ECR Minerals plc (LON: ECR), the gold exploration and development company focused on Australia, is pleased to announce that, further to the announcement of 29 July 2022, it has now received the A$950,000 sale proceeds from the property at 177 Bassett Road, Sebastian.
ECR’s 100% owned Australian subsidiary Mercator Gold Holdings Pty Ltd (“MGA”) will continue to have use of the property until 1 January 2023 for a nominal sum.
CEO Andrew Haythorpe commented: “I am pleased to announce that funds in respect of the Bassett Road sale have now been received into the ECR bank account. In the meantime, I look forward to reporting back to you on the Blue Moon drilling campaign, which starts in early September 2022, and on any developments from North Queensland as our team get onto the ground at Lolworth Range.”
FOR FURTHER INFORMATION, PLEASE CONTACT:
|ECR Minerals plc||Tel: +44 (0) 20 7929 1010|
|David Tang, Non-Executive Chairman
Andrew Haythorpe, CEO
|WH Ireland Ltd||Tel: +44 (0) 207 220 1666|
|Katy Mitchell / Andrew de Andrade|
|SI Capital Ltd||Tel: +44 (0) 1483 413500|
|Novum Securities Limited||Tel: +44 (0) 20 7399 9425|
|BlytheRay||Tel: +44 (0) 207 138 3204|
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 eight licence applications outstanding including two licence applications lodged in eastern Victoria. (Tambo gold project). MGA is currently drilling at both the Bailieston (EL5433) and Creswick (EL6148) projects and has an experienced exploration team with significant local knowledge in the Victoria Goldfields and wider region. https://mercatorgold.com.au/
ECR also owns 100% of an Australian subsidiary LUX Exploration Pty Ltd (“LUX”) which has three licence applications covering 900 km2 covering a relatively unexplored area in Queensland, Australia. https://luxexploration.com/
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), Mercator Gold Australia Pty Limited 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.
ECR holds a 70% interest in the Danglay gold project; an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines, which has a 43-101 compliant resource. ECR also holds a royalty on the SLM gold project in La Rioja Province, Argentina and can potentially receive up to US$2.7 million in aggregate across all licences.