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ECR Minerals #ECR – Technical Director Adam Jones discusses todays update from HR3

Alan Green talks to ECR Technical Director Adam Jones to bring us up to date on the latest drilling developments announced today at the HR3 prospect at Bailieston, situated to the east of the hugely successful Fosterville Gold mine. Adam discussed the mineralised corridor identified with the assay results from Hole BH3DD032, a result the team have been waiting for since May. He explains how the assay results are building a collective picture of the corridors of mineralisation around the Maori Anticline, and looks at next steps for the Bailieston asset. We then discuss the recent sale of the Bassett Road property to take advantage of high property prices in the region, the and how the $950,000 raised from the sale will be deployed. We then look at the work currently underway at Creswick and upcoming activities on Blue Moon and Queensland assets.

ECR Minerals #ECR – Technical Director Adam Jones Updates on Bumper Grades in Hole 34

Technical Director Adam Jones discusses the bumper gold grades in hole BH3DD034 at HR3, Bailieston. Adam talks through the gold grades discovered at different levels in zones 1-4, and outlines his conclusions for the collective data picture across the Maori Reef and Hard Up Reef. Alan asks whether there is a case for developing a mine on ECR’s land at Nagambie-Rushworth, and Adam discusses the the likely activities across the region. We then look at further developments at Creswick, technical target follow-ups and soil samples, before Adam outlines upcoming activities over the next few months, including drill rig movements, Blue Moon etc.

ECR Minerals #ECR – Andrew Scott talks to Andrew Haythorpe

ECR Minerals CEO Andrew Haythorpe talks to Andrew Scott. Andrew discusses the reasons behind the appointment of Adam Jones – his technical knowledge and attention to detail which has resulted in some science based breakthroughs. Andrew says the board are looking at projects wider afield, and discusses the Danglay gold project in the Philippines before returning to Bailieston and the challenges created by the COVID driven assay delays. Andrew looks at Blue Moon, where there are good grades over 2m and a strong antimony association. The drill collars have all been planned by Adam, now awaiting drilling permissions. Andrew then looks at Lolworth, where access agreements have been made with landowners, and with field crews all set they could be ready to go in 6-8 weeks. Andrew looks at the Queensland structure, a multiple host environment, including large porphyry / breccia structures similar to Mt Leyshon & Kitston, plus epithermal veins (similar to Hemlo in Canada) and the historic Charters Towers mine. He concludes with the value opportunity – a great believer in Warren Buffet’s philosophy – why now – GARP – Growth at the Right Price – lots of growth opportunity, good commercial business and jv opportunities with neighbours.

ECR Minerals #ECR – Adam Jones talks to Alan Green

ECR Minerals #ECR interview – Adam Jones talks to Alan Green. We discuss Adam’s site visit to Bailieston and Creswick with new CEO Andrew Haythorpe, before looking at plans to get boots on the ground at the recently awarded Lolworth Range license areas in N Queensland. Adam then discusses the latest developments at Creswick, including recently released LIDAR imagery, and we then look at the recent gold intercepts and developments through drilling at Bailieston, HR3 and the Maori Anticline. Adam talks through the correlation between stibnite and gold, before summarising upcoming developments and delayed assay results.

ECR Minerals #ECR – CEO Andrew Haythorpe talks to Andrew Scott

Andrew Haythorpe talks to Andrew Scott in his first interview since taking the helm as CEO. Andrew gives his first impressions of Bailieston and Creswick following a site visit with geologist Adam Jones. He discusses the infrastructure, his own ideas for developing the business and the potential he sees in the company.

ECR Minerals #ECR – Result of AGM and Second Drill Rig

At the AGM held earlier today all resolutions were duly approved.

In addition, at the meeting the Company provided an update on the delivery of the second drill rig which the Company had confirmed it had purchased in the announcement on the 27th July 2021. The Directors confirmed there were delays in delivery from China due to high shipping costs and availability, but the Directors expect to have it on site and in use by the end of the summer.

Adam Jones, leading Geologist for ECR’s Victorian projects stated:The use of the second multi-purpose drill rig will be crucial for follow up drilling at projects such as Creswick. We can quickly switch between RC drilling (for bulk-samples and grade) and diamond core (for confirmation of structures) as needed.”

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

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 – LIDAR imagery outlines the extent of historic gold workings at Creswick

ECR Minerals #ECR – LIDAR imagery outlines the extent of historic gold workings at Creswick.

  • ‘A’ Historic workings within & surrounding ECR’s Brewing Lane property
  • ‘B’ Example of geochemical targeting; upper extents of known alluvial workings & with no apparent found gold sources.

ECR Minerals #ECR – Drilling the Victoria Goldfields | March 2022

ECR Minerals #ECR – Head Geologist Adam Jones talks to Alan Green about the latest developments from the company’s Lolworth Range, Creswick and Bailieston gold assets in Australia. Adam discusses plans to get on the ground at Lolworth later in 2022, before we look at the most recent assay results and license awards at Creswick. Adam lays out plans for exploration and drilling at Creswick in the coming year. We then discuss assays for hole BH3DD019 at HR3, the deepest hole drilled under the north end of the Maori Anticline which identified four mineralised zones, some of which correlate with nearby deposits at Costerfield, Nagambie and Whroo mines. Adam then talks through the gold grades in hole BH3DD012 and how he arrived on site as the drillers were washing the core and saw the visible gold sample in core from hole BH3DD034. We then look at drilling plans for the Blue Moon prospect this June, on working farm sites which the company now has access to, before turning to the search for a new CEO, and the shortlist the company now has. Finally Adam summarises upcoming events for the next few months.

ECR Minerals #ECR – Director Adam Jones Discusses The Latest Drilling Updates with Alan Green

Head Geologist & Director Adam Jones discusses the latest drilling updates with Alan Green. We look at the new license area EL006907 sited between the Ballarat East-Nerrina goldfield and the current Creswick exploration licence area. Adam also covers the new license at the Tambo area, and some recent work he has undertaken to understand the opportunity. We then move to the pre Christmas updates at Bailieston HR3, where results from holes BH3DD010 and BH3DD011 have “exponentially grown the understanding of the Maori Anticline.” Adam explains the ‘dilation jog’ model, the soil anomalies and the implications for HR3 with the data now acquired. We the look at the properties acquired at Bailieston, Creswick and Sebastian, the ‘skyrocketing’ property values there and how they will contribute in 2022, along with the near term assay schedule and milestones, (including progress at Blue Moon) for investors to look out for.

ECR Minerals #ECR – Property Purchase in Central Victorian Goldfields, Australia

Central Victorian Goldfields Property Purchase to Provide Accommodation, Potential Site for New Core Shed, Storage and Workshop Facilities, and additional Exploration Opportunity

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 concluded the purchase of a property at 177 Bassett Road, Sebastian (the “Property”). The Property is located approx. 12.5 miles north of Bendigo (11 miles from current core shed location) and is located within easy reach of ECR’s 100% owned Bailieston and Creswick license areas.

Highlights:

  • Accommodation with five bedrooms and three living rooms plus an office currently, with plans to convert into seven bedrooms and two living rooms. The Bassett Road property will save ECR a substantial amount in annual hotel accommodation and commercial property rental costs, providing convenient co-location of employees and consequentially a substantial reduction in travel time and expenses.
  • Bassett Road is positioned on approx. 59 acres of farming land, with ability to construct additional buildings on the land subject to planning approval.
  • The potential exists to develop and construct a geological core processing facility with sample storage shed, drilling supplies warehouse and mechanical workshop on the land, subject to local council planning approval being granted.
  • Currently connected to the mains power supply with an additional 3kW Solar system with batteries and 3kW wind turbine, the property can be powered “off grid” as it has been for the past 10 years, along with an independent water supply connection.
  • The purchase price of the property is A$887,500, has been settled in full. The purchase has been funded by the Company’s existing cash resources. As at the close of business on 17 September 2021 the Group had £3,400,000 (USD equivalent $4,650,000) in the bank after paying the full settlement for the property.
  • Quartz is visible at sites across the 59 acres of the Property. As gold in Australia can be contained in quartz the Company is looking to obtain an exploration licence over the Property.

Craig Brown, Chief Executive Officer commented: I am pleased to announce ECR’s third property acquisition in the Victoria Goldfields. As we maintain our aggressive drilling campaigns at Bailieston and Creswick, our profile in Victoria is growing rapidly. The Bassett Road property and land acquisition marks the next step along the road, cutting out our mounting monthly accommodation and property rental costs, and bringing our Bendigo storage and core logging activities all onto one site. Added to this, regional property market data indicates that the Victoria property market should see our properties and land at Bassett Road, Nagambie-Rushworth Road and Brewing Lane grow in value in the coming months and years. Furthermore, within the 59 acres of the property, there is visible evidence of quartz which could also indicate potential for gold. With this positive indication, we have been in discussions to obtain the exploration licence over the property.”

“In addition, mining companies are often receiving negative press for their lack of ‘green’ credentials, so the opportunity to run the Bassett Lane property and site wholly ‘off grid’ with our own solar and wind turbine power marks a small step for ECR along the road to reducing our carbon footprint.”

Rationale for Purchase of 177 Bassett Road, Sebastian

As ECR continues its aggressive drilling campaigns at its 100% owned Bailieston and Creswick licence areas, the costs of hiring and accommodating employees is growing exponentially. Since drilling with the Midas rig kicked off at Bailieston in January 2021, we have seen our monthly accommodation expenses increase substantially, on top of the considerable monthly outlay for renting the core logging premises at Bendigo. Given this backdrop, the ECR Board (“Board”) took the decision to seek a fixed cost alternative, with the potential to create accommodation, core logging and processing and storage all in one location.

The Property was shortlisted against a number of properties conveniently located around Bendigo and following due consideration the decision was taken to purchase 177 Bassett Road. The Property is positioned on approx. 59 acres of farming land, currently with the potential to sleep at least seven people. The property enjoys an independent water supply connection, with connection to the mains power supply plus an additional 3kW Solar system with batteries and 3kW wind turbine. As such the property has the ability to run “off the grid” (power) as it has for the last 10 years. Most significantly, the Property comes with approx. 59 acres of farming land, of which 50 acres has been used for sharecropping, a system where the landlord allows a tenant to use the land in exchange for a share of the crop. The land offers ample scope to construct buildings for a geological core processing facility with sample storage shed, drilling supplies warehouse and mechanical workshop.

The Commonwealth Bank of Australia (“CBA”), Australia’s biggest housing lender, published its full year results in February 2021 and forecast property prices would rise by 8 per cent in 2021 and 6 per cent in 2022, with house prices to rise 16 per cent in that time and unit prices by 9 per cent. Whilst there can be no guarantee as to the performance of the property market in Australia, in making the purchase, the Board has given due consideration to the prevailing property market, including the data published by CBA*.

*Commonwealth Bank of Australia statistics (February 2021)

The vendors are a private family who have been using the Property for residential purposes.

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://luxeploration.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.

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