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ECR Minerals #ECR – Further Gold Results from Creswick Soil Sampling Campaign
ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce the completed soil sampling results from the prospects known as Mills Reef and Kuboid Hill which are within the Creswick Project, Victoria, Australia.
ECR Minerals plc has 100% ownership of the Creswick Project which includes exploration tenements EL006907, EL006713 and EL006184. All licences reside north to north-east of the City of Ballarat, Victoria, Australia. The Company is exploring a number of parallel-gold mineralisation trends that are believed to extend 10km NE from the Nerrina Goldfields at Ballarat.
ECR CEO Andrew Haythorpe commented: “I am pleased to report further positive results from our Creswick sampling campaign, with multiple gold anomalies now very evident across our Creswick tenement package. The drilling campaign at Creswick will soon be complete, and the Board are keen to see the assay results from the campaign, and also how those results correlate with the soil sampling data.”
“Operationally, we now shift our focus to our Queensland assets. With access to Lolworth, Hurricane and Blue Mountain projects now at an optimum, the time is right to focus our resources there until the wet season recommences in December. Your Board are excited by the range of opportunities and possibilities presented by our Queensland assets, and I look forward to reporting on progress there as soon as possible.”
HIGHLIGHTS
- Complete Results from soils surrounding the Mills Reef Prospect have now been received. Highest result being 3.53 ppm Au (3530 ppb).
- Complete Gold Results have also been received for the prospect known as Kuboid Hill within EL006173. Best result being 2.53 ppm Au (2530 ppb).
- Additional pXRF analysis of soils from the Quartz Hill prospect has also been completed. Arsenic values as a pathfinder have outlined several possible gold shoots. Selected samples are currently being analysed for Gold values at the laboratory.
Plans showing the latest Gold and Arsenic results from soil sampling can be found here:
Figure 1: Overview map of prospects referred to in this announcement:
https://www.ecrminerals.com/images/2023/Fig1_Locations_230502.png
Figure 2: Final gold results from soil sampling within the Mills Reef area:
https://www.ecrminerals.com/images/2023/Fig2_Mills Reef_230502.png
Figure 3: Final gold results from soil sampling at the Kuboid Hill prospect:
https://www.ecrminerals.com/images/2023/Fig3_Kuboid_Hill_230502.png
Figure 4: Plan showing Arsenic soil geochemistry results (gold pathfinder element) for the Quartz Hill prospect (EL006184):
https://www.ecrminerals.com/images/2023/Fig4_Quartz_Hill_230502.png
OVERVIEW OF SOIL SAMPLING PROGRAMS
ECR previously announced initial results from a recently completed soil sampling program at several prospects within its Creswick Project tenements (see RNS from April 17 2023 here). The use of LIDAR imagery to locate the extent of historic gold workings throughout the three Creswick exploration tenements (EL006184, EL006713 and EL006907) has assisted our geology team in identifying several likely looking hillslopes that could potentially have shed gold from several possible sources. To date, soil sampling has been completed at the prospects known as Blue Gum, Jackass Gully, Mills Reef and Bush Inn Road. All of these prospects lie along a mineralised corridor hosted known as the Dimocks Main Shale (DMS). Sampling has also been completed on parallel mineralised corridors that lie within the western half of the project area. Prospects here include Kuboid Hill, Greens Lode and Quartz Hill, shown in Figure One above. This is the first time such a detailed exploration campaign has been conducted across these project areas, and our geology team anticipate the net result of the work will be to establish a series of smarter locations for future drill plans.
FINAL GOLD RESULTS FROM SOIL SAMPLING AT MILLS REEF AND KUBOID HILL.
ECR has now received the completed gold analysis for soil sampling at the Mills Reef and Kuboid Hill prospects which lie within tenement EL006713 currently in the early stages of exploration. Previous rock chips from both Mills Reef and Kuboid Hill showed early promise.
Sampling from underground exposures within historic workings at Mills Reef produced results up to 0.25m @ 441.23 g/t Au (see RNS from April 17 2023 here), and in total the field team have collected 407 soil samples across hillslopes surrounding and along strike. The results have identified six gold anomalies within the area (see Figure Two above). It is no surprise to discover that Anomalies 2 and 3 lie within an area of previous historic mining disturbance, with the top of the lode originally discovered during the gold rush era of the 1870’s. The best result of (3.53 ppm Gold) is from the northern extremity of the soil grid marked as ‘Anomaly 1’, where there is no historic mining activity and which the geology team believe may represent the surface expression of another gold shoot near surface. (Shoot is old mining jargon for the payable portion of a lode). Anomaly 6 was identified from previously announced initial sample results, and is the only part of the Mills Reef East lode that contained gold values at surface. Mapping of geological veining associated with the previously announced high grade rock chips from the Mills Reef East Adit show a northerly plunge to this system, and if this trend were projected to the south, the geology team believe it would come to the surface in the vicinity of Anomaly 6.
Kuboid Hill is located on a parallel mineralised system of lodes that lie 5km to the west of Mills Reef. Whilst still an early stage exploration activity, gold results from the soil sampling are very encouraging with at least 48 samples reporting above 100 ppb Au (0.1 ppm). Three patches of anomalous gold have been identified over the sampled strike of 250m (see Figure Three above).
Both Mills Reef and Kuboid Hill have good access tracks that will benefit future exploration programs.
QUARTZ HILL
The field team has been testing along strike at mineralised corridors in the far north of tenement EL006184. Many of the creeks within this region have historically produced large amounts of alluvial gold, including nuggets. A number of the historical alluvial workings head up to a range known as Quartz Hill. There are two historical adits driven under the hill that allow access for future sampling of in-situ quartz veining. Soil sampling along a 500m strike of this hill has been completed, with initial pXRF analysis revealing reasonably high readings for the gold pathfinder element Arsenic (see Figure Four above). These samples have been submitted for further analysis and to identify any gold content.
FUTURE EXPLORATION
The Board has allocated a small budget to complete the final gold analysis for each of these soil programs, and it is hoped that the results will identify additional drill targets for the future. Our sampling results to date already show multiple gold anomalies throughout the whole Creswick tenement package.
Initial groundwork exploration at Creswick will remain an on-going focus throughout 2023, especially regarding other mineralised corridors that are now being identified on the newer tenements EL006713 and EL006907.
The Board has decided that remainder of the year will be primarily focussed on ECR’s North Queensland assets, including the Lolworth, Hurricane and Blue Mountain Projects. Ground conditions and access to these projects is now at its optimum, and as such the Board has decided to take full advantage of the conditions before the onset of the next wet season in December.
REVIEW OF ANNOUNCEMENT BY QUALIFIED PERSON
This announcement has been reviewed by Adam Jones, Technical Director of Exploration at ECR Minerals plc. Adam Jones is a professional geologist and is a Member of the Australian Institute of Geoscientists (MAIG). He is a qualified person as that term is defined by the AIM Note for Mining, Oil and Gas Companies.
FOR FURTHER INFORMATION, PLEASE CONTACT:
| ECR Minerals plc | Tel: +44 (0) 20 7929 1010 | |||
| David Tang, Non-Executive Chairman
Andrew Haythorpe, CEO |
||||
| Email: | ||||
| Website: www.ecrminerals.com | ||||
| WH Ireland Ltd | Tel: +44 (0) 207 220 1666 | |||
| Nominated Adviser
Katy Mitchell / Andrew de Andrade |
||||
| SI Capital Ltd | Tel: +44 (0) 1483 413500 | |||
| Broker | ||||
| Nick Emerson | ||||
| Novum Securities Limited | Tel: +44 (0) 20 7399 9425 | |||
| Broker
Jon Belliss |
||||
| Brand Communications | Tel: +44 (0) 7976 431608 | |||
| Public & Investor Relations | ||||
| Alan Green
|
||||
ABOUT ECR MINERALS PLC
ECR Minerals is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd (“MGA”) has 100% ownership of the Bailieston and Creswick gold projects in central Victoria, Australia, has six licence applications outstanding which includes one licence application lodged in eastern Victoria. (Tambo gold project). MGA is currently drilling at the Bailieston Blue Moon Project (EL5433) and undertaking geochemical exploration on the Creswick (EL6148) project and has an experienced exploration team with significant local knowledge in the Victoria Goldfields and wider region.
ECR also owns 100% of an Australian subsidiary LUX Exploration Pty Ltd (“LUX”) which has three approved exploration permits covering 946 km2 over a relatively unexplored area in Queensland, Australia.
Following the sale of the Avoca, Moormbool and Timor gold projects in Victoria, Australia to Fosterville South Exploration Ltd (TSX-V: FSX) and the subsequent spin-out of the Avoca and Timor projects to Leviathan Gold Ltd (TSX-V: LVX), Mercator Gold Australia Pty Limited has the right to receive up to A$2 million in payments subject to future resource estimation or production from projects sold to Fosterville South Exploration Limited.
ECR holds a 90% 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 – Approval Received For Two Further Exploration Tenements in Victoria, Australia
ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce it has received approval for two new exploration tenements in Victoria, Australia.
HIGHLIGHTS
- New tenement EL007296 now completes the total exploration package at Bailieston, Victoria.
- New Creswick tenement EL006713 effectively connects EL006184 and EL006907, creating a continuous land package from ECR’s Springmount property south through to the outskirts of Ballarat.
ECR CEO Andrew Haythorpe commented: “This is a great start to 2023 for our Company. The new Bailieston tenements effectively cover the strike extension of the Bailieston Anticline, providing us with an opportunity to continue with the Blue Moon drill campaign and push further west. The new Creswick tenement means that our land package there now provides almost uninterrupted land access from our Springmount property to the outskirts of Ballarat, which given our field team believe they have identified a new parallel gold system at Davey Road and South Davey (see December 23 2022 announcement here) should now mean we can fully explore these anomalies through to their origin.”
“Our field teams will be on the ground on our new tenements during Q1 2023, and I very much look forward to reporting on progress.”
The location of the new tenements can be found here:
Figure 1: https://www.ecrminerals.com/images/2023/Fig1_New_Tenements_230102.png
EL0007296 and EL006713 have been formally approved by the Victorian Government as of the 28th December 2022. Initial ground activities such as mapping, soil and rock chip sampling will begin in early 2023.
EL007296 adjoins EL5433 and covers the strike extension of the Bailieston Anticline. Known mineralisation occurring across the Bailieston prospects at HR3, Cherry Tree and Blue Moon are closely related to this anticline, and to date, there is no record of any exploration taking place within these new tenements.
EL006713 is located between ECR’s two other approved tenements EL006184 and EL006907 at Creswick, and effectively creates a continuous land package from ECR’s Brewing Lane property at Springmount south through to the outskirts of Ballarat. The approval of EL006713 means that on-ground exploration activities such as soil sampling and rock chips can now begin, with initial targets focusing on the proposed strike of quartz veins which the Board believe are hosted within the Dimocks Main Shale. In addition, the source of the alluvial gold within the western headwaters of the Madame Berry Deep Lead may reside within this new tenement.
Table 1: ECR Minerals current exploration tenements (granted and applied), Victoria, Australia (as of January 2023)
| Tenement | Name | Granted | Expiry | Area (km2) |
| EL5433 | Bailieston | 28/03/2013 | 27/03/2023 | 23 |
| EL006184 | Old Creswick | 29/12/2016 | *Renewal applied | 45 |
| EL006907 | South Creswick | 26/11/2021 | 25/11/2026 | 81 |
| EL007484 | Boucher Town | 26/11/2021 | 25/11/2026 | 374 |
| EL006911 | Graytown 1 | 5/12/2022 | 4/12/2027 | 10 |
| EL006912 | Graytown 2 | 8/12/2022 | 7/12/2027 | 77 |
| EL006713 | New Creswick | 28/12/2022 | 27/12/2027 | 66 |
| EL007296 | Wirrate | 28/12/2022 | 27/12/2027 | 32 |
| EL007486 | Ramrod Creek | in application | (322) | |
| EL007537 | Ballarat | Competing application | (138) | |
| TOTAL granted (km2) | 708 | |||
(…) notes exploration area in square kilometres.
REVIEW OF ANNOUNCEMENT BY QUALIFIED PERSON
This announcement has been reviewed by Adam Jones, Technical Director of Exploration at ECR Minerals plc. Adam Jones is a professional geologist and is a Member of the Australian Institute of Geoscientists (MAIG). He is a qualified person as that term is defined by the AIM Note for Mining, Oil and Gas Companies.
FOR FURTHER INFORMATION, PLEASE CONTACT:
| ECR Minerals plc | Tel: +44 (0) 20 7929 1010 | |||
| David Tang, Non-Executive Chairman
Andrew Haythorpe, CEO |
||||
| Email: | ||||
| Website: www.ecrminerals.com | ||||
| WH Ireland Ltd | Tel: +44 (0) 207 220 1666 | |||
| Nominated Adviser
Katy Mitchell / Andrew de Andrade |
||||
| SI Capital Ltd | Tel: +44 (0) 1483 413500 | |||
| Broker | ||||
| Nick Emerson | ||||
| Novum Securities Limited | Tel: +44 (0) 20 7399 9425 | |||
| Broker
Jon Belliss |
||||
| Brand Communications | Tel: +44 (0) 7976 431608 | |||
| Public & Investor Relations | ||||
| Alan Green
|
||||
ABOUT ECR MINERALS PLC
ECR Minerals is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd (“MGA”) has 100% ownership of the Bailieston and Creswick gold projects in central Victoria, Australia, has six licence applications outstanding which includes one licence application lodged in eastern Victoria. (Tambo gold project). MGA is currently drilling at the Bailieston Blue Moon Project (EL5433) and undertaking geochemical exploration on the Creswick (EL6148) project and has an experienced exploration team with significant local knowledge in the Victoria Goldfields and wider region.
ECR also owns 100% of an Australian subsidiary LUX Exploration Pty Ltd (“LUX”) which has three approved exploration permits covering 946 km2 over a relatively unexplored area in Queensland, Australia.
Following the sale of the Avoca, Moormbool and Timor gold projects in Victoria, Australia to Fosterville South Exploration Ltd (TSX-V: FSX) and the subsequent spin-out of the Avoca and Timor projects to Leviathan Gold Ltd (TSX-V: LVX), Mercator Gold Australia Pty Limited has the right to receive up to A$2 million in payments subject to future resource estimation or production from projects sold to Fosterville South Exploration Limited.
ECR holds a 70% interest in the Danglay gold project; an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines, which has a 43-101 compliant resource. ECR also holds a royalty on the SLM gold project in La Rioja Province, Argentina and can potentially receive up to US$2.7 million in aggregate across all licences
ECR Minerals #ECR – Andrew Scott, Andrew Haythorpe & Adam Jones discuss Blue Moon & other projects
ECR’s Andrew Scott, Andrew Haythorpe & Adam Jones discuss today’s developments at Blue Moon & other projects. Andrew Haythorpe describes the consistent predictable grades across Blue Moon and says today’s hole assay is just another step in that direction. Adam then covers the drilling campaign, following the 2019 RC drilling campaign. The current hole is 150m to the west, and with holes 100-200m apart the results are promising, with bleaching on the core consistent with the structure. Currently three holes have been completed 3 holes, if mineralisation continues then “happy days”, a possible resource. Assays from the remaining holes should be back in early December, so. the company will announce next steps and next drill holes then. Plenty more to look forward to as well – Omeo hasn’t even been touched yet, plenty of blue sky potential, Hurricane mineralisation on surface, Lolworth assays pending from stream sediment and rock chips, field team back out there in a few days. All field samples now with the labs, looking like a good Christmas and strong start to 2023.
Andrew Scott and ECR Minerals #ECR CEO Andrew Haythorpe discuss the Placer Gold & Hurricane Acquisition
Andrew Scott and ECR Minerals #ECR CEO Andrew Haythorpe discuss the Placer Gold & Hurricane Acquisition.
Andrew H explains how, through his previous work at Hurricane, the area is high prospective for gold and antimony. A raft of historical data, numerous veins of mineralisation between 2-5m thick containing 1, 2, 5, 20 g/t – commercial grades. The region is inland from Port Douglas, and due to the relatively inhospitable climate has never been drilled, although a colleague geologist visited the area last year and reported back to Andrew on the extensive veining and mineralisation.
Andrew then discusses the option to acquire the project, very much a try before you buy approach in that the initial fee goes into the ground. Then, armed with the knowledge of the region from drilling, the option to buy, is he believes a great, risk managed approach. The potential acquisition is a good fit for ECR, which sits well alongside the Lolworth project, also being in the same region. The acquisition is a step change for ECR – Andrew says the team will be knocking on the rocks with gold in them.
ECR Minerals #ECR – CEO Andrew Haythorpe talks to Andrew Scott, October 2022
Andrew Haythorpe talks to Andrew Scott about the latest developments. He explains the nuggety gold nature of Creswick and how he has approached assessing Creswick as a prospect for the company. He is very encouraged by the results and proven sampling process, stating he believes it adds confidence as the team work towards planning resources, reserve estimate and mine plan. Andrew then talks through the final results from drilling at Bailieston, the multiple hits, and the search for more consistent grades to build a feasibility study. He tells Andrew Scott why Blue Moon is one of the lead prospects due to the grades, widths, consistency and geology – potentially a massive system. Andrew then looks at the new drill rig and how that will be deployed, before discussing the further progress on non-core asset sales. Andrew looks at next steps, with a focus on Blue Moon drilling through to Christmas, bringing the new rig work to bring up to spec, then moving it to Creswick. He talks through the sampling programme at Lolworth in N Queensland, what the team have seen so far is v encouraging, with potential for multiple gold occurrences. Andrew finishes with a look at the macro picture for investors, and how ECR are building value from the ground up.
ECR Minerals #ECR – Director Adam Jones discusses the latest Creswick update, plus Bailieston, Blue Moon and Lolworth projects
ECR Technical Director Adam Jones talks to Alan Green about the latest re-assay update from Creswick and the bumper gold grades. We look at what this will mean for Creswick going forward, before moving onto the final drilling results announced last week from Bailieston, the latest drilling news from the Blue Moon project and the Lolworth Range sampling programme in N Queensland. We finish with some near term milestones for investors to look out for.
ECR Minerals #ECR – New CEO onsite at Creswick and Bailieston
ECR Minerals #ECR new CEO Andrew Haythorpe has been onsite at Creswick and Bailieston this week.
he stopped in at the operational HQ at #Bendigo. Here, Senior Field Tech Steve Dunn checks core samples from the most recent drilling campaign into the Maori Anticline at HR3 #gold #goldmine #Australia
ECR Minerals #ECR – Creswick Project Update
ECR Minerals plc (LON: ECR), the gold exploration and development company focussed on gold exploration in Australia, is pleased to provide an update regarding the Creswick exploration project to shareholders.
ECR Minerals plc has 100% ownership of EL006184 and EL006907 located at Creswick, Central Victoria, Australia. Exploration is being undertaken by ECR’s Australian wholly owned subsidiary Mercator Gold Australia Pty Ltd (“MGA”).
ECR Chairman David Tang commented: “On behalf of our board I am pleased to report that these results show that Creswick, while complex in its geology and the nature of its mineralisation, has provided a solid platform of data that fully justifies our decision to progress Creswick and EL006184 to the next phase of exploration. The latest data also further justifies the strategy behind the purchase of the Brewing Lane property in September 2021, as it now provides a centre for our operations in Creswick and the potential to develop a mine decline should we decide to embark on that course in the future. Our board and exploration team are also excited by the potential at the recently awarded license area at EL006907, adjacent to Creswick”
“I would also like to apologise to shareholders for the delay in publishing the Creswick results. The prevalence of COVID-19 in Victoria in recent months has resulted in delays in results from the laboratory and interruptions in the supply chain supporting exploration activities.”
“Our search for a CEO continues, some early candidates have been identified and the interviewing process is underway. I would ask shareholders to bear with us during this time. I am also aware that some shareholders are concerned that our social media communication process has fallen below previous levels. We are working to address this.”
SUMMARY:
- Anomalous gold results have been received from the remaining samples from the diamond drilling program completed at the end of 2021.
- Recent duplicate sampling is revealing erratic gold results due to the presence of coarse gold, potentially undervaluing the true estimated grade.
- Assay result turn-around time has been delayed due to COVID-19 management and related staff shortages at the laboratory.
BACKGROUND
The Creswick project is located approximately 18km to the north of the City of Ballarat. Ballarat itself has a rich history of gold and is still producing at the nearby Ballarat East Goldmine. The Creswick project consists of two active tenements respectively EL006184 and EL006907, plus MGA are awaiting the outcome of licence applications in the surrounding adjacent ground.
Intense historic alluvial gold workings exist within the tenements. Mapping the extent of the alluvial gold workings has traced the potential source of the gold to quartz veining associated with a wide, shale rich rock unit termed the Dimocks Main Shale (“DMS”). The company believes the strike extent of the DMS can be traced for at least 15km. On September 2nd 2021 ECR announced the acquisition of a property at 35 Brewing Lane, Springmount, which sits in our existing license area EL006184. As stated in the announcement of Sept 2nd, the property has provided 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. Link to the Brewing Lane property announcement here
Our recent work has been concentrated within EL006184 close to Springmount, and the last three years has seen the Company complete RC drilling totalling 1691 metres and most recently complete 16 diamond drill holes for a total of 3433 metres. A detailed plan view showing the location of exploration activities undertaken during the 2021 year is linked below:
https://www.ecrminerals.com/images/2022/Fig1_Plan_of_Creswick_Project_Area_2021-1.png
OUTCOME OF DIAMOND DRILLING ACTIVITIES DURING 2021
Diamond drilling was undertaken to confirm the structural architecture of quartz mineralisation that was interpreted from the 2019 RC drilling program. The hypothesis was that quartz is situated in both bedding and axial cleavage planes formed within the DMS horizon which in places can be up to 25 metres in width. The substantial width and strike length of the DMS means the target is of great importance to ECR. Initial results from diamond holes CSD001 and CSD002 showed early success for gold mineralisation. Geological logging of diamond core also successfully proved that quartz mineralisation has preferentially developed within the shales. Drilling continued at broad spaced intervals approximately 300m apart and along strike of the DMS to the south for 2.1 km. Results show quartz mineralisation is still present along the strike limits of the drilling completed to date. Anomalous gold was detected in the southern most drill hole (CJD001) with 0.5m @ 0.54 g/t Au from 324m. As previously reported, the best intercept was from hole CSD003 drilled on top of a ridge south of Blue Gum Track. This important hole is located in an area with no previous mining history. Follow up drilling to CSD003 intercepted quartz mineralisation where expected, however grades were not as extraordinary as hole CSD003 with the best intercept being in CSD013 for 1m @ 1.98 g/t Au from 80.5m downhole. Drilling of hole CSD005 and CSD006 intercepted a large milled fault zone, believed by MGA geologists to be a cross-course fault, as commonly seen at the Ballarat East goldfield. All gold intercepts from the 2021 drilling considered anomalous above the lowest reportable levels are shown in Table 1 below.
Table 1. Summary of drill intercepts containing reportable anomalous levels of gold (0.11 g/t Au for the diamond drilling program completed on EL006184 during 2021. (*highlights in RED bold)
CSD001
| From (m) | To (m) | Grade (g/t Au) | Interval (m) |
| 12.3 | 12.55 | 0.19 | 0.25 |
| 43.15 | 44.15 | 0.23 | 1 |
| 58.2 | 59.1 | 0.92 | 0.9 |
| 86 | 87 | 0.13 | 1 |
| 131.9 | 132.9 | 9.68 | 1 |
| 147.7 | 148.7 | 0.25 | 1 |
| 205.65 | 206.45 | 0.11 | 0.8 |
| 206.45 | 207.4 | 0.14 | 0.95 |
| 211.95 | 212.45 | 0.11 | 0.5 |
| 225.9 | 226.9 | 0.12 | 1 |
| 226.9 | 227.9 | 0.11 | 1 |
| 231.4 | 232.45 | 0.11 | 1.05 |
| 240 | 241.05 | 0.37 | 1.05 |
| 257.3 | 257.7 | 0.26 | 0.4 |
CSD002
| From (m) | To (m) | Grade (g/t Au) | Interval (m) |
| 65.9 | 66.5 | 0.22 | 0.6 |
| 99.9 | 100.8 | 0.2 | 0.9 |
| 173.1 | 174.1 | 4.78 | 1 |
| 178.7 | 179.2 | 0.16 | 0.5 |
| 179.55 | 179.85 | 0.19 | 0.3 |
| 179.85 | 180.2 | 0.39 | 0.35 |
| 182.1 | 183.1 | 0.11 | 1 |
CSD003
| From (m) | To (m) | Grade (g/t Au) | Interval (m) |
| 84.2 | 85.15 | 9.93 | 0.95 |
| 89.05 | 90 | 23.58 | 0.95 |
CSD004
| From (m) | To (m) | Grade (g/t Au) | Interval (m) |
| 125.7 | 126.7 | 0.18 | 1 |
CSD005
| From (m) | To (m) | Grade (g/t Au) | Interval (m) |
| 84 | 85 | 0.22 | 1 |
| 91.8 | 92.3 | 0.16 | 0.5 |
| 94.32 | 95.3 | 0.13 | 0.98 |
CSD007
| From (m) | To (m) | Grade (g/t Au) | Interval (m) |
| 26 | 27 | 0.15 | 1 |
| 67.6 | 68.2 | 0.16 | 0.6 |
| 233.5 | 234.5 | 0.11 | 1 |
CSD008
| From (m) | To (m) | Grade (g/t Au) | Interval (m) |
| 2.3 | 3.3 | 0.21 | 1 |
| 26.4 | 27.1 | 0.45 | 0.7 |
| 27.1 | 27.9 | 0.69 | 0.8 |
CSD009
| From (m) | To (m) | Grade (g/t Au) | Interval (m) |
| 88.3 | 88.7 | 0.28 | 0.4 |
| 149.7 | 151 | 0.21 | 1.3 |
CSD011
| From (m) | To (m) | Grade (g/t Au) | Interval (m) |
| 62 | 62.5 | 0.29 | 0.5 |
| 71 | 72 | 0.12 | 1 |
CSD012
| From (m) | To (m) | Grade (g/t Au) | Interval (m) |
| 113 | 113.5 | 0.61 | 0.5 |
CSD013
| From (m) | To (m) | Grade (g/t Au) | Interval (m) |
| 80.5 | 81.5 | 1.98 | 1 |
CSD014
| From (m) | To (m) | Grade (g/t Au) | Interval (m) |
| 18.4 | 19.4 | 0.14 | 1 |
| 19.4 | 20.4 | 0.12 | 1 |
| 55.8 | 56.4 | 0.24 | 0.6 |
CJD001
| From (m) | To (m) | Grade (g/t Au) | Interval (m) |
| 254.6 | 255 | 0.11 | 0.4 |
| 324 | 324.5 | 0.54 | 0.5 |
| 325.5 | 326 | 0.11 | 0.5 |
CJD002
| From (m) | To (m) | Grade (g/t Au) | Interval (m) |
| 8 | 9 | 0.2 | 1 |
| 55.4 | 56.5 | 0.34 | 1.1 |
| 78.5 | 79.1 | 2.99 | 0.6 |
| 79.1 | 80.1 | 0.26 | 1 |
| 83.4 | 84.4 | 0.19 | 1 |
| 86.5 | 87.5 | 0.15 | 1 |
| 93.6 | 94.6 | 0.75 | 1 |
| 98 | 99.1 | 0.15 | 1.1 |
| 109.4 | 110.4 | 0.13 | 1 |
| 121.1 | 122.2 | 0.41 | 1.1 |
| 147.9 | 148.4 | 0.17 | 0.5 |
| 179.8 | 180.3 | 0.16 | 0.5 |
| 214.9 | 215.4 | 0.13 | 0.5 |
COARSE GOLD REVEALED IN SAMPLING
Geologists generally consider coarse gold deposit results above 0.2 g/t Au as anomalous and worth duplicating. Recently, a series of rock chips were taken by MGA geologists from exposed quartz veins in historic pits and trenches adjacent to Blue Gum Track. Duplicate sampling has revealed a large variability in gold grades. In particular, a chip sample 0.4m wide (true width) across outcrop initially showed 0.15 g/t Au. Replicating this sample with the same sampling protocols revealed 0.4m @ 31.8 g/t Au.
Previous bulk sampling of 1m drill composite samples from the 2019 RC drilling highlighted the presence of coarse gold which showed significant variability to the grades received from the initial 2kg riffle split samples from the RC drill rig. Samples that showed detectable gold were later bulk sampled in entirety from the remaining 1m drilled, 50 kg sample. Random nuggetty gold particles within the bulk samples increased the overall grade. Examples of this is shown in fig 2 linked below:
https://www.ecrminerals.com/images/2022/Fig2_Creswick_gold_particle_examples.png
The variability in gold grade is a reflection of the sample size (known as the volume-variance relationship). The larger the sample size, the better representation of the true average grade. Gold at Creswick is coarse and unevenly distributed, although the different size particles are located close together. HQ sized diamond drilling produces a core of rock 63.5mm in diameter with half of this diameter sent as a sample. The probability of 
sampling a coarse particle of gold within the core is low. RC drilling is larger in diameter and therefore produces a larger sample size increasing the probability of sampling a particle of gold. RC drilling however produces rock chips where geological quality is lost and understanding of the structural host to the best mineralisation cannot be interpreted and followed up on. A balance between drilling for structure by diamond drilling combined with grade drilling by RC drill methods targeted at the most extensively mineralised part of the system is now believed to be the best methodology with which to progress the Creswick asset.
The volume-variance relationship between diamond and RC drill methods in a coarse gold mineralised system is visually shown in fig 3 in the following link:
https://www.ecrminerals.com/images/2022/Fig3_volume-variance_drill_sizes.png
PROPOSED DEVELOPMENT PLAN
MGA have applied to renew EL006184 for another 5 years and are awaiting final approval. As the current incumbent, MGA has first rights over the license, and MGA Director and Geologist Adam Jones is proposing the next phase of exploration within EL006184 as follows;
- Soil sampling programmes over the up-dip projections of quartz mineralisation identified from the 2021 diamond drilling campaign to test for sub-cropping gold shoots.
- ECR’s property at Brewing Lane, Springmount contains numerous old abandoned gold workings with some underground exposures that offer opportunities for mapping and sampling, followed up by drilling.
- The Company is currently seeking advice on which appropriate geophysical techniques may highlight important structures that control the distribution of gold mineralisation within the DMS.
- Follow up drilling to include detailed RC and diamond drilling within the Brewing Lane property and adjacent ground with emphasis on bulk sampling techniques as was done in 2019.
Furthermore, MGA will start to evaluate prospects further south of existing drilling in the recently approved EL006907 using exploration techniques that proved successful on EL006184.
MGA is continuing to progress with drilling at the Bailieston tenements (EL5433), focussing on the Maori Reef and parallel reef systems within the HR3 goldfield. The geology team is also making progress with plans to re-enter and continue exploration on the Blue Moon prospect located on the southern extent of EL5433.
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.
FOR FURTHER INFORMATION, PLEASE CONTACT:
| ECR Minerals plc | Tel: +44 (0) 20 7929 1010 | ||
| David Tang, Non-Executive Chairman | |||
| Email: | |||
| Website: www.ecrminerals.com | |||
| WH Ireland Ltd | Tel: +44 (0) 207 220 1666 | ||
| Nominated Adviser
Katy Mitchell / Andrew de Andrade |
|||
| 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 (EL5433) and Creswick (EL6148) projects and has an experienced exploration team with significant local knowledge in the Victoria Goldfields and wider region.
https://mercatorgold.com.au/
ECR also owns 100% of an Australian subsidiary LUX Exploration Pty Ltd (“LUX”) which has three licence applications covering 900 km2 covering a relatively unexplored area in Queensland, Australia.
https://luxexploration.com/
Following the sale of the Avoca, Moormbool and Timor gold projects in Victoria, Australia to Fosterville South Exploration Ltd (TSX-V: FSX) and the subsequent spin-out of the Avoca and Timor projects to Leviathan Gold Ltd (TSX-V: LVX), Mercator Gold Australia Pty Limited has the right to receive up to A$2 million in payments subject to future resource estimation or production from projects sold to Fosterville South Exploration Limited.
ECR holds a 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 – Creswick Exploration Licence Renewal Application EL006184
ECR Minerals plc (LON: ECR), the gold exploration and development company focussed on gold exploration in Australia, is pleased to announce that it has submitted an application to renew current exploration license EL006184 for an extended five-year term.
EL006184 covers land owned by one of ECR Minerals plc 100% owned Creswick projects and is operated by its subsidiary company Mercator Gold Australia Pty Ltd (“MGA”).
ECR Chairman David Tang commented: “We are pleased to report that ECR has completed the application to renew Creswick exploration license EL006184 for an extended five-year term. Together with our recently approved licence EL006907 covering the Ballarat East Nerrina Goldfield, this area provides access to the Dimocks Main Shale strike zone, believed to host the source veining for much of the alluvial gold within the Creswick deep lead alluvial system.”
“I look forward to providing further updates once our drill team and equipment return to Creswick”
SUMMARY:
- Initial tenure of EL006184 expired on the 28th December 2021. The application renewal for the tenement for a further five-year term has been submitted.
- MGA has first right in securing and applying to renew the ground covered by EL006184.
EL006184 has been a pivotal part of MGA’s exploration strategy and activities during 2021. Work undertaken includes the first ever diamond drill program conducted within the area, in addition to which MGA owns land and property at 35 Brewing Lane, Springmount sited within the tenement area. Exploration is scheduled to continue within MGA’s Creswick tenement area and will include further work along the Dimock Main Shale strike zone which is central to EL006184.
The renewal of EL006184 also complements recently approved licence EL006907 sited south and along strike of the mineralised belt towards Ballarat, Victoria, which the directors believe hosts the source veining for much of the alluvial gold within the Creswick deep lead alluvial system. Once the renewal is granted, the Company expects to return to recommence work at Creswick and within the new license area after completion of current operations at Bailieston, Victoria.
Further updates will be provided when the application has been processed.
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.
FOR FURTHER INFORMATION, PLEASE CONTACT:
| ECR Minerals plc | Tel: +44 (0) 20 7929 1010 | ||
| David Tang, Non-Executive Chairman | |||
| Email: | |||
| Website: www.ecrminerals.com | |||
| WH Ireland Ltd | Tel: +44 (0) 207 220 1666 | ||
| Nominated Adviser
Katy Mitchell / Andrew de Andrade |
|||
| 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 (EL5433) and Creswick (EL6148) projects and has an experienced exploration team with significant local knowledge in the Victoria Goldfields and wider region.
https://mercatorgold.com.au/
ECR also owns 100% of an Australian subsidiary LUX Exploration Pty Ltd (“LUX”) which has three licence applications covering 900 km2 covering a relatively unexplored area in Queensland, Australia.
https://luxexploration.com/
Following the sale of the Avoca, Moormbool and Timor gold projects in Victoria, Australia to Fosterville South Exploration Ltd (TSX-V: FSX) and the subsequent spin-out of the Avoca and Timor projects to Leviathan Gold Ltd (TSX-V: LVX), Mercator Gold Australia Pty Limited has the right to receive up to A$2 million in payments subject to future resource estimation or production from projects sold to Fosterville South Exploration Limited.
ECR holds a 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 – Bailieston Drilling Update For Holes BH3DD010 and BH3DD011
ECR Minerals plc (LON: ECR), the gold exploration and development company focussed on gold exploration in Australia, is pleased to provide updated results from the initial first drill section across the ‘Maori’ Anticline target within HR3 at Bailieston, Victoria, Australia.
ECR Minerals plc has 100% ownership of the Bailieston Project (EL5433), which is operated under its Australian wholly owned subsidiary Mercator Gold Australia Pty Ltd (“MGA”).
ECR Chairman David Tang commented: “We are pleased with the follow-up results for holes BH3DD010 and BH3DD011 at HR3. Our understanding of the Maori Anticline, along with the extent and types of mineralisation, has grown exponentially, and our team on the ground continues to work to a tight schedule and maintain our aggressive drilling programmes. Further assay results and data are due very shortly, and I look forward to sharing those with our shareholders as they become available.”
“As our search for a new CEO continues, our committee of directors, including myself, Trevor Davenport and Adam Jones continue to drive the business forward. I would also like to stress that we are all easily contactable should shareholders and investors have any queries during this transition period”
SUMMARY:
- Assay results now received for holes BH3DD010 and BH3DD011, completing the first diamond drill section across the upper part of the ‘Maori’ Anticline.
- Highest results are from hole BH3DD011 with 0.4m @ 4.65 g/t Au from 39.8m and 0.5m @ 6.97 g/t Au from 68m down-hole.
- Three mineralised zones within each drill hole identified.
- Structural observations from drill core show how dilational gold / antimony mineralised zones form at favourable intersections between NW and NE striking veins.
Assay results for a further two diamond holes across the first drilled section of the upper part of the ‘Maori Anticline’ target have now been received. These results follow-up ECR’s previous announcement released on the 29/11/2021 in regards to hole BH3DD009 where an initial successful result of 0.7m @ 28.06 g/t Au from 52.7m was recorded. Holes BH3DD010 and BH3DD011 were subsequently drilled on the same azimuth, but at two different angles to test the up and down dip continuance of the grade in BH3DD009.
The following link to the interpreted geological section for holes BH3DD009, BH3DD010 and BH3DD011 relates to the detailed information in the paragraphs below.
https://www.ecrminerals.com/images/2021/ECRsection.jpg
BH3DD010
Hole BH3DD010 was collared with a dip of -67 degrees. Three mineralised ‘zones’ have been drilled through with the best intercept of 0.9m @ 1.18 g/t Au from 64.4m down-hole. This intersection is part of a broader anomalous halo as shown as ‘Zone 2’ on the accompanying figure 1. Drilling passed through the Maori Anticline where drilling ended at a depth of 111.2m.
BH3DD011
BH3DD011 was drilled with a dip of -50.5 degrees from horizontal to a final depth of 102.2m. Three mineralised zones were also passed. The upper ‘Zone 4’ is a hanging-wall system to the Maori Reef. Interpretations from orientated drill core show this to be a linking quartz-splay system between the Hard Up and Maori Reef. Best intersection in Zone 4 was 0.4m @ 4.65 g/t Au from 39.8m depth.
The Maori Reef was intercepted as expected around 55m depth where a fault zone with complex folding on the immediate hanging wall was identified. This zone contained no significant intercepts. A broad quartz mineralised ‘Zone 5’ was encountered at 60.1m depth. Best intersection within Zone 5 was 0.5m @ 6.97 g/t Au from 68m depth. This intercept is supported by a lower grade halo with other results of 1m @ 2.68 g/t from 65.4m and 0.7m @ 2.05 g/t Aufrom 69m. Structural logging of veining through this zone shows the vein to strike NNE with a dip direction to the NW which correlates well to the cross-vein known as the Hard Up Reef. Further drilling passed a faulted system ‘Zone 6’ which returned a best grade of 0.5m @ 1.09 g/t Au. Drilling ended at 102.2m depth on the eastern dipping sediments of the anticline.
MINERALISATION MODEL REVEALED
Drilling of BH3DD009, BH3DD010 and BH3DD011 shows three broad mineralised zones that are accompanied by visual evidence of stibnite (a sulphide of Antimony). Relating to figure 1, orientated drill core shows that quartz mineralisation is bedding parallel in Zone 1 and Zone 2, oblique to bedding in Zone 5 and hosted in brittle faults between Zone 3 and Zone 6. Best intercepts from all three holes suggests the best gold developments have formed where structures are favourable to dilate adjacent to structures that compress and pinch as seen at 55m depth in BH3DD011. Stockwork veining and oblique structures to bedding also relate spatially to elevated gold values as seen in Zone 5 in BH3DD011 and the stockwork veining in BH3DD009. At the goldfield level of scale, there is a close spatial development of such structures within the acute angle of intersecting NNW and NE striking veining where a ‘wrench’ or dilational ‘jog’ develops. This pattern is also observable and outlined in plan view by the numerous historic mined trenches and pits across the HR3 goldfield. Information gleaned from drilling this first drill section may also apply to other similar lineation trends across the field.
Table 1. Summary of drill intercepts containing reportable levels of gold greater than 0.1 g/t Au for BH3DD010 and BH3DD011 (*highlights in bold)
BH3DD010
| From (m) | To (m) | Grade (g/t Au) | Interval (m) | ‘Zone’ |
| 51.05 | 51.6 | 0.14 | 0.55 | Zone 1 |
| 52.8 | 53.8 | 0.37 | 1 | Zone 1 |
| 53.8 | 54.7 | 0.16 | 0.9 | Zone 1 |
| 57.5 | 58.5 | 0.15 | 1 | Zone 1 |
| 63.6 | 64.4 | 0.2 | 0.8 | Zone 2 |
| 64.4 | 65.3 | 1.18 | 0.9 | Zone 2 |
| 66.8 | 67.7 | 0.31 | 0.9 | Zone 2 |
| 69.1 | 70 | 0.2 | 0.9 | Zone 2 |
| 70 | 70.9 | 0.15 | 0.9 | Zone 2 |
| 71.9 | 72 | 0.13 | 0.1 | Zone 2 |
| 100 | 101 | 0.22 | 1 | Zone 3 |
| 103.8 | 104.6 | 0.16 | 0.8 | Zone 3 |
BH3DD011
| From (m) | To (m) | Grade (g/t Au) | Interval (m) | ‘Zone’ |
| 2.5 | 2.8 | 0.11 | 0.3 | |
| 35.2 | 36.2 | 0.37 | 1 | |
| 39.8 | 40.2 | 4.65 | 0.4 | Zone 4 |
| 40.2 | 41.2 | 0.39 | 1 | Zone 4 |
| 55.5 | 56 | 0.13 | 0.5 | |
| 56 | 56.5 | 0.19 | 0.5 | |
| 57.7 | 58.2 | 0.11 | 0.5 | |
| 60.1 | 61.1 | 0.11 | 1 | Zone 5 |
| 61.1 | 62.1 | 0.11 | 1 | Zone 5 |
| 62.1 | 62.7 | 0.12 | 0.6 | Zone 5 |
| 62.7 | 63.7 | 0.17 | 1 | Zone 5 |
| 63.7 | 64.7 | 0.13 | 1 | Zone 5 |
| 64.7 | 65.4 | 0.24 | 0.7 | Zone 5 |
| 65.4 | 66.4 | 2.68 | 1 | Zone 5 |
| 66.4 | 67.2 | 0.91 | 0.8 | Zone 5 |
| 67.2 | 68 | 1.81 | 0.8 | Zone 5 |
| 68 | 68.5 | 6.97 | 0.5 | Zone 5 |
| 68.5 | 69 | 0.96 | 0.5 | Zone 5 |
| 69 | 69.7 | 2.05 | 0.7 | Zone 5 |
| 69.7 | 70 | 0.86 | 0.3 | Zone 5 |
| 73 | 74 | 0.11 | 1 | |
| 82.5 | 83.5 | 0.11 | 1 | |
| 88.4 | 89.1 | 0.16 | 0.7 | Zone 6 |
| 89.1 | 90 | 0.21 | 0.9 | Zone 6 |
| 90 | 90.7 | 0.71 | 0.7 | Zone 6 |
| 90.7 | 91.2 | 1.09 | 0.5 | Zone 6 |
| 91.2 | 91.6 | 0.35 | 0.4 | Zone 6 |
| 94 | 95 | 0.13 | 1 | |
| 95 | 95.8 | 0.67 | 0.8 |
FORWARD LOOKING STATEMENTS
With these results logged, MGA continues to drill the upper end of the Maori Reef system towards the north. First impressions of drill core continue to show visual indicators of mineralisation of pyrite, stibnite and to a lesser extent arsenopyrite. We will continue to report these results to the markets in the coming weeks.
As stated on the previous HR3 drilling update on November 29th 2021, MGA continued to engage the services of the same contract rig that completed drilling at Creswick at hole EL006148. MGA also decided to utilise its larger rig to complete orientated drill core over the broader HR3 goldfield. The contract drilling is now complete. Logging is still in progress for this drilling campaign, with initial results scheduled for release shortly. Follow-up drilling will commence using ECR’s owned and operated ‘Midas’ drill rig where appropriate.
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.
FOR FURTHER INFORMATION, PLEASE CONTACT:
| ECR Minerals plc | Tel: +44 (0) 20 7929 1010 | ||
| David Tang, Non-Executive Chairman | |||
| Email: | |||
| 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 (EL5433) and Creswick (EL6148) projects and has an experienced exploration team with significant local knowledge in the Victoria Goldfields and wider region.
https://mercatorgold.com.au/
ECR also owns 100% of an Australian subsidiary LUX Exploration Pty Ltd (“LUX”) which has three licence applications covering 900 km2 covering a relatively unexplored area in Queensland, Australia.
https://luxexploration.com/
Following the sale of the Avoca, Moormbool and Timor gold projects in Victoria, Australia to Fosterville South Exploration Ltd (TSX-V: FSX) and the subsequent spin-out of the Avoca and Timor projects to Leviathan Gold Ltd (TSX-V: LVX), Mercator Gold Australia Pty Limited has the right to receive up to A$2 million in payments subject to future resource estimation or production from projects sold to Fosterville South Exploration Limited.
ECR holds a 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.