Home » Posts tagged 'Blue Mountain project'
Tag Archives: Blue Mountain project
ECR Minerals #ECR – Unaudited Half-Yearly Results for the Six Months Ended 31 March 2026
ECR Minerals plc (AIM: ECR), the gold exploration and development company focused on Australia, is pleased to announce its unaudited half-yearly financial results for the six months ended 31 March 2026 for the Company as consolidated with its subsidiaries (the “Group”), along with a review of significant developments during and post period.
HIGHLIGHTS
Operational highlights:
· Acquisition of Paleogold Limited via a fully funded staged transaction structure following the period end, adding further nearer-term producing assets to ECR, together with an experienced operational team to oversee and accelerate their development.
· Acquisition of the Raglan Project (ML3665), a fully permitted and turnkey alluvial gold mining operation in Queensland, Australia, accelerating ECR’s transition from gold explorer to gold producer, with operational optimisation continuing to improve mining and recovery performance.
· Completion of the underground survey at Maddens is estimated to save 2-3 weeks on ventilation and escape way works, while significantly improving the Company’s understanding of the wider mineralised system and accelerating the pathway to production.
· Drone LiDAR surveys at Raglan and Maddens are currently being interpreted, with initial analysis supporting new targets at Raglan and identifying additional mineralised systems at Maddens.
· Cartwright Creek: an additional Maddens prospective area for alluvial and hard rock mining identified and surveyed, with Mining Licence application submitted.
· Lolworth continues to demonstrate what ECR considers to be district-scale exploration potential across almost 1,000 km² in North Queensland, with maiden drilling confirming a gold-silver system and further exploration programmes planned.
· Submission of the Blue Mountain Mining Licence application, supported by positive results from drilling campaigns.
· Progression of the proposed Joint Venture with Bold Gold at Creswick, through which Bold Gold would be responsible for all mandated expenditure on the Creswick licences up to a limit of A$3 million during the proposed JV period.
· Award of Exploration Licence EL007486 in Victoria (the Tambo South Licence), a tenement located directly to the south of ECR’s Tambo project.
· Assignment of the up to A$2 million royalty interest that ECR holds over the Timor Gold Project following the sale of the project by Leviathan Metals Corp. to Au Gold Corp.
Financial highlights:
· Net assets of £7,121,842 at 31 March 2026 (2025: £5,520,965)
· Total comprehensive expenses for the six months ended 31 March 2026 were £225,565 (H1 2025: £720,821)
· Operating Loss for the six months ended 31 March 2026 of £548,683 (2025: £400,729)
· Fundraising completed in January 2026 to raise gross proceeds of £1,500,000
· ECR carries A$77 million of unutilised tax losses which can be applied to production, meaning that the Board believes it will be many years before the future profits from the Company’s gold mining become taxable
ECR Chairman Nick Tulloch commented: “Over the past six months, the Board has taken a deliberate strategic decision to reposition ECR from a junior exploration company into a business focused on building a portfolio of producing and near-producing Australian gold assets with genuine scale.
“The acquisition of the Raglan Project represented the first step in that transition, giving ECR its first producing asset and invaluable operational experience. Our fully funded, staged structured acquisition of Paleogold following the period end has accelerated that strategy considerably, bringing near-producing assets, an experienced operational team and exposure to projects capable of delivering significant long-term value.
“Maddens brings not only nearer-term production potential at grades that dwarf anything achievable from alluvial operations, but also a largely unexplored 50km² district with six known historical workings, no systematic drilling and a high-grade vein system open at depth and along strike. Alongside this, our Lolworth project, close to 1,000km² in one of Queensland’s most prospective gold provinces, we believe represents the kind of district-scale exploration upside that major gold companies take notice of. Together these assets define a genuinely different ECR and we are only at the beginning of understanding what they contain.
“By the middle of next year, we remain committed to bringing Blue Mountain and Salt Bush into production, alongside Raglan and Maddens, which would give ECR a portfolio of four producing gold assets in Australia. If we are successful in these endeavours, I believe ECR will establish itself as a leading emerging Australian gold producer with multiple cash-generating operations and an exceptional pipeline of growth opportunities.”
FOR FURTHER INFORMATION, PLEASE CONTACT:
|
ECR Minerals plc |
Tel: +44 (0) 20 8080 8176 |
||
|
Nick Tulloch, Chairman Andrew Scott, Director |
|||
|
Website: www.ecrminerals.com |
|||
|
Allenby Capital Limited |
|
Tel: +44 (0) 20 3328 5656 |
|
|
Nominated Adviser and Joint Broker Alex Brearley / Nick Naylor / Vivek Bhardwaj (Corporate Finance) Kelly Gardiner (Sales and Corporate Broking)
|
|
||
|
OAK Securities Joint Broker Jerry Keen / Robert Bell
|
Tel: +44 (0) 20 3973 3678 |
||
|
Axis Capital Markets Limited |
Tel: +44 (0) 20 3026 0320 |
||
|
Joint Broker |
|||
|
Lewis Jones |
|||
|
|
|||
|
SI Capital Ltd |
Tel: +44 (0) 1483 413500 |
||
|
Joint Broker |
|||
|
Nick Emerson
|
|||
|
Brand Communications |
Tel: +44 (0) 7976 431608 |
||
|
Public & Investor Relations |
|||
|
Alan Green |
|||
ECR Minerals #ECR – Audited Financial Results for YE 30 September 2025, Annual Report & Notice of AGM
ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce the publication of its audited financial statements for the twelve months ended 30 September 2025 (“FY 2025“).
Copies of the Annual Report and Accounts for FY 2025 with the notice of annual general meeting have been posted to shareholders and will shortly be available on the Company’s website at https://www.ecrminerals.com.
The Company intends to hold its annual general meeting at 10.00 am on Friday 27 March 2025 at the offices of Allenby Capital Limited, 5th floor, 5 St. Helen’s Place, London EC3A 6AB.
Below is an extract from comments made by Chairman Nick Tulloch in the Annual Report and Accounts for FY 2025:
“During 2025 we have very significantly advanced our assets. The Raglan project and Blue Mountain are the near-term talking points in terms of the production opportunities this year. Alluvial gold is a powerful model for a company of our size, with its low capital expenditure and faster development profile. We continue to be open to further opportunities at these projects. But the scale of our ambition is wider than that and we are fortunate to have an extensive portfolio. Lolworth is perhaps the standout project with a district-scale gold and silver opportunity, but we must also not lose sight of the Victorian tenements. What was once ECR’s heartland remains a considerable asset to the company.
Finally, my thanks to all of our shareholders for supporting us. I am frequently reminded that the ride on ECR is not always smooth and there have been challenges to get where we are today. But I will finish where I started. ECR is a very different company to what it was even a few years ago. We all have considerable cause for optimism as we become a gold producer and miner. We will not forget our exploration roots and so we will also advance our other assets and our policy of keeping a tight rein on costs remains unchanged. I look forward to reporting back to you with further progress during 2026.”
Financial Summary for Year Ending 30 September 2025
For the year to 30 September 2025, the Group recorded a total comprehensive loss attributable to shareholders of the Company of £1,299,504, an increase compared with £1,183,181 for the year to 30 September 2024. The largest contributor to the total comprehensive loss was the administrative expenses.
The Group’s net assets as at 30 September 2025 were £5,161,041 in comparison with £5,240,546 at 30 September 2024.
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.
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 8080 8176 |
| Nick Tulloch, Chairman
Andrew Scott, Director |
info@ecrminerals.com |
| Website: www.ecrminerals.com | |
| Allenby Capital Limited | Tel: +44 (0) 3328 5656 |
| Nominated Adviser and Joint Broker
Alex Brearley / Nick Naylor / Vivek Bhardwaj (Corporate Finance) Kelly Gardiner (Sales and Corporate Broking) |
info@allenbycapital.com
|
|
OAK Securities Joint Broker Jerry Keen / Robert Bell
|
Tel: +44 (0) 203 973 3678 |
| Axis Capital Markets Limited | Tel: +44 (0) 203 026 0320 |
| Joint Broker | |
| Lewis Jones | |
| SI Capital Ltd | Tel: +44 (0) 1483 413500 |
| Joint Broker | |
| Nick Emerson | |
| 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 operating through three wholly owned Australian subsidiaries ECR Minerals (Australia) Pty Ltd (“ECR Australia”), ECR Minerals (Queensland) Pty Ltd (“ECR Queensland”) and ECR Minerals (Raglan) Pty Ltd (“ECR Raglan”).
ECR Australia owns the Bailieston and Creswick gold projects in central Victoria, Australia as well as the Tambo gold project in eastern Victoria.
Raglan Resources has a mining lease at the Raglan alluvial gold project in central Queensland, Australia and ECR Queensland has two approved exploration permits over the nearby Blue Mountain alluvial gold project. ECR is currently working to bring both projects into production. ECR Queensland also has three approved exploration permits covering 946 km2 over a relatively unexplored area in Lolworth Range in northern Queensland. Furthermore, it has also submitted a licence 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), ECR Australia has the right to receive up to A$2 million in payments subject to future resource estimation or production from these projects.
ECR Australia also has approximately A$76 million of unutilised tax losses incurred during previous operations.
Link here for full annual report and financial statements
| GLOSSARY | |
| Ag: | Silver |
| Au: | Gold |
| b.c.m: | Bank cubic metres (Metric) |
| g: | Grams (Metric) |
| kg: | Kilogrammes (Metric) |
| km: | Kilometres (Metric) |
| km²: | Kilometre squared (Metric) |
| M: | Metres (Metric) |
| pXRF: | Portable x-ray fluorescence (analyser) |
ECR Minerals’ #ECR Raglan Project to enter production phase. Operating team secured, initial gold expected this month
ECR Minerals plc (AIM: ECR), the gold exploration and development company focused on Australia, is pleased to announce that the Company has secured an experienced team to commence initial mining operations at its Raglan alluvial gold project in Queensland (the “Raglan Project”).
With the operating team secured, and all site infrastructure, wash plant and mobile fleet already onsite, ECR now expects initial gold production before the end of January 2026, marking the Company’s transition into a revenue-generating gold producer.
This development follows completion in December 2025 of ECR’s acquisition of the Raglan Project, a fully permitted, turnkey alluvial gold mining project.
Highlights
- Operating team secured and commercial terms agreed, enabling the commencement of mining in the coming weeks
- First gold production expected before the end of January 2026
- Raglan Project positioned to provide early cashflow, intended to support in due course ECR’s larger Blue Mountain project and the wider Queensland portfolio
- All key infrastructure, equipment and permits already in place, expected to enable an efficient ramp-up of operations at the Raglan Project
- Strong gold prices create favourable market conditions for ECR’s assets
Background on the Raglan Project
The Raglan Project (ML 3665) is a fully permitted alluvial gold mining operation located in central Queensland, Australia. Recently acquired by ECR Minerals, the Raglan Project includes a near-new 60 tonne-per-hour wash plant, a fully equipped gold room, established water supply, accommodation camp, mobile mining fleet and complete site infrastructure, providing a true turnkey mining solution. Positioned within an established gold-producing district, the Raglan Project potentially offers a low-capex, rapid pathway to production. The Raglan Project is also strategically located close to ECR’s Blue Mountain alluvial project, enabling potential operational synergies across the Company’s growing Queensland hub.
ECR Chairman, Nick Tulloch, commented: “Securing our operating team is the final major step to bring the Raglan Project into production, and I am thrilled that we can now set a clear expectation of initial gold production before the end of January 2026. This is a pivotal moment in ECR’s journey. The Raglan Project gives us a low-capex, near-term route into gold production, and the revenues which we ultimately anticipate should be able to support the development of our broader Queensland portfolio – most notably the much larger Blue Mountain project.
“Momentum across the Company has been pleasing in recent months, from strong maiden drill results at the Lolworth project confirming a gold-silver system, to completing the acquisition of the Raglan Project. With current gold prices sitting at historically high levels, the Raglan Project has the potential to be a profitable project, generating meaningful cashflow in due course that can be reinvested across the business.
“We entered 2026 with confidence and a clear operational plan. I look forward to updating shareholders as we move into production and begin generating cashflow for the first time in ECR’s history.”
FOR FURTHER INFORMATION, PLEASE CONTACT:
| ECR Minerals Plc | Tel: +44 (0) 20 8080 8176 |
| Nick Tulloch, Chairman
Andrew Scott, Director |
info@ecrminerals.com |
| Website: www.ecrminerals.com | |
| Allenby Capital Limited | Tel: +44 (0) 3328 5656 |
| Nominated Adviser and Joint Broker
Alex Brearley / Nick Naylor / Vivek Bhardwaj (Corporate Finance) Kelly Gardiner (Sales and Corporate Broking) |
info@allenbycapital.com
|
| Axis Capital Markets Limited | Tel: +44 (0) 203 026 0320 |
| Joint Broker | |
| Lewis Jones | |
| SI Capital Ltd | Tel: +44 (0) 1483 413500 |
| Joint Broker | |
| Nick Emerson | |
| Brand Communications | Tel: +44 (0) 7976 431608 |
| Public & Investor Relations | |
| Alan Green |
ECR Minerals #ECR now owns a turn-key gold mining operation in Queensland
ECR Minerals plc (AIM: ECR), the gold exploration and development company focused on Australia, is pleased to announce that, further to its previous announcements, it has completed its acquisition of Raglan Resources Pty Ltd, the owner of Licence ML 3665, a fully-permitted and turnkey alluvial gold mining project (the “Raglan Project”). All documentation has been executed and the purchase price of A$1.01 million has been paid to the vendors.
The Raglan Project, which is a fully permitted alluvial gold project and operation located in Queensland, Australia, includes a near-new 60 tonne per hour wash plant, gold room, water supply, accommodation camp, mobile mining fleet and associated site infrastructure (the “Acquisition”).
With the Acquisition completed, permitting in place and all key equipment on site, ECR will look to start production in the new year. Preparations for this are already underway and the Board expects that revenues can be generated in the nearer-term. The Raglan Project is also planned to provide a stepping stone to assist with operations at ECR’s larger Blue Mountain project, accelerating the pathway to production across ECR’s wider Queensland portfolio.
ECR’s Chairman, Nick Tulloch, commented: “Our acquisition of the Raglan Project marks a decisive moment for ECR and sets the stage for what we believe will be a breakthrough year for the Company. The Raglan Project is a ready-to-run gold mining operation and bringing it into the business positions ECR to move from an explorer to a producer.
“Nearer-term gold production from the Raglan Project is planned to generate revenue for ECR for the first time in the Company’s history, aiming to support both ongoing work at Raglan as well as advancing our other projects. The most important of those is Blue Mountain which, based on acreage, is a potentially far larger project. The proximity of the two projects will enable us to share plant and equipment and operational expertise across both sites, aiming to enhance the efficiency of both. We also intend to utilise our A$76 million of tax losses to offset against future production profits.
“With the price of gold – and particularly silver – recently pushing to new highs, timing could not be better. Raglan gives us a low-capex route into production, and the cashflows we expect to generate have the potential to advance our high-potential exploration assets, especially the Lolworth project in Northern Queensland, where recent drilling confirmed a gold-silver system.
“As we look ahead, 2026 is shaping up to be the year that ECR truly evolves from an explorer into a revenue generating gold producer. We look forward to keeping shareholders fully updated as we execute our plans.”
FOR FURTHER INFORMATION, PLEASE CONTACT:
|
ECR Minerals Plc |
Tel: +44 (0) 20 8080 8176 |
|
Nick Tulloch, Chairman Andrew Scott, Director |
|
|
Website: www.ecrminerals.com |
|
|
Allenby Capital Limited |
Tel: +44 (0) 3328 5656 |
|
Nominated Adviser and Joint Broker Alex Brearley / Nick Naylor / Vivek Bhardwaj (Corporate Finance) Kelly Gardiner (Sales and Corporate Broking) |
|
|
Axis Capital Markets Limited |
Tel: +44 (0) 203 026 0320 |
|
Joint Broker |
|
|
Lewis Jones |
|
|
|
|
|
SI Capital Ltd |
Tel: +44 (0) 1483 413500 |
|
Joint Broker |
|
|
Nick Emerson |
|
|
Brand Communications |
Tel: +44 (0) 7976 431608 |
|
Public & Investor Relations |
|
|
Alan Green |
ECR Minerals #ECR – Strong new drill results expand alluvial gold footprint at Blue Mountain and visible gold and near-term production potential confirmed
ECR Minerals plc (AIM: ECR), the exploration and development company focused on gold in Australia, is pleased to report a highly encouraging set of alluvial drilling results from its Blue Mountain Project (“Blue Mountain”) in Central Queensland. These drilling results continue to strengthen the case for near-term, low-cost alluvial gold production, with the drilling results confirming visible coarse gold and the expansion of multiple unmined gold-bearing creek flats.
Highlights
· Visible coarse gold recorded in multiple drill samples from the newly identified Upper Kariboe Creek alluvial flat.
· Continuity of mineralisation now mapped across approximately 250 metres of strike, with widths ranging from 6 to 35 metres.
· Grades exceeding the 0.15 g/b.c.m cut-off returned via 19 intersections, including standout results up to 6.52 g/b.c.m, typically indicating the presence of nuggety near-source gold.
· Wash-plant trial work at the Lower Patterson area continues to demonstrate practical mining grades averaging 0.35g/b.c.m, considered favourable to grades in operating alluvial mines across North Queensland.
· Multiple areas now identified as potential start-up gold production zones, including Lower Patterson, Upper Kariboe, Windmill and Roan Colt.
ECR’s Chief Geologist, Adam Jones, commented: “These are some of the most encouraging alluvial results we’ve seen from Blue Mountain to date. Not only have we mapped a continuous gold-bearing corridor across the new Upper Kariboe Creek flat, we are now also consistently seeing visible coarse gold in multiple samples. That is always an exciting moment for a geologist, as coarse, nuggety particles typically indicate that you are close to the source and that the system has real strength.
“Our drilling has delivered far more than we initially expected. We set out to understand the gold trail and the host gravels, but the results are now giving us a clear picture of multiple unmined zones that have the potentiual to translate into a near-term alluvial production opportunity. The combination of strong drill grades, visible gold and the successful wash-plant trials at Lower Patterson is building genuine confidence that Blue Mountain has the scale and quality to support a commercially viable start-up operation.”
Summary of Drilling Program
A total of 264 shallow drill holes were completed in August 2025 across the Upper Kariboe and Denny Gully areas. The objective was to identify shallow, mineable alluvial gold deposits suitable for cost-efficient production.
Each hole was drilled from surface to bedrock, with samples collected every metre and assessed for gold content, material type and the presence of visible gold. Concentrated gravel samples were fire-assayed at On-Site Laboratory Services in Bendigo, and gold recovered was used to estimate grammes of gold per bank cubic metre (b.c.m) – which is considered to be the industry standard measure for alluvial mining viability.
Inevitably, gold particle size and distribution varies in alluvial systems, but the drilling campaign has provided a clear, reliable picture of the gold trail, allowing ECR to identify high-priority potential production zones with growing confidence.
Latest Drill Results
These results come from a previously untested, unmined creek flat at Upper Kariboe Creek (See Table 1 and Figure 1). This area is now emerging as one of the strongest alluvial targets in the project to date and, as a consequence, represents a further potential extension of the potential production zones in the project area.
Key outcomes:
· 19 samples above the 0.15 g/b.c.m cut-off, ranging from 0.16 g/b.c.m up to 6.52 g/b.c.m
· Multiple high-grade intersections contain coarse, nuggety gold, suggesting proximity to a primary source
· Mineralisation appears to form a continuous, mineable corridor approximately 230 metres long, with widths between 6 – 35 metres
· This is the first area where ECR has confirmed larger visible gold particles, representing a significant step forward in confidence
Table 1. Alluvial Drill Results for Significant Intercepts and Depths of Zones Tested (@ cut off => 0.15 g/b.c.m)
|
Traverse |
HOLE |
FROM (metres) |
TO (metres) |
DRILLING INTERVAL (metres) |
SAMPLEID |
Au (ppm) |
Au (mg) |
Estimated average grade of mineralisation grammes per b.c.m |
|
Section 28 |
S28H5 |
6 |
7 |
1 |
BMDC328 |
1600 |
67.7 |
6.52 |
|
Section 29 |
S29H6 |
6 |
7 |
1 |
BMDC357 |
2380 |
58.7 |
5.65 |
|
Section 27 |
S27H12 |
6 |
7 |
1 |
BMDC312 |
1630 |
40.5 |
3.90 |
|
Section 27 |
S27H1 |
3 |
4 |
1 |
BMDC374 |
1170 |
33.1 |
3.19 |
|
Section 33 |
S33H2 |
5 |
6 |
1 |
BMDC398 |
894 |
27.8 |
2.68 |
|
Section 29 |
S29H5 |
5 |
6 |
1 |
BMDC353 |
835 |
26.9 |
2.59 |
|
Section 27 |
S27H4 |
4 |
5 |
1 |
BMDC383 |
696 |
13.3 |
1.28 |
|
Section 29 |
S29H7 |
5 |
6 |
1 |
BMDC360 |
334 |
12.5 |
1.20 |
|
Section 31 |
S31H2 |
1 |
2 |
1 |
BMDC431 |
344 |
11.8 |
1.14 |
|
Section 32 |
S32H1 |
3 |
4 |
1 |
BMDC461 |
188 |
7.02 |
0.68 |
|
Section 27 |
S27H3 |
5 |
6 |
1 |
BMDC380 |
442 |
6.76 |
0.65 |
|
Section 30 |
S30H5 |
5 |
6 |
1 |
BMDC417 |
136 |
5.51 |
0.53 |
|
Section 29 |
S29H8 |
5 |
6 |
1 |
BMDC363 |
88.1 |
3.95 |
0.38 |
|
Section 29 |
S29H10 |
6 |
7 |
1 |
BMDC369 |
103 |
3.5 |
0.34 |
|
Section 33 |
S33H5 |
5 |
6 |
1 |
BMDC407 |
108 |
3 |
0.29 |
|
Section 32 |
S32H5 |
5 |
6 |
1 |
BMDC476 |
53.1 |
2.39 |
0.23 |
|
Section 27 |
S27H11 |
6 |
7 |
1 |
BMDC309 |
116 |
2.1 |
0.20 |
|
Section 33 |
S33H1 |
5 |
6 |
1 |
BMDC395 |
60.9 |
1.68 |
0.16 |
|
Section 28 |
S28H4 |
5 |
6 |
1 |
BMDC323 |
47.7 |
1.66 |
0.16 |
Figure 1. Overview of Target Areas, Blue Mountain, EPM27183.
Wash Plant Trials (Lower Patterson)
To validate drill grades under more real-world conditions, four bulk samples were run through a trial wash plant at Lower Patterson (See Table 2 and Figure 2). These tests simulated future production and confirmed highly recoverable gold values.
Key results:
· Average trial grade: 0.35 g/b.c.m
· Consistent recovery across all samples, including those taken from drill-defined zones
· Coarse gold observed during processing
· Trial grades are considered favourable to third-party established alluvial operations currently running across North Queensland
Taken together, the drilling and wash-plant outcomes reinforce Lower Patterson as a commercially attractive start-up mining area, with potential for near-term development.
Table 2. Trial Wash Plant Results from the Lower Patterson Area (Locations referenced in Figure 1).
|
Location |
Volume Processed (b.c.m) |
Recovered Gold (grams) |
Estimated Grade Wash Plant Trial (Au/b.c.m) |
Indicated Drill Grade (Au/b.c.m) |
|
A |
1.25 |
0.52 |
0.42 |
N/A |
|
B |
1.0 |
0.49 |
0.49 |
N/A |
|
C (Section 1 Hole 1) |
1.0 |
0.23 |
0.23 |
1.14 |
|
D (Section 1 Hole 10) |
1.0 |
0.26 |
0.26 |
0.49 |
|
TOTAL |
4.25 |
1.5 |
0.35 (Average trial grade) |
|
Figure 2. Coarse gold particle size, Lower Patterson Area.
Peripheral Drilling – Expansion of Target Area
Drill traverses at Windmill, Roan Colt and upper Dennys Gully have been completed, with further assay results pending in due course. Visible gold was noted during the preparation of several samples, and management anticipates that these areas may further increase the overall footprint with potential for near-term development. Of particular significance is drilling west of the original Lower Patterson flat.
Many of these peripheral areas show no evidence of historic mining, meaning ECR is the first to systematically test and map their gold potential.
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 8080 8176 |
|
Nick Tulloch, Chairman Andrew Scott, Director |
|
|
Website: www.ecrminerals.com |
|
|
Allenby Capital Limited |
Tel: +44 (0) 3328 5656 |
|
Nominated Adviser and Joint Broker Alex Brearley / Nick Naylor / Vivek Bhardwaj (Corporate Finance) Kelly Gardiner (Sales and Corporate Broking) |
|
|
Axis Capital Markets Limited |
Tel: +44 (0) 203 026 0320 |
|
Joint Broker |
|
|
Lewis Jones |
|
|
|
|
|
SI Capital Ltd |
Tel: +44 (0) 1483 413500 |
|
Joint Broker |
|
|
Nick Emerson |
|
|
Brand Communications |
Tel: +44 (0) 7976 431608 |
|
Public & Investor Relations |
|
|
Alan Green |
ECR Minerals #ECR – November Operations update
ECR Minerals plc (AIM: ECR), the exploration and development company focused on gold in Australia, is pleased to provide an update on the next steps following the successful conclusion of its 2025 drilling programme at the Lolworth Gold and Rare Earths Project (“Lolworth”) and the Blue Mountain Project (“Blue Mountain”) in Queensland, together with a wider update on progress in respect of its other operations and recent activities.
The Company’s operational focus continues to centre on establishing near-term production at its advanced-stage Queensland alluvial gold projects, while seeking to unlock the large-scale discovery potential across its broader tenement package in one of Australia’s most prospective gold provinces.
Highlights
- Assay results from drilling at Lolworth and Blue Mountain are expected this month.
- Visual indicators from wash plant trials at Blue Mountain support plans for commercial production.
- Legal documentation for proposed acquisition of the Raglan Project are well advanced, with discussions with production partners underway.
- Creswick JV (defined below) discussions ongoing and the ECR board are assessing opportunities for other tenements.
Queensland drilling programme
During July and August, ECR drilled almost 400 holes across the Lower Patterson, Windmill and Upper Kariboe Creek areas at Blue Mountain using a reverse circulation drilling rig. Visible gold has been confirmed in multiple zones and preliminary results were announced on 15 September 2025 confirming extensive gold mineralisation in the Lower Patterson area. Samples from the remaining holes have been sent for assay and results are expected this month.
The rig then moved to Lolworth where ECR drilled 21 holes at the Uncle Terry prospect and a further seven holes at the Gorge Creek West prospect, to depths of between 30 and 42 metres, during September. Drill samples have now been packaged and recorded and are also with the laboratory for assay.
Following completion of activities at Lolworth, the ECR team returned to Blue Mountain where several wash plant trials were conducted to determine the likely gold recovery. The trials were conducted over both high and low grade material and preliminary observations based on visible gold have been encouraging.
As previously announced, the distribution of gold particles within the alluvial gravels at Blue Mountain is not yet fully known. Drill samples are small volumes of material and so, whilst drill results are indicative of the location of gold and therefore where mining may in the future take place, they are not suitable for resource estimation or for providing a definitive indication of grade. The wash plant trials are conducted with bulk samples which are designed to determine a more representative gold content and potential recovery rate. Interestingly, and based on visible analysis, results appear to be better in the lower grade material areas. This supports ECR’s theory that there is an element of coarse gold at Blue Mountain which cannot always be reliably picked up from drill samples.
Further analysis of the wash plant samples is currently being conducted.
Although several results are outstanding, the information to date supports ECR’s belief in respect of the commercial opportunity at Blue Mountain. Once all the results are available, ECR intends to submit a mining lease application in the fourth quarter of 2025, as the next step towards production at Blue Mountain and cashflow generation.
Raglan Project – Near-Term Production of Alluvial Gold
As announced on 1 October 2025 and 17 October 2025, ECR is proposing to acquire Raglan Resources Pty Ltd (the “Proposed Acquisition”), the holder of Licence ML 3665 (the “Raglan Project”) for A$1.01 million. The purchase price is fully funded by the subscription announced on 1 October 2025. Legal documentation is now very advanced and subject only to comments from the vendors’ lawyers. All due diligence questions have also been submitted and, to date, the information supplied has been in line with ECR’s expectations. As such, ECR anticipates completing the Proposed Acquisition this month.
Pending anticipated completion of the Proposed Acquisition, ECR has also begun discussions with a potential production team, the aim being to ensure that gold production at the Raglan Project can begin within a relatively short time thereafter.
There can be no certainty that final binding terms will be agreed in order to complete the Proposed Acquisition, nor as to the timing or final terms, value or conditions of the Proposed Acquisition. Further updates will be provided in due course.
Other tenements
On 18 September 2025, ECR announced that it had entered into a non-binding heads of terms with Exertis Pty Ltd trading as Bold Gold (“Bold Gold”) for a proposed joint venture (the “Creswick JV”) covering the Company’s Creswick Gold Project in Victoria, Australia. Discussions remain ongoing.
The Company is also undertaking a review of its portfolio including tenements that have received less focus. We consider that it has long been a strength of ECR that it holds an extensive and diverse portfolio but, with the near-term production and revenue opportunities in Queensland, the board of directors is assessing future operations to ensure it gets the best value out of all projects without diverting from its core strategic objectives. In this regard, and by way of example, the Company is assessing an approach for a possible joint venture over another of its tenements. This discussion is at a very early stage but is illustrative of the board’s plans for the future. The Company operates with a small team and the objective is to ensure that they are able to focus on the highest impact projects. ECR expects to develop its work programme for 2026 shortly, although it will be no surprise to investors that it will be dominated by the Queensland projects.
ECR Chairman Nick Tulloch added: “It may have been relatively quiet on the news front for ECR in the past few weeks but, behind the scenes, it has been a very busy period for us. All samples from the Queensland drilling campaigns are now in the laboratory for analysis, as are the outputs from the wash plant trials at Blue Mountain. The administrative tasks of preparing to produce gold, initially at Raglan once this Proposed Acquisition has been completed and then nearby at Blue Mountain, are also well advanced.
“We believe that ECR is undergoing a transformation from explorer to producer and these forthcoming assay results will shape our plans in this regard at Blue Mountain. Meanwhile we continue to work towards the conclusion of our Proposed Acquisition of the Raglan project where we anticipate commencing production relatively quickly after completion.
“This repositioning of our strategy over the last year naturally requires an assessment of portfolio. We operate with a small team and, as we concentrate on alluvial gold production, we will ensure that we continue to build value in our other projects. These plans will develop over the coming months and I will look forward to updating shareholders during that period.”
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 8080 8176 |
| Nick Tulloch, Chairman
Andrew Scott, Director |
info@ecrminerals.com |
| Website: www.ecrminerals.com | |
| Allenby Capital Limited | Tel: +44 (0) 3328 5656 |
| Nominated Adviser and Joint Broker | info@allenbycapital.com |
| Alex Brearley / Nick Naylor / Vivek Bhardwaj (Corporate Finance) | |
| Kelly Gardiner (Sales and Corporate Broking) | |
| Axis Capital Markets Limited | Tel: +44 (0) 203 026 0320 |
| Joint Broker | |
| Lewis Jones | |
| SI Capital Ltd | Tel: +44 (0) 1483 413500 |
| Joint Broker | |
| Nick Emerson | |
| 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 operating through two wholly owned Australian subsidiaries ECR Minerals (Australia) Pty Ltd (“ECR Australia”) and ECR Minerals (Queensland) Pty Ltd (“ECR Queensland”).
ECR Australia owns the Bailieston and Creswick gold projects in central Victoria, Australia as well as the Tambo gold project in eastern Victoria.
ECR Queensland has two approved exploration permits over the Blue Mountain alluvial gold project in central Queensland, Australia, which it is currently working to bring into production. It also has three approved exploration permits covering 946 km2 over a relatively unexplored area in Lolworth Range in northern Queensland. Furthermore, ECR Queensland has also submitted a licence 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), ECR Australia has the right to receive up to A$2 million in payments subject to future resource estimation or production from these projects.
ECR Australia also has approximately A$75 million of unutilised tax losses incurred during previous operations.
ECR Minerals #ECR defines Queensland gold growth strategy following successful drilling at Lolworth. Strategic focus on near-term alluvial gold production and major exploration in Queensland
ECR Minerals plc (AIM: ECR), the gold exploration and development company focused on Australia, is pleased to announce the successful conclusion of its 2025 drilling programme at the Lolworth gold and rare earths project in North Queensland, Australia (the “Lolworth Project”), together with a wider update on progress at its alluvial gold operations at the Blue Mountain project in Queensland, Australia (the “Blue Mountain Project”) and its proposed acquisition of Licence ML 3665 (the “Raglan Project”).
The Company’s operational focus continues to centre on establishing near-term production at its advanced-stage Queensland alluvial gold projects, while unlocking the large-scale discovery potential across its broader tenement package in one of Australia’s most prospective gold provinces.
Highlights
- Successful completion of drilling at the Lolworth Project, confirming gold and silver-bearing veins at shallow depths.
- Ongoing wash plant trials and resource modelling at the Blue Mountain Project ahead of a full mining lease application intended to be made in the fourth quarter of 2025 (“Q4 2025”).
- Proposed acquisition of the Raglan Project (the “Proposed Acquisition”) advancing towards completion, with first gold production targeted for Q4 2025.
- Pre-completion restructuring to remove surplus assets has reduced the cost of the Proposed Acquisition to A$1.01 million plus any applicable GST in cash.
- Further updates in Q4 2025 are expected to include assay results, wash plant trial outcomes and the potential conclusion of the Creswick JV (as defined below).
Lolworth Project
Located close to 1,000 square kilometres in North Queensland, the Lolworth Project is a large-scale exploration project prospective for gold, silver, lead and rare earth elements. The Lolworth Project remains free of native title claims, enabling straightforward and low-cost exploration access.
The 2025 drill programme has successfully validated the Company’s geological interpretation of gold and silver-bearing vein systems at Uncle Terry prospect, with all predicted veins intersected. ECR drilled 21 reverse circulation (“RC”) holes at the Uncle Terry prospect and a further seven at the Gorge Creek West prospect, to depths of between 30 and 42 metres.
ECR’s chief geologist Adam Jones, who has been on site throughout the drilling campaign, reported strong visual results including multiple intersections of sulphides and, in particular, visible silver mineralisation. Rock chip sampling and soil XRF analysis will be undertaken before Adam’s departure from site, with initial assay results from the drilling campaign expected in the coming weeks.
Blue Mountain Project
At Blue Mountain, ECR is finalising its most extensive alluvial gold drilling programme to date, with close to 400 holes completed across the Lower Patterson, Windmill and Upper Kariboe Creek areas. Visible coarse gold has been confirmed in multiple zones.
Adam Jones is expected to return to the Blue Mountain Project site next week to pan and weigh more than 150 samples prior to detailed assay testing. These results are expected to feed into the upcoming wash plant trials, which will include selective testing of both high-and-low-grade material to validate the drill results and inform an initial internal resource estimate.
Following the conclusion of wash plant trials, and therefore evidence of the extent of the commercial opportunity at the Blue Mountain Project, ECR intends to submit a mining lease application during Q4 2025, an important milestone towards near-term production and cashflow generation.
Raglan Project – near-term production of Alluvial Gold
The Raglan Project, located near Gladstone, Queensland, represents a fully permitted alluvial gold operation with an existing mining lease and a 60-tonne-per-hour wash plant on site. Following a successful due diligence site visit earlier this month, ECR is aiming to complete the Proposed Acquisition in the coming weeks and is already preparing personnel for mobilisation. The final stages of the Proposed Acquisition are expected to involve concluding the legal documentation and due diligence. This is well underway and proceeding satisfactorily and, in particular, the parties have agreed certain simplifications of the structure.
ECR will now only acquire Raglan Resources Pty Ltd (“Raglan Resources”), the holder of Licence ML 3665, and Raglan Mining Pty Ltd will be retained by the vendors. This is part of the pre-completion restructuring of Raglan Resources by the vendors so that any unrelated tenements and non-core assets can be excluded from the Proposed Acquisition, in line with the Company’s notification on 1 October 2025. The vendors have confirmed that Raglan Resources carries A$1.2 million of unutilised tax losses that can be amalgamated with ECR’s existing A$75 million of tax losses and applied against its forthcoming production projects.
Pursuant to this restructuring, the parties have also agreed that certain surplus equipment will also be excluded from the Proposed Acquisition and sold separately by the vendors. As a result, a corresponding A$90,000 price reduction to A$1.01 million plus any applicable GST in cash has been agreed.
Operations at the Raglan Project are targeted to commence during Q4 2025, providing the Company potentially with immediate production capability – and revenue – while the Blue Mountain Project final planning process and mining lease application progresses. As previously announced, there are expected to be operational synergies between the two projects with the ability to redeploy both personnel and operating equipment at the Blue Mountain Project at the appropriate time.
This dual-track approach positions ECR to potentially generate near-term revenues while advancing the larger-scale development potential of its Queensland portfolio.
The Proposed Acquisition remains subject to, among other things, further due diligence by ECR and the execution of a legally binding agreement governing the Proposed Acquisition. There can therefore be no certainty that final binding terms will be agreed in order to complete the Proposed Acquisition, nor as to the timing or final terms, value or conditions of the Proposed Acquisition. Further updates will be provided in due course.
Raglan Resources reported unaudited total assets of A$1.37 million for the year ended 30 June 2024 and an unaudited total net loss of A$0.15 million for the same period. This unaudited financial information is before the proposed restructuring of Raglan Resources, to exclude any unrelated tenements and non-core assets from the Proposed Acquisition, as described above.
Proposed joint venture at the Creswick Gold Project, Victoria
On 18 September 2025, ECR announced that it had entered into non-binding heads of terms with Exertis Pty Ltd trading as Bold Gold (“Bold Gold”) for a proposed joint venture (the “Creswick JV”) covering the Company’s Creswick Gold Project in Victoria, Australia. The Company has prepared a data room detailing the history of the project and which Bold Gold have access to. Following completion of Bold Gold’s due diligence, the final step are expected to be the entry into a legally binding agreement for the Creswick JV, the terms of which are agreed and set out in the 18 September 2025 announcement.
Under the terms of the Creswick JV, Bold Gold will fund all exploration costs by investing up to A$3 million to earn an 80% interest through staged exploration expenditure. ECR will retain an interest in a project which it believes potentially has considerable potential upside but is able to focus its management time and resources on its Queensland projects.
The Creswick JV will be subject to, among other things, due diligence by Bold Gold, entry into a legally binding JV agreement and satisfaction of regulatory requirements. There can therefore be no certainty that final binding terms will be agreed, nor as to the timing or final terms, value or conditions of the Creswick JV.
ECR Chief Geologist Adam Jones commented: “The completion of our first drilling campaign at the Lolworth Project marks a significant step forward for ECR. We’ve confirmed the presence of gold and silver in multiple vein systems and identified several new mineralised outcrops for follow-up. The visuals are highly encouraging, and the Lolworth Project continues to show the scale and geological potential to be a major discovery in Queensland. With no native title constraints and close to 1,000 square kilometres of prospective ground, we believe Lolworth to be a project with truly district-scale potential.”
ECR Chairman Nick Tulloch added: “The successful drilling at the Lolworth Project marks an important milestone for ECR as we build momentum across our Queensland portfolio. With production planning advancing at both the Raglan Project and the Blue Mountain Project, and assay results and wash plant trials due in the coming weeks, the remainder of 2025 is expected to set the scene for what is a pivotal period for the Company as we graduate from an explorer to a producer. We are entering Q4 2025 with a significant number of near-term value catalysts that we believe are capable of redefining ECR. The Lolworth Project remains our flagship exploration project with enormous upside potential, while our near-term production projects at the Blue Mountain Project and the Raglan Project underpin the Company’s transition towards cashflow generation.”
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 8080 8176 |
| Nick Tulloch, Chairman
Andrew Scott, Director |
info@ecrminerals.com |
| Website: www.ecrminerals.com | |
| Allenby Capital Limited | Tel: +44 (0) 3328 5656 |
| Nominated Adviser and Joint Broker | info@allenbycapital.com |
| Alex Brearley / Nick Naylor / Vivek Bhardwaj (Corporate Finance) | |
| Kelly Gardiner (Sales and Corporate Broking) | |
| Axis Capital Markets Limited | Tel: +44 (0) 203 026 0320 |
| Joint Broker | |
| Lewis Jones | |
| SI Capital Ltd | Tel: +44 (0) 1483 413500 |
| Joint Broker | |
| Nick Emerson | |
| 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 operating through two wholly owned Australian subsidiaries ECR Minerals (Australia) Pty Ltd (“ECR Australia”) and ECR Minerals (Queensland) Pty Ltd (“ECR Queensland”).
ECR Australia owns the Bailieston and Creswick gold projects in central Victoria, Australia as well as the Tambo gold project in eastern Victoria.
ECR Queensland has two approved exploration permits over the Blue Mountain alluvial gold project in central Queensland, Australia, which it is currently working to bring into production. It also has three approved exploration permits covering 946 km2 over a relatively unexplored area in Lolworth Range in northern Queensland. Furthermore, ECR Queensland has also submitted a licence 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), ECR Australia has the right to receive up to A$2 million in payments subject to future resource estimation or production from these projects.
ECR Australia also has approximately A$75 million of unutilised tax losses incurred during previous operations.
ECR Minerals #ECR – Extensive zones of gold mineralisation confirmed in early drilling at Blue Mountain
ECR Minerals plc (AIM: ECR), the gold exploration and development company focused on Australia, announces the first set of gold results from drill sampling at the Lower Patterson area within the Blue Mountain gold project, Queensland, Australia (the “Blue Mountain Project”).
HIGHLIGHTS
- Initial drilling results confirm extensive zones of consistent gold mineralisation at the Lower Patterson prospect – an area not previously mined.
- Peak results include 1m estimated @ 1.14 g per b.c.m and 1m estimated @ 1.07 g per b.c.m.
- 17 samples estimated above 0.15 g per b.c.m demonstrating wide continuity across three drilled sections.
- Results highlight the increasing scale and potential of the gold-bearing gravels at the Blue Mountain Project – particularly as new areas of gold mineralisation are identified.
Sampling Programme
An initial programme of vertical reverse circulation drill hole traverses was completed at the Blue Mountain Project in the Lower Patterson area (see Figure 1). Five traverses were drilled, consisting of 36 holes, each having an individual depth ranging from approximately 5 to 12 metres, with a total combined depth of 291 metres. Samples were collected at one-metre intervals from surface to basement contact, with each 115 mm-diameter sample representing approximately 10 kg in 0.01 cubic metres of material. The purpose of this type of drilling is not to recover a representative sample in alluvial terrains but to confirm the presence of gold (visually) followed up by assays to detect very fine-grained gold. Assay results are only indicative of gold content.
Each sample was panned down to a representative concentrate of around 100 grammes. Visible gold was logged and visually estimated. Concentrate samples were then analysed at OSLS-Bendigo for total gold content, reported in milligrams per sample. Results were converted to an estimated bank cubic metre (b.c.m) equivalent to using a factor of 96.27 samples per b.c.m.
The strongest mineralised intervals (≥0.15 g per b.c.m) were recorded in three drill sections, including total aggregated widths of 66 metres in Section 1, 11 metres in Section 2, and 81 metres across four zones in Section 3. These results are considered to highlight the very extensive scale of gold-bearing gravels within the Lower Patterson area (See Figure 1).
The objective of this initial drill programme was to map out the extent and scale of the mineralised alluvial zones. Based on the results received, the exercise is considered by management to have been highly successful. Noting that the Lower Patterson area has not previously been mined, this represents a potential extension of the Blue Mountain Project. Furthermore, the current gold price levels and the shallow depths at Blue Mountain may create further extension possibilities as lower cut off grades may now be economic.
The distribution of gold particles within the alluvial gravels at the Blue Mountain Project is currently not fully known. As drill samples represent small volumes of material, these initial results cannot be used for resource estimation or provide a definitive indication of grade variability until other work has been performed, including follow-up wash plant trials which are designed to determine the true gold content and potentially verify the drilling grades.
Figure 1: Plan of Lower Patterson drill traverses showing extent of gold ≥ 0.15 g b.c.m
Next Steps
- ECR has drilled two other similar-sized creek flats at the Blue Mountain Project, namely the Denny’s Creek and Upper Kariboe areas, with results expected likely in October.
- The Company has received external interest in potential production partnerships, with preliminary discussions now in progress. There can, however, be no guarantee as to the conclusion of any such discussions, nor as to the timing or terms, structure or value of any such production partnership.
Blue Mountain Gold Project
The Blue Mountain Gold Project is located in North Queensland within the historic goldfields of the region. The Blue Mountain Project area hosts extensive alluvial workings along the Kariboe Creek and its tributaries, much of which was only partially exploited by historic operators. The Board believes that ECR is the first company to undertake a modern systematic drilling programme across these alluvial channels, providing detailed information on gold distribution within the gravels.
With large volumes of alluvial material present, the Blue Mountain Project offers both near-term production potential and longer-term exploration upside, as the Company continues to assess the broader extent of gold mineralisation across the Blue Mountain Project.
Nick Tulloch, ECR’s Chairman commented: “These first results from drill sampling at the Lower Patterson area have exceeded our expectations. They demonstrate consistent gold occurrences across wide zones and provide a strong foundation as we continue our programme. The objective of this work was to define the extent of gold-bearing channels, rather than just indicative grade points, and in this respect the results are very encouraging. This is particularly pleasing in areas that have apparently not been mined before, as we are potentially augmenting the alluvial resource inventory on the property. We await the results from the Denny’s Creek and Upper Kariboe areas and, with the success of what we are seeing, it is perhaps no surprise that we have attracted interest from potential partners who recognise the potential commercial production opportunity at the Blue Mountain Project. We look forward to providing further updates as results and discussions progress.”
DRILLING RESULTS FOR SIGNIFICANT INTERCEPTS AND DEPTHS OF ZONES TESTED
All results equal to or greater than 0.15 grams per bank cubic metre (b.c.m).
| Traverse # | Hole # | From (metres) | To (metres) | Length (metres) | TOTAL Au (mg) | Estimated average grade of mineralisation (grams per b.c.m) |
| Section 1 | 1 | 4 | 5 | 1 | 11.8 | 1.14 |
| Section 1 | 2 | 4 | 5 | 1 | 2.13 | 0.21 |
| Section 1 | 3 | 5 | 6 | 1 | 1.68 | 0.16 |
| Section 1 | 5 | 5 | 6 | 1 | 1.94 | 0.19 |
| Section 1 | 7 | 3 | 4 | 1 | 4.62 | 0.44 |
| Section 1 | 10 | 5 | 6 | 1 | 5.09 | 0.49 |
| Section 1 | 11 | 5 | 6 | 1 | 3.49 | 0.34 |
| Section 1 | 12 | 5 | 6 | 1 | 3.76 | 0.36 |
| Section 2 | 6 | 6 | 7 | 1 | 1.8 | 0.17 |
| Section 3 | 1 | 3 | 4 | 1 | 2.25 | 0.22 |
| Section 3 | 2 | 4 | 5 | 1 | 2.78 | 0.27 |
| Section 3 | 3 | 3 | 4 | 1 | 1.77 | 0.17 |
| Section 3 | 4 | 2 | 3 | 1 | 11.1 | 1.07 |
| Section 3 | 5 | 5 | 6 | 1 | 1.79 | 0.17 |
| Section 3 | 7 | 3 | 4 | 1 | 2.01 | 0.19 |
| Section 6 | 3 | 4 | 5 | 1 | 1.99 | 0.19 |
| Section 7 | 3 | 4 | 5 | 1 | 2.94 | 0.28 |
Note: Estimated g/b.c.m calculated by multiplying total weight of gold (mg) obtained from a 0.115 m x 1 m drill hole sample to volume of cubic metre (96.27 x mg). Results rounded to two significant figures.
DRILL HOLE LOCATION DETAILS
Easting/Northing coordinates using GDA94 Zone 56 grid (MGA).
All drill holes were drilled vertically (dip -90, azimuth 000). Collars picked up with DGPS with =/- 10 cm horizontal accuracy.
| Traverse # | Hole # | Easting | Northing | Relative Level (RL) | Total Depth (metres) |
| 1 | 1 | 287839.49 | 7278910.93 | 400.4 | 9 |
| 1 | 2 | 287832.13 | 7278918.08 | 400.5 | 9 |
| 1 | 3 | 287825.60 | 7278925.52 | 400.5 | 9 |
| 1 | 4 | 287819.05 | 7278933.98 | 400.6 | 9 |
| 1 | 5 | 287812.55 | 7278941.55 | 400.3 | 9 |
| 1 | 6 | 287808.00 | 7278947.60 | 399.8 | 9 |
| 1 | 7 | 287804.33 | 7278958.39 | 398.9 | 9 |
| 1 | 8 | 287800.75 | 7278967.68 | 398.9 | 9 |
| 1 | 9 | 287797.62 | 7278973.61 | 399.1 | 10 |
| 1 | 10 | 287793.83 | 7278978.71 | 399.2 | 10 |
| 1 | 11 | 287787.77 | 7278986.45 | 399.4 | 10 |
| 1 | 12 | 287782.89 | 7278993.28 | 399.4 | 10 |
| 2 | 1 | 287769.11 | 7278821.43 | 400.5 | 5 |
| 2 | 2 | 287778.86 | 7278828.57 | 398.9 | 6 |
| 2 | 3 | 287785.34 | 7278822.83 | 398.9 | 6 |
| 2 | 4 | 287791.65 | 7278818.37 | 399.2 | 9 |
| 2 | 5 | 287799.18 | 7278815.14 | 399.1 | 8 |
| 2 | 6 | 287806.98 | 7278811.42 | 399.1 | 8 |
| 2 | 7 | 287814.41 | 7278808.38 | 399.4 | 8 |
| 2 | 8 | 287821.13 | 7278805.53 | 399.6 | 9 |
| 2 | 9 | 287830.57 | 7278802.45 | 399.7 | 9 |
| 3 | 1 | 287803.99 | 7278702.08 | 397.5 | 12 |
| 3 | 2 | 287796.01 | 7278708.04 | 397.4 | 6 |
| 3 | 3 | 287786.29 | 7278717.37 | 397.7 | 6 |
| 3 | 4 | 287778.25 | 7278723.40 | 397.6 | 5 |
| 3 | 5 | 287770.58 | 7278730.19 | 397.6 | 6 |
| 3 | 6 | 287763.87 | 7278735.58 | 397.5 | 5 |
| 3 | 7 | 287756.99 | 7278746.71 | 397.8 | 5 |
| 6 | 1 | 288151.39 | 7278774.18 | 401.0 | 9 |
| 6 | 2 | 288156.59 | 7278779.09 | 402.3 | 9 |
| 6 | 3 | 288161.28 | 7278784.91 | 403.3 | 9 |
| 6 | 4 | 288166.81 | 7278792.89 | 404.4 | 9 |
| 7 | 1 | 288043.97 | 7278856.85 | 398.7 | 6 |
| 7 | 2 | 288048.64 | 7278861.07 | 399.2 | 6 |
| 7 | 3 | 288052.95 | 7278867.05 | 399.8 | 9 |
| 7 | 4 | 288056.62 | 7278873.27 | 400.1 | 9 |
Review of announcement by a 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 8080 8176 |
| Nick Tulloch, Chairman
Andrew Scott, Director |
info@ecrminerals.com |
| Website: www.ecrminerals.com | |
| Allenby Capital Limited | Tel: +44 (0) 3328 5656 |
| Nominated Adviser
Nick Naylor / Alex Brearley / Vivek Bhardwaj |
info@allenbycapital.com
|
| Axis Capital Markets Limited | Tel: +44 (0) 203 026 0320 |
| Broker | |
| Lewis Jones | |
| SI Capital Ltd | Tel: +44 (0) 1483 413500 |
| Broker | |
| Nick Emerson | |
| 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 operating through two wholly owned Australian subsidiaries ECR Minerals (Australia) Pty Ltd (“ECR Australia”) and ECR Minerals (Queensland) Pty Ltd (“ECR Queensland”).
ECR Australia owns the Bailieston and Creswick gold projects in central Victoria, Australia as well as the Tambo gold project in eastern Victoria.
ECR Queensland has two approved exploration permits over the Blue Mountain alluvial gold project in central Queensland, Australia, which it is currently working to bring into production. It also has three approved exploration permits covering 946 km2 over a relatively unexplored area in Lolworth Range in northern Queensland. Furthermore, ECR Queensland has also submitted a licence 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), ECR Australia has the right to receive up to A$2 million in payments subject to future resource estimation or production from these projects.
ECR Australia also has approximately A$75 million of unutilised tax losses incurred during previous operations.
ECR Minerals #ECR – Blue Mountain drilling completed and Drilling to commence at Lolworth
ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, provides an update on activities at the Blue Mountain gold project in Queensland, Australia (the “Blue Mountain Project”) and the Company’s upcoming drilling programme at the Lolworth gold and rare earths project in North Queensland, Australia (the “Lolworth Project”).
HIGHLIGHTS
- Alluvial drilling completed at the Blue Mountain Project, with visible gold confirmed at the Lower Patterson, Windmill and Upper Kariboe Creek prospects.
- Coarse, heavy-textured gold identified for the first time at the Upper Kariboe Creek.
- Trial wash is planned on selected Blue Mountain Project samples to assess potential recovery rates and average grades.
- Drill rig en route to the Lolworth Project, with first holes targeting the Uncle Terry prospect next week.
Blue Mountain Project Drilling Programme
The recently completed alluvial drilling programme at the Blue Mountain Project confirmed visible gold across the Lower Patterson, Windmill and Upper Kariboe Creek prospects. Importantly, coarse and heavy-textured gold was visually identified at the Upper Kariboe Creek, the first time such gold has been seen at the Blue Mountain Project.
Trial wash testing of selected samples from the three prospects is planned to provide valuable data on potential recovery rates and average grades (see Figure 1).
Figure 1: Prospect Map, Blue Mountain Gold Project
Blue Mountain Project
The Blue Mountain Project, located in the historic North Queensland goldfields, hosts extensive alluvial gold workings along the Kariboe Creek and its tributaries, many of which have seen only limited historic testing. ECR has implemented a systematic drilling programme across these channels to evaluate their potential for modern recovery, complemented by on-site trial washing to seek to verify results. With substantial volumes of alluvial gravels and the capability to conduct in-house processing trials, the Board considers that the Blue Mountain Project offers strong near-term production potential together with significant longer-term exploration upside.
Lolworth Project Drilling Programme
The drilling rig is currently en route to the Lolworth Project and will undergo servicing at Charters Towers before being moved onto site, with arrival expected next week.
The first drilling target will be the Uncle Terry prospect, where previous rock chip sampling and mapping confirmed galena, sulphides and high-grade gold assays, including grades of up to 75.6 g/t Au. Drilling will test quartz blow outcrops and shear zones that remain open along strike (see Figures 2 and 3).
Figure 2: Rock Chip Results – Gorge Creek West
Figure 3: Rock Chip Results – Uncle Terry Drill Target Outcrop
Lolworth Project
The Lolworth Project, also in North Queensland, is a large-scale gold and critical minerals exploration project. Previous sampling has confirmed high-grade gold, silver-lead (galena) mineralisation and rare earth element anomalies across multiple targets. The Lolworth Project covers an extensive area of prospective geology that has seen limited modern exploration, despite its strong mineral potential. Drilling at the Uncle Terry prospect will represent the first systematic drill testing at the Lolworth Project and is expected to provide valuable insights into the scale and continuity of mineralisation across the wider project area.
ECR’s Chief Geologist, Adam Jones, commented: “Our Queensland portfolio continues to stand out and deliver exciting results. At the Blue Mountain Project we have confirmed visible gold across several prospects, including coarse and heavy-textured gold at Upper Kariboe Creek, which we consider a significant milestone as we consider how to advance its near-term production potential. With the rig now moving to the Lolworth Project, we are due to drill some of the most prospective ground we have seen to date. Together, these projects are showing great promise and position ECR for an exciting period ahead.”
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 8080 8176 |
| Nick Tulloch, Chairman
Andrew Scott, Director |
info@ecrminerals.com |
| Website: www.ecrminerals.com | |
| Allenby Capital Limited | Tel: +44 (0) 3328 5656 |
| Nominated Adviser
Nick Naylor / Alex Brearley / Vivek Bhardwaj |
info@allenbycapital.com
|
| Axis Capital Markets Limited | Tel: +44 (0) 203 026 0320 |
| Broker | |
| Lewis Jones | |
| SI Capital Ltd | Tel: +44 (0) 1483 413500 |
| Broker | |
| Nick Emerson | |
| Brand Communications | Tel: +44 (0) 7976 431608 |
| Public & Investor Relations | |
| Alan Green |
ECR Minerals #ECR – Blue Mountain Gold Project – Exploration Update
ECR Minerals plc (LON: ECR), the exploration and development company focussed on gold in Australia, provides an update on its ongoing exploration activities at the Blue Mountain gold project in Queensland, Australia (the “Blue Mountain Project”).
HIGHLIGHTS
- Alluvial channel drilling programme now three-quarters complete, targeting the upper reaches of the Denny Gully area over a length of 2.5km.
- Multiple flats intersected containing visible gold, highlighting the potential for significant volumes of gold-bearing gravels.
- First laboratory assays expected by early September 2025, with additional samples from Denny’s Gully in preparation on site.
- Drilling at the Lolworth gold and rare earths project in Queensland, Australia (the “Lolworth Project”) is now scheduled to commence by the last week of August 2025, after which trial washing of Blue Mountain material will continue.
Blue Mountain Project Drilling Programme
Drilling at the Lower Patterson Area, the lowest point of the current drilling programme, has identified visual gold across a flat measuring approximately 205 metres long by 100 metres wide and in places up to three metres deep (see Figure 1). The Board believes that this zone has the potential to host between 35,000 and 40,000 bank cubic metres (“b.c.m”) of gold-bearing gravels. Importantly, this area is connected to a series of upstream flats where drilling has also revealed visual gold over a further 170 metres in length by 17 metres wide, at depths of between one and three metres. The Board believes that this upstream section could potentially contain an additional 6,000 b.c.m of gravels.
Samples from both the Lower Patterson flat and from the upstream flat have been dispatched to the laboratory for assay, with the first results expected later by early September 2025. In parallel, the Company is preparing a further batch of samples from the lower end of Denny’s Gully (see Figure 2), where visual gold has once again been observed within the main alluvial channels. Once received, the laboratory results will assist the team in estimating gold grades across the project area.
Figure 1
Figure 2
As indicated in the Company’s announcement of 4 August 2025, the team are remaining at the Blue Mountain Project for longer than planned in order to ensure that they fully optimise the use of the drill rig to map out areas of interest. With the ongoing success from the drill rig, the move to the Lolworth Project has now been put back by another week. Once drilling at the Lolworth Project has commenced, which is now scheduled for the last week of August 2025, ECR intends to excavate representative material adjacent to the completed drilling at the Blue Mountain Project and run it through the trial wash plant. The purpose of this part of the programme is to test whether drilling results provide a reliable indication of grade by comparing sample data against recovered gold. The outcome of this work will provide important information to guide future exploration in relation to the extent of the tenement. Beyond the current drilling area, ECR also holds tenure covering a further prospective six kilometres of strike downstream along South Kariboe Creek, offering significant exploration upside.
Blue Mountain Project
The Blue Mountain Gold Project is located in Queensland, Australia, within the historic North Queensland goldfields. The Blue Mountain Project is characterised by extensive alluvial gold workings along the Kariboe Creek and its tributaries, many of which were only partially tested by historic operations. ECR has established a systematic drilling programme across these alluvial channels to assess their potential for modern gold recovery, supported by on-site trial washing to calibrate and verify results. With the combination of extensive alluvial gravels and the Company’s capacity to undertake trial processing, the Blue Mountain Project is viewed by the Board as having strong near-term production potential alongside its longer-term exploration upside.
Next Steps
- Receipt of initial laboratory assay results from the Blue Mountain Project.
- Completion of the current alluvial channel drilling programme covering 2.5km of strike.
- Commencement of drilling at the Lolworth Project by end of the last week of August 2025.
- Trial washing of representative Blue Mountain material to confirm drilling results and provide further insight into gold recovery potential.
- Economic evaluation of the Blue Mountain Project.
Nick Tulloch, Chairman of ECR Minerals, commented “We continue to be very encouraged by our findings at the Blue Mountain Project and our decision to use the percussion drill rig for site investigations remains a success. While laboratory assays remain pending, the extent of visual gold already observed in multiple channel flats highlights the potential scale of this system – which even now is only partly explored. By running material through the trial wash plant, we will be able to confirm the relationship between drilling results and actual recoveries and thereafter develop a detailed mining plan for the project. With a further prospective 6km of strike downstream along South Kariboe Creek, the Blue Mountain Project continues to represent one of the most exciting opportunities within our portfolio.”
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 8080 8176 |
| Nick Tulloch, Chairman
Andrew Scott, Director |
info@ecrminerals.com |
| Website: www.ecrminerals.com | |
| Allenby Capital Limited | Tel: +44 (0) 3328 5656 |
| Nominated Adviser
Nick Naylor / Alex Brearley / Vivek Bhardwaj |
info@allenbycapital.com
|
| Axis Capital Markets Limited | Tel: +44 (0) 203 026 0320 |
| Broker | |
| Lewis Jones | |
| SI Capital Ltd | Tel: +44 (0) 1483 413500 |
| Broker | |
| Nick Emerson | |
| 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 ECR Minerals (Australia) Pty Ltd (“ECR Australia”) 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 ECR Minerals (Queensland) Pty Ltd 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.
ECR Australia also has approximately A$75 million of unutilised tax losses incurred during previous operations.
Glossary
| Au: | Gold |
| b.c.m: | bank cubic metres (Metric) |
| g/t: | Grammes per Tonne (Metric) |
| km: | Kilometres (Metric) |
| km²: | Kilometre squared (Metric) |
| M: | Metres (Metric) |
| Sq: | Square (Metric) |