REG - ECR Minerals PLC - Blue Mountain drilling completed

ECR MineralsAnnouncement

27/08/2025 07:00

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RNS Number : 7624W  ECR Minerals PLC  27 August 2025

 

 

27 August 2025

 

ECR MINERALS PLC

 

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

 

Blue Mountain drilling completed

and

Drilling to commence at Lolworth

 

ECR Minerals plc (LON: ECR), the exploration and development company focused
on gold in Australia, provides an update on activities at the Blue Mountain
gold project in Queensland, Australia (the "Blue Mountain Project") and the
Company's upcoming drilling programme at the Lolworth gold and rare earths
project in North Queensland, Australia (the "Lolworth Project").

 

HIGHLIGHTS

·      Alluvial drilling completed at the Blue Mountain Project, with
visible gold confirmed at the Lower Patterson, Windmill and Upper Kariboe
Creek prospects.

·      Coarse, heavy-textured gold identified for the first time at the
Upper Kariboe Creek.

·      Trial wash is planned on selected Blue Mountain Project samples
to assess potential recovery rates and average grades.

·      Drill rig en route to the Lolworth Project, with first holes
targeting the Uncle Terry prospect next week.

 
Blue Mountain Project Drilling Programme

The recently completed alluvial drilling programme at the Blue Mountain
Project confirmed visible gold across the Lower Patterson, Windmill and Upper
Kariboe Creek prospects. Importantly, coarse and heavy-textured gold was
visually identified at the Upper Kariboe Creek, the first time such gold has
been seen at the Blue Mountain Project.

 

Trial wash testing of selected samples from the three prospects is planned to
provide valuable data on potential recovery rates and average grades (see
Figure 1).

 

Figure 1: Prospect Map, Blue Mountain Gold Project

 

 

 

 

 

Blue Mountain Project
The Blue Mountain Project, located in the historic North Queensland goldfields, hosts extensive alluvial gold workings along the Kariboe Creek and its tributaries, many of which have seen only limited historic testing. ECR has implemented a systematic drilling programme across these channels to evaluate their potential for modern recovery, complemented by on-site trial washing to seek to verify results. With substantial volumes of alluvial gravels and the capability to conduct in-house processing trials, the Board considers that the Blue Mountain Project offers strong near-term production potential together with significant longer-term exploration upside.

 

Lolworth Project Drilling Programme

The drilling rig is currently en route to the Lolworth Project and will
undergo servicing at Charters Towers before being moved onto site, with
arrival expected next week.

 

The first drilling target will be the Uncle Terry prospect, where previous
rock chip sampling and mapping confirmed galena, sulphides and high-grade gold
assays, including grades of up to 75.6 g/t Au. Drilling will test quartz blow
outcrops and shear zones that remain open along strike (see Figures 2 and 3).

 

Figure 2: Rock Chip Results - Gorge Creek West

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Figure 3: Rock Chip Results - Uncle Terry Drill Target Outcrop

 

Lolworth Project

The Lolworth Project, also in North Queensland, is a large-scale gold and
critical minerals exploration project. Previous sampling has confirmed
high-grade gold, silver-lead (galena) mineralisation and rare earth element
anomalies across multiple targets. The Lolworth Project covers an extensive
area of prospective geology that has seen limited modern exploration, despite
its strong mineral potential. Drilling at the Uncle Terry prospect will
represent the first systematic drill testing at the Lolworth Project and is
expected to provide valuable insights into the scale and continuity of
mineralisation across the wider project area.

 

ECR's Chief Geologist, Adam Jones, commented: "Our Queensland portfolio continues to stand out and deliver exciting results. At the Blue Mountain Project we have confirmed visible gold across several prospects, including coarse and heavy-textured gold at Upper Kariboe Creek, which we consider a significant milestone as we consider how to advance its near-term production potential. With the rig now moving to the Lolworth Project, we are due to drill some of the most prospective ground we have seen to date. Together, these projects are showing great promise and position ECR for an exciting period ahead."

 

Review of Announcement by Qualified Person

This announcement has been reviewed by Adam Jones, Chief Geologist 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 8080 8176
 Nick Tulloch, Chairman                                                                                                                                                                                                                             info@ecrminerals.com (mailto:info@ecrminerals.com)

 Andrew Scott, Director

 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)

 Allenby Capital Limited                                                                                                                                                                                                                            Tel: +44 (0) 3328 5656
 Nominated Adviser                                                                                                                                                                                                                                  info@allenbycapital.com (mailto:info@allenbycapital.com)

 Nick Naylor / Alex Brearley / Vivek Bhardwaj

 Axis Capital Markets Limited                                                                                                                                                                                                                       Tel: +44 (0) 203 026 0320
 Broker
 Lewis Jones

 SI Capital Ltd                                                                                                                                                                                                                                     Tel: +44 (0) 1483 413500
 Broker
 Nick Emerson

 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 ECR Minerals (Australia) Pty Ltd ("ECR Australia")
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 ECR Minerals (Queensland) Pty
Ltd which has three approved exploration permits covering 946 km(2) over a
relatively unexplored area in Lolworth Range, Queensland, Australia. The
Company has also submitted a license application at Kondaparinga which is
approximately 120km(2) in area and located within the Hodgkinson Gold
Province, 80km NW of Mareeba, North 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), MGA 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 Australia also has approximately A$75 million of unutilised tax losses
incurred during previous operations.

 

Glossary

 

 Au:    Gold
 g/t:   Grammes per Tonne (Metric)
 km:    Kilometres (Metric)
 km²:   Kilometre squared (Metric)
 M:     Metres (Metric)
 Sq:    Square (Metric)

 

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