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30/04/2013

ECR Minerals secures earn-in rights to Philippines gold-silver

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Additional Information
Market: AIM
Sector: General Mining - Gold
EPIC: ECR
Latest Price: 0.16p  (0,00%)
52-week High: 0.88p
52-week Low: 0.12p
Market Cap: 1.79M
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Deal ECR Tax Free*
*subject to change and depends on individual circumstances.
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ECR Minerals
www.ecrminerals.com
Deal ECR Minerals Tax Free* Losses can exceed
your initial deposit *subject to change and depends on individual circumstances.

ECR is a mineral development company with, among other interests, 100% ownership of the Sierra de las Minas gold project in La Rioja Province, Argentina; a 21% fully diluted stake in THEMAC Resources Group Ltd (TSX-V: MAC), which is focused on the development of the Copper Flat copper-molybdenum-gold-silver porphyry project in New...

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ECR rises again on more bullish results from associate THEMAC

August 09 2012, 3:36pm A further three to five more drill holes are planned to finish the 2012 programme.
Shares in ECR Minerals (LON:ECR) soared after its associate THEMAC Resources (CVE:MAC) released more positive drilling results from its Copper Flat project in New Mexico.

THEMAC, in which ECR has a 21 per cent interest, said the results from its wholly owned copper-molybdenum-gold-silver porphyry project continued to show “excellent continuity in mineralisation” and expansion of the known higher-grade central zone to the northeast.

The company said the extension of the higher-grade mineralisation at depth came as a “welcome surprise”.
Drill hole assays returned results including 0.45 per cent copper and 0.16 ounces per tonne of silver over 449 feet.
ECR shares leapt 25 per cent to 0.763 pence each.

“With the higher-grade mineralization being extended considerably below the current pit design, a very deep hole, CF12-15, scheduled to a depth of 2,000 feet, is underway and currently at a depth of 1000 feet has become much more important. Seeing the higher-grade mineralization continue at depth is significant,” THEMAC added.

In an effort to optimise the overall mine plan, the company is now working towards a more refined mineral definition model, which will ultimately form part of the definitive feasibility study (DFS).

A further three to five more drill holes are planned to finish the 2012 programme.

After the strong set of results in June and the positive prefeasibility study (PFS) results in July, THEMAC is hopeful that the update due out this autumn will result in an increase to the deposit’s reserves, resources and by-product credits.

“It is great to see another strong set of drill results from Copper Flat,” said ECR’s managing director Patrick Harford.

“As well as demonstrating the Copper Flat deposit’s excellent continuity of mineralisation, the results released today have achieved a significant expansion of the higher grade core zone.”

Copper Flat has proven and probable reserves of 98.118 million tons containing 608.5 million pounds of copper, 18.1 million pounds of molybdenum, 295,000 ounces of gold and 6.48 million ounces of silver. 


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