REG - ECR Minerals PLC - Additional License Application at Kondaparinga

ECR MineralsAnnouncement

27/09/2023 11:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230927:nRSa8583Na&default-theme=true

RNS Number : 8583N  ECR Minerals PLC  27 September 2023

ECR MINERALS plc

("ECR Minerals", "ECR" or the "Company")

Additional License Application at Kondaparinga, Queensland

ECR Minerals plc (LON: ECR), the exploration and development company focused
on gold in Australia, is pleased to announce that it has, through its
subsidiary Lux Exploration Pty Limited, submitted an application for an
Exploration License (EPM28910). The license area, known as Kondaparinga
("Kondaparinga"), is approximately 120km(2) in area (see Figure One below) and
within the Hodgkinson Gold Province, 80km NW of Mareeba, North Queensland,
Australia. The 3-year exploration term would include an expenditure commitment
of AUD$487,000 over that period.

The Company's geological team have examined other parts of the region for
potential anomalous areas for gold, with this work being primarily based on
the publicly available Queensland Government Geochemistry Database (QDEX). The
exploration license application for Kondapringa EPM28910 was registered on 23
September 2023. The application will be assessed by government officials and
work on the ground will not commence until the application has been granted.
Whilst there can be no guarantee that the licence will be granted, the
Directors have every expectation it will be.

If granted, the proposed exploration programme will aim to verify the historic
stream results and if successful, a detailed survey programme will follow. The
initial target areas identified are referenced on Figure One below and are
spatially associated to the regional fault structures known as Hurricane Fault
and Black Hill Fault, with the anomalous target areas shown in the green halo.

Fig 1: EPM28910 application area:

https://www.ecrminerals.com/images/2023/Fig1_RNS-EPM28910_AP.png
(https://www.ecrminerals.com/images/2023/Fig1_RNS-EPM28910_AP.png)

ECR Chief Operations Officer Mike Whitlow added: "Kondaparinga is an exciting
opportunity for ECR that adds a new dimension to our work in North Queensland.
We have looked for sufficient geological benchmarks and features in the region
that we have already come to know well with the objective of securing
prospective ground on favourable terms that has the potential to be a valuable
addition to our portfolio."

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

 Nick Tulloch, Managing Director

 Andrew Scott, Director

 Email:

 info@ecrminerals.com (mailto:info@ecrminerals.com)
 Website: www.ecrminerals.com
 (http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.ecrminerals.com%2F&esheet=51817334&newsitemid=20180605005810&lan=en-US&anchor=www.ecrminerals.com&index=1&md5=820ad49dc1fc2c84a0538453c017bc1b)

 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).

 

ECR also owns 100% of an Australian subsidiary LUX Exploration Pty Ltd ("LUX")
which has three approved exploration permits covering 946 km(2) over a
relatively unexplored area in Lolworth Range, Queensland, Australia. The
Company also has an option to acquire 100% of Placer Gold, which wholly owns
the Hurricane Project, a later stage gold and antimony project located west
of Cairns in the Hodgkinson Province, NE Queensland.

 

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.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCNKOBKKBKDPCB