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Time to Fillyaboots with ECR Minerals (AIM:ECR) as Victoria Gold Projects continue to evolve and gold attracts record investments.

Time to Fillyaboots with ECR Minerals (AIM:ECR) as Victoria Gold Projects continue to evolve and gold attracts record investments.  

  • High grade assays at Timor
  • Exploration underway at Avoca
  • Whole of bag testing results at Creswick
  • Record breaking month for gold
  • Time to Fillyaboots

 For those keen on regular progress updates, Australia-focussed mining company ECR Minerals (AIM: ECR) hits the mark by keeping investors up to date with their every move on Twitter. Of late, the three major developments over August at Timor, Avoca and Creswick projects have focussed attention, driven as much as anything by the rising demand for gold amid dwindling macroeconomic conditions.

1) High grade assay results demonstrate potential for Timor Gold Project to follow in the footsteps of Maryborough goldfield

The first of these was an impressive set of rock chip sampling results at the Timor project, which gave ECR investors plenty to smile about at the beginning of the month.

High grade gold assays of 22.6 g/t and 26.3 g/t were recorded respectively from Shaw’s Reef and Anglo-Saxon Reef prospects.

Mined to 152m depth, ECR revealed that Shaw’s Reef had produced 11,465 ounces at a grade of 20.93 g/t Au. Meanwhile, four samples from the Anglo-Saxon Reef averaged 8.12 g/t Au.

Not bad eh? Well on top of that, the reconnaissance had also “discovered the Brilliant / Northumbria reef and its extensive gold workings, including an old open cut” ..according to CEO Craig Brown.

“This prospect area extends over a length of approximately 500m and is up to 80m wide and assays from 13 samples indicate widespread low-grade gold mineralisation.”

These results indicate that Timor may well follow on from the historical success of the Maryborough Goldfield.

Maryborough, which lies within the area covered by the Timor license, previously produced over 640,000 ounces of gold from hard-rock and alluvial sources, with 220,000 ounces mined from hard-rock operations at an average grade of 14g/t gold.

Northumbria Reef open cut

2) Avoca Exploration Underway

In addition to Timor, there was plenty of news forthcoming from ECR’s other Victoria sites. On the 14th of August the Company announced it had begun exploration at Henry’s Hill within the Avoca gold project license area.

The company now has active exploration works underway at four projects within the Victorian goldfields region, including Bailieston, Creswick, Timor and now Avoca.

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

Previously seven samples have been taken from the roadside reserve at Henry’s Hill, with three of these returning 5.1, 1.4 and 1.3 g/t gold.

With land access permission secured from the landowner and ever keen to keep the ball rolling, ECR will be commencing soil geochemistry and field mapping imminently.

3) Whole of bag testing results at Creswick:

Now for Creswick, the one we’ve all been waiting on. This is ECR’s strategic priority, with potential to be a multi-million ounce gold deposit.

Craig Brown and his team have been quick to try to progress the project and understand the impact of the nuggety nature of it’s gold deposits – conducting whole-of-bag testing in order to gain more representative results than from the original 2 kg assays.

Despite delays due to inclement weather at Victoria, ECR were happy to announce that work was underway and generating important results from the gravity and electrostatic concentration (GEC) of gold process, constructed under the guidance of the highly accredited resource geologist Keith Whitehouse.

GEC uses the dual processes of gravity and chargeability, which not only sounds rather impressive, but is capable of removing coarse, fine and ultrafine particles of gold from the RC samples.

According to Craig Brown.. “the results so far have demonstrated significant variability from the original assays, demonstrating that the small sample size can overstate and understate results.”

“Notably the original 44.63 g/t assay from the 2 kg sample from CSR006 (15-16 m) is increased to 63.03 g/t.”

To help support the process, ECR have appointed mining geologist and geometallurgist Dr Simon Dominy. With over 25 years’ experience Dr Dominy looks to be the man to help ECR evaluate their results, review the sampling process and guide future exploration & project development work at Creswick.

Gold sets record breaking highs

From a timing standpoint, ECR have hit the metaphorical bullseye considering the rapid rise in demand for safe-haven gold. Investors ploughed almost $5bn into the precious metal in August amid ongoing trade tensions and diminishing macroeconomic conditions, taking it to its highest level since April 2013.

Prices have remained high moving into September, with levels closing at US$1,551 a troy ounce on Wednesday the 4th of September. Analysts see no sign of prices dipping either.

Bloomberg Intelligence (BI) have said that US gold prices could be set for new record highs. Meanwhile Goldman Sachs upgraded its 6-month gold forecast at the beginning of August to $1,600 an ounce as trade tensions continue to escalate.

According to BI senior commodity strategist Mike McGlone:

“The dollar price of gold is on far more stable ground than it was about a decade ago. Some combination of sustained greenback strength and rapid stock-market appreciation should be necessary to suppress the metal’s price … Bottoming with the Federal Reserve’s interest-rate hike in 2015, the gold price appears to be situated for brighter days,” McGlone said in a September update.

Worsening economic data and the fast approaching Brexit deadline have also pushed the price of gold in British Pounds and Euros to new record highs.

The UK gold price in Pounds per ounce was up more than 50% from the eve of the UK’s vote to leave the EU back in June 2016, hitting £1279 on Tuesday the 3rd of September.

Time to Fillyaboots

All said, while ECR could be accused of being slightly trigger happy with their posts on Twitter, the reality is that the company have a lot to talk about.

As well as gold’s strength, with active exploration underway at four sites in Victoria and with nine exploration licences in the highly prospective Yilgarn region, ECR Minerals are certainly a company worth your attention if you’re looking to join the gold rush.

Each month the company continues to materially progress its projects, with August no exception. Timor’s high grade assay results give plenty of hope, putting a solid floor under the Company valuation, whilst recent exploration at Avoca demonstrates yet again that ECR are not resting on their laurels.

Finally, and of most importance thorough testing appears to be fully underway at Creswick, meaning ECR are moving ever closer to understanding the true value of their potential multi million ounce gold deposit. And with a market cap at just GBP3.5m, there has never been a better time to fillyaboots with this ambitious gold explorer.

By Harry Dacres-Dixon

 

Sources:

Gold Prices To Hit $1,575 In 3 Months, $1,600 In 6 Months – Goldman Sachs

Gold prices to pick off U.S. dollar high next – Bloomberg Intelligence

Investors pile into gold as trade conflict rumbles on

Gold Price Hits Fresh UK and Euro Highs as Brexit Rebels Fight No.10, German Factories Prepare for ‘No Deal’

ECR Minerals #ECR – High Grade Gold Assays – Timor Gold Project – Australia

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

ECR Minerals plc (ECR) Progress Update – Creswick Gold Project Australia

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.

ECR Minerals #ECR – High Grade Gold Assays – Timor Gold Project – Australia

High Grade Gold Assays – Timor Gold Project – Australia

ECR Minerals plc (LON:ECR), the precious metals exploration and development company, is pleased to announce the receipt of high grade gold assays from the recently completed rock chip sampling programme at the Timor Gold Project (the “Project”) in Victoria, Australia.

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

Craig Brown, Chief Executive Officer commented: “I am extremely pleased to announce the receipt of high-grade gold assays from the Shaw’s Reef and Anglo-Saxon Reef prospects, during a recent reconnaissance sampling program where assays of 22.6 g/t and 26.3 g/t Au were received, respectively. Both these samples are of vein quartz taken randomly from the main waste dumps created by the old underground operations of the late 1800s & early 1900s.“

“Furthermore, the reconnaissance has discovered the Brilliant/Northumbria reef and its extensive gold workings, including an old open cut. This prospect area extends over a length of approximately 500m and is up to 80m wide and assays from 13 samples indicate widespread low-grade gold mineralisation.”

Highlights:

  • Quartz vein material assayed 22.6 g/t from Shaw’s Reef main shaft waste dump, which mined to 152m depth and produced 11465 ounces at a grade of 20.93 g/t Au;
  • Quartz vein material assayed 26.3 g/t from Anglo-Saxon Reef main shaft waste dump & the four samples averaged 8.12 g/t Au. No production records are available and the mine appears to have been worked to relatively shallow depths;
  • Eighty-four (84) rock samples were collected from 19 prospects, with over half (47) of the samples being mineralised or anomalous at >0.1 g/t Au;
  • These 47 anomalous samples of quartz vein or waste rock material are from 14 separate prospects which averaged 1.8 g/t Au indicating that not only are the quartz samples mineralised but that there is a high-level background gold content of the host rocks associated with many of the prospects;
  • The maximum gold grade for these waste rock samples received is 6.49 g/t from the North British Reef, where the material assayed was a host rock slate without any quartz content, which is remarkable;
  • A number of the prospects have consistently anomalous gold grades indicating that the ore does not appear to be particularly nuggetty and that reliable grades can be expected. Further sampling is therefore required to establish the extent of the mineralisation of these particular prospects prior to drilling;
  • A number of prospects remain to be sampled within both the LMFZ and SMFZ pending access negotiations to private property;
  • Wide zones of anomalous gold mineralisation associated with old quartz reef workings that operated on a number of parallel reefs, quartz blows, ladder veins and stockworks within a corridor of up to 80m wide occur at the Brilliant/Northumbria Reefs at the northern end of the Shaw-McFarlane Fault Zone (SMFZ). This zone is about 500m in length and may extend further and therefore offers an immediate drill target with potential for open cut gold mining. Historically part of the zone was open cut with horse and cart technology (Figure 1).

A link to Figure 1 Northumbria Reef open cut:

https://www.ecrminerals.com/images/2019/07/30/northumbria-reef-open-cut.jpg

A link to Figure 2 Brilliant Reef large quartz outcrop approximately 400m south of Northumbria workings:

https://www.ecrminerals.com/images/2019/07/30/brilliant-reef-large-quartz.jpg

Background to the Timor Gold Project:

Timor Gold project is located in Victoria Australia and held under exploration licence EL006278.

Historical records demonstrate that the Maryborough goldfield within the licence area has produced over 640,000 ounces of gold from hard-rock and alluvial sources, with 220,000 ounces mined from hard-rock operations at an average grade of 14g/t gold. (See references below).

Two major fault zones have been identified on the Project, namely the Shaw-McFarlane Fault Zone (“SMFZ”) and the Leviathan-Mariners Fault Zone (“LMFZ”), which are responsible for the majority of the hard-rock gold production.

The SMFZ has been shown to have consistently produced high grade gold mines along its length with Shaw’s Reef, McFarlane’s Reef and Havelock Monte Christo having recorded production at average grades ranging from 22g/t gold to 217 g/t gold with certain operations having been impacted by metallurgical challenges. (See references below.)

Opportunities exist within the SMFZ to identify and process gold mineralisation at potentially very high grade by applying modern processing techniques to resolve processing challenges that limited production many years ago.

The LMFZ hosts a large number of variably sized reefs that occur within the fault zone. These reefs are associated with diorite dykes and generally offer larger gold targets, albeit at lower grade compared to the SMFZ and historical mining records demonstrate that mining activities were often to relatively shallow depths.

Most of the LMFZ is under shallow alluvial cover which produced a considerable amount of gold in the early days of the Maryborough gold rush of the 1850s.

Both the SMFZ and the LMFZ have potential for modern open cut and underground mining techniques, because of the scale of the deposits present.

As a result of the successful program of reconnaissance rock dump sampling from the old workings announced today, the Company is reviewing the data collected to determine the next step for this the Timor Project.

Further information to follow as each step of the exploration programme is implemented and the results interpreted.

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 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.

References:

HOWITT, A.M., 1913. The Maryborough goldfield. Geological Survey of Victoria Memoir 11. Department of Mines, Victoria, 76 pp.

Whitelaw, H.S., 1899, Antimony Ores in Victoria. Geological Survey of Victoria Special Report.

ANON., Undated. Leviathan Gold Mines, Maryborough. Map showing Mining Lease areas, locations of shafts, reefs, alluvial leads composite level plans for mines, etc. Plan No 1757/B/1.

ANON, 1888, Lands held under Leases for Gold Mining, Shaw’s & Mariner’s Reef, Maryborough. Register for Mining Registrar for March 1888.

ECR Minerals Victoria Goldfields projects set to take flight 

  • Creswick a strategic priority
  • Golden Nuggets
  • Foot on the pedal at Timor Gold Project
  • Time to jump on board

AIM Listed Australia-focussed mining company ECR Minerals (AIM: ECR) now has active exploration and development works underway at three projects within the Victorian goldfields region, including Bailieston, Creswick and Timor. 

Developments in June and July have ensured that investors remain firmly focussed on progress thanks to a raft of exciting announcements from both Creswick and Timor projects.

Creswick a strategic priority, with potential to host multi-million ounce gold deposit

ECR Minerals Creswick gold project is evolving quickly, with ECR looking to rapidly advance the project to a JORC compliant resource.  

ECR’s CEO Craig Brown said the company will be “allocating resources to this project in a prioritised manner” with internal modelling suggesting that Dimocks Main Shale..”is large enough to potentially host a multi-million ounce gold deposit”

There is plenty of long standing geological and anecdotal evidence supporting this view. The Dimocks Main Shale (DMS), a 15km-long geological feature containing a vast amount of alluvial and deep lead gold, has been historically responsible for contributing a large proportion of gold production in the Victoria region. And it just so happens that approximately 7km of ECR’s Creswick licences and applications incorporate the DMS feature. 

Back in February ECR completed 1,687 metres of reverse circulation drilling, which targeted multiple quartz vein orientations. Results in May reportedly exceeded expectations, with quartz identified in over a third of the ground drilled.

Golden Nuggets

However, it was the ‘nuggetty’ nature of gold mineralisation at the site which grabbed the Company’s attention. It is now thought that the ‘nuggety’ gold mineralisation could have dramatically increased the likelihood of understated assays in ECR’s samples to date, with the chance of capturing a gold nugget in any drilled meter smaller as the nuggets size increases. 

To help provide a clearer picture, ECR announced on the 11th June that they would be significantly ramping up their assessment, particularly given the strong possibility that coarse gold was missed from previously assayed 2kg samples from a 30kg bag.

In line with advice from tendering laboratories, ECR have devised a structured approach to systematically test 640 sample bags (each close to 30 kg). 

Bags found to contain metal will be removed from site for “whole-of-bag” testing. ECR stated that the process will now incorporate multiple steps, including sieving, detecting, gold particle analysis, gravity concentration and assaying to determine the size distribution and grade of the coarse and fine gold within the sample. 

The Company has every reason to be hopeful. On May 8th, a sample bag trial demonstrated gold of 11.8 g/t from whole-of-bag gravity concentration, some 528% greater than the 1.88 g/t gold returned from assay of the initial 2kg sub-sample.

“Creswick is a unique project and the assessment of in-situ gold mineralisation requires bespoke project management and technical application”, said Craig Brown.

“I am delighted that our first metal detecting of bags has already highlighted metal content, which we expect is reflective of nugget gold mineralisation as samples from depth are unlikely to contain other detectable metals.”

CEO site visit

As Creswick continued to make rapid progress, Craig Brown visited the site in June.

He commented; “Subject to the ongoing results of our work, and assuming positive exploration outcomes, we are seeking to rapidly advance Creswick toward a JORC compliant resource.”

JORC is a professional code of practice that sets minimum standards for Public Reporting of minerals Exploration Results.

In the same announcement on June 21st, ECR revealed that in a bid to get the project into full flight, the Company have rented a large aircraft hangar and house in Nagambie for the sample storage, supervised preparation and drying of bulk samples. They’ve also shipped in technical lab equipment to help get the assays done. 

Meanwhile, gold panning in the vicinity of the recent drill hole locations had produced visible fine gold as seen opposite. While it may not look that impressive, panning evidence such as this is an important indication of gold in the area. 

Resource Geologist Appointment

Just three days after Craig Brown arrived on site, ECR announced the appointment of Keith Whitehouse, of Australian Exploration Field Services Pty Limited, as a consultant resource geologist.

With over 40 years’ experience in the provision of technical services to the resources industry, Keith Whitehouse looks to be the ideal appointment at this juncture, particularly given that he has extensive experience in resource modelling, JORC and NI 43-101 reporting, business development, data management and associated IT solutions. In addition to all this, he has extensive experience in Victoria, being a former Chair and current committee member of the Central Victoria branch of AusIMM. 

Of the appointment, Craig Brown commented: “Keith’s knowledge and experience will be applied immediately with regard to our ongoing work at Creswick, where we are seeking to quantify gold mineralisation in a manner that, if applicable, can be embodied within a JORC compliant resource.

In addition Keith’s skills will be of further value in respect of other projects in our Victorian portfolio, especially those where knowledge and experience relevant to resource modelling in a nuggetty environment are required.”

Foot on the pedal at Timor Gold Project, with modern processing set to offer great potential.

Although, at present Creswick is a priority, the Company is working hard to progress the other sites in the Victoria region. 

On June 25th, it was announced that gold exploration activities had commenced at the Timor Gold Project in Victoria, with Craig Brown stating that he was confident that modern mining processing techniques could open up significant gold production opportunities at the old Timor mines. 

“It is evident that most of the historical gold mines have not been developed fully at depth and that processing challenges stopped production in some cases, including certain remarkably high-grade gold deposits where production grades of up to 217 g/t or 7 oz/t are recorded” Brown added.

Timor Rock Chip Sampling 

Most recently, on July 15th ECR announced that 91 samples have been collected from Timor and submitted to the laboratory for assay testing. These were taken from two major fault zones, both with a long history of producing gold. The Shaw-McFarlane Fault Zone (“SMFZ”) in particular is reported to have consistently produced high grade gold mines along its length. 

Samples will include those taken from rock dumps from old gold workings, with the objective of the process to understand the type of mineralisation present. 

ECR were also delighted to announce that a 2.2kg gold nugget worth an estimated value of circa $200,000 had been discovered in an old alluvial channel approximately 5 km from the boundary of the Timor gold licence area during a gold prospecting documentary. 

The news came as a huge encouragement to the directors, supporting their ongoing belief in the untapped potential of the primary mineralisation in the area – with these the nuggets likely to have a local, primary source.

Gold production records for the area have also bolstered confidence at ECR. The Maryborough goldfield to the south of their site has produced over 640,000 ounces of gold from hard-rock and alluvial sources, with 220,000 ounces mined from hard-rock operations at an average grade of 14g/t gold. 

Time to jump on board

With active exploration and development underway at these highly prospective projects within the Victorian goldfields – Creswick, Timor and of course Bailieston, – now looks like a better time than ever to board the ECR flight. Tickets are also cheap, with the stock having seen a small dip across June.

There are many other voices across the industry with similar views. Jonathan Goodman, executive chairman of Dundee Corp insists that now is the time to be buying gold mining stocks when prices are deflated instead of waiting until everything is on its way up. In fact Goodman believes that Gold miners currently offer the ‘best value since 2010’. See his interview here with The Street.

With news expected across all three of ECR’s projects in the coming weeks and an internal review of ECR’s Avoca and Moormbool Projects to be with investors soon, this stock has its engines already turning on the runway. Don’t miss the flight. 

By Harry Dacres-Dixon

ECR Minerals #ECR – Issue of Shares for Business Services

ECR Minerals plc (LON:ECR) the precious metals exploration and development company is pleased to announce that 5,090,000 New Ordinary Shares have been issued by the Company at a deemed share price of 1.0p per share in lieu of business support, marketing and communications services valued at £50,900.

The shares are to be issued to five different and unconnected service providers covering principally investor and public relations services.

Craig Brown Chief Executive Officer of ECR Minerals plc commented: “ECR continues to aggressively pursue its Australian gold project portfolio and has experienced exploration success across its Bailieston and Creswick projects in 2019. A third project, Timor, is now activated and exploration work is progressing on the ground.

Given the range and depth of our project interests and amount of operational activity, we are focused on maintaining strong and focused market communications to ensure our message is well distributed and properly understood.

I am pleased that our service providers have today taken shares in lieu of cash for services, which we believe demonstrates their confidence in the business model..

I look forward to updating the market with further developments at the earliest opportunity.”

ADMISSION OF SHARES AND TOTAL VOTING RIGHTS

Admission of the New Ordinary Shares is expected to occur on or around 24 July 2019. Following Admission of the Financing Shares, ECR’s issued ordinary share capital will comprise 450,930,783 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.

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) Update – Timor Gold Project – Australia

ECR Minerals plc (LON:ECR), the precious metals exploration and development company, is pleased to provide an update in respect of exploration activities at the Timor Gold Project (the “Project”) in Victoria, Australia. The Timor Gold Project is one of five projects held by ECR in the Victorian Goldfields region.

The Company has now commenced the rock chip sampling programme which will include the sampling of rock dumps from old gold workings on the licence area. The sampling will be undertaken along the two fault zones and the objective will be to establish the style of gold mineralisation present.

In total 91 samples have been collected from Timor and submitted to the laboratory for assay testing.

The Company has noted a recent gold prospecting documentary that was filmed in the Victorian Goldfields, Australia close to some of the Company’s licence areas.

During the documentary the team working near Dunolly, approximately 5 km from the boundary of the Timor gold licence area discovered a 2.2kg gold nugget in an old alluvial channel with an estimated value of circa $200,000.

Whilst this discovery has not been independently verified by the Company and there is no guarantee that any more such nuggets will be found in the area, the directors are very encouraged by the discovery which they believe validates their ongoing belief in the untapped potential of the primary mineralisation in the area; the nuggets have to have a local, primary source.

While gold nuggets are not the ECR objective in discovering a new economic primary gold deposit at Timor, they do form an added occasional bonus to the overall economics, especially when they form part of a rich high grade ore shoot.

A map showing the approximate location of the discovery in relation to the Company’s licence areas may be viewed through the following link on the Company’s website:

https://www.ecrminerals.com/images/2019/image-1.png

Craig Brown, Chief Executive Officer commented: “I am pleased to confirm that the rock dump sampling from old workings is now underway at the Timor Gold Project and look forward to the findings from this work.

We are aware of many prospectors searching for gold in and around the Company’s licence areas, and that includes the Timor gold project. This is interesting and demonstrates the potential of our ground.

However, it is worth noting that should ECR make a discovery within its licence areas, it would be seeking to implement a significant commercial gold production operation which has a different scale to that seen in local prospecting and for which extensive preparatory planning and execution would be needed.

I look forward to providing further market updates in respect of Timor and our other Victoria gold fields interests, including Creswick where significant work is underway at present testing whole of reverse circulation sample bags for gold.”

Background to the Timor Gold Project:

Timor Gold project is located in Victoria Australia and held under exploration licence EL006278;

Historical records demonstrate that the Maryborough goldfield has produced over 640,000 ounces of gold from hard-rock and alluvial sources, with 220,000 ounces mined from hard-rock operations at an average grade of 14g/t gold. (See references below).

Two major fault zones have been identified on the Project, namely the Shaw-McFarlane Fault Zone (“SMFZ”) and the Leviathan-Mariners Fault Zone (“LMFZ”), which are responsible for the majority of the hard-rock gold production.

The SMFZ has been shown to have consistently produced high grade gold mines along its length with Shaw’s Reef, McFarlane’s Reef and Havelock Monte Christo having recorded production at average grades ranging from 22g/t gold to 217 g/t gold with certain operations having been impacted by metallurgical challenges. (See references below.)

Opportunities exist within the SMFZ to identify and process gold mineralisation at potentially very high grade by applying modern processing techniques to resolve processing challenges that limited production many years ago.

The LMFZ hosts a large number of variably sized reefs that occur within the fault zone. These reefs are associated with diorite dykes and generally offer larger gold targets, albeit at lower grade compared to the SMFZ and historical mining records demonstrate that mining activities were often to relatively shallow depths.

Most of the LMFZ is under shallow alluvial cover which produced a considerable amount of gold in the early days of the Maryborough gold rush of the 1850s.

Both the SMFZ and the LMFZ have potential for modern open cut and underground mining techniques, because of the scale of the deposits present.

A program of reconnaissance rock dump sampling from the old workings is to be undertaken initially, along the two fault zones, to establish the style of gold mineralization.

Subject to the findings from the sampling programme this may be followed by a grid-based GPS pXRF survey for antimony and arsenic as pathfinders to gold mineralization where outcrop or shallow cover exists.

Thereafter a scout Rotary Air Blast (“RAB”) drilling program on the best developed targets may be undertaken.

Further information to follow as each step of the exploration programme is implemented and the results interpreted.

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 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.

References:

HOWITT, A.M., 1913. The Maryborough goldfield. Geological Survey of Victoria Memoir 11. Department of Mines, Victoria, 76 pp.

Whitelaw, H.S., 1899, Antimony Ores in Victoria. Geological Survey of Victoria Special Report.

ANON., Undated. Leviathan Gold Mines, Maryborough. Map showing Mining Lease areas, locations of shafts, reefs, alluvial leads composite level plans for mines, etc. Plan No 1757/B/1.

ANON, 1888, Lands held under Leases for Gold Mining, Shaw’s & Mariner’s Reef, Maryborough. Register for Mining Registrar for March, 1888.

The ECR Minerals investment case keeps growing as gold continues to shine in Australia – Harry Dacres-Dixon

ECR Minerals investment case keeps growing as gold continues to shine in Australia

by Harry Dacres-Dixon

  • Gold prices on the up
  • Australia breaks production record
  • ECR Minerals promising portfolio
  • New Non-Exec Director to strengthen ECR board
  • A quality portfolio in a first world operating environment

Gold hits March high

Gold has extended its price gains for March, hitting $1,322.48(XAU/USD) at the end of Monday, it’s highest price since February 28th. This growth reflects safe haven demand as investors hedge against worsening global market conditions as a result of creeping concerns over an economic recession in the US, the continued contraction of the German manufacturing sector and the ongoing Brexit saga.

Gold started 2019 strongly, rising above $1,340 on the 19th of February, before prices temporarily crashed down to $1,292 on the 1st of March. The yellow metal has since gone on to shine again, last week posting its third consecutive weekly gain. No real surprise for some though: these returns are simply in line with numerous bullish forecasts for 2019.

Asset management firm Altana Wealth wrote in a note to clients; “We are entering a period of high uncertainty for fundamentals and risk assets and if this were to heighten further, gold could break out substantially, helped by safe-haven flows, lower yields and expectations of a possible return to quantitative easing,” (Reuters).

INTL FCStone analyst wrote; “The dollar has been a bit weaker along with equities. A lot of macro numbers we have been getting have been deteriorating sharply. Central banks, which are already dovish, will be more dovish, which is good for gold,” (Reuters).

Meanwhile Business Insider revealed that central banks have bought more gold than at any time since the end of World War II, as the commodity becomes an increasingly valuable hedge against growing global instability.

2019 set be a record breaker for Australian gold production?

Australia’s gold production hit a record high of 317 tonnes in 2018, according to gold consultancy firm Surbiton Associates who valued the production at A$17.3 billion at the average spot price.

The previous record of 314.5t was set back in 1997. But with 2019 set to be another big year for Australian production, we may not be waiting long for a new record number.

While global gold production in 2019 is expected to be stable, outputs in Australia-Oceania, Europe and Africa are expected to rise.

New Australian production in 2019 is expected to come from a number of projects, including Gold Fields and Gold Road Resources new 300,000oz per annum Gruyere mine in Western Australia and Kirkland Lake Gold’s Fosterville mine in Victoria, which is en-route to a record year of around 600,000oz of gold production for 2019 (Mining Journal);

Australian gold miners have also benefited from the twin effect of rising gold prices and falling value of the Australian dollar. Evolution Mining, Northern Star Resources and Newcrest Mining have also seen their share prices pushed higher (Forbes).

Australia’s biggest gold producer, Newcrest Mining, revealed last month that it had raised its ‘underlying profit in the six months to December 31st by 104% to $168 million ($A237 million) thanks to a 6% increase in gold production and a 13% reduction in costs’ (Forbes).

ECR Minerals quality portfolio

Another company making moves in Australia is AIM listed precious metals exploration and development company ECR Minerals (AIM:ECR).

Focusing their attention on the Central Victorian Goldfields and the Yilgarn Craton in Western Australia, ECR have amassed a growing portfolio, which has not gone unnoticed by the mining industry and investing community, particularly following the appointment this month of Australian mining industry veteran Sam Garrett to the board.

Following oversubscribed fundraising initiatives in 2018, coupled with expected R&D rebates from the Australian government, cash balances are strong and see ECR fully funded through to Q2 2020.

Central Victoria Projects

ECR currently holds five highly prospective projects located geologically within the major orogenic Lachlan Fold Belt in the historically prolific Central Victoria region.

These are Avoca (EL5387) and Bailieston (EL5433) held since 2016; Timor (EL006278) and Moormbool (EL006280) since 2017; and Creswick (EL006184) since early 2018. ECR also applied for three additional tenements around Bailieston and one near Creswick at the end of 2018.

ECR’s Victoria projects are sited close to mines and projects owned by some of the largest gold producers in the world. Fosterville, Australia’s fifth largest gold producer is located just 50km to the west of the Bailieston project, while Newmont Mining has applied for a mining license on ground adjacent to ECR’s Bailieston project.

Drilling Announcements

In Q1 2019, ECR currently has two ongoing drilling campaigns across three prospects in the Victoria region.

The company announced on the 28th of February that a combined 2,461 metres of reverse circulation drilling had been completed in less than a month at the Creswick and Bailieston Blue Moon prospect.

Subsequently high grade gold assay results were reported from the Blue Moon prospect at the Bailieston gold project. Significant intersections reported include 2 metres @ 17.87 g/t gold from 57 metres down hole in BBM007 within a zone of 15 metres at 3.81 g/t gold from 51 metres.

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

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

ECR also announced on the 4th March that an additional 250 meters of rotary air blast drilling had been completed at the Company’s Black Cat prospect in the Bailieston project area. The 10 target holes were drilled immediately south of territory included in the Newmont Mining license application.

ECR expands Windidda gold project, WA

Despite the high profile nature of their Victoria projects, ECR have remained both ambitious and strategic in their exploration plans. The company announced at the beginning of January that it had applied for 9 new exploration licences covering approximately 1600 km2 in the Yilgarn region, Western Australia.

At the time, Craig Brown said he expected the license applications to be approved within the next three to six months.

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

As such, ECR have been very lucky to pick up such prospective potential undercover greenstone acreage, in one of the world’s most productive gold provinces.

Sam Garrett ECR’s new Non-Exec Director commented; “This is one of the great provinces of the world and as a consequence the ground position is pretty much flooded, it’s almost impossible to acquire ground.”

New Non-Exec Director to strengthen ECR board

As already stated, ECR announced the appointment of Sam Garrett as the new Non-Executive Director at the end of February, a move that brings substantial credibility to ECR and significantly strengthens the team led by Craig Brown.

With 30 years of exploration management, project assessment and operational experience working for large multi-national and junior mining and exploration companies in ten countries, Mr Garrett is an excellent addition.

Craig Brown commented:“Sam brings extensive geological experience onto the board, not just in Australia but also in South America and the Philippines, where the Company has existing business interests.

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

A quality portfolio in a first world operating environment

With the yellow metal firmly back in the spotlight and likely to stay put, going digging for gold looks like a no-brainer option for investors, with Australia probably offering the richest cross section of opportunities at this time. With a highly educated workforce, the latest technology, fantastic infrastructure and a pro mining government, Australia is the premier destination for doing business when it comes to gold.

If you’re looking for a gold small cap with experienced management, strong finances and sites that have the potential to deliver big then ECR looks a great buy. Their exciting Victoria projects have already began to demonstrate their huge potential, whilst additional sites in an in demand Western Australia offer a massive opportunity and great potential upside for the company.

‘The company is well resourced and planned exploration only makes a relatively small dent in funds. This implies little to no dilution in the short term. Therefore we have rated ECR Minerals as a Long position with a 12-month target price of GBP 2.5 pence’ (Hallgarten & Company).

 

References

  1. FXStreet– Gold Price Forecast: Why it is rising on US recession fears and the big levels to watch
  2. Bullion Vault– Gold Prices Start 4th Week of Gains as US Yield Curve Inversion Signals Recession
  3. Reuters– PRECIOUS-Gold hits 3-week high as global growth fears lift safe-haven appeal
  4. BloombergIndustry Insiders Bullish on Gold, Forecast of $1585
  5. Business Insider– Central banks are buying the most gold since the end of World War II — here’s why
  6. Mining Journal– New high for Australian gold output
  7. Kitco– Global Gold Mining Expected To Remain Stable In 2019
  8. ForbesRising Gold And Falling Currency Delivers Strong Profits For Australian Gold Miners
  9. Brand Communication– Gold Drilling Update – Creswick & Blue Moon Australia
  10. Brand Communications – High Grade Gold Assays from Drilling at Blue Moon Prospect Victoria, Australia
  11. Brand Communications– ECR Minerals plc (ECR) Gold Drilling Update – Bailieston Black Cat Prospect Victoria Australia
  12. Brand Communications– 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
  13. Brand CommunicationsWindidda gold project to further expand ECR Minerals’ #ECR Australian gold portfolio
  14. Brand CommunicationsECR Minerals #ECR – Experienced Geologist Sam Garrett joins ECR Board as Non-Exec Director
  15. Hallgarten & Company– Initiation of Coverage Research Report for ECR Minerals

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

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

by Harry Dacres-Dixon

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

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

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

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

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

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

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

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

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

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

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

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

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

Yilgarn Craton: Australia’s premier mineral province

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

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

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

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

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

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

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

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

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

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

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

An exciting prospect for ECR

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

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

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

Independent research – 2.5p price target

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

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

 

Sources:

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

Brand Communications:

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

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

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

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

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

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

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

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

Hallgarten Equity Research:

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

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

ECR Minerals #ECR 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 – Result of AGM

RESULT OF ANNUAL GENERAL MEETING

 

LONDON: 24 April 2018 – The board of directors of ECR Minerals plc 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 has 100% ownership of the Avoca, Bailieston, Creswick, Moormbool and Timor gold exploration licences in central Victoria, Australia.

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

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

FOR FURTHER INFORMATION, PLEASE CONTACT:

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

Email: info@ecrminerals.com

Website: www.ecrminerals.com

WH Ireland Ltd

Tel: +44 (0)161 832 2174
Nominated Adviser
Katy Mitchell/James Sinclair-Ford
Optiva Securities Ltd Tel: +44 (0)203 137 1902
Broker
Graeme Dickson
FlowComms Tel: +44 (0)7891 677 441
Investor Relations
Sasha Sethi
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