REG - ECR Minerals PLC - Blue Mountain Gold Project – Exploration Update

ECR MineralsAnnouncement

18/08/2025 07:00

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RNS Number : 6899V  ECR Minerals PLC  18 August 2025

 

 

18 August 2025

 

ECR MINERALS PLC

 

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

 

Blue Mountain Gold Project - Exploration Update

 

ECR Minerals plc (LON: ECR), the exploration and development company focussed
on gold in Australia, provides an update on its ongoing exploration activities
at the Blue Mountain gold project in Queensland, Australia (the "Blue Mountain
Project").

 
HIGHLIGHTS

·      Alluvial channel drilling programme now three-quarters complete,
targeting the upper reaches of the Denny Gully area over a length of 2.5km.

·      Multiple flats intersected containing visible gold, highlighting
the potential for significant volumes of gold-bearing gravels.

·      First laboratory assays expected by early September 2025, with
additional samples from Denny's Gully in preparation on site.

·      Drilling at the Lolworth gold and rare earths project in
Queensland, Australia (the "Lolworth Project") is now scheduled to commence by
the last week of August 2025, after which trial washing of Blue Mountain
material will continue.

 
Blue Mountain Project Drilling Programme

Drilling at the Lower Patterson Area, the lowest point of the current drilling
programme, has identified visual gold across a flat measuring approximately
205 metres long by 100 metres wide and in places up to three metres deep (see
Figure 1). The Board believes that this zone has the potential to host between
35,000 and 40,000 bank cubic metres ("b.c.m") of gold-bearing gravels.
Importantly, this area is connected to a series of upstream flats where
drilling has also revealed visual gold over a further 170 metres in length by
17 metres wide, at depths of between one and three metres. The Board believes
that this upstream section could potentially contain an additional 6,000 b.c.m
of gravels.

 

Samples from both the Lower Patterson flat and from the upstream flat have
been dispatched to the laboratory for assay, with the first results expected
later by early September 2025. In parallel, the Company is preparing a further
batch of samples from the lower end of Denny's Gully (see Figure 2), where
visual gold has once again been observed within the main alluvial channels.
Once received, the laboratory results will assist the team in estimating gold
grades across the project area.

 

Figure 1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Figure 2

 

 

 

 

 

 

 

 

As indicated in the Company's announcement of 4 August 2025, the team
are remaining at the Blue Mountain Project for longer than planned in order
to ensure that they fully optimise the use of the drill rig to map out areas
of interest. With the ongoing success from the drill rig, the move to the
Lolworth Project has now been put back by another week.  Once drilling at the
Lolworth Project has commenced, which is now scheduled for the last week of
August 2025, ECR intends to excavate representative material adjacent to the
completed drilling at the Blue Mountain Project and run it through the trial
wash plant. The purpose of this part of the programme is to test whether
drilling results provide a reliable indication of grade by comparing sample
data against recovered gold. The outcome of this work will provide important
information to guide future exploration in relation to the extent of the
tenement. Beyond the current drilling area, ECR also holds tenure covering a
further prospective six kilometres of strike downstream along South Kariboe
Creek, offering significant exploration upside.

 
Blue Mountain Project

The Blue Mountain Gold Project is located in Queensland, Australia, within the
historic North Queensland goldfields. The Blue Mountain Project is
characterised by extensive alluvial gold workings along the Kariboe Creek and
its tributaries, many of which were only partially tested by historic
operations. ECR has established a systematic drilling programme across these
alluvial channels to assess their potential for modern gold recovery,
supported by on-site trial washing to calibrate and verify results. With the
combination of extensive alluvial gravels and the Company's capacity to
undertake trial processing, the Blue Mountain Project is viewed by the Board
as having strong near-term production potential alongside its longer-term
exploration upside.

 
Next Steps

·      Receipt of initial laboratory assay results from the Blue
Mountain Project.

·      Completion of the current alluvial channel drilling programme
covering 2.5km of strike.

·      Commencement of drilling at the Lolworth Project by end of the
last week of August 2025.

·      Trial washing of representative Blue Mountain material to confirm
drilling results and provide further insight into gold recovery potential.

·      Economic evaluation of the Blue Mountain Project.

 

Nick Tulloch, Chairman of ECR Minerals, commented "We continue to be very
encouraged by our findings at the Blue Mountain Project and our decision to
use the percussion drill rig for site investigations remains a success. While
laboratory assays remain pending, the extent of visual gold already observed
in multiple channel flats highlights the potential scale of this system -
which even now is only partly explored. By running material through the trial
wash plant, we will be able to confirm the relationship between drilling
results and actual recoveries and thereafter develop a detailed mining plan
for the project. With a further prospective 6km of strike downstream along
South Kariboe Creek, the Blue Mountain Project continues to represent one of
the most exciting opportunities within our portfolio."

 

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
 b.c.m:  bank cubic metres (Metric)
 g/t:    Grammes per Tonne (Metric)
 km:     Kilometres (Metric)
 km²:    Kilometre squared (Metric)
 M:      Metres (Metric)
 Sq:     Square (Metric)

 

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