TIDMECR
2 January 2018
ECR MINERALS plc
("ECR Minerals", "ECR" or the "Company")
Strategic Gold Licence Applications - Yilgarn Region
Australia
ECR Minerals plc (LON:ECR), the precious metals exploration and
development company, is pleased to announce that the Company has
submitted nine new exploration licence applications covering a
package of ground prospective for gold mineralisation in the
Yilgarn region of Western Australia.
The application package is to be called the Windidda gold
project and will, when granted, complement ECR's existing extensive
gold exploration portfolio in the state of Victoria, Australia.
Highlights:
-- Nine new exploration licence applications have been lodged in Western
Australia by ECR's 100% owned Australian operating vehicle
Mercator
Gold Australia Pty Ltd, covering 523 square kilometres of the
Yilgarn
Craton east of the town of Wiluna;
-- The application areas have been identified as a potential greenstone
hosted orogenic gold exploration opportunity with
significant
potential to contain Archaean greenstones buried beneath what it
is
believed may be shallow cover. Archaean greenstones host many
of
Western Australia and the world's most prolific gold
deposits;
-- Previous exploration within the project area has targeted base metal
and manganese deposits within the cover sequences. Gravity
and
magnetic anomalies interpreted to be hosted in greenstone
units
beneath the cover have not been targeted;
-- ECR's target areas are expected to be amenable to aircore drilling
across gravity-magnetic anomaly targets to enable rapid
assessment of
potential for gold mineralisation;
-- Licence applications cover a significant proportion of an identified
gravity-magnetic trend with known gold prospects along trend
in
outcropping greenstone to the south (not ECR ground);
-- The under-cover greenstone gold exploration model has been
successfully tested by Greatland Gold (LON:GGP) at its Ernest
Giles
project located approximately 125 kilometres east of ECR's
Windidda
project;
-- Further information to follow in respect of the application area and
the exploration potential of the Windidda gold project;
-- In addition to the Windidda applications, ECR has an extensive
pipeline of potential new opportunities, some of which are under
due
diligence review. Further updates will be provided to the market
as
and when material developments occur.
Craig Brown, Chief Executive Officer of ECR Minerals plc,
commented: "I am particularly pleased to announce this strategic
move into Western Australia, which, like Victoria, has exceptional
gold exploration potential in a first world operating
environment.
Greenstone-hosted gold trends in the Western Australian Yilgarn
province are very tightly held and access to free ground, when it
becomes available, is highly competitive. So it is very encouraging
that ECR has managed to compile a large land position of contiguous
tenements covering untested gravity-magnetic anomalies
representative of potential greenstone-hosted gold trends.
The funds secured by ECR in the strategic financings of July and
December 2018 have enabled us to continue engaging aggressively
with potential new initiatives, the Windidda project being one.
We are acquiring new ground in Australia at a time when many
explorers and developers are financially weakened by market
conditions. This, although unfortunate for the wider resource
sector, is presenting ECR with multiple highly attractive options,
and we intend to take full advantage.
Our work continues at pace and I look forward to updating our
shareholders further with additional new developments in the near
term."
COMPETENT PERSON STATEMENT
Information disclosed in this announcement has been reviewed by
Samuel Garrett, a Competent Person within the meaning of
Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves (the JORC Code) and for the purposes of
the AIM Rules.
Mr Garrett holds a BSc (Hons) in Geology and an MSc in Economic
Geology from the University of Tasmania. He is a member of the
Australian Institute of Geoscientists and a member of the Society
of Economic Geologists (USA).
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
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.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20190101005035/en/
This information is provided by Business Wire
(END) Dow Jones Newswires
January 02, 2019 02:00 ET (07:00 GMT)
Ecr Minerals (LSE:ECR)
Historical Stock Chart
From Apr 2024 to May 2024
Ecr Minerals (LSE:ECR)
Historical Stock Chart
From May 2023 to May 2024