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ECR Minerals #ECR – COO Mike Whitlow discusses the work at Blue Mountain, and provides a general operational update
ECR Minerals #ECR COO Mike Whitlow discusses the work at Blue Mountain, and provides a general operational update with Alan Green. Mike provides an update on work undertaken so far in 2024, before we discuss the trenching work at Blue Mountain, the relationship with the landowner, the gold resource identified by previous owners BlueKebble. We then look at the next steps at Blue Mountain, before Mike provides an update on the financial position, company assets and potential tax credits.
ECR Minerals #ECR – Interview with Chief Geologist Adam Jones
ECR Minerals’ (LON: ECR) chief geologist Adam Jones gives an update following release of the final bulk sampling results from the company’s reverse circulation drilling programme at the Kuboid Hill site in Creswick earlier this year. Bulk sampling of drilled material highlighted high-grade pockets of gold within the broader scale mineralisation footprint. Jones also looks ahead to forthcoming plans in Queensland.
ECR Minerals #ECR COO Mike Whitlow provides a comprehensive operational update
ECR Minerals is busy wrapping up the previous drilling campaign, with encouraging results including high-grade findings at Davey Road and broader mineralization at Kuboid Hill. The company is revisiting Baillieston to renew licenses and explore historical data for antimony, recognizing the increasing global interest in this mineral. COO Mike Whitlow provides a full operational update.
ECR Minerals #ECR – CEO Nick Tulloch talks to Andrew Scott
Kuboid Hill results Davey Road results Funded for work programmes in Victoria & Queensland Tambo next up Blue Mountain Tax losses & cash managementECR Minerals #ECR COO Mike Whitlow talks to Stockbox
ECR Minerals Begin to Demonstrate the Scale of the Gold Mineralisation at Creswick. COO Mike Whitlow talks to Stockbox.
➡️ The COO emphasizes the importance of demonstrating extensive mineralization over narrow, high-grade shoots as revealed by recent drilling results, marking a significant breakthrough for ECR Minerals in the Creswick area.
➡️Discussion revolves around the potential for small-scale commercial operations based on obtained results, with plans to prove this potential through bulk sampling of anomalous and broad mineralization zones.
➡️Mike stresses the importance of delivering tangible results rather than speculative promises, highlighting the company’s commitment to working hard, ramping up activities, and enhancing shareholder value through strategic planning and asset management.
ECR Minerals #ECR MD Nick Tulloch on his trip to Victoria
ECR Minerals #ECR MD Nick Tulloch discusses his trip to Victoria with Andrew Scott. He covers the site trips with Adam Jones to the Company’s key projects, and the opportunities identified.
ECR Minerals #ECR – Creswick Drilling Campaign, Andrew Scott talks to Adam Jones
ECR Minerals Technical Director Adam Jones talks to Andrew Scott about Creswick campaign progress at the Davey Road prospect and how the team are refining the approach to prospecting in the region
- Quartz seen between 30-60m
- A gold shoot is believed to be located at a knoll at the Davey Road prospect
- Drilling into the shoot will help to work out the distribution of the gold grades and the estimated location of the main quartz trend and spur veins
- An estimated 50m of strike at the Kuboid Hill prospect
ECR Minerals #ECR – Stockbox Media interview with MD Nick Tulloch
Stockbox interview with ECR Minerals #ECR MD Nick Tulloch. Alan Green and Nick discuss the show, the events of the past few months and the upcoming drilling campaign at Creswick. Click on the image to watch.
ECR Minerals #ECR – Interview – Back to Victoria
ECR Minerals #ECR – Interview – Back to Victoria. Andrew Scott talks to Nick Tulloch and Adam Jones about the rationale behind the return to drilling activities at Victoria following the exceptional drilling results fromSouthern Cross Gold (ASX: #SXG) at the Sunday Creek project & restart of work by Falcon Metals Ltd (ASX: #FAL) north of Bendigo Adam is speaking live from Kuboid Hill at Creswick
ECR Minerals #ECR – Update on drilling plans & Extension of Directors Share Agreements
ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce its intention to return to drilling in Victoria by the end of the year alongside an extension of the directors’ salary sacrifice scheme.
Drilling plans
Since their arrival in September 2023, the new management team of ECR have been examining the Company’s properties, including looking at ECR’s own historic data as well as the results of previous and current exploration activity in the locality. Supported by professional advisers, the management team have conducted a thorough review of all information available, alongside an assessment of practical exploration objectives, in determining the Company’s forthcoming plans.
The Board as a whole has also been encouraged by the recent activity in Victoria, particularly the drilling intercepts by ASX listed Southern Cross Gold Ltd (ASX: SXG) at its Sunday Creek project and the recommencement of exploration to the north of Bendigo by ASX listed Falcon Metals Ltd. (ASX: FAL). With ECR’s infield work programme advancing into the progressive planning and development phase, the Board considers that this is the right time to re-evaluate ECR’s gold assets at Creswick and Bailieston for the Australian summer field season. Drilling permissions have been approved by the relevant governmental authorities and the Board is currently negotiating contracts and pricing with a local drilling company with a target of commencing before the Christmas holiday period. Importantly, any drilling undertaken will be funded from the Company’s existing cash resources.
Salary sacrifice
At the time of the fundraising announced in September 2023, four members of the board of directors, David Tang, Andrew Scott, Adam Jones and Trevor Davenport, agreed to subscribe for new ordinary shares in ECR (“New Ordinary Shares”) in lieu of an aggregate of £40,000 salary (£10,000 each), thereby further preserving the Company’s cash resources. These directors have agreed to extend this arrangement by subscribing for a further £40,000 (£10,000 each) of New Ordinary Shares in aggregate for the period up to 31 March 2024.
These New Ordinary Shares will be issued on or around 31 March 2024, with admission to trading commencing on or around 1 April 2024. The number of the New Ordinary Shares to be issued will be calculated by reference to (i) the price at which an equity fundraising in the Company is carried out in the period of the salary sacrifice or (ii) if there is no fundraising, the price equal to the volume weighted average price of ordinary shares in the Company calculated over the previous 14 days, provided always that the minimum ordinary share price that shall apply is 0.175 pence. In each case, the issue of these New Ordinary Shares is conditional on the relevant person being a director of the Company. A further announcement will be made at that time.
Nick Tulloch and Mike Whitlow are already remunerated substantially by the issue of New Ordinary Shares as announced on 18 September 2023.
ECR Chief Operations Officer Mike Whitlow commented: “The latest positive news within our postcode speaks for itself. We take great encouragement from the recent announcements reported by our peers and we believe that ECR has sufficient upside opportunities in Victoria to warrant a return to drilling. We will provide further details in the coming weeks as we finalise our plans.
“I am also pleased that our strategy is being further supported by members of the board who are continuing our ethos of aligning themselves with our shareholders and conserving the Company’s cash resources.”
Interview
Watch our Back to Victoria interview with Nick Tulloch and Adam Jones at the link below:
Non-Regulatory Announcement
FOR FURTHER INFORMATION, PLEASE CONTACT:
| ECR Minerals plc | Tel: +44 (0) 20 7929 1010 | |||
| David Tang, Non-Executive Chairman
Nick Tulloch, Managing Director Andrew Scott, Director |
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| Email: | ||||
| Website: www.ecrminerals.com | ||||
| SI Capital Ltd | Tel: +44 (0) 1483 413500 | |||
| Broker | ||||
| Nick Emerson | ||||
| Novum Securities Limited | Tel: +44 (0) 20 7399 9425 | |||
| Broker
Jon Belliss |
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| 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 eight active exploration tenements and two in application (Ballarat and Tambo).
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 Lolworth Range, Queensland, Australia. The Company has also submitted a license application at Kondaparinga which is approximately 120km2 in area and located within the Hodgkinson Gold Province, 80km NW of Mareeba, North Queensland.
Following the sale of the Avoca, Moormbool and Timor gold projects in Victoria, Australia to Fosterville South Exploration Ltd (TSX-V: FSX) and the subsequent spin-out of the Avoca and Timor projects to Leviathan Gold Ltd (TSX-V: LVX), 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.