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ECR Minerals #ECR – Potential for Rare Earth Minerals at the Lolworth Range Project, Queensland

ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce that investigations into the previous 2022 field season stream geochemistry results of the Lolworth Project, Queensland are showing potential for the presence of rare earth elements within the project area.

ECR Minerals plc has 100% ownership of three exploration tenements (EPM27901, EPM27902 and EPM27903), which covers the Lolworth Range, located 120km west of the famous gold district of Charters Towers. The project is being explored under ECR’s Australian wholly owned subsidiary Lux Exploration Pty Ltd (“LUX”).

HIGHLIGHTS

  • A selected number of pan concentrate stream sediment samples from the 2022 field season are highly anomalous for Rare Earth Elements (REE), including Cesium (Ce), Lanthalum (La) and Yttrium (Y).
  • The top ten values include anomaly readings such as (Ce greater than 6000 ppm (0.6%), (La greater than 2760 ppm) and (Y greater than 530 ppm)
  • The top anomalous values of Ce, La and Y spatially correlate to a north east trend across the project with some of the best values coinciding with previously mapped intrusive centres.
  • The Lolworth Project is showing a diverse range of exploration targets for Gold, Niobium-Tantalum and REE.
  • Field work following up these targets is well underway.

CEO Andrew Haythorpe commented: “ECR’s Lolworth project is continuing to exceed our early expectations, and along with Gold, Niobium and Tantalum, the presence of key Rare Earth Elements adds yet another dimension to the scope and diversity of mineralisation in this region.”

“The mounting anecdotal evidence and volume of positive results continues to support the Board’s view that Lolworth could be host to significant Gold, Niobium, Tantalum and REE discoveries. I look forward to reporting the sample results from the latest fieldwork back to the markets as soon as possible”

(Figure 1) Map of the Lolworth Project showing the distribution of Ce, Y and La from pan concentrate sampling to date (May 2023) can be found here:

Figure 1: https://www.ecrminerals.com/images/2023/Fig1_REE_Potential_230524.png

RARE EARTH ELEMENTS

REE’s (Rare Earth Elements) are a group of 17 elements from the periodic table. While they are abundant within the Earth’s crust, discoveries of sufficient concentration of REE’s s to constitute an economically viable deposit are rare, with few currently mined sources in the western world. The most abundant REEs include Cerium (Ce), Neodymium (Nd) and Lanthanum (La). REEs, and these are becoming increasingly sought after as a result of their increased use in ‘green’ related technologies such as batteries, magnets in electrical motors, catalytic convertors and aircraft alloys.

REE RESULTS IN STREAM SAMPLING TO DATE

All pan concentrate stream sampling to date at Lolworth has been analysed using a four-acid digest that is aggressive in digesting most elements. A total of 33 elements including Gold have been analysed since sampling began in mid-2022, and to date ECR has detected Gold, Niobium and Tantalum from within the streams draining the Lolworth Range. Exceptional concentrations of Niobium and Tantalum have been recorded in streams draining a 10km long ridgeline just north of Gorge Creek. Previous announcements regarding these results can be found in ECR’s RNS from February 1 2023 here, and RNS from April 3 2023 here

Although the Company has not specifically analysed all stream samples for REEs, Cesium (Ce), Lanthalum (La) and Yttrium (Y) have been included as part of the 33 elements analysed. Results to date show high values of Ce, La and Y, all of which have been tabulated in Table One below. In summary, ten samples are greater than 0.6% in (Ce), over ten samples are greater than 2760 ppm in (La) and over ten samples are greater than 530 ppm in (Y).

REE CORRELATION BETWEEN NB-TA AND MAPPED INTRUSIVE CENTRES

It is important to note that a number of the high Ce, La and Y results spatially correlate and group together well (see Figure One above). The highest concentrations of these REEs trend in a north-east pattern across the project area, and while the reason for this geochemical trend has yet to be determined, it is hoped that the on-site geological mapping and sampling currently underway in the area will be able to provide some answers. Niobium and Tantalum (Nb-Ta) anomalies highlighted in previous announcements also correlate to some of the best REE results within the same region.

Although the Geological Survey of Queensland previously identified two intrusive areas of interest within the tenements (see Figure One above), the Lolworth Project area has not yet been mapped in detail. While the boundaries of these intrusives and their mineralogy has yet to be established, the Board is greatly encouraged by the fact that the highest concentrations of Niobium and Tantalum (including some of the REEs) are associated with these mapped intrusives. In particular a large intrusive identified by historic aerial mapping located in the extreme south-east of tenement EPM 27903 has been prioritised for exploration by the Board, and a number of sampling campaigns have been planned within this area to identify its potential for Gold, Nb-Ta and REEs.

NEXT STEPS

Pan concentrate stream sampling has been well underway for the last two weeks. Numerous follow-up samples have been taken around and to the north of the 10km Nb-Ta anomalous ridgeline, and these along with a number of additional soil samples scheduled for collection from the best anomalous ridgelines will be submitted for laboratory analysis. ECR’s Technical Director Adam Jones will be on the ground for the next two weeks to map and sample the areas showing the best anomalies to date. The Board look forward to reporting these results back to shareholders in the coming months.

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:

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

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 – CEO Andrew Haythorpe discusses exploration progress at Queensland & Victoria

ECR CEO Andrew Haythorpe discusses the latest exploration progress at Victoria and the transition to Queensland. Andrew discusses the potential he sees at Lolworth, with 30 different gold occurrences plus niobium and tantalum already at such an early phase. He then looks at the Hurricane project, and how the gold in veins at surface are consistently 1-5m thick (one was 60m thick), which leads to a consistent 1-5 g/t at surface, and the most recent project acquisition, the Blue Mountain project where there is a lot of alluvial gold. Andrew then covers how low cost work programmes including geophysics and geochemistry, RC drilling keep the costs down and will identify the biggest and best anomalies. On funding, there are plans for further asset sales, and he confirms ECR are fully funded for all QLD and Victoria exploration this year. In summary, Andrew believes the chances of pinning down a major find in Queensland is much better. ECR has the right people and right geology, plus there could be some major players keen on partnering in Queensland.

ECR Minerals #ECR – CEO Andrew Haythorpe talks through Blue Mountain and other projects

ECR Minerals #ECR – CEO Andrew Haythorpe talks through Blue Mountain and other projects with Andrew Scott. The Blue Mountain project represents a wonderful opportunity in an accessible part of Queensland. With impressive recoveries there by previous operators, the project compliments other Queensland projects from a logistical. standpoint. Andrew also discusses Lolworth, and how the team are very keen to get back to discover the primary source for Nb Ta Li and Au before looking at the drill campaign at Creswick and the drill ready targets at Hurricane. Andrew the looks at his ongoing role as CEO and how ECR is a well funded company, although he reminds us that every overnight success takes a few years to generate!

ECR Minerals #ECR – Final Niobium and Tantalum Stream Results Extend Anomalous Footprint at Lolworth Range Project, Queensland

ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce the final Niobium and Tantalum results from the stream sampling campaign at the Lolworth Range project, North Queensland, Australia.

ECR, through its wholly owned subsidiary, has 100% ownership of three exploration tenements (EPM27901, EPM27902 and EPM27903), which covers the Lolworth Range, located 120km west of the famous gold district of Charters Towers. The project is being explored under ECR’s Australian wholly owned subsidiary Lux Exploration Pty Ltd (“LUX”).

HIGHLIGHTS

  • 76 Lithium, Niobium and Tantalum (Li-Nb-Ta) results from the final batch of pan concentrate stream sediment samples now received.
  • Best results include Niobium up to 894 ppm and Tantalum up to 290 ppm.
  • These new results extend the anomalous Nb-Ta drainages 10km further west of the previously announced high Nb-Ta results (see announcement from Feb 1 2023 here).
  • Approximately 50 square kilometres of the Lolworth Project now showing signs of hosting a potential Li-Nb-Ta hardrock source.

ECR CEO Andrew Haythorpe commented: “Although ECR Minerals is currently in an early exploration phase at Lolworth, it is nonetheless gratifying to see the project take a significant step forward on the back of an extension to the potential drainage sources for Niobium and Tantalum. To already have a 50 sq km area indicating a potential combined resource for Lithium, Niobium and Tantalum at this phase of exploration is an exciting development by any standard. Whilst still at an early stage, these results together with the gold anomalies reported last week (see announcement from Feb 23 2023 here), adds further credence to the Board’s view that the Lolworth Project has great potential to develop into a multi mineral flagship project for the Company.”

“I look forward to reporting back on further developments.”

Summary plan of all anomalous Niobium and Tantalum areas identified from the 2022 stream sampling campaign at the Lolworth Project are shown in Figure 1 below:

Figure 1: https://www.ecrminerals.com/images/2023/Fig1_230331_Ta-Nb-Update.png

FINAL Li-Ta-Nb RESULTS

The last remaining multi-element results from the pan concentrate stream sampling campaign completed at the end of 2022 have now been received. Previous results have identified that several streams within the Lolworth Project are host to anomalous Gold, Lithium, Tantalum and Niobium, with Li-Ta-Nb sample results indicating that a 10km north-south ridgeline north of Gorge Creek is close to the possible source rocks. Details of this work are shown in Figure One above.

The final results are anomalous in Ta and Nb with over 10 of the 76 results greater than 300 ppm in Niobium and 9 greater than 150ppm in Tantalum. Although there were no traces of anomalous Lithium in these results, we have extended the search for potential host rocks for Ta-Nb to the centre of EPM27902.

NEXT STEPS

The 2023 field work campaign is anticipated to start next month (May 2023). The Board has already identified key areas to follow-up from last season’s work, targeting the sources for the gold anomalies, along with lithium, tantalum and niobium. Initial work will focus on soil sampling and rock chipping outcrops over the 10km north-south ridgeline where the most promising Ta-Nb source streams drain from. Pegmatites are known sources for Li-Ta and Nb and these are known to outcrop throughout the area.

The Board is enthused by the possibilities and nascent potential that is believed to exist at Lolworth. While our license tenements there represent virgin territory for lithium, tantalum and niobium exploration, given what has already been identified at such an early phase of exploration, we believe the Lolworth Project has great potential as a future, multi mineral flagship project for the Company.

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:

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

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.

APPENDIX ONE

TABLE ONE: All Li-Ni-Ta results from the remaining 76 stream samples, Lolworth Range Project. (Locations reported as GDA94-Zone 55 grid).

SAMPLEID EASTING NORTHING Lithium (ppm) Niobium (ppm) Tantalum (ppm)
LWSS152 314342 7749643 10 26 10
LWSS201 311180 7748656 30 9 10
LWSS202 310602 7749015 30 20 10
LWSS203 311113 7748916 20 6 10
LWSS301 313505 7752290 10 27 10
LWSS305 313302 7754719 10 110 20
LWSS307 313709 7753194 10 424 110
LWSS308 310995 7751833 10 6 10
LWSS309 309549 7750825 10 9 10
LWSS312 308468 7755458 10 344 150
LWSS313 307690 7753774 10 84 10
LWSS314 310197 7753918 10 40 10
LWSS315 310983 7752585 10 8 10
LWSS316 310476 7751531 10 14 10
LWSS317 307360 7752660 10 37 10
LWSS318 304761 7751530 20 137 70
LWSS319 303817 7750821 20 49 20
LWSS320 303513 7749908 10 52 30
LWSS321 304329 7749453 10 83 40
LWSS322 303733 7748970 10 375 360
LWSS323 302222 7751634 20 11 10
LWSS324 301408 7750191 20 17 10
LWSS325 301118 7750266 20 7 10
LWSS326 299529 7750758 10 8 10
LWSS327 298851 7753698 10 70 10
LWSS328 298118 7752914 10 63 20
LWSS329 297786 7752803 10 164 60
LWSS330 297542 7752332 10 130 40
LWSS331 297859 7751589 10 235 70
LWSS332 297743 7751392 10 51 10
LWSS333 293758 7754499 20 22 10
LWSS335 291417 7756638 10 18 10
LWSS336 293662 7758117 10 35 20
LWSS337 293239 7758862 10 107 30
LWSS338 291660 7758838 10 36 10
LWSS339 291835 7759016 10 335 60
LWSS340 291528 7759047 10 34 10
LWSS341 291878 7759967 10 26 10
LWSS342 300649 7755309 10 170 50
LWSS343 300697 7756249 10 712 340
LWSS344 301040 7756293 20 40 10
LWSS345 303230 7756616 10 217 50
LWSS346 303005 7755876 10 16 10
LWSS347 302894 7755034 10 25 10
LWSS348 303560 7754928 10 20 10
LWSS349 303118 7754758 10 176 70
LWSS350 302526 7754269 10 65 10
LWSS351 302462 7753891 10 39 20
LWSS352 302689 7753860 20 73 70
LWSS353 303659 7754034 20 51 20
LWSS354 304643 7757176 10 528 190
LWSS355 304398 7757534 10 579 230
LWSS356 305095 7757449 10 321 80
LWSS357 306860 7757553 10 695 210
LWSS358 306999 7756369 10 118 40
LWSS359 307628 7757575 10 186 70
LWSS360 307631 7757707 10 288 60
LWSS361 308082 7757860 10 66 10
LWSS362 310752 7758027 10 73 10
LWSS363 310768 7757374 10 234 50
LWSS387 315175 7747119 20 9 10
LWSS388 314838 7746642 20 19 10
LWSS389 314882 7746209 10 6 10
LWSS390 315960 7746391 30 8 10
LWSS391 316127 7746489 20 6 10
LWSS392 303396 7763735 10 222 130
LWSS393 302950 7763679 10 77 20
LWSS394 303018 7763551 10 136 30
LWSS395 303268 7763015 10 151 40
LWSS396 301531 7762367 10 37 10
LWSS397 301495 7761879 10 5 10
LWSS398 302744 7761951 10 70 10
LWSS399 302960 7761777 10 59 10
LWSS400 305221 7762763 10 397 110
LWSS401 305347 7762407 10 164 30
LWSS402 312624 7757384 10 894 290

ECR Minerals #ECR Interview – Creswick Results and 2023 Operating Plan

February 2023: Andrew Scott talks to Andrew Haythorpe and Adam Jones. The high grade results from Creswick are first on the agenda, and Adam discusses the un mined high grades discovered in the adits (tunnels) at ECR’s Brewery Lane property, and the grades from the rock chip sampling at Mills Reef on the new tenement 4km to the south. The rig will be moved to the Brewery Lane property and a diamond drilling will commence.

Andrew discusses how the core resampling last year and the results from sampling means the team can plan drill targets with real confidence – ” a real opportunity as soon as we can get the drill rig onsite”. He confirms that there have been no JV approaches or conversations yet.

Andrew then discusses Blue Moon – while the mineralised grades were lower than hoped, there are a couple more assays to come and a further hole left to complete.

Adam then discusses the lab used by ECR in Ballarat, which now turns samples around in 2-2.5 weeks, before turning to Tambo, where some initial data analysis is underway ahead of an initial field visit.

Andrew and Adam then discuss Lolworth, a potentially ‘world class’ discovery, where lithium, niobium and tantalum have been discovered along with an extraordinary amount of gold. The 10km ridgeline sits to the north of the lithium anomalies and represents a fantastic opportunity – potentially a company building asset.

Andrew then discussed the new Hurricane project awaiting completion of due diligence and approvals, and then talks through the imminent arrival of the 2nd drill rig and its likely deployment.

The team finally summarise the operating plan, possible asset disposals and the level of commitment across the company. The last word is from Andrew – “with 20yrs experience in the industry, ECR has the best portfolio of assets I have seen over that time”

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