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ECR Minerals plc #ECR – Property purchase within the Bailieston License Area

ECR Minerals plc (LON: ECR), the gold exploration and development company focused on Australia, is pleased to announce that its 100% owned Australian subsidiary, Mercator Gold Holdings Pty Ltd (“MGH”), has purchased a property at 127 Nagambie-Rushworth Road, subject only to payment of the completion monies. The property is located within the Company’s 100% owned Bailieston license area (“Bailieston”).

It is anticipated that monies will be paid, and completion will occur, on or around 8 October 2021 and further updates will be provided at that time.

Highlights:

  • The property is adjacent to the Company’s Cherry Tree Project, located within the Bailieston license area in Victoria, Australia.
  • Bailieston neighbours Kirkland Lake Gold’s multi-million-ounce Fosterville gold mine. Newmont Mining have also submitted an application for an exploration license immediately to the north of the Black Cat property within the Bailieston license area.
  • The property consists of 297 acres of land (no buildings at this time), within the 24 square kilometre Bailieston license area, with ample exploration opportunity and the future potential for the construction of a mine decline, processing plant and tailings dam.
  • The purchase price of the property is A$750,000, which will be settled in two tranches consisting of a A$75,000 deposit, which has already been paid, and the remaining balance which is to be paid 30 days from the date of sale. The purchase will be funded by the Company’s existing cash resources. As at the close of business on 9 September 2021 the Group had £3,874.779.94 (USD equivalent $5,362,695.44) in the bank after paying the A$75,000 deposit.

Craig Brown, Chief Executive Officer commented: “Following the recent highly encouraging early results from the maiden drilling programmes at the Bailieston HR3 and HR4 (Cherry Tree Project), on behalf of the board, I am delighted to announce the purchase of a considerable land package located in close proximity to Cherry Tree. Based on the gold mineralisation, geological findings and data acquired from the Bailieston drilling campaigns to date, our board have taken the decision to proceed with ECR’s second land package acquisition.

“The size and scale of this land package ensures that, equipped with our own drilling rigs we can now ramp up our drilling and exploration activities across the territory, and when appropriate can develop our own mine decline, processing plant and tailings dam.”

“This is an exciting period of evolution for ECR as a company as we grow our presence across the Victoria Goldfields. I look forward to reporting the next developments.”

The property was purchased from a private individual.

MARKET ABUSE REGULATIONS (EU) No. 596/2014

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

 

FOR FURTHER INFORMATION, PLEASE CONTACT:

ECR Minerals plc

Tel: +44 (0) 20 7929 1010

David Tang, Non-Executive Chairman

Craig Brown, Director & CEO

Email:

info@ecrminerals.com

Website: www.ecrminerals.com

WH Ireland Ltd

Tel: +44 (0) 161 832 2174

Nominated Adviser

SI Capital Ltd

Tel: +44 (0) 1483 413500

Broker

Nick Emerson

Novum Securities Limited

Tel: +44 (0) 20 7399 9425

Broker

Jon Belliss

Blytheweigh

Tel: +44 (0) 207 138 3204

Public Relations

Tim Blythe

ECR Minerals #ECR – Property purchase within the Creswick License Area

ECR Minerals plc (LON: ECR), the gold exploration and development company focused on Australia, is pleased to announce that its 100% owned Australian subsidiary, Mercator Gold Holdings Pty Ltd (“MGA”), has purchased a property at 35 Brewing Lane, Springmount. The property is located within the Company’s existing 100% owned Creswick license area.

Highlights:

  • The property consists of 16 acres, within the 45 square kilometre Creswick license area in Victoria, Australia
    • The property is held over three titles
  • The property will provide a base for activities across the license area as ECR advances its drilling programmes and, when appropriate will be the site for development for the mine decline
  • The purchase price of the property is US$500,000, which is settled in two tranches, consisting of a US$50,000 deposit which has already been paid, with the balance to be paid on 27 September. The purchase will be funded by the Company’s existing cash resources. Currently the Group has £4,222,940 in cash after paying the deposit.  This is the equivalent of USD 5,824,631.

Craig Brown, Chief Executive Officer commented: “Following the positive progress of the drilling programme at Creswick, we are pleased to announce the purchase of the Brewing Lane property which sits in our existing license area. The property will provide the Company with an operational base and, in future, can be developed as a site for the decline access to existing, and potential, vein mineralisation.

“Earlier this year, we reported strong results from the [ongoing/current] drilling programme at the Creswick license which has continued to delineate gold mineralisation along strike, with all assayed holes returning gold. Of particular significance are holes CSD003 and CSD004 which returned 9.93 g/t and 23.58 g/t gold, respectively.”

“I remain enthused by the pace of developments at Creswick, Bailieston and our other assets, and look forward to receiving the remaining assay results at Creswick and reporting on progress.”

The property was purchased from a private individual.

MARKET ABUSE REGULATIONS (EU) No. 596/2014

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

FOR FURTHER INFORMATION, PLEASE CONTACT:

 

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

info@ecrminerals.com

Website: www.ecrminerals.com
WH Ireland Ltd Tel: +44 (0) 161 832 2174
Nominated Adviser
SI Capital Ltd Tel: +44 (0) 1483 413500
Broker
Nick Emerson
Novum Securities Limited  Tel: +44 (0) 20 7399 9425
Broker

Jon Belliss

Blytheweigh Tel: +44 (0) 207 138 3204
Public Relations
Tim Blythe

 

 

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 and Creswick 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 has earned a 25% 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.

ECR Minerals #ECR CEO Craig Brown talks to Steve Darling at Proactive Investors

ECR Minerals #ECR CEO Craig Brown talks to Steve Darling at Proactive Investors. Craig provides an update on its current aggressive drill programs in Victoria, Australia at its flagship Bailieston and Creswick projects.

Craig also discusses the objectives of the drill campaigns and the arrival of a third multi-purpose rig which is due on site shortly. Brown also discusses recent developments in the Philippines as well as funding and offers up his thoughts on the gold price and what it means for the company’s projects.

ECR Minerals #ECR – Initial Results From The First Ever Drilling Campaign at Cherry Tree (HR4) Identify Anticlinal Hinge Anomaly

ECR Minerals plc (LON: ECR), the gold exploration and development company focussed on gold exploration in Australia, is pleased to announce initial results from its first drilling campaign at Cherry Tree (“Historic reserve number 4”, “HR4”, “Cherry Tree”) at the Bailieston Project in central Victoria, Australia.

ECR Minerals plc has 100% ownership of Bailieston Project which is operated under its Australian owned subsidiary Mercator Gold Australia Pty Ltd (“MGA”).

Craig Brown, Chief Executive Officer of ECR Minerals plc, commented:

“Following the purchase of our second drilling rig, ECR’s strong funding position and growing local infrastructure ensures the Company can continue to maintain a series of aggressive drilling campaigns across the Victoria Goldfields. We have also made a small bit of history; ECR’s Australian subsidiary MGA completed the first ever diamond drillhole at Cherry Tree (HR4) and I am delighted to report a highly significant early result there from hole BCTDD003, both in terms of the geological setting and the gold mineralisation identified.”

“As the data continues to arrive, our senior geologists are working hard to ascertain structural geological interpretations. It is widely accepted that culminations in folded strata cut by shears and faults are favoured locations for deposition of thrust-reef style lode gold deposits, and with the cross-striking faults at this anticline filled with quartz-gold-bearing fluids in Holes BCTDD001, BCTDD002 and BCTDD003, there is encouraging early evidence. We are keen to see what the next raft of data will reveal so we can determine our next exploration steps.”

HIGHLIGHTS:

  • Hole BCTDD001, the first ever diamond drilling work undertaken at HR4 has delineated an anticlinal hinge striking through the centre of the goldfield.
  • Holes BCTDD002 and BCTDD003 were drilled to define cross striking faults. Drilling continues using orientated diamond drill-core for structural geological interpretation
  • Hole BCTDD003 shows broad zones of low-grade gold mineralisation, often associated with anomalously high Arsenic (pXRF readings). The best intercept includes 0.5m @ 11.02 g/t Au from 98.85m depth.

PROGRESS AT CHERRY TREE

Hole BCTDD001, the first ever diamond drillhole completed at HR4 has delineated an anticlinal hinge striking through the centre of the goldfield. This anticline forms the geological backbone of mineralisation at Cherry Tree where cross-striking faults to this anticline have filled with quartz-gold-bearing fluids. Holes BCTDD002 and BCTDD003 were drilled to define such cross striking faults.

MGA continues to drill orientated diamond core to gain structural geological information, and recently drilled holes BCTDD004 and BCTDD005 were designed to test the interpreted position of multiple cross-striking faults. Geological logging of BCTDD004 and BCTDD005 is currently in progress.

Hole BCTDD003 shows broad zones of low-grade mineralisation, often associated with high Arsenic (pXRF readings). The best intercept includes 0.5m @ 11.02 g/t Au from 98.85m depth.

DETAILS OF ALL INTERCEPTS CONTAINING REPORTABLE LEVELS OF GOLD GREATER THAN 0.1 G/T – HOLES BCTDD001-003

BCTDD001
From

(m)

To

(m)

Grade Au g/t Interval

(m)

BCTDD001 No significant intercepts 0.1 g/t Au
Results greater than 0.1 g/t Au
From

(m)

To

(m)

Grade Au g/t Interval

(m)

BCTDD002 65.6 66.1 1.08 0.5 Associated with high Arsenic pXRF
BCTDD002 87 88 1.14 1 Associated with high Arsenic pXRF
BCTDD002
Other broad mineralised zones results noted
From

(m)

To

(m)

Grade Au g/t Interval

(m)

BCTDD002 68.3 69.3 0.11 1 Broad LG zone associated with
BCTDD002 69.3 70.3 0.22 1 higher arsenic. 4m @ 0.19 g/t Au
BCTDD002 70.3 71.3 0.2 1
BCTDD002 71.3 72.3 0.24 1
BCTDD003
Results greater than 0.1 g/t Au
From

(m)

To

(m)

Grade Au g/t Interval

(m)

BCTDD003 74.9 75.5 1.11 0.6 0.6m @ 1.11 g/t Au
BCTDD003 79.7 80 1.01 0.3 0.3m @ 1.01 g/t Au
BCTDD003 98.85 99.35 11.02 0.5 0.5m @ 11.02 g/t Au

 

REVIEW OF ANNOUNCEMENT BY QUALIFIED PERSON

This announcement has been reviewed by Adam Jones, a director of 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.

MARKET ABUSE REGULATIONS (EU) No. 596/2014

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

OR FURTHER INFORMATION, PLEASE CONTACT:

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

info@ecrminerals.com

Website: www.ecrminerals.com
WH Ireland Ltd Tel: +44 (0)161 832 2174
Nominated Adviser
SI Capital Ltd Tel: +44 (0)1483 413500
Broker

Nick Emerson

 

Novum Securities Limited  

Broker

Jon Belliss

                                            Tel: +44 (0)20 7399 9425

 

Brand Communications

Public Relations                                                                 Tel: +44 (0) 7976 431608

Alan Green

 

NOTES AND FULL INTERCEPT SUMMARY

 

BCTDD001
From

(m)

To

(m)

Grade Au g/t Interval

(m)

BCTDD001 No significant intercepts 0.1 g/t Au
Results greater than 0.1 g/t Au
From

(m)

To

(m)

Grade Au g/t Interval

(m)

BCTDD002 65.6 66.1 1.08 0.5 Associated with high Arsenic pXRF
BCTDD002 87 88 1.14 1 Associated with high Arsenic pXRF
BCTDD002
Other broad mineralised zones results noted
From

(m)

To

(m)

Grade Au g/t Interval

(m)

BCTDD002 68.3 69.3 0.11 1 Broad LG zone associated with
BCTDD002 69.3 70.3 0.22 1 higher arsenic. 4m @ 0.19 g/t Au
BCTDD002 70.3 71.3 0.2 1
BCTDD002 71.3 72.3 0.24 1
BCTDD003
Results greater than 0.1 g/t Au
From

(m)

To

(m)

Grade Au g/t Interval

(m)

BCTDD003 74.9 75.5 1.11 0.6 0.6m @ 1.11 g/t Au
BCTDD003 79.7 80 1.01 0.3 0.3m @ 1.01 g/t Au
BCTDD003 98.85 99.35 11.02 0.5 0.5m @ 11.02 g/t Au
Other broad mineralised zones results noted
From

(m)

To

(m)

Grade Au g/t Interval

(m)

BCTDD003 28 29 0.24 1 1.3m @ 0.24 g/t Au
BCTDD003 29 29.3 0.23 0.3
BCTDD003 31 32 0.22 1 LG zone 20.3m @ 0.35 g/t
BCTDD003 32 32.7 0.23 0.7
BCTDD003 32.7 33.2 0.9 0.5
BCTDD003 33.2 34.2 0.94 1
BCTDD003 34.2 35.1 0.16 0.9
BCTDD003 35.1 36.1 0.1 1
BCTDD003 36.1 36.5 0.48 0.4
BCTDD003 36.5 37.5 0.53 1
BCTDD003 37.5 38.5 0.34 1
BCTDD003 38.5 39 0.36 0.5
BCTDD003 39 40 0.6 1
BCTDD003 40 41 0.55 1
BCTDD003 41 42 1.13 1
BCTDD003 42 42.5 0.17 0.5
BCTDD003 42.5 43.5 0.14 1
BCTDD003 43.6 44.5 0.13 0.9
BCTDD003 44.5 45.1 0.29 0.6
BCTDD003 45.1 46.1 0.11 1
BCTDD003 46.1 47.1 0.21 1
BCTDD003 47.1 48.1 0.14 1
BCTDD003 48.1 49.1 0.16 1
BCTDD003 49.1 50.1 0.21 1
BCTDD003 50.1 51.4 0.11 1.3
BCTDD003 54.1 55.1 0.37 1 LG zone 17m @ 0.21 g/t Au
BCTDD003 55.1 56.1 0.23 1
BCTDD003 56.1 57.1 0.1 1
BCTDD003 57.1 58.1 0.1 1
BCTDD003 58.6 59.6 0.28 1
BCTDD003 59.6 59.9 0.48 0.3
BCTDD003 59.9 60.4 0.5 0.5
BCTDD003 60.4 60.9 0.16 0.5
BCTDD003 60.9 61.4 0.41 0.5
BCTDD003 61.4 62 0.74 0.6
BCTDD003 62 62.5 0.14 0.5
BCTDD003 62.5 63.2 0.33 0.7
BCTDD003 63.2 63.8 0.15 0.6
BCTDD003 63.8 64.5 0.13 0.7
BCTDD003 64.5 65.3 0.1 0.8
BCTDD003 65.3 66.1 0.12 0.8
BCTDD003 66.1 66.7 0.13 0.6
BCTDD003 66.7 67.4 0.13 0.7
BCTDD003 67.4 68.4 0.15 1
BCTDD003 68.4 69 0.16 0.6
BCTDD003 69 70 0.1 1
BCTDD003 70 70.6 0.11 0.6
BCTDD003 70.6 71.6 0.15 1
BCTDD003 89.6 89.8 0.82 0.2 11m @ 1.14 g/t Au
BCTDD003 89.8 90.05 1.4 0.25 (incl 0.5m @ 11.02 g/t Au from 98.85m)
BCTDD003 90.05 90.9 0.54 0.85
BCTDD003 90.9 91.9 0.31 1
BCTDD003 91.9 92.4 1.17 0.5
BCTDD003 92.4 93.4 0.1 1
BCTDD003 93.4 94.4 0.1 1
BCTDD003 94.4 94.9 1.65 0.5
BCTDD003 94.9 95.4 0.48 0.5
BCTDD003 95.4 96.4 0.34 1
BCTDD003 96.4 96.9 0.26 0.5
BCTDD003 96.9 97.8 0.15 0.9
BCTDD003 97.8 98.4 0.1 0.6
BCTDD003 98.4 98.85 0.12 0.45
BCTDD003 98.85 99.35 11.02 0.5
BCTDD003 99.35 100 0.27 0.65
BCTDD003 100 100.6 0.15 0.6

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 and Creswick 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 has earned a 25% 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.

Statement from Minerals Council Australia – More mining exploration good news for Victoria’s regions and jobs

Statement from James Sorahan, Executive Director MCA Victoria

Victoria’s strong upward trajectory in minerals exploration and production has been confirmed by the latest Victorian Resource Indicators Report, highlighting the drive by the state’s mines and minerals explorers to support more local jobs and small businesses.

The report notes new minerals exploration spending of $135.8 million in 2019-20 and metres drilled increased to 388,662 in 2019-20.

In the March 2021 quarter, ABS data shows a record $51.5 million was spent on minerals exploration in Victoria.

(pictured ECR Minerals #ECR CEO Craig Brown with MCA Director James Sorahan at Minerals Week 2021)

Victoria produced 792,267 ounces of gold in 2019-20, including from Australia’s third largest and highest-grade gold mine in 2020 at Kirkland Lake’s Fosterville Mine near Bendigo.

The report notes that in 2019 the industry added 23,500 full time indirect jobs across all sectors of the economy and 49 per cent of Victoria’s resources jobs are in rural and regional areas.

While mining has been important in Victoria’s past, modern mining is a critical growth industry with the potential to build more diverse regional economies and create the highly paid, highly skilled full time jobs needed to sustain regional Victorian economies and communities.

A recent MCA Victoria survey of local mines and exploration companies in Central Victoria found that the region’s mines and exploration companies employ almost 1,000 locals directly, paying $115 million in wages and spending $48 million in the last year with 590 local businesses – more than half their total Australian supplier spend.

Victoria’s growing gold mining sector and exploration spending in base metals and mineral sands is employing workers in other regions including Ballarat, Stawell and East Gippsland.

The report identifies that Victoria has 16 major projects in the pipeline with a value range of $3.1 to $6.6 billion.

Exploration and investment in minerals projects is creating a pipeline of new projects in gold, base metals, mineral sands, rare earths and potentially lithium to supply inputs for modern technology in an environmentally sustainable way.

Victoria’s mining industry helps secure the state as a hub for mining equipment, technology and services and Melbourne’s role as a global mining capital.

Victoria has a bright future and an industry committed to supporting more diverse regional economies and local jobs.

ECR Minerals #ECR – Cordillera Tiger Gold Resources Renews Exploration License EP-006 at Danglay Gold Project, N Philippines

ECR Minerals plc (LON: ECR), the gold exploration and development company focused on Australia, is pleased to announce that Cordillera Tiger Gold Resources, Inc. (“Cordillera Tiger”), in which ECR is entitled to a 25% interest, has successfully renewed Exploration License EP-006 at the Danglay gold project, which is located in a prolific gold and copper mining district in the north of the Philippines.

As reported in the Annual Report on March 23rd 2021 ECR is entitled to a 25% interest in the Danglay gold project in the Philippines, which is held by a Philippine corporation called Cordillera Tiger Gold Resources, Inc. (“Cordillera Tiger”) under an Exploration Permit. The issuance of a 25% shareholding in Cordillera Tiger to the Company has been delayed since 2016, largely due to a court case filed by an individual who is a minority shareholder and former director of Cordillera Tiger. However, Jerry Marave, President of Cordillera Tiger has written to ECR indicating his continued support for the earn-in interest and consequential shareholding given that the conditions for the earn-in have been satisfied.

The Company also notes that former ECR consultant and CEO Stephen Clayson, who resigned from ECR Minerals on July 16th 2021, has in addition resigned as director of Cordillera Tiger.

The Directors believe the political climate for the minerals industry in the Philippines is improving, and consider that the Danglay gold project, which is located in a prolific gold and copper mining district in the north of the country, has potential for further exploration to build upon the existing inferred mineral resource estimate of 63,500 ounces of gold at 1.55 g/t gold. This resource was reported by ECR in 2015 to the Canadian NI43-101 standard, based on exploration carried out at Danglay by ECR during 2014 and 2015. In addition to the resource, an NI43-101 target for further exploration (conceptual potential quantity and grade of mineralisation expressed as ranges) of 95,000 to 170,000 ounces of gold at 5 to 7.5 g/t was reported.

Craig Brown, Chief Executive Officer commented: “I am pleased to report that not only has license EP-006 has been renewed by Cordillera Tiger, but also, following Stephen Clayson’s resignation as director of Cordillera Tiger, President Jerry Marave has indicated his firm and continued support for ECR’s involvement and retained 25% interest. ”

“Although ECR’s priority and focus is on developing our Australian assets, this is nonetheless a significant development given ECR has already £1.2 million into the project. In particular the Board have noted that the political climate for the minerals industry in the Philippines is improving, and as such I hope to report further positive progress on the Danglay gold project to you in the coming months.”

MARKET ABUSE REGULATION (EU) No. 596/2014

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (MAR) as in force in the United Kingdom pursuant to the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via Regulatory Information Service (RIS), this inside information is now considered to be in the public domain.

OR FURTHER INFORMATION, PLEASE CONTACT:

 

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

info@ecrminerals.com

Website: www.ecrminerals.com
WH Ireland Ltd Tel: +44 (0)161 832 2174
Nominated Adviser
SI Capital Ltd Tel: +44 (0)1483 413500
Broker

Nick Emerson

 

Novum Securities Limited  

Broker

Jon Belliss

                                            Tel: +44 (0)20 7399 9425

 

Brand Communications

Public Relations                                                                  Tel: +44 (0) 7976 431608

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 eight licence applications outstanding including two licence applications lodged in eastern Victoria. (Tambo gold project). MGA is currently drilling at both the Bailieston and Creswick projects and has an experienced exploration team with significant local knowledge in the Victoria Goldfields and wider region.

 

Home

 

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 Queesnland, Australia.

 

Home

 

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 has earned a 25% 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.

ECR Minerals #ECR – Purchase of Second, Multi-Purpose Drilling Rig for Central Victorian Goldfields, Australia

ECR Minerals plc (LON: ECR), the gold exploration and development company focused on Australia, is pleased to announce the purchase of a second drilling rig by ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd (“MGA”).

MGA has recently signed a contract for the purchase of a new Cortech CMR1000 multi-purpose drilling rig for a total of US$402,957. This follows the purchase of the Midas Drilling Rig (“Midas”) currently engaged in an aggressive drilling programme at the Bailieston project. The new rig is a high capacity, heavy duty multi-purpose drill rig which is highly effective in diamond coring, reverse circulation and rotary drilling techniques. It has been purchased complete with spares and all downhole equipment and is capable of drilling as deep as 2,000 metres*. The rig will be delivered in Q4 2021 and will further boost MGA’s in-house drilling capability.

With access to a growing team of experienced drilling personnel to operate the rig, along with Midas, the addition of the new CMR1000 rig increases MGA’s flexibility in the field and is expected to accelerate future drilling schedules and enable drill programmes to be completed at lower cost.

Craig Brown, Chief Executive Officer commented: “I am delighted to announce the acquisition of our second drill rig. Midas has already proved its value in the field, as it has been constantly working at Bailieston since our campaign launch at the Byron prospect announced on January 12th 2021.

The strong cash position enjoyed by ECR Minerals has enabled us to maintain aggressive drilling programmes across our existing properties, and the acquisition of the new, multi-purpose rig significantly enhances our on-the-ground capabilities.

The RC and diamond drilling capability the new CMR rig provides us with is particularly suited to the license areas at our three Queensland projects announced in May 2021. Given the recent results from the Creswick project announced on July 19th 2021, we are confident that the strategy of fast-paced and aggressive drilling programmes across multiple high-profile gold targets will expose ECR to potential new gold discoveries.”

*Factory data sheet specification http://cortech.cn/product_show.asp?id=2&lan=en

MARKET ABUSE REGULATIONS (EU) No. 596/2014

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

OR FURTHER INFORMATION, PLEASE CONTACT:

 

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

info@ecrminerals.com

Website: www.ecrminerals.com
WH Ireland Ltd Tel: +44 (0)161 832 2174
Nominated Adviser
SI Capital Ltd Tel: +44 (0)1483 413500
Broker

Nick Emerson

 

Novum Securities Limited  

Broker

Jon Belliss

                                            Tel: +44 (0)20 7399 9425

 

Brand Communications

Public Relations                                                                  Tel: +44 (0) 7976 431608

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 eight licence applications outstanding including two licence applications lodged in eastern Victoria. (Tambo gold project). MGA is currently drilling at both the Bailieston and Creswick projects and has an experienced exploration team with significant local knowledge in the Victoria Goldfields and wider region.

 

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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 Queesnland, Australia.

 

Home

 

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 has earned a 25% 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.

ECR Minerals #ECR Geologist Adam Jones sees huge potential at Creswick as aggressive drill program advances

ECR Minerals PLC’s #ECR geologist Adam Jones speaks to Proactive soon after the explorer announced drilling at its Creswick project in the Victoria Goldfields, Australia has identified more gold mineralisation along the strike zone in a southerly direction from the first drill hole.

To date, seven holes have been completed, with four holes fully assayed and all hitting multiple and significant zones of quartz and all intercepting gold, with the best results so far from CSD003 where there were no historic workings.

ECR Minerals #ECR – Ongoing Drilling Success at Creswick Gold Project Provides a Deeper Understanding of Dimocks Main Shale Prospectivity

ECR Minerals plc (LON: ECR), the gold exploration and development company focused on Australia, is pleased to announce a drilling update from the Creswick Gold project (the “Project”), in the Victoria Goldfields, Australia. The Project is 100%-owned by ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd (“MGA”).

HIGHLIGHTS

  • Diamond drilling along the Dimock Main Shales (DMS) trend has continued to delineate gold mineralisation along the strike zone in a southerly direction from the first drill hole at CSD001. This is outlined in detail under ‘Technical Information’ and at Figure 1 and Figure 2 below.
  • To date six holes have been completed, four holes have been fully assayed, with final gold assays now received for holes (CSD001, CSD002, CSD003 and CSD004).
  • Drill holes have tested near the centre and near the southern end of the tenement to gain a full overview of the prospectivity of the trend across the whole tenement. The drilling in the centre of the tenement (CSD003 & CSD004) tested a portion of the system with no historic mining.
  • All holes drilled to date have hit multiple and significant zones of quartz and all holes with assays returned have intercepted gold, with the best results from CSD003 drilled where there were no historic workings.
  • Assay results received include; 1m @ 4.78 g/t Au from hole (CSD002) and 0.95m @ 9.93 g/t and 0.95m @ 23.58 g/t Au both respectively from (CSD003).
  • Diamond drilling has just been completed for holes CJD001 and CSD005, confirming structures hosting quartz, parallel to and within the Dimocks Main Shales, are persistent along strike to the south of CSD001 and CSD002. Assays results will be provided following receipt and interpretation.

Craig Brown, Chief Executive Officer, commented:

“I am pleased to report continued positive progress for the Creswick drill programme. The aggressive drilling campaign undertaken by our contractors at Creswick continues apace, and the consequential raft of core data and intelligence processed by the core shed in Bendigo is now providing our geological team with a much deeper understanding of the prospectivity of the trend across our license areas.

I am also pleased to report that assay results from hole CSD001, the first drill hole of the campaign, show we have intersected gold, a factor that is particularly significant considering that CSD001 is the first diamond hole into the DMS in the entire tenement. 

We are delighted with Holes CSD003 and CSD004, which have provided our best gold intersections yet on this 2021 diamond drilling programme of 9.93g/t and 23.58g/t gold. The work undertaken in the current campaign has enabled us to locate and confirm the position of the DMS, and increase our understanding of the types of folding and faulting within the system to assist with ongoing drill targeting.

To date 6 drill holes have been completed successfully and safely at the Project, with 4 holes now assayed and all containing gold. 

Overall, the assay results to date have delivered the outcome we were all hoping for, and I would like to put on record my thanks to Adam Jones, Dr. Rod Boucher and the drilling and core shed teams for their hard work that has delivered a considerable amount of data and information in a very short space of time. I look forward to reporting to the market with regard to further assay results, and their geological significance following analysis.”

TECHNICAL INFORMATION

Note: Quartz develops in the thicker shales, particularly where intercepted by east-dipping faults.  As previously hypothesised by the company, the geology is complex and some work is needed to fully understand the faulting and folding.

Preliminary interpretations of the latest three holes are provided below.

All quartz zones show variable sericite-carbonate-chlorite alteration but are low in sulphides.

CSD002

Following on from the success of CSD001, hole CSD002 was drilled from the same site, but at a steeper dip to CSD001. CSD002 was collared 10m to the west of CSD001 and drilled to test projected parasitic folding and an interpreted low angle fault hosting gold mineralisation as seen at 131.9m in CSD001. CSD002 drilled through the projected fault with associated significant quartz mineralisation at a depth of 108.5m. Assay results show this section of quartz to contain no significant gold mineralisation despite visual similarities to the gold-bearing quartz in the first hole. Drilling passed through further quartz and pyrite at a depth of 173.2m. Gold is present within this structure, with assays returning 1m @ 4.78 g/t Au from 173.1m. CSD002 was drilled to a final length of 215.2m.

Geological correlation between CSD001 and CSD002 shows gold mineralisation to have some spatial interplay between sub-vertical quartz veining and the offset of the low angle fault. The faulting and folding in the holes is complex and work is ongoing to fully map these out and better define targets.

Figure 1 showing the preliminary geological interpretation between CSD001 and CSD002:

https://mercatorgold.com.au/images/fig1_CSD002_210713c.jpg 

CSD003 and CSD004

CSD003 and CSD004 were drilled 900m on strike to the south from CSD001 and CSD002. This drill location has no known historical gold workings nearby, the closest workings being over 200m to the north.

CSD003 was collared in at a dip of -65 and drilled towards the east. The drillhole passed through multiple parasitic folds on a larger west dipping fold similar as noted in CSD001 and CSD002. Bedding parallel quartz with associated carbonate bleaching was passed through at a depth of 83.2m. A second, parallel zone of quartz was passed through at 89.05m depth. These two quartz intersections returned 0.95m @ 9.93 g/t Au from 84.2m and 0.95m @ 23.58 g/t Au from 89.05m. Drilling continued to a depth of 191.9m. These intersections represent the true width of the gold quartz veins.

CSD004 was collared as a scissor hole to CSD003 to test for the westward continuation of the main structural zone and to drill beneath veins outcropping down the adjacent hillslope. Structures hosting quartz mineralisation were drilled through at 114m and at 124.7m depth. Veining was found to have widths of up to 1 metre and consisted of chlorite and carbonate bleaching. Only one assay returned anomalous gold; 1m @ 0.18 g/t Au from 125.7m. CSD004 ended at 207.1m

With the success of CSD003, there are plans for additional drillholes to follow the continuity of the high gold mineralisation.

Figure 2 showing geological interpretation section through CSD003 and CSD004:https://mercatorgold.com.au/images/fig2_CSD003_004_210714.jpg

 

Table 1 Intercepts from holes CSD002, CSD003 and CSD004

HOLE ID EASTING       (GDA Zone 54) NORTHING (GDA Zone 54) Dip AZIMUTH (True North) TOTAL DEPTH (metres) AVERAGE GRADES OF MINERALISATION*
CSD002 759261 5854636 -65 101 215.2 -1m @ 4.78 g/t Au from 173.1m

-0.6m @ 0.22 g/t Au from 65.9m

-0.35m @ 0.39 g/t Au from 179.85m

CSD003 759244 5853704 -65 096 191.9 -0.95m @ 23.58 g/t Au from 89.05m

-0.95m @ 9.93 g/t from 84.2m

 

CSD004 759253 5853702 -67 281 207.1 1m @ 0.18 g/t Au from 125.7m

*no other intercepts returned significant levels of gold.

FURTHER INFORMATION 

A total of 6 drillholes have been completed to date on the Creswick gold project. Out of these, assays have been returned from 4 of the holes and each of these contain gold, including the scissor hole (CSD004) that was drilled in the opposing direction away from the main structural zone to test peripheral structures. In particular two of these show high-grades (CSD001 CSD003). Current drilling activity is focussing on assessing the strike extent of quartz mineralisation associated with a series of shallow historical gold workings along the Dimocks Main Shale trend between sites CSD001-CSD002 and CSD003-004. There is a strike length of 900m between these two initial drill sites that has not been drilled before. The Directors believe Mercator Gold Australia (MGA) is the first company in history to undertake such mineral exploration in this region to such a high level, and plans are underway to cover the shallow, up-dip extensions of drilled quartz reefs by soil geochemistry.

 

Results are pending for recently drilled CJD001, which is our most southerly drilled hole along strike to date (2km south of CSD001-CSD002). Significant quartz veining has been intersected within this hole.

Visual evidence of the limited extent of hard-rock gold workings and the mapped extent of eroded alluvial gold workings leading up to the Dimocks Main Shale area provide a practical demonstration to show the potential strike length of this gold system (see announcement 25/9/18). Furthermore, (as announced on 23/03/21), MGA has applied for additional licenses EL006713 and EL006907 on the southern extension of this vein system to the south.

REVIEW OF ANNOUNCEMENT BY QUALIFIED PERSON 

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

MARKET ABUSE REGULATIONS (EU) No. 596/2014

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

FOR FURTHER INFORMATION, PLEASE CONTACT:

 

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

info@ecrminerals.com

Website: www.ecrminerals.com
WH Ireland Ltd Tel: +44 (0)161 832 2174
Nominated Adviser
SI Capital Ltd Tel: +44 (0)1483 413500
Broker

Nick Emerson

 

Novum Securities Limited

Broker

Jon Belliss

                                              Tel: +44 (0)20 7399 9425

 

Brand Communications

Public Relations                                                                               Tel: +44 (0) 7976 431608

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 eight licence applications outstanding including two licence applications lodged in eastern Victoria. (Tambo gold project). MGA is currently drilling at both the Bailieston and Creswick projects and has an experienced exploration team with significant local knowledge in the Victoria Goldfields and wider region.

 

Home

 

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 Queesnland, Australia.

 

Home

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 has earned a 25% 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 resources. 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.

 

 

ECR Minerals #ECR – Resignation of Consultant Stephen Clayson

ECR Minerals plc (LON: ECR), the gold exploration and development company focused on Australia, announces that Stephen Clayson, long standing consultant and former ECR CEO and Director until August 2016, has resigned with immediate effect.

Stephen Clayson was instrumental in developing and progressing ECR’s interest in the Danglay gold project; with a 43-101 compliant gold resource located in a prolific gold and copper mining district in the north of the Philippines.

Craig Brown, Chief Executive Officer, commented:

“Stephen and I worked together for many years, and prior to me joining ECR he was instrumental in developing the Danglay Gold project, earning ECR’s 25% interest.”

“On behalf of the board, we thank him for the services he has provided to the company and we wish him well for the future”

FOR FURTHER INFORMATION, PLEASE CONTACT:

 

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

info@ecrminerals.com

Website: www.ecrminerals.com
WH Ireland Ltd Tel: +44 (0)161 832 2174
Nominated Adviser
SI Capital Ltd Tel: +44 (0)1483 413500
Broker

Nick Emerson

 

Novum Securities Limited  

Broker

Jon Belliss

                                       Tel: +44 (0)20 7399 9425

 

Brand Communications

Public Relations                                                            Tel: +44 (0) 7976 431608

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 eight licence applications outstanding including two licence applications lodged in eastern Victoria. (Tambo gold project). MGA is currently drilling at both the Bailieston and Creswick projects and has an experienced exploration team with significant local knowledge in the Victoria Goldfields and wider region.

 

Home

 

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 Queesnland, Australia.

 

Home

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 at any of those projects.

ECR has earned a 25% 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 and holds a royalty on the SLM gold project in La Rioja Province, Argentina.

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