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ECR Minerals #ECR – Victoria Projects Update – Significant increase in gold grades from Bulk Sampling at Creswick

ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to provide an update on the bulk sample results for the first four reverse circulation drill holes as well as the final two holes drilled at the Kuboid Hill prospect in Creswick earlier this year.  The Company is also pleased to provide results from stream sampling that was carried out last month at its Bailieston Project.

HIGHLIGHTS

Creswick

  • Reportable bulk sampling results of 05g/t Au and 2.53 g/t Au over 1 metre upgraded from 0.76 and 0.37 g/t Au respectively.
  • Techniques employed give potential scope for a marked improvement in grades for the remaining “best hole” bulk samples from pan concentrate.

Bailieston

  • Best results of 798 ppb Au and 712 ppb Au from stream sampling.
  • Sampling was carried out at three areas with no known historical workings and have shown encouraging surface expression of anomalous gold which gives merit to further follow up
  • Now re-analysing a number of drill cores from HR3 at Bailieston for the presence of Antimony, which correlates with this latest reconnaissance work showing a presence of Antimony.
  • ECR is funded for its planned activities in Victoria and Queensland in 2024.

Details of the Programmes

Creswick

As announced on 8 April 2024, a total of 1,032 metres of reverse circulation (“RC”) drilling was completed at Kuboid Hill on 16 February 2024. This was the second part of an extended reverse circulation drilling programme at Creswick, following on from 522 metres completed at Davey Road where, as previously announced on 12 February 2024, ECR reported a best overall grade gold of 41.03g/t Au. The Kuboid Hill programme was designed to follow up on the Company’s anomalous gold soil sampling campaign that was completed in 2022.

ECR has received final results from bulk sampling for the first four of the 17 RC drill holes at Kuboid Hill (being KHRC012, KHRC008, KHRC009 and KHRC015). Only KHRC012 generated any reportable results from the bulk sampling, significant improvement was seen in three of the samples from that hole, as set out below:

 Details of bulk sampling and significant intercepts > 0.5g/t

HOLE From (m) To (m) Interval (m) Original Au g/t Bulk Au g/t
KHRC012 27 28 1 0.76 3.05
KHRC012 28 29 1 0.26 0.81
KHRC012 40 41 1 0.37 2.53

The bulk samples from the remaining drillholes are currently in the laboratory. Based on the improved results for hole KHRC012, the ECR Board considers that there is a reasonable expectation of an improvement in grades for some of the remaining bulk samples from other mineralised zones.

Additional Kuboid Hill Drill Holes

The remaining samples for the final two drill holes at Kuboid Hill (see announcement 8 April 2024) have revealedfurther mineralised zones, consistent with what has been seen previously, although neither reported intercepts above 1 g/t.

Bailieston

At the Company’s Bailieston Project, a stream sampling campaign was recently completed throughout the northern part of the tenements (EL006911, EL006912 and EL007296) with the campaign being designed to test for initial evidence of gold mineralisation within the unexplored part of the region.

All three areas have had no historical work and, based on the results obtained, the Company believes there is merit in undertaking additional near-term follow up exploration.

  • Black Cat South

Best results of 798 ppb Au and 712 ppb Au from two streams on the western flank of the Black Cat Fault. The two streams drain a prominent ridgeline that is approximately 400m long in strike and offers further prospectivity. The regional Black Cat Fault is associated with other gold and antimony historical mining activity along strike.

  • King’s Cross

Result of 150 ppb Au from a stream that drains an old prospect known as King’s Cross. Highly oxidised quartz veins are present in this area and require follow up testing.

  • Freisland Hills

An anomaly of 100ppb Au was obtained from an unnamed creek in the centre of the area.

In all three prospects, LIDAR mapping shows there has been no previous mining activity or prospecting in the area which provides for an opportunity for development and deeper exploration.

In addition to stream sampling, two small soil orientation surveys were completed on the north fringes of the HR3 goldfield area and the Cherry Tree South goldfield. Both soil surveys show coincidental elevated arsenic and antimony. Previous soil sampling at HR3 has identified arsenic and antimony as pathfinders to gold mineralisation.

ECR is now also re-analysing the core from its earlier drilling at the HR3 prospect at Bailieston for antimony. The Costerfield-Bailieston-Nagambie district is noted for economic veins of antimony and elevated antimony has been observed from previous pXRF analysis of the drill core.

Mike Whitlow Chief Operating Officer said: “Today’s news points to further potential value at our Creswick gold assets and we’re looking forward to the results from the remaining bulk samples from our “best holes” following onfrom our ‘off the rig’ sample results, which include observations of visible gold.”

Adam Jones Chief Geologist said: “Results from the Bailieston stream sampling survey are also encouraging and we firmly believe ground exploration above these streams is now merited. The Bailieston field is prospective for not only gold, but also for antimony, and we’re fortunate to be located between the two proven fields of Costerfield and Nagambie. Today’s results give further validation to our rationale to re-analyse our historical core from HR3 and Cherry Tree.”

REVIEW OF ANNOUNCEMENT BY QUALIFIED PERSON

This announcement has been reviewed by Adam Jones, Chief Geologist at ECR Minerals plc. Adam Jones is a professional geologist and is a Member of the Australian Institute of Geoscientists (MAIG). He is a qualified person as that term is defined by the AIM Note for Mining, Oil and Gas Companies.

FOR FURTHER INFORMATION, PLEASE CONTACT:

 

ECR Minerals plc Tel: +44 (0) 1738 317 693
Nick Tulloch, Chairman

Andrew Scott, Director

Email:

info@ecrminerals.com

Website: www.ecrminerals.com
WH Ireland Ltd   Tel: +44 (0) 207 220 1666
Nominated Adviser

Katy Mitchell / Andrew de Andrade

Axis Capital Markets Limited Tel: +44 (0) 203 026 0320
Broker
Ben Tadd/Lewis Jones
 
SI Capital Ltd Tel: +44 (0) 1483 413500
Broker
Nick Emerson
Novum Securities Limited  Tel: +44 (0) 20 7399 9425
Broker

Jon Belliss

Brand Communications Tel: +44 (0) 7976 431608
Public & Investor Relations
Alan Green

Glossary

Au Gold
ppb parts per billion
pXRF Portable x-ray fluorescence (analyser)

ABOUT ECR MINERALS PLC

ECR Minerals is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd (“MGA”) has 100% ownership of the Bailieston and Creswick gold projects in central Victoria, Australia, has six licence applications outstanding which includes one licence application lodged in eastern Victoria (Tambo gold project).

ECR also owns 100% of an Australian subsidiary LUX Exploration Pty Ltd (“LUX”) which has three approved exploration permits covering 946 km2 over a relatively unexplored area in Lolworth Range, Queensland, Australia. The Company has also submitted a license application at Kondaparinga which is approximately 120km2 in area and located within the Hodgkinson Gold Province, 80km NW of Mareeba, North Queensland.

Following the sale of the Avoca, Moormbool and Timor gold projects in Victoria, Australia to Fosterville South Exploration Ltd (TSX-V: FSX) and the subsequent spin-out of the Avoca and Timor projects to Leviathan Gold Ltd (TSX-V: LVX), MGA has the right to receive up to A$2 million in payments subject to future resource estimation or production from projects sold to Fosterville South Exploration Limited.  MGA also has approximately A$75 million of unutilised tax losses incurred during previous operations.

ECR holds a royalty on the SLM gold project in La Rioja Province, Argentina which could potentially receive up to US$2.7 million in aggregate across all licences

ECR Minerals #ECR COO Mike Whitlow provides a comprehensive operational update

ECR Minerals is busy wrapping up the previous drilling campaign, with encouraging results including high-grade findings at Davey Road and broader mineralization at Kuboid Hill. The company is revisiting Baillieston to renew licenses and explore historical data for antimony, recognizing the increasing global interest in this mineral. COO Mike Whitlow provides a full operational update.

ECR Minerals #ECR – Result of AGM & Chairman Q&A with TMS

ECRECR Minerals plc (LON: ECR), the gold exploration and development company focussed on Australia, is pleased to announce that at the Company’s annual general meeting (AGM) held at 11:00 am today all resolutions proposed were passed.

Full details of the poll results are set out below:

Resolution Total Votes in Favour Percentage of Votes in Favour Total Votes Against Percentage of Votes Against Total Withheld
01 201,994,833 100.00% 164 0.00% 6,401
02 198,259,083 99.85% 293,174 0.15% 3,449,141
03 198,259,081 99.85% 293,175 0.15% 3,449,142
04 198,314,413 99.87% 243,490 0.12% 3,443,495
05 197,218,908 97.64% 4,766,088 2.36% 16,402
06 198,314,413 99.87% 243,490 0.12% 3,443,495
07 197,627,975 99.49% 995,970 0.50% 3,377,453
08 198,324,005 99.88% 233,899 0.12% 3,443,494
09 198,321,623 99.88% 236,281 0.12% 3,443,494
10 198,274,664 99.85% 293,239 0.15% 3,433,495
11 198,272,722 99.85% 295,181 0.15% 3,433,495
12 184,494,832 100.00% 164 0.00% 17,506,402

The number of shares in issue at 6:30 p.m. (UK) on 22 April 2024 was 1,839,753,425. The Company does not hold any shares in treasury.

Chairman Nick Tulloch commented: “Although our communications strategy ensures we maintain a regular dialogue with our shareholders and investors, it is nonetheless gratifying to see shareholders take the trouble to show their support by voting for the resolutions tabled at today’s AGM. ECR has an exciting year in prospect, and I look forward to reporting back to you again as our projects deliver further progress.”

Chairman Nick Tulloch recently engaged in a Q&A with Total Market Solutions, discussing current operations, the recent share placement and the Blue Mountain project. Link here to view.

FOR FURTHER INFORMATION, PLEASE CONTACT:  

ECR Minerals plc Tel: +44 (0) 20 7929 1010
Nick Tulloch, Chairman

Andrew Scott, Director

Email:

info@ecrminerals.com

Website: www.ecrminerals.com
WH Ireland Ltd   Tel: +44 (0) 207 220 1666
Nominated Adviser

Katy Mitchell / Andrew de Andrade

Axis Capital Markets Limited Tel: +44 (0) 203 026 0320
Broker
Ben Tadd/Lewis Jones
 
SI Capital Ltd Tel: +44 (0) 1483 413500
Broker
Nick Emerson
Novum Securities Limited  Tel: +44 (0) 20 7399 9425
Broker

Jon Belliss

Brand Communications Tel: +44 (0) 7976 431608
Public & Investor Relations
Alan Green

ECR Minerals #ECR – AGM Statement

ECRECR Minerals plc (LON: ECR), the gold exploration and development company focussed on Australia, announces that at the Company’s annual general meeting (AGM) at 11:00 am today the chairman will make the following statement:

“Good morning, ladies and gentlemen. Welcome to the 2024 Annual General Meeting of ECR Minerals plc.

Firstly, my thanks and appreciation to David Tang, our former chairman. It was an honour to take over from him in February and I thank him for the work he’s done for ECR.

Since Mike and I joined the company in September last year, it’s been pleasing to see a significant acceleration in the pace of operations alongside more stringent financial controls.

I’d like firstly to take this opportunity to provide shareholders with an update on our exploration plans in Australia across our projects in Queensland and Victoria.

With improving weather conditions, our field teams are preparing to return to Lolworth in Queensland. Initial assessments have revealed numerous gold-bearing streams as well as indications of rare earths mineralisation. The best indicators appear to be at our Oak Creek prospect. 

Our upcoming trenching campaign aims to provide us with a better understanding of the subsurface geology which will be a key step towards identifying and then ranking drill targets. We remain optimistic about the potential for significant mineralisation at Lolworth.

Also in Queensland, our Chief Geologist is preparing for ECR’s inaugural exploration campaign at Blue Mountain. Our preliminary analysis suggests that the historical work conducted by the previous operator presents compelling opportunities – especially for its alluvial gold potential. It currently includes an alluvial resource reported to contain at least 100,000 ounces. Subject to the necessary permissions, we’re looking forward to advancing the project potentially towards production-readiness. Encouragingly, the landowners have expressed their willingness to work with us on the project which has further increased our confidence that the project could well exceed our initial expectations.

In Victoria, building upon the success of our recent drill campaign at Creswick, we have now re-established contact with the landowners at Tambo where we expect to deploy our team in the coming weeks. Rock samples taken from the project back in 2022 yielded highly encouraging results of up to 22 g/t, and we’ll be looking to undertake a brief follow-up work programme before identifying optimal sites for drilling in due course. 

Investors will be aware that last month we raised £585,000 – notably at a 71% premium to our last raise 6 months ago when Mike and I first joined ECR. That brings the total capital raised during our time with the company to £1.16 million. Along with the existing directors’ salary sacrifice arrangements, as well as Mike and I accepting shares in lieu of salary, we are well funded and have the necessary working capital to undertake our upcoming work programs in both Queensland and Victoria. 

I’m very much looking forward to keeping our shareholders up to date on what we expect to be exciting developments over the coming weeks and months as we work to unlock the potential we see in our projects.”

FOR FURTHER INFORMATION, PLEASE CONTACT:

ECR Minerals plc Tel: +44 (0) 20 7929 1010
Nick Tulloch, Chairman

Andrew Scott, Director

Email:

info@ecrminerals.com

Website: www.ecrminerals.com
WH Ireland Ltd   Tel: +44 (0) 207 220 1666
Nominated Adviser

Katy Mitchell / Andrew de Andrade

Axis Capital Markets Limited Tel: +44 (0) 203 026 0320
Broker
Ben Tadd/Lewis Jones
 
SI Capital Ltd Tel: +44 (0) 1483 413500
Broker
Nick Emerson
Novum Securities Limited  Tel: +44 (0) 20 7399 9425
Broker

Jon Belliss

Brand Communications Tel: +44 (0) 7976 431608
Public & Investor Relations
Alan Green

ECR Minerals #ECR – Salary Sacrifice, Admission of Shares and Total Voting Rights

ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce an extension of the directors’ salary sacrifice scheme as well as the issue of new ordinary shares in respect of the existing salary sacrifice scheme.

Salary Sacrifice

In September 2023, four members of the then board of directors, David Tang, Andrew Scott, Adam Jones and Trevor Davenport, agreed to subscribe for new ordinary shares in ECR (“New Ordinary Shares”) in lieu of an aggregate of £40,000 salary (£10,000 each), thereby preserving the Company’s cash resources. These four then directors subsequently agreed to extend this arrangement on 16 November 2023 by subscribing for a further £40,000 (£10,000 each) of New Ordinary Shares in aggregate.

David Tang, Andrew Scott and Trevor Davenport have now agreed to extend this arrangement for a third time through to 30 June 2024 by subscribing for New Ordinary Shares in lieu of an aggregate of £39,000 salary (£13,000 each) that they would be otherwise due through to that date.  Adam Jones has since left the board, although remains with ECR as Chief Geologist, so is no longer included in these arrangements.

These New Ordinary Shares will be issued on or around 30 June 2024, with admission to trading commencing on or around 4 July 2024. The number of the New Ordinary Shares to be issued will be calculated by reference to (i) the price at which an equity fundraising in the Company is carried out in the period of the salary sacrifice or (ii) if there is no fundraising, the price equal to the volume weighted average price of ordinary shares in the Company calculated over the previous 14 days.  A further announcement will be made at that time.

Nick Tulloch and Mike Whitlow are already remunerated substantially by the issue of New Ordinary Shares as announced on 18 September 2023.

Issue of New Shares

The Company is pleased to confirm that the new ordinary shares awarded pursuant to the salary sacrifice announced on 16 November 2023 (“New Ordinary Shares”) have been issued and allotted.  Each of David Tang, Andrew Scott, Trevor Davenport and Adam Jones have received 3,333,333 New Ordinary Shares in lieu of an aggregate of £40,000 salary (a total of 13,333,332 Ordinary Shares).  The New Ordinary Shares were issued at a price of 0.3 pence per share in line with the fundraising announced on 14 March 2024 (in accordance the terms of the salary sacrifice)

The total ordinary shares in ECR Minerals currently held by David, Andrew and Trevor, as PDMRs of the Company, are as follows:

Name Shares in the Company Issued today Total Shares in the Company now held Percentage of the Company’s issued equity held (after admission of the New Ordinary Shares)
David Tang 3,333,333 9,047,618 0.49%
Andrew Scott 3,333,333 9,047,618 0.49%
Trevor Davenport 3,333,333 9,047,618 0.49%
Total 9,999,999

Admission and Disclosure and Transparency Rules

Application has been made for 13,333,332 New Ordinary Shares to be admitted to trading on AIM (“Admission“) and it is expected that Admission will become effective on or around 24 April 2024. The New Ordinary Shares will rank pari passu with the existing ordinary shares. Upon Admission, ECR’s issued ordinary share capital will comprise 1,839,753,425 ordinary shares of 0.001p. This number will represent the total voting rights in the Company, and, following admission 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.

Nick Tulloch, Chairman, said: “Once again, my fellow board members are continuing our ethos of aligning themselves with our shareholders and conserving the Company’s cash resources.  I would like to express my gratitude for this further vote of confidence in our strategic direction and the opportunities we are creating.”

FOR FURTHER INFORMATION, PLEASE CONTACT:

 

ECR Minerals plc Tel: +44 (0) 20 7929 1010
Nick Tulloch, Chairman

Andrew Scott, Director

Email:

info@ecrminerals.com

Website: www.ecrminerals.com
WH Ireland Ltd   Tel: +44 (0) 207 220 1666
Nominated Adviser

Katy Mitchell / Andrew de Andrade

Axis Capital Markets Limited Tel: +44 (0) 203 026 0320
Broker
Ben Tadd/Lewis Jones
 
SI Capital Ltd Tel: +44 (0) 1483 413500
Broker
Nick Emerson
Novum Securities Limited  Tel: +44 (0) 20 7399 9425
Broker

Jon Belliss

Brand Communications Tel: +44 (0) 7976 431608
Public & Investor Relations
Alan Green

ECR Minerals #ECR – CEO Nick Tulloch talks to Andrew Scott

ECR Minerals #ECR – CEO Nick Tulloch talks to Andrew Scott
✅ Kuboid Hill results
✅ Davey Road results
✅ Funded for work programmes in Victoria & Queensland
✅ Tambo next up
✅ Blue Mountain
✅ Tax losses & cash management

ECR Minerals #ECR COO Mike Whitlow talks to Stockbox

ECR Minerals Begin to Demonstrate the Scale of the Gold Mineralisation at Creswick. COO Mike Whitlow talks to Stockbox.

➡️ The COO emphasizes the importance of demonstrating extensive mineralization over narrow, high-grade shoots as revealed by recent drilling results, marking a significant breakthrough for ECR Minerals in the Creswick area.

➡️Discussion revolves around the potential for small-scale commercial operations based on obtained results, with plans to prove this potential through bulk sampling of anomalous and broad mineralization zones.

➡️Mike stresses the importance of delivering tangible results rather than speculative promises, highlighting the company’s commitment to working hard, ramping up activities, and enhancing shareholder value through strategic planning and asset management.

ECR Minerals #ECR – Creswick drilling results illustrate potentially extensive presence of larger ore bodies

ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to provide additional results from its drilling programme at the Kuboid Hill site in its Creswick tenement.  Significantly, this drilling campaign has demonstrated quartz/gold mineralisation continuity in the Creswick area with results having the hallmarks of a potential future small scale operation.

HIGHLIGHTS

  • Two high grade results of 8.87g/t Au and 8.06g/t Au over 1 metre.
  • Far more significant is the extensive broad mineralisation demonstrated in several holes where contiguous gold is present at 3.05g/t Au over 3 metres, 2.25g/t Au over 4 metres and 1g/t Au over 5 metres.
  • This compares very favourably with historical mining operations elsewhere in Victoria with broad mineralisation where those grades averaged around 0.7 g/t Au.
  • Aggregated 51 metres of mineralized quartz.
  • The drilling returned significant intercepts with evidence of anomalous gold within 14 of the 15 holes drilled.
  • Bulk sample testing at Creswick has indicated in the past both greater prevalence and higher grades of gold and this is being carried out now on the results for Kuboid Hill.

A total of 1,025 metres of reverse circulation drilling was completed at Kuboid Hill on 16 February 2024 (“Kuboid Hill Programme”). This was the second part of an extended reverse circulation drilling programme, following on from an original drilling programme of 522 metres completed at Davey Road where ECR reported a best overall grade gold of 41.03g/t Au (for full details of the results see announcement dated 12 February 2024). The Kuboid Hill Programme was designed to follow up on the Company’s anomalous gold soil sampling campaign that was completed in 2022 which indicated the potential for a broader system which can now be seen in the today’s results. The drilling also tested best practices for first pass drilling evaluation at Creswick where operators have had historical challenges of reporting a representative broad mineralisation gold grade due to the coarse and random nature of gold that is very often present in Central Victoria.

ECR has now received laboratory results for 15 out of the 17 holes drilled at Kuboid Hill, comprising leaching and fire assay. As with the Davey Road analysis, due to the nature of the course gold expected in this region, ECR then utilises dry-blowing and pan concentration on the ‘leftovers’ from the preliminary drilling results to reduce the gold bias and potentially coalesce the overall Au g/t result. These bulk samples results will follow in due course with the results from the final two holes also anticipated very soon. I.

The best individual grades so far are from two holes: 1m @ 8.87g/t Au (hole KHRC001) and 1m @ 8.06g/t Au (hole KHRC016).

Details of current drilling and significant intercepts > 1g/t

HOLEID From (m) To (m) Interval (m) Sample ID Au g/t
KHRC001 9 10 1 CRC1538 8.87
KHRC016 50 51 1 CRC1146 8.06
KHRC012 30 31 1 CRC718 3.11
KHRC010 24 25 1 CRC547 2.23
KHRC009 23 24 1 CRC608 2.18
KHRC007 20 21 1 CRC1183 1.96
KHRC010 23 24 1 CRC546 1.95
KHRC011 27 28 1 CRC789 1.28
KHRC014 42 43 1 CRC853 1.25

However, what is far more significant is the extensive broad mineralisation demonstrated in several holes where contiguous gold is present at 3.05g/t Au over 3 metres, 2.25g/t Au over 4 metres and 1g/t Au over 5 metres. The drilling recorded intercepts greater than 0.5 g/t Au average over a total of 51 metres with the broadest identified mineralised zone being over 15 metres (KHRC010). All intercepts align along strike and dip to the same mineralised zone under Kuboid Hill. Previous drilling campaigns within the Creswick project have only identified narrow veins (often less than 1 metre) and high-grade gold mineralisation styles.

Identified Broad Mineralised Zones with intercepts

HOLEID From (m) To (m) Interval (m) SampleID Au g/t Drilled intercept composite grade
KHRC001 9 10 1 CRC1538 8.87 4m @ 2.41 g/t Au
KHRC001 10 11 1 CRC1539 0.03
KHRC001 11 12 1 CRC1540 0.26
KHRC001 12 13 1 CRC1541 0.46
KHRC006 7 8 1 CRC1218 0.96 4m @ 0.52 g/t Au
KHRC006 8 9 1 CRC1219 0.03
KHRC006 9 10 1 CRC1220 0.63
KHRC006 10 11 1 CRC1221 0.45
KHRC007 19 20 1 CRC1182 0.77 6m @ 0.57 g/t Au
KHRC007 20 21 1 CRC1183 1.96
KHRC007 21 22 1 CRC1184 0.12
KHRC007 22 23 1 CRC1185 0.05
KHRC007 23 24 1 CRC1186 0.32
KHRC007 24 25 1 CRC1187 0.2
KHRC009 17 18 1 CRC601 0.45 8m @ 0.52 g/t Au
KHRC009 18 19 1 CRC602 0.12
KHRC009 19 20 1 CRC604 0.03
KHRC009 20 21 1 CRC605 0.14
KHRC009 21 22 1 CRC606 0.58
KHRC009 22 23 1 CRC607 0.03
KHRC009 23 24 1 CRC608 2.18
KHRC009 24 25 1 CRC609 0.59
KHRC010 20 21 1 CRC543 0.51 15m @ 0.51 g/t Au
KHRC010 21 22 1 CRC544 0.2
KHRC010 22 23 1 CRC545 0.03
KHRC010 23 24 1 CRC546 1.95
KHRC010 24 25 1 CRC547 2.23
KHRC010 25 26 1 CRC548 0.22
KHRC010 26 27 1 CRC549 0.14
KHRC010 27 28 1 CRC550 0.03
KHRC010 28 29 1 CRC551 0.35
KHRC010 29 30 1 CRC552 0.32
KHRC010 30 31 1 CRC553 0.03
KHRC010 31 32 1 CRC554 0.41
KHRC010 32 33 1 CRC555 0.79
KHRC010 33 34 1 CRC556 0.03
KHRC010 34 35 1 CRC557 0.43
KHRC012 27 28 1 CRC715 0.76 5m @ 1.00 g/t Au
KHRC012 28 29 1 CRC716 0.26
KHRC012 29 30 1 CRC717 0.21
KHRC012 30 31 1 CRC718 3.11
KHRC012 31 32 1 CRC719 0.67
KHRC014 42 43 1 CRC853 1.25 3m @ 0.53 g/t Au
KHRC014 43 44 1 CRC854 0.13
KHRC014 44 45 1 CRC855 0.2
KHRC016 46 47 1 CRC1142 0.27 6m @ 1.55 g/t Au
KHRC016 47 48 1 CRC1143 0.03
KHRC016 48 49 1 CRC1144 0.38
KHRC016 49 50 1 CRC1145 0.42
KHRC016 50 51 1 CRC1146 8.06
KHRC016 51 52 1 CRC1147 0.16

Whilst this is still early stage, this drilling campaign at Kuboid Hill is the first time that ECR has demonstrated that broad-scale quartz/gold mineralisation exists in the Creswick area. Also significantly broad mineralisation is also present at shallow vertical depths. This compares very well with historical small-scale commercial mining operations elsewhere in Victoria with similar broad mineralisation where those grades averaged around 0.7 g/t Au (examples being the Bailieston open pit and the Nagambie open pit). Furthermore these previous mines were established when the gold price was much lower than it is today.

Drilling at Kuboid Hill was some 8km west of previous exploration undertaken at Davey Road which is associated with, or close to, the Dimocks Main Shale corridor (“DMS”). Kuboid Hill falls within another parallel mineralised system approximately 8km west of the DMS and shows early signs of the potential to generate a low-grade, bulk tonnage proposition. This is the first type of modern exploration applied within this part of Creswick.

ECR’s next steps are to dry-blow bulk sampling of anomalous and broad mineralisation zones as described above. This follow-on step at Davey Road produced some enhancement of the results there.  These preliminary results from Kuboid Hill took some time to assemble given the extent of mineralisation zones but the Company anticipates the results of the final two drill holes and the bulk sampling will be completed more quickly.  A further announcement will be made in due course.

Mike Whitlow Chief Operating Officer said: “These results point to, what the directors believe is, a significant breakthrough at Creswick where the geological features demonstrate a distinct difference from the challenges historically faced in the region which we have previously understood to be predominated by the sporadic or random nature of coarse nuggety gold.  With this new analysis what we now understand is that Kuboid Hill has a potentially extensive presence of larger ore bodies from much broader quartz/gold mineralised zones. 

“Our Creswick tenement covers a total of 192 square kilometres and investors will be aware that ECR has undertaken a considerable amount of work on our prospects there.  We still have more to do but, importantly, what we can now see is the commercial potential in the aggregated 51 metres of mineralized quartz.  Investors may recall a video released in January of this year featuring our Chairman, Nick Tulloch, and Chief Geologist, Adam Jones, standing in front of the former open pit gold mine just to the north of our Baileston tenement.  To set today’s results in context, that Baileston mine produced approximately 20,000 oz at an average grade of around 0.7g Au/t, and whilst ECR’s Creswick tenement is still early stage, and there can be no guarantee it will produce gold, we consider this indicative of the potential in this area.

“We look forward to reporting our bulk samples shortly and, further to the placing we announced on 14 March 2024, we will shortly finalise and announce our 2024 work programme in Victoria and Queensland.”

REVIEW OF ANNOUNCEMENT BY QUALIFIED PERSON

This announcement has been reviewed by Adam Jones, Chief Geologist at ECR Minerals plc. Adam Jones is a professional geologist and is a Member of the Australian Institute of Geoscientists (MAIG). He is a qualified person as that term is defined by the AIM Note for Mining, Oil and Gas Companies.

FOR FURTHER INFORMATION, PLEASE CONTACT:

 

ECR Minerals plc Tel: +44 (0) 20 7929 1010
Nick Tulloch, Chairman

Andrew Scott, Director

Email:

info@ecrminerals.com

Website: www.ecrminerals.com
WH Ireland Ltd   Tel: +44 (0) 207 220 1666
Nominated Adviser

Katy Mitchell / Andrew de Andrade

Axis Capital Markets Limited Tel: +44 (0) 203 026 0320
Broker
Ben Tadd/Lewis Jones
 
SI Capital Ltd Tel: +44 (0) 1483 413500
Broker
Nick Emerson
Novum Securities Limited  Tel: +44 (0) 20 7399 9425
Broker

Jon Belliss

Brand Communications Tel: +44 (0) 7976 431608
Public & Investor Relations
Alan Green

ECR Minerals #ECR – Annual Report & Audited Financial Accounts for Year Ending 30 September 2023

ECR Minerals plc is pleased to announce its audited financial statements for the twelve months ended 30 September 2023 (“FY 2023”).

Copies of the Annual Report and Accounts for FY2023 with the notice of annual general meeting have been posted to shareholders and are available on the Company’s recently updated website at https://www.ecrminerals.com.

The Company intends to hold its annual general meeting at 11 am on Tuesday April 23rd 2024 at Hurlingham Studios, Ranelagh Gardens, London SW6 3PA.

Below is an extract from comments made by Chairman Nick Tulloch in the Annual Report for the year ending 30 September 2023:

“Despite the challenges thrown at ECR during 2023, we have significantly advanced the value of our assets across the group and, hopefully, as shareholders will observe, our pace of activity has accelerated into 2024. We have made a conscious effort to re-energise our investment case and activity levels are high – and reflected in increasing trading volumes on the stock exchange – so we believe that we have much to look forward to in the coming year. 

It is important to me, and my fellow directors, that our Board is now fully aligned with shareholders through our salary sacrifice and I very much look forward to participating with you all as we aim to deliver transformative value to our shareholders in the coming year.

Finally, my thanks to our shareholders for supporting us. I hope we can offer you further cause for optimism as we seek to streamline operations and costs, while adding value to ECR’s key assets going forward. I look forward to reporting back to you with further progress.”

Nick Tulloch

Chairman

Financial Summary for Year Ending 30 September 2023

For the year to 30 September 2023, the Group recorded a total comprehensive loss attributable to shareholders of the Company of £2,132,769, compared with £2,272,658 for the year to 30 September 2022. The largest contributor to the total comprehensive loss was the administrative expenses.

The Group’s net assets as at 30 September 2023 were £5,012,403 in comparison with £5,849,084 at 30 September 2022.

See below for detailed financial statements

Market Abuse Regulations (EU) No. 596/2014

This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended (“MAR”). Upon the publication of this announcement via a Regulatory Information Service, 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
Nick Tulloch, Chairman

Andrew Scott, Director

Email:

info@ecrminerals.com

Website: www.ecrminerals.com
WH Ireland Ltd   Tel: +44 (0) 207 220 1666
Nominated Adviser

Katy Mitchell / Andrew de Andrade

Axis Capital Markets Limited Tel: +44 (0) 203 026 0320
Broker
Ben Tadd/Lewis Jones
 
SI Capital Ltd Tel: +44 (0) 1483 413500
Broker
Nick Emerson
Novum Securities Limited  Tel: +44 (0) 20 7399 9425
Broker

Jon Belliss

Brand Communications Tel: +44 (0) 7976 431608
Public & Investor Relations
Alan Green

 

ABOUT ECR MINERALS PLC

ECR Minerals is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd (“MGA”) has 100% ownership of the Bailieston and Creswick gold projects in central Victoria, Australia, has six licence applications outstanding which includes one licence application lodged in eastern Victoria (Tambo gold project).

ECR also owns 100% of an Australian subsidiary LUX Exploration Pty Ltd (“LUX”) which has three approved exploration permits covering 946 km2 over a relatively unexplored area in Lolworth Range, Queensland, Australia. The Company has also submitted a license application at Kondaparinga which is approximately 120km2 in area and located within the Hodgkinson Gold Province, 80km NW of Mareeba, North Queensland.

Following the sale of the Avoca, Moormbool and Timor gold projects in Victoria, Australia to Fosterville South Exploration Ltd (TSX-V: FSX) and the subsequent spin-out of the Avoca and Timor projects to Leviathan Gold Ltd (TSX-V: LVX), MGA has the right to receive up to A$2 million in payments subject to future resource estimation or production from projects sold to Fosterville South Exploration Limited.  MGA also has approximately A$75 million of unutilised tax losses incurred during previous operations.

ECR holds a 90% interest in the Danglay gold project in the Philippines and a royalty on the SLM gold project in La Rioja Province, Argentina which could potentially receive up to US$2.7 million in aggregate across all licences.

 

Link here to view the full annual report and financial statements

ECR Minerals #ECR – Mike Whitlow and Andrew Scott discuss the £585,000 capital raise

ECR Minerals COO Mike Whitlow discusses the recent fundraise with Andrew Scott. Mike explains the mechanism behind the raise, how two key investors supported and how the money, offered at 0.3p, is a key step towards building a company with a £20-£30m market cap. Mike discusses how the cash will be deployed going forward, and the activities planned on the back of the raise.

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