REG-ECR Minerals plc Drilling Update – Victoria Goldfields, Australia

ECR MineralsAnnouncement

12/02/2021 12:10

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Drilling Update – Victoria Goldfields, Australia

 

ECR MINERALS plc

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

DRILLING UPDATE – VICTORIA GOLDFIELDS, AUSTRALIA

ECR Minerals plc (LON: ECR), the gold exploration and development company
focussed on Australia

is pleased to announce a drilling update from the HR3 area (“HR3”) of the
Company’s 100% owned Bailieston Project in the Victoria Goldfields,
Australia.

Craig Brown, Chief Executive Officer of ECR Minerals plc, commented: “I am
pleased to announce the completion of our first diamond drill hole utilising
the Company’s in-house drilling equipment, which is a notable event for the
Company.

The hole was completed efficiently and safely and we are now pushing on with
further drilling with the commencement of the second hole. We intend to
continue drilling across various target areas within ECR license areas in the
coming weeks and months.

The presence of a 5.3 metre wide reef (drilled thickness) with visible gold in
the first drill hole core is a positive development and we look forward to
receipt of assay results from the laboratory as soon as possible.”

HIGHLIGHTS:

This first diamond drill hole at HR3 was undertaken utilising the Company’s
recently acquired drill rig and has reach a total depth of 300 metres. The
drill rig has now commenced a second hole in the same location. The hole
intersected the Byron Main Reef at 110 m and the information from this hole
will allow us to establish the structural architecture and controls for the
obvious gold mineralisation in this reef (and adjacent reefs) and in the wider
HR3 prospect. The Byron Main Reef is 5.3 m wide (drilled thickness, true
thickness unknown) and is milky, vuggy quartz with laminated margins. 1.3 m of
core was lost drilling through the reef.

The current exploration drill programme was originally announced on 12 January
2021 and this announcement may be viewed through the following link:

https://polaris.brighterir.com/public/ecr_minerals_plc/news/rns/story/wvp81vw
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fpolaris.brighterir.com%2Fpublic%2Fecr_minerals_plc%2Fnews%2Frns%2Fstory%2Fwvp81vw&esheet=52378340&newsitemid=20210212005235&lan=en-US&anchor=https%3A%2F%2Fpolaris.brighterir.com%2Fpublic%2Fecr_minerals_plc%2Fnews%2Frns%2Fstory%2Fwvp81vw&index=1&md5=63ebdc61bf773409f45d731efbfa88d8)

The drill core from the first hole was transferred to the Company’s
processing shed in Bendigo, Australia where the core was cut and analysed
following which samples have been delivered to the laboratory today for assay
analysis. The samples will be processed by the Gekko’s Assay Laboratory
facilities in Ballarat, Australia and the assay results are expected in the
coming weeks.

https://www.gekkos.com/en/solutions/lab-testwork/assay-lab
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.gekkos.com%2Fen%2Fsolutions%2Flab-testwork%2Fassay-lab&esheet=52378340&newsitemid=20210212005235&lan=en-US&anchor=https%3A%2F%2Fwww.gekkos.com%2Fen%2Fsolutions%2Flab-testwork%2Fassay-lab&index=2&md5=d353a0b60ffd06164a08c099696095e5)

Preliminary core inspection has identified visible gold in the core and the
Company has been utilising a portable x-ray fluorescence (“pXRF”) as part
of the preliminary examination process. The pXRF has confirmed the gold
content of a small speck seen in the core at 111.0 m.

https://www.ecrminerals.com/images/2021/BH3DD001_Byron_Main_Reef.pdf
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.ecrminerals.com%2Fimages%2F2021%2FBH3DD001_Byron_Main_Reef.pdf&esheet=52378340&newsitemid=20210212005235&lan=en-US&anchor=https%3A%2F%2Fwww.ecrminerals.com%2Fimages%2F2021%2FBH3DD001_Byron_Main_Reef.pdf&index=3&md5=a0847c44bc5ff48964b83306029e80bf)

Review of Announcement by Qualified Person

This announcement has been reviewed by Dr Rodney Boucher of Linex Pty Ltd.
Linex Pty Ltd provides geological services to Mercator Gold Australia Pty Ltd,
including the services of Dr Boucher, who has a PhD in geology, is a Member
and RPGeo of the Australian Institute of Geoscientists and is a Member of the
Australasian Institute of Mining and Metallurgy. Dr Boucher is a Qualified
Person as that term is defined by the AIM Note for Mining, Oil and Gas
Companies.

MARKET ABUSE REGULATIONS (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). 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                                                                                                                                                                                                                                                          
 (https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.ecrminerals.com%2F&esheet=52378340&newsitemid=20210212005235&lan=en-US&anchor=www.ecrminerals.com&index=4&md5=8eb1a060804e424672326b343ddfa407)                                                                 
                                                                                                                                                                                                                                                                                       
 WH Ireland Ltd                                                                                                                                                                                                                                          Tel: +44 (0)161 832 2174      
 Nominated Adviser                                                                                                                                                                                                                                                                     
 Katy Mitchell/James Sinclair-Ford                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                       
 SI Capital Ltd                                                                                                                                                                                                                                          Tel: +44 (0)1483 413500       
 Broker                                                                                                                                                                                                                                                                                
 Nick Emerson                                                                                                                                                                                                                                                                          


ABOUT ECR MINERALS PLC

ECR is a mineral exploration and development company. ECR’s wholly owned
Australian subsidiary Mercator Gold Australia Pty Ltd has 100% ownership of
the Bailieston and Creswick gold projects in central Victoria, Australia. ECR
is currently drilling high priority targets on the Bailieston gold project
using the Company’s own diamond drill rig. ECR has an experienced
exploration team with significant local knowledge in the Victoria Goldfields.

Following the sale of the Avoca, Moormbool and Timor gold projects in
Victoria, Australia to Fosterville South Exploration Ltd (TSX-V: FSX), ECR has
the right to receive up to A$2 million in payments subject to future resource
estimation or production at those projects.

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, and holds a royalty on the SLM gold project in
La Rioja Province, Argentina.



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ECR Minerals plc


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