ECR Minerals PLC (LON:ECR)

ECR Minerals PLC (LON:ECR)


Share Price
0.67 p
Change
-0.01 (-1.48 %)
Market Cap
£2.30 m
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ECR Minerals PLC RNS Release

New Licence Applications – Australian Gold Portfolio


New Licence Applications – Australian Gold Portfolio

4 December 2018

ECR MINERALS plc

(“ECR Minerals”, “ECR” or the “Company”)

New Licence Applications – Australian Gold Portfolio

ECR Minerals plc (LON:ECR) the precious metals exploration and development company is pleased to announce the Company has submitted new licence applications to augment its existing gold exploration interests in the Victoria region of Australia.

Highlights:

  • Four new licence applications in Australia’s Victoria region have now been submitted by ECR’s 100% owned Australian operating vehicle Mercator Gold Australia Pty Limited;
  • Three applications have been submitted in the Bailieston/Moormbool gold project area to augment existing licences and secure available ground south and south and south west of an application submitted by Newmont Exploration Pty Limited in recent weeks;
  • One application has been submitted to augment ground in the Creswick project area and covers a southern portion of the Dimocks Main Shale (“DMS”);
  • As outlined in the Company’s market announcement of 25 September 2018 “The DMS sits between two large gold producing areas where it is estimated historically, 15 million ounces of gold has been produced in Victoria, Australia. It is the proposition of the Company’s technical team that they have identified the hard rock source for a significant portion of the aforementioned 15 million ounces of gold production. Although further work is required to validate this proposition”;
  • Further work is being undertaken to add additional licence application ground in Australia where the Company has identified strategic exploration opportunities.

Craig Brown, Chief Executive Officer of ECR Minerals plc commented: “I am delighted to announce today that the Company has successfully submitted four new applications which materially bolster our strategic ground holding and provide significant additional exploration opportunities for our Australian operations.

The recent application submitted by Newmont Exploration Pty Limited over a large area bordering our Bailieston and Moormbool gold projects is an important ratification of our strategic Australian gold positioning. The presence of Newmont adds weight to the potential prospectivity of the area.

ECR’s exploration work at Bailieston has recently demonstrated gold prospectivity as highlighted by the results of our Bailieston sampling programme announced on 28 September 2018 with gold grades up to 67.4g/t.

At Creswick and as announced on 25 September 2018 our exploration mapping revealed a large gold system, and reflecting our wider exploration work to date, we have taken the opportunity to secure more strategic ground south of our existing Creswick project area.

ECR continues to examine new opportunities and will move to secure additional ground where appropriate.”

FOR FURTHER INFORMATION, PLEASE CONTACT:

ECR Minerals plc   Tel: +44 (0)20 7929 1010
David Tang, Non-Executive Chairman
Craig Brown, Director & CEO

Email:

 

[email protected]

Website: www.ecrminerals.com
 
WH Ireland Ltd Tel: +44 (0)161 832 2174
Nominated Adviser
Katy Mitchell/James Sinclair-Ford
 
SI Capital Ltd Tel: +44 (0)1483 413500
Broker
Nick Emerson

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.

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