REG-ECR Minerals plc Approval Received For Two Further Exploration Tenements in Victoria, Australia
03/01/2023 07:45
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Approval Received For Two Further Exploration Tenements in Victoria, Australia
ECR MINERALS plc
(“ECR Minerals”, “ECR” or the “Company”)
Approval Received For Two Further Exploration Tenements in Victoria, Australia
ECR Minerals plc (LON: ECR), the exploration and development company focused
on gold in Australia, is pleased to announce it has received approval for two
new exploration tenements in Victoria, Australia.
HIGHLIGHTS
* New tenement EL007296 now completes the total exploration package at
Bailieston, Victoria.
* New Creswick tenement EL006713 effectively connects EL006184 and EL006907,
creating a continuous land package from ECR’s Springmount property south
through to the outskirts of Ballarat.
ECR CEO Andrew Haythorpe commented: “This is a great start to 2023 for our
Company. The new Bailieston tenements effectively cover the strike extension
of the Bailieston Anticline, providing us with an opportunity to continue with
the Blue Moon drill campaign and push further west. The new Creswick tenement
means that our land package there now provides almost uninterrupted land
access from our Springmount property to the outskirts of Ballarat, which given
our field team believe they have identified a new parallel gold system at
Davey Road and South Davey (see December 23 2022 announcement here
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fpolaris.brighterir.com%2Fpublic%2Fecr_minerals_plc%2Fnews%2Frns%2Fstory%2Fxzjyylw&esheet=53156045&newsitemid=20230103005243&lan=en-US&anchor=here&index=1&md5=93f5d8fb3eed99cd78a824aed6806f5c)
) should now mean we can fully explore these anomalies through to their
origin.”
“Our field teams will be on the ground on our new tenements during Q1 2023,
and I very much look forward to reporting on progress.”
The location of the new tenements can be found here:
Figure 1:
https://www.ecrminerals.com/images/2023/Fig1_New_Tenements_230102.png
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.ecrminerals.com%2Fimages%2F2023%2FFig1_New_Tenements_230102.png&esheet=53156045&newsitemid=20230103005243&lan=en-US&anchor=https%3A%2F%2Fwww.ecrminerals.com%2Fimages%2F2023%2FFig1_New_Tenements_230102.png&index=2&md5=89f7aa31a3da30fffe9a14d240a32cca)
EL0007296 and EL006713 have been formally approved by the Victorian Government
as of the 28(th) December 2022. Initial ground activities such as mapping,
soil and rock chip sampling will begin in early 2023.
EL007296 adjoins EL5433 and covers the strike extension of the Bailieston
Anticline. Known mineralisation occurring across the Bailieston prospects at
HR3, Cherry Tree and Blue Moon are closely related to this anticline, and to
date, there is no record of any exploration taking place within these new
tenements.
EL006713 is located between ECR’s two other approved tenements EL006184 and
EL006907 at Creswick, and effectively creates a continuous land package from
ECR’s Brewing Lane property at Springmount south through to the outskirts of
Ballarat. The approval of EL006713 means that on-ground exploration activities
such as soil sampling and rock chips can now begin, with initial targets
focusing on the proposed strike of quartz veins which the Board believe are
hosted within the Dimocks Main Shale. In addition, the source of the alluvial
gold within the western headwaters of the Madame Berry Deep Lead may reside
within this new tenement.
Table 1: ECR Minerals current exploration tenements (granted and applied),
Victoria, Australia (as of January 2023)
Tenement Name Granted Expiry Area (km(2))
EL5433 Bailieston 28/03/2013 27/03/2023 23
EL006184 Old Creswick 29/12/2016 *Renewal applied 45
EL006907 South Creswick 26/11/2021 25/11/2026 81
EL007484 Boucher Town 26/11/2021 25/11/2026 374
EL006911 Graytown 1 5/12/2022 4/12/2027 10
EL006912 Graytown 2 8/12/2022 7/12/2027 77
EL006713 New Creswick 28/12/2022 27/12/2027 66
EL007296 Wirrate 28/12/2022 27/12/2027 32
EL007486 Ramrod Creek in application (322)
EL007537 Ballarat Competing application (138)
TOTAL granted (km(2)) 708
(…) notes exploration area in square kilometres.
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 (mailto:info@ecrminerals.com)
Website: www.ecrminerals.com
(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.ecrminerals.com%2F&esheet=53156045&newsitemid=20230103005243&lan=en-US&anchor=www.ecrminerals.com&index=3&md5=a7657df24737e2da8fcfbf4e2776d0c4)
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 km(2)
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 70% 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
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