade of 0.3 g/t gold

Hole ID From (m) To (m) Interval (m) Grade g/t gold Reef
BCD01 16 18 2 0.58 North extension
BCD02 No significant intersections
BCD03 18 19 1 6.3 North
BCD04 No significant intersections
BCD05 No significant intersections
BCD06 No significant intersections
BCD07 No significant intersections
BCD08 0 3 3 0.68 Main
BCD09 No significant intersections
BCD10 No significant intersections
BCD11 35 42 7 1.76 Dyke
BCD12 No significant intersections
BCD13 No significant intersections
BCD14 No significant intersections
BCD15 8 9 1 1.08 Main
BCD16 No significant intersections
BCD17 No significant intersections
BCD18 16 19 3 4.26 Main

ECR Minerals (ECR) – Result of AGM

LONDON: 23 April 2019 – The board of directors of ECR Minerals plc (the “Directors”) are pleased to announce that at the Company’s annual general meeting held today all resolutions were passed.

ABOUT ECR

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.

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

ECR Minerals (AIM:ECR) Windidda Gold Project Update – Yilgarn Region Australia

ECR Minerals plc (LON:ECR), the precious metals exploration and development company, is pleased to announce the Company has commenced processing and interpretation of airborne and ground geophysics in respect of the Company’s 100% owned Windidda gold project (the “Project”) in Western Australia.

Readers are advised to consult the Company’s previous announcement outlining the submission of licence applications by the Company to form the Windidda gold project:

https://polaris.brighterir.com/public/ecr_minerals/news/rns/story/rgkd6zw

Highlights:

  • Consultants instructed by ECR are now completing geophysical data processing and modelling to determine structural trends within, and the depth to, an interpreted buried Archaen greenstone belt at the Project;
  • As reported in January 2019 nine new licence applications which comprise the Windidda Project have been submitted covering approximately 1,600 square kilometres of the Yilgarn Craton;
  • The application areas have been identified as a potential greenstone hosted orogenic gold exploration opportunity with significant potential to contain Archaen greenstones buried beneath cover;
  • The under cover greenstone exploration model has been successfully tested to date by Greatland Gold (LON:GGP) at its Ernest Giles project located approximately 125km east of ECR’s Windidda gold project;
  • The processing and interpretation of airborne and ground geophysics is an important element in the determination of high profile drill targets, expected to be amenable to cost effective air core drilling enabling the rapid assessment of the potential for gold mineralisation.

Craig Brown, Chief Executive Officer commented: “I am pleased to announce that we have launched the next crucial stage in the development of our understanding of scale of the Windidda gold project.

The work being undertaken will greatly assist our understanding of the Project and help us to focus on the higher profile target areas for follow up drilling.

The feedback from this work will be available to the Company shortly and will enable us to advance our operational planning, including the development of key drill targets in our search for high impact gold mineralisation.”

COMPETENT PERSON STATEMENT

Information disclosed in this announcement has been reviewed by Samuel Garrett Non-executive Director of ECR Minerals and a Competent Person within the meaning of Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code) and for the purposes of the AIM Rules.

Mr Garrett holds a BSc (Hons) in Geology and an MSc in Economic Geology from the University of Tasmania. He is a member of the Australian Institute of Geoscientists and a member of the Society of Economic Geologists (USA).

MARKET ABUSE REGULATIONS (EU) No. 596/2014

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

FOR FURTHER INFORMATION, PLEASE CONTACT:

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

info@ecrminerals.com

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

ABOUT ECR MINERALS PLC

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

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

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

ECR Minerals targets expansion in West Australian gold mines – UK Investor Magazine

ECR MineralsThe precious metals exploration company is looking to its Central Victorian Goldfields and the Yilgarn Craton projects in Western Australia as key to its business strategy moving ahead.

Back in January, the AIM-listed firm said it had applied for new applications in the Yilgarn region, which is named the Windidda gold project.

The area covers a total of 523 graticular blocks, which amounts to roughly 1,600 km2 of the Yilgarn Craton.

The area was highlighted as potentially hosting potential greenstone-hosted gold trends.

Last month, ECR Minerals reported significant high-grade gold assays from the reverse circulation (RC) drilling programme recently completed at the Blue Moon prospect in Australia.

Shares shot up as much as 6% on the day of the announcement, as investors welcomed the promising results.

Most recently, the company reported its final results last week, with losses widening slightly for the year.

Specifically, ECR Minerals reported a £550,018 loss for the year to September end, slightly higher than the £511,124 loss reported a year before.

Commenting on the results, Non-Executive Chairman David Tang stated:

“Over the past year, ECR has continued to advance and augment its portfolio of gold exploration projects in Australia, which is one of the world’s principal gold producers and one of the foremost destinations for global mining investment,”

“The board remains confident in ECR’s strategic objective of discovering a multi-million ounce gold deposit, and we look forward to reporting further progress towards this goal,”

Link here to view the article on UK Investor Magazine website

ECR Minerals CEO Craig Brown & NED Sam Garrett outline the strength of ECR’s gold project portfolio in Australia at the Share Talk presentation evening

ECR CEO Craig Brown & NED Sam Garrett outlined the strength in depth of the Gold project portfolio in Australia at the presentation evening to new investors in London

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