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ECR Minerals plc (LON:ECR) the precious metals exploration and development company is pleased to provide an update regarding due diligence work being undertaken by the Company in respect of the Iceberg Gold Project, Western Australia.
On 3 August 2018 the Company announced an Option Agreement in respect of the Iceberg Gold Project.
The original Option Agreement provided a 60 day option period during which due diligence work could be undertaken. ECR have appointed CSA Global, Mining Industry Consultants, to conduct a thorough review of the project and its underlying documentation.
Recognising the substantial historical project data supplied by the vendors, for which the Company is grateful, both parties have agreed to extend the Option period by 30 days at no additional cost to allow a thorough review of the information supplied to be undertaken.
ECR is working well with the vendors, Pacific Trends Resources Pty Limited and anticipate the due diligence work of the Company, and its advisors, will be completed during the coming weeks.
FOR FURTHER INFORMATION, PLEASE CONTACT:
|ECR Minerals plc||Tel: +44 (0)20 7929 1010|
|David Tang, Non-Executive Chairman|
|Craig Brown, Director & CEO|
|WH Ireland Ltd||Tel: +44 (0)161 832 2174|
|Katy Mitchell/James Sinclair-Ford|
|Optiva Securities Ltd||Tel: +44 (0)203 137 1902|
|SI Capital Ltd||Tel: +44 (0)1483 413500|
FORWARD LOOKING STATEMENTS
This announcement may include forward looking statements. Such statements may be subject to numerous known and unknown risks, uncertainties and other factors that could cause actual results or events to differ materially from current expectations. There can be no assurance that such statements will prove to be accurate and therefore actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking statements. Any forward-looking statements contained herein speak only as of the date hereof (unless stated otherwise) and, except as may be required by applicable laws or regulations (including the AIM Rules for Companies), the Company disclaims any obligation to update or modify such forward-looking statements because of new information, future events or for any other reason.
ABOUT ECR MINERALS PLC
ECR is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia has 100% ownership of the Avoca, Bailieston, Creswick, Moormbool and Timor gold exploration licences in central Victoria, 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.