REG - ECR Minerals PLC - Drilling Underway at the Creswick Project

ECR MineralsAnnouncement

12/12/2023 11:00

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RNS Number : 4784W  ECR Minerals PLC  12 December 2023

 

ECR MINERALS plc

("ECR Minerals" or the "Company")

Drilling Underway at the Creswick Project

ECR Minerals plc (LON:ECR), the exploration and development company focused on
gold in Australia, is pleased to announce that further to the announcement of
11 December 2023 (link here
(https://polaris.brighterir.com/public/ecr_minerals_plc/news/rns/story/xj70knx)
), the Company has confirmed that access to the relevant sites has been
granted and accordingly reverse circulation ("RC") drilling programme has
commenced at the Creswick gold project in central Victoria, Australia.

Drilling is underway at Kuboid Hill and Davey Road prospects (See Figure 1
below), both of which have previously provided evidence of gold mineralisation
from soil analysis and rock chip sampling.

Figure 1: Creswick Gold Project

As previously announced, the Company expects that approximately 1,200 metres
of reverse circulation drilling in aggregate will be completed at around 10 -
12 locations at Creswick.  Following drilling, and allowing for laboratory
closures over the holiday period, assay results are anticipated to be
available midway through the first quarter of 2024.

ECR Chief Operating Officer Mike Whitlow commented: "In less than 12 weeks,
the Company has gone through a complete step change in approach. We have
sufficient resources and budget for activities that will take us well into
2024, and whilst it's exciting to be drilling, it's more encouraging to be a
part of a multifaceted approach which we believe will create shareholder
value."

Further updates will be provided in due course.

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 km2 over a
relatively unexplored area in Lolworth Range, Queensland, Australia. The
Company has also submitted a license application at Kondaparinga which is
approximately 120km2 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), 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.

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