REG-ECR Minerals plc Cordillera Tiger Gold Resources Renews Exploration License EP-006 at Danglay Gold Project, N Philippines

ECR MineralsAnnouncement

30/07/2021 16:25

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Cordillera Tiger Gold Resources Renews Exploration License EP-006 at Danglay
Gold Project, N Philippines

 

ECR MINERALS plc

(“ECR Minerals”, “ECR” or the “Company”)

Cordillera Tiger Gold Resources Renews Exploration License EP-006 at Danglay
Gold Project, N Philippines

ECR Minerals plc (LON: ECR), the gold exploration and development company
focused on Australia, is pleased to announce that Cordillera Tiger Gold
Resources, Inc. (“Cordillera Tiger”), in which ECR is entitled to a 25%
interest, has successfully renewed Exploration License EP-006 at the Danglay
gold project, which is located in a prolific gold and copper mining district
in the north of the Philippines.

As reported in the Annual Report on March 23(rd) 2021 ECR is entitled to a 25%
interest in the Danglay gold project in the Philippines, which is held by a
Philippine corporation called Cordillera Tiger Gold Resources, Inc.
(“Cordillera Tiger”) under an Exploration Permit. The issuance of a 25%
shareholding in Cordillera Tiger to the Company has been delayed since 2016,
largely due to a court case filed by an individual who is a minority
shareholder and former director of Cordillera Tiger. However, Jerry Marave,
President of Cordillera Tiger has written to ECR indicating his continued
support for the earn-in interest and consequential shareholding given that the
conditions for the earn-in have been satisfied.

The Company also notes that former ECR consultant and CEO Stephen Clayson, who
resigned from ECR Minerals on July 16(th) 2021, has in addition resigned as
director of Cordillera Tiger.

The Directors believe the political climate for the minerals industry in the
Philippines is improving, and consider that the Danglay gold project, which is
located in a prolific gold and copper mining district in the north of the
country, has potential for further exploration to build upon the existing
inferred mineral resource estimate of 63,500 ounces of gold at 1.55 g/t gold.
This resource was reported by ECR in 2015 to the Canadian NI43-101 standard,
based on exploration carried out at Danglay by ECR during 2014 and 2015. In
addition to the resource, an NI43-101 target for further exploration
(conceptual potential quantity and grade of mineralisation expressed as
ranges) of 95,000 to 170,000 ounces of gold at 5 to 7.5 g/t was reported.

Craig Brown, Chief Executive Officer commented: “I am pleased to report that
not only has license EP-006 has been renewed by Cordillera Tiger, but also,
following Stephen Clayson’s resignation as director of Cordillera Tiger,
President Jerry Marave has indicated his firm and continued support for
ECR’s involvement and retained 25% interest. ”

“Although ECR’s priority and focus is on developing our Australian assets,
this is nonetheless a significant development given ECR has already £1.2
million into the project. In particular the Board have noted that the
political climate for the minerals industry in the Philippines is improving,
and as such I hope to report further positive progress on the Danglay gold
project to you in the coming months.”

MARKET ABUSE REGULATION (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) as in force in the United Kingdom pursuant to the
European Union (Withdrawal) Act 2018. 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 (mailto:info@ecrminerals.com)                                                                                                                                                                                                                                    
 Website: www.ecrminerals.com                                                                                                                                                                                                                                                          
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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 eight licence applications outstanding including two
licence applications lodged in eastern Victoria. (Tambo gold project). MGA is
currently drilling at both the Bailieston and Creswick projects and has an
experienced exploration team with significant local knowledge in the Victoria
Goldfields and wider region.

https://mercatorgold.com.au/
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fmercatorgold.com.au%2F&esheet=52469126&newsitemid=20210730005453&lan=en-US&anchor=https%3A%2F%2Fmercatorgold.com.au%2F&index=2&md5=814c8cc351758c4cd1e3d143889505f7)

ECR also owns 100% of an Australian subsidiary LUX Exploration Pty Ltd
(“LUX”) which has three licence applications covering 900 km2 covering a
relatively unexplored area in Queesnland, Australia.

https://luxexploration.com/
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fluxexploration.com%2F&esheet=52469126&newsitemid=20210730005453&lan=en-US&anchor=https%3A%2F%2Fluxexploration.com%2F&index=3&md5=d8778f41dff449c4e99dede7377bea9e)

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 has earned a 25% 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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ECR Minerals plc


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