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ECR Minerals #ECR – Investor Presentation and Strategic Update

The Company confirms that its board of directors will be attending the Proactive One2One Investor Forum this evening in London.

At the event, CEO Andrew Haythorpe will be discussing the Company’s exploration activities for its assets in Australia (as set out in the Company’s announcements). Andrew will also outline an updated strategic plan with a series of action points for the year ahead. These include:

  • The highly prospective Blue Moon prospect at the Bailieston gold project, plus the Maori Reef system at HR3.
  • Creswick gold project summary.
  • The gold potential of its 100%-owned licenses at Lolworth Range, Queensland, Australia and plans for boots on the ground in 2022.
  • A potential disposal of some of the Company’s non-core assets; and
  • The Company remains focussed on delivering the next multi-million ounce discovery.

Commenting CEO Andrew Haythorpe said; “Having undergone a significant transition during the first part of 2022, ECR Minerals is now at an exciting and pivotal stage in its evolution as a gold exploration company. Your board is confident that by actioning the disposals and strategy outlined above, we can streamline the business and ensure we have the resources in place to deliver on our objectives.”

“I look forward to updating our shareholders this evening as well as in the coming months, as we progress our drilling and exploration activities.”

Additional Disclaimer

Whilst the strategy outlined above includes a potential disposal this strategy is speculative in nature and there can be no guarantee that any disposal will occur. In addition whilst the potential disposals outlined above are considered by the Directors to be disposals of non-core assets they may, depending on any future negotiated terms, be considered a fundamental disposal of the Company pursuant to AIM Rule 15 of the AIM Rules for Companies. That being the case, any such disposal would be conditional on shareholder approval. Further updates will be provided in due course as appropriate.

FOR FURTHER INFORMATION, PLEASE CONTACT:

 

ECR Minerals plc Tel: +44 (0) 20 7929 1010
David Tang, Non-Executive Chairman

Andrew Haythorpe, CEO

Email:

info@ecrminerals.com

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

BlytheRay 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.

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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 Queensland, Australia.

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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 – Half-yearly financial results for the six months ended 31 March 2022

LONDON: 30 JUNE 2022 – ECR Minerals plc, the gold exploration and development company, is pleased to announce unaudited half-yearly financial results for the six months ended 31 March 2022 for the Company as consolidated with its subsidiaries (the “Group”), along with a review of significant developments during the period and subsequently.

HIGHLIGHTS

  • The gold exploration boom in Victoria, Australia has continued, with material progress made at the Company’s flagship Creswick and Bailieston assets. ECR’s acquisition of the Brewing Lane and Nagambie-Rushworth Road properties has enhanced access and exploration opportunities at both projects.
  • In December 2022, the Company was notified it had been granted licence EL006907 linking Creswick to Ballarat East-Nerrina. The board views this as a key step in building our understanding of the Dimocks Main Shale anomaly and developing ECR’s Creswick project. Also granted was licence EL007484 in East Victoria, situated 50km north of Bairnsdale in the east of the state of Victoria encompassing the alluvial fields of Swifts Creek and the Mid to Upper reaches of the Tambo River.
  • Despite severe delays in receiving assay results during the period due to the impact of COVID-19, the results we did receive from our ongoing drilling campaigns at Bailieston and HR3 delivered substantial progress in both gold grades and our understanding of the regional geology.
  • Drilling and subsequent 3D modelling of HR3 drillholes BH3DD005, BH3DD006 and BH3DD007 earlier in the year revealed a moderate south plunging fold underneath and along strike of the Maori Reef workings. In November 2022 we reported initial results from BH3DD009, the first hole completed, which returned 0.7m @ 28.06g/t Au from 52.7m depth from the Maori Reef. Holes BH3DD010 and BH3DD011 reported consistent gold grades in December 2022, while soil sampling results revealed a larger area of anomalies, supporting a dilational jog model theory developed by our head geologist Adam Jones. In March 2022 further data identified five mineralised zones, all correlated to the Maori Anticline (within the Maori Reef), plus consistent gold grades were identified in hole BH3DD012 and visible gold in hole BH3DD034 (see announcement dated 14 March 2022 for full details).
  • In February 2022, exploration licences EPM27901, EPM27902 and EPM27903 were granted to 100% owned subsidiary LUX Exploration Limited (“LUX”), in the Lolworth Region, North Queensland. The licences are located approximately 120km west of the historic Charters Towers Gold Mine in North Queensland and cover 964 km2. Historic stream sediment sampling indicates that the Lolworth Range area is prospective for gold, tungsten and tin.
  • During the period under review, Dr Trevor George Davenport was appointed as an Independent Non-Executive Director. Most recently Dr Davenport consulted for Kryso Resources Plc at the time of the takeover of control of the company by China Nonferrous International Mining Co. Ltd in 2011. In January 2022, Andrew Scott, a communications specialist and media professional was also appointed as a Non-Executive Director. The sad loss of former CEO Craig Brown presented a substantial challenge to the management team. Nonetheless, a committee was formed with Chairman David Tang, and Non-Exec Directors Dr Davenport and Adam Jones, to manage the company up to the appointment of a new CEO.
  • Post-period end, on 11 April 2022 Andrew Haythorpe was appointed as CEO (currently a non-board position). Andrew has more than 20 years of experience managing listed gold miners and explorers on the ASX and TSX as well as working as a mining analyst and actively exploring for gold as a geologist.
  • Post-period end, Ludevico Estacio, the Chairman of Philippines company Cordillera Tiger Gold Resources, Inc., (in which ECR had a 25% shareholding), agreed to sell his shares (1,499,996 in total) to ECR. The consideration of 1,499,996.00 Philippine pesos (approximately £22,000) was paid for in cash, and ECR now holds 2,333,329 Ordinary Shares in Cordillera representing 70% of its issued share capital (see announcement dated 27 April 2022 for full details).
  • Group comprehensive expenses of £324,333 are reported for the six months ended 31 March 2022 (£468,112 for the six months ended 31 March 2021) and net assets of £7,536,209 at 31 March 2022 (£6,442,465 at 31 March 2021).
  • A Group Operating Loss is reported for the six months ended 31 March 2022 of £552,202, compared with £403,079 for the six months ended 31 March 2021.
  • Despite the effects of the COVID-19 pandemic on the global economy, the board believes ECR is in a robust financial position and continues to provide shareholders with exposure to an exciting range of gold projects.

FINANCIAL RESULTS

For the six months ended 31 March 2022 the unaudited financial statements of the Group recorded a total comprehensive expense of £324,333.

The Group’s total assets were £7,674,007 at 31 March 2022, compared with £6,522,307 at 31 March 2021. The increase in total assets has occurred largely due to the increase in exploration assets following the capitalisation of exploration expenditure during the period as a result of the current aggressive drilling programme.

The Group held £1,204,289 of cash and cash equivalents at 31 March 2022, compared with £3,928,905 at 31 March 2021.

REVIEW OF PRINCIPAL DEVELOPMENTS DURING THE PERIOD AND SUBSEQUENTLY

The six months to 31 March 2022 and the subsequent period since have been notable as a period of great progress, sadness and change. Former CEO Craig Brown died suddenly at the end of October 2021, and while a committee including Chairman David Tang, and non-exec directors Trevor Davenport and Adam Jones continued to run the Company without interruption, the shock of his sudden loss remains with us to this day. Nonetheless he would be pleased and proud with the operational progress to date, and we believe he would be delighted with the calibre of his recently appointed successor Andrew Haythorpe.

During the period under review, Dr Trevor Davenport was appointed as an Independent Non-Executive Director. Most recently Dr Davenport consulted for Kryso Resources Plc at the time of the takeover of control of the company by China Nonferrous International Mining Co. Ltd in 2011.

In January 2022, Andrew Scott, a communications specialist and media professional was also appointed as a Non-Executive Director. Andrew is well known in the UK and across Australia as a business and markets interviewer. He has worked at Sky News UK, Reuters and Proactive as well as in presenting and media roles at ITV and Television NZ (TVNZ).

Post-period end, on 11 April 2022 Andrew Haythorpe was appointed as Chief Executive Officer (currently a non-board position). Andrew has more than 20 years of experience managing listed gold miners and explorers on the ASX and TSX as well as working as a mining analyst and actively exploring for gold as a geologist. His board experience includes the role of Managing Director at TSX and ASX-listed Crescent Gold Limited, which started with a market capitalisation of $8 million and, under his leadership, reached $250 million within four years. He was also Managing Director of ASX-listed gold producer Michelago Resources and is currently the Managing Director of GoldOz Limited, a gold company seeking to relist on the ASX. As an analyst, Andrew was considered a global leader in the Industrial Minerals sector and rated 12th best gold analyst at Hartley Poynton Ltd.

Currently, through ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd (“MGA”), the board remains focused on the fast-paced drilling programme at Bailieston and Creswick. During the period, large quantities of drill core have been amassed for technical review, processing and assay testing. Although, the impact of intermittent COVID lockdowns on the region has resulted in delays to assay results, our geologist Adam Jones and his team continue to make solid progress. In particular, the ongoing drilling campaign at Bailieston and HR3 delivered substantial progress in both gold grades and our understanding of the regional geology.

Post-period end, Ludevico Estacio, the Chairman of Philippines company Cordillera Tiger Gold Resources, Inc., (in which ECR had a 25% shareholding), agreed to sell his shares (1,499,996 in total) to ECR. The consideration of 1,499,996.00 Philippine pesos (approximately £22,000) was paid for in cash, and ECR now holds 2,333,329 Ordinary Shares in Cordillera representing 70% of its issued share capital (see announcement dated 27 April 2022 for full details of this transaction).

Creswick

At Creswick, in December MGA was notified that license EL006907 linking Creswick to Ballarat East-Nerrina had been granted. The board views this as a key step in building our understanding of the Dimocks Main Shale anomaly and developing ECR’s Creswick asset. The Company has also applied to renew Creswick licence EL006184 for another five years and is awaiting final approval. As the current incumbent, we have first rights over the licence, and our geologist Adam Jones plans to develop the project with soil sampling programmes in the vicinity of the quartz mineralisation identified in the 2021 diamond drilling campaign and to test for sub-cropping gold shoots. The Brewing Lane property at Springmount contains numerous abandoned historical gold workings with some underground exposures that offer opportunities for mapping and sampling, followed up by drilling. The team will also commence evaluation of prospects in the recently approved EL006907 area using exploration techniques that proved successful on EL006184. 

Bailieston

Notwithstanding the delays in receiving assay results, 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 near-term plans to re-enter and continue exploration on the Blue Moon prospect located on the southern extent of EL5433.  Drilling and subsequent 3D modelling of HR3 drillholes BH3DD005, BH3DD006 and BH3DD007 earlier in the year revealed a moderate south plunging fold underneath and along strike of the Maori Reef workings (see announcement dated 1 July 2022). In November 2022 we reported initial results from the first hole completed, (BH3DD009), which returned 0.7m @ 28.06g/t Au from 52.7m depth from the Maori Reef. Holes BH3DD010 and BH3DD011 reported consistent gold grades in December, while soil sampling results revealed a larger area of anomalies, supporting a dilational jog model theory developed by Adam Jones. In March 2022 further data received identified five mineralised zones, all correlated to the Maori Anticline (within the Maori Reef), plus consistent gold grades in hole BH3DD012 and visible gold in hole BH3DD034.

Post-period end, we reported the highest grade gold intercept yet at hole BH3DD027, HR3 with 0.2m @ 52.5 g/t Au from 126.3m depth. This was followed by HR3 drill hole BH3DD022, which returned a result of 0.5m @ 12.74 g/t Au (see announcements dated 22 April 2022 and 4 May 2022).

Lolworth District of North Queensland, Australia.

In February 2022, exploration licences EPM27901, EPM27902 and EPM27903 were granted to ECR’s 100% owned subsidiary LUX Exploration Limited, in the Lolworth Region, North Queensland. The area contains metamorphic rocks of the Charters Towers Province, that host large historical gold producing centres such as Charters Tower (6.6M Oz Au) and Ravenswood (>1M Oz Au). The structural and basement geology is poorly understood in the area, suggesting numerous opportunities to find new deposits. The area also contains reported rhyolitic volcanism, which plays host to intrusion-related breccia gold deposits in the region such as Mount Leyshon (>2.5M oz) and Mount Wright (>1M oz). Historic samples also highlighted tin-tungsten mineralisation in the western areas of EPM27902. Reports show no detailed follow-up work has been undertaken.

Exploration licence EL007484 in East Victoria was also granted in February 2022. This licence area is situated 50km north of Bairnsdale in the east of the state of Victoria encompassing the alluvial fields of Swifts Creek and the Mid to Upper reaches of the Tambo River.

The Directors believe exploration licence EPM27901, 27902 and 27903 offer significant potential for precious and base metal discoveries in an area of Australia where multiple large-scale discoveries have already been made.

Outlook

After a challenging transition period, the directors of ECR Minerals plc are excited about the Company’s near-term and future prospects under the leadership of Chief Executive Officer Andrew Haythorpe. As eagerly anticipated assay results begin to arrive, our board, geologists, drilling team and wider staff at the Bendigo headquarters are enthused by the possibility of developing a resource at both the Bailieston and Creswick projects. We are equally encouraged about the prospectivity demonstrated by our new licences at Lolworth Range, North Queensland and our East Victoria exploration licence at Tambo.

These factors, together with the potential to realise shareholder value from our Danglay asset in the Philippines, could result in an exciting year ahead as ECR’s operations and opportunities evolve.

FOR FURTHER INFORMATION, PLEASE CONTACT:

 

ECR Minerals plc

 

Tel: +44 (0)20 7929 1010

David Tang, Non-Executive Chairman
Andrew Haythorpe, CEO
Email:  info@ecrminerals.com
Website:  www.ecrminerals.com
WH Ireland Ltd Tel: +44 (0)207 220 1666
Nominated Adviser
Katy Mitchell/Andrew de Andrade
SI Capital Tel: +44 (0)1483 413500
Broker
Nick Emerson
 
Novum Securities Tel: +44 (0)20 7399 9425
Broker
Jon Belliss
BlytheRay 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 one licence application lodged in eastern Victoria. (Tambo gold project). MGA is currently drilling at both the Bailieston (EL5433) and Creswick (EL6148) projects and has an experienced exploration team with significant local knowledge in the Victoria Goldfields and wider region.

https://mercatorgold.com.au/

ECR also owns 100% of an Australian subsidiary LUX Exploration Pty Ltd (“LUX”) which has three licence applications covering 900 km2 covering a relatively unexplored area in Queensland, Australia.

https://luxexploration.com/

Following the sale of the Avoca, Moormbool and Timor gold projects in Victoria, Australia to Fosterville South Exploration Ltd (TSX-V: FSX) and the subsequent spin-out of the Avoca and Timor projects to Leviathan Gold Ltd (TSX-V: LVX), Mercator Gold Australia Pty Limited has the right to receive up to A$2 million in payments subject to future resource estimation or production from projects sold to Fosterville South Exploration Limited.

ECR holds a 70% interest in the Danglay gold project; an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines, which has a 43-101 compliant resource. ECR also holds a royalty on the SLM gold project in La Rioja Province, Argentina and can potentially receive up to US$2.7 million in aggregate across all licences.

Link here to view the financial statements 

ECR Minerals #ECR – Proactive interview with Adam Jones:

ECR Minerals director and chief geologist Adam Jones discusses the latest results from its Creswick exploration project in Victoria, Australia. The company says the nature of the assets’ mineralisation has provided a solid platform of data that fully justifies its decision to progress Creswick and EL006184 to the next phase of exploration. Jones adds that the board and exploration team are excited by the potential at the recently awarded license area at EL006907 which is adjacent to Creswick.

ECR Minerals #ECR – Placing of shares to raise £2m, acceleration & expansion of drilling campaign

ECR Minerals plc (LON: ECR), the gold exploration and development company focussed on Australia, is pleased to announce the placing of 90,909,091 new ordinary shares of 0.001p at a Placing price of 2.2p per share to raise gross proceeds of £2,000,000.

The net proceeds of the Placing, which is conditional on admission of the Placing Shares to trading on AIM, will be used to ramp-up drilling and exploration activities on ECR’s 100%-owned gold exploration projects in Victoria, Australia and for working capital purposes. The Placing was arranged by the Company’s joint-broker Novum Securities.

Drilling with the Company’s own diamond drill rig is continuing in the HR3 area of the Bailieston gold project in Victoria. Five drill holes have been completed, and a sixth hole is in progress. ECR expects to be in a position to report assay results from initial holes later this month. Visible gold has been noted in the hole first drilled at the Byron prospect (see announcement dated 12 February 2021).

Placees will receive one warrant for every two Placing Shares and accordingly, subject to the Placing completing, 45,454,545 Warrants will be issued by the Company. Each Warrant permits the holder to subscribe for one new ordinary share in ECR Minerals plc at a price of 3.75p for a period of 24 months from the date of Admission. If all the Warrants were to be exercised, this would generate proceeds of approximately £1.7 million for the Company, although there can be no guarantee that this would occur.

Craig Brown, Chief Executive Officer, commented:

“We are delighted by the tremendous show of support for ECR from investors in the placing announced today. We believe this reflects both the high degree of market interest in Victorian gold projects generally, and ECR’s success in assembling a highly prospective portfolio of projects and establishing an in-house drilling capability which is being put to full use.

The net proceeds of the placing announced today will take the Company’s cash position to in excess of £5.8 million and, in addition to funding a modest expansion of our operational capabilities at our Bendigo HQ in Central Victoria, will enable ECR to drive hard towards its twin targets of establishing a maiden JORC compliant gold resource at the Bailieston project and completing further drilling at the Creswick project. The funds raised will also provide ECR with the financial flexibility to consider potential new opportunities as they arise. We are now fully funded for these programmes and don’t envisage requiring additional equity financing for quite some time.”

ADMISSION OF NEW SHARES AND TOTAL VOTING RIGHTS

Admission of the Placing Shares to trading on AIM is expected to occur on or around 30 April 2021. Following admission, ECR’s issued ordinary share capital will comprise 985,528,390 ordinary shares of 0.001p. This number will represent the total voting rights in the Company, and, following admission of the Placing Shares, may be used by shareholders as the denominator for the calculation by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority’s Disclosure and Transparency Rules. The new shares will rank pari passu in all respects with the ordinary shares of the Company currently traded on AIM.

MARKET ABUSE REGULATION

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (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.

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)207 220 1666

Nominated Adviser

Katy Mitchell and James Sinclair-Ford

Novum Securities Limited

Broker

Jon Belliss

Tel: +44 (0)20 7399 9425

SI Capital Ltd

Tel: +44 (0)1483 413500

Broker

Nick Emerson

ABOUT ECR MINERALS PLC

ECR is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd has 100% ownership of the Bailieston and Creswick gold projects in central Victoria, Australia. ECR is currently drilling high priority targets on the Bailieston gold project using the Company’s own diamond drill rig. ECR has an experienced exploration team with significant local knowledge in the Victoria Goldfields.

Following the sale of the Avoca, Moormbool and Timor gold projects in Victoria, Australia to Fosterville South Exploration Ltd (TSX-V: FSX), ECR has the right to receive up to A$2 million in payments subject to future resource estimation or production at 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.

ECR Minerals (ECR) Creswick Gold – Resource Geologist Appointment

ECR Minerals plc (LON:ECR), the precious metals exploration and development company, is pleased to announce the appointment of Keith Whitehouse, of Australian Exploration Field Services Pty Limited, as a consultant resource geologist to the Company.

Mr Whitehouse holds a BSc Geology from the Victoria University of Wellington and has over 40 years’ experience in the provision of technical services to the resources industry with an emphasis on resource modelling, JORC and NI 43-101 reporting, business development, data management and associated IT solutions.

With extensive experience of Victoria exploration, and resource modelling, and as a former Chair and current committee member of the Central Victoria branch of AusIMM, Mr Whitehouse brings valuable skills and capabilities to complement the ECR technical team.

Craig Brown, Chief Executive Officer commented: “I am delighted to announce the appointment of Keith Whitehouse as an adviser to the Company. Keith’s knowledge and experience will be applied immediately with regard to our ongoing work at Creswick, where we are seeking to quantify gold mineralisation in a manner that, if applicable, can be embodied within a JORC compliant resource.

In addition Keith’s skills will be of further value in respect of other projects in our Victorian portfolio, especially those where knowledge and experience relevant to resource modelling in a nuggetty environment are required.”

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

Katy Mitchell/James Sinclair-Ford

SI Capital Ltd

Tel: +44 (0)1483 413500

Broker

Nick Emerson

ABOUT ECR MINERALS PLC

ECR is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Limited has 100% ownership of the Avoca, Bailieston, Creswick, Moormbool and Timor gold exploration licences in central Victoria, Australia and the Windidda Gold Project in the Yilgarn Region, Western Australia.

ECR has earned a 25% interest in the Danglay epithermal gold project, an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines. An NI43-101 technical report was completed in respect of the Danglay project in December 2015 and is available for download from ECR’s website.

ECR’s wholly owned Argentine subsidiary Ochre Mining has 100% ownership of the SLM gold project in La Rioja, Argentina. Exploration at SLM has focused on identifying small tonnage mesothermal gold deposits which may be suitable for relatively near-term production.

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