REG-ECR Minerals plc Final Niobium and Tantalum Stream Results Extend Anomalous Footprint at Lolworth Range Project, Queensland

ECR MineralsAnnouncement

03/04/2023 07:15

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Final Niobium and Tantalum Stream Results Extend Anomalous Footprint at
Lolworth Range Project, Queensland

 

ECR MINERALS plc

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

Final Niobium and Tantalum Stream Results Extend Anomalous Footprint at
Lolworth Range Project, Queensland

ECR Minerals plc (LON: ECR), the exploration and development company focused
on gold in Australia, is pleased to announce the final Niobium and Tantalum
results from the stream sampling campaign at the Lolworth Range project, North
Queensland, Australia.

ECR, through its wholly owned subsidiary, has 100% ownership of three
exploration tenements (EPM27901, EPM27902 and EPM27903), which covers the
Lolworth Range, located 120km west of the famous gold district of Charters
Towers. The project is being explored under ECR’s Australian wholly owned
subsidiary Lux Exploration Pty Ltd (“LUX”).

HIGHLIGHTS


 * 76 Lithium, Niobium and Tantalum (Li-Nb-Ta) results from the final batch of
pan concentrate stream sediment samples now received.

 * Best results include Niobium up to 894 ppm and Tantalum up to 290 ppm.

 * These new results extend the anomalous Nb-Ta drainages 10km further west of
the previously announced high Nb-Ta results (see announcement from Feb 1 2023 
here
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fpolaris.brighterir.com%2Fpublic%2Fecr_minerals_plc%2Fnews%2Frns%2Fstory%2Fxzjz83w&esheet=53372840&newsitemid=20230402005047&lan=en-US&anchor=here&index=1&md5=bc6a39963be3e88feefdf580a7ca0bea)

).

 * Approximately 50 square kilometres of the Lolworth Project now showing signs
of hosting a potential Li-Nb-Ta hardrock source.

ECR CEO Andrew Haythorpe commented: “Although ECR Minerals is currently in
an early exploration phase at Lolworth, it is nonetheless gratifying to see
the project take a significant step forward on the back of an extension to the
potential drainage sources for Niobium and Tantalum. To already have a 50 sq
km area indicating a potential combined resource for Lithium, Niobium and
Tantalum at this phase of exploration is an exciting development by any
standard. Whilst still at an early stage, these results together with the gold
anomalies reported last week (see announcement from Feb 23 2023 here
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fpolaris.brighterir.com%2Fpublic%2Fecr_minerals_plc%2Fnews%2Frns%2Fstory%2Frye9y3w&esheet=53372840&newsitemid=20230402005047&lan=en-US&anchor=here&index=2&md5=dd2797853e1d7137c0b33a61788382b6)
), adds further credence to the Board’s view that the Lolworth Project has
great potential to develop into a multi mineral flagship project for the
Company.”

“I look forward to reporting back on further developments.”

Summary plan of all anomalous Niobium and Tantalum areas identified from the
2022 stream sampling campaign at the Lolworth Project are shown in Figure 1
below:

Figure 1: https://www.ecrminerals.com/images/2023/Fig1_230331_Ta-Nb-Update.png
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.ecrminerals.com%2Fimages%2F2023%2FFig1_230331_Ta-Nb-Update.png&esheet=53372840&newsitemid=20230402005047&lan=en-US&anchor=https%3A%2F%2Fwww.ecrminerals.com%2Fimages%2F2023%2FFig1_230331_Ta-Nb-Update.png&index=3&md5=7e42be5412d89a37ec72c321affae069)

FINAL Li-Ta-Nb RESULTS

The last remaining multi-element results from the pan concentrate stream
sampling campaign completed at the end of 2022 have now been received.
Previous results have identified that several streams within the Lolworth
Project are host to anomalous Gold, Lithium, Tantalum and Niobium, with
Li-Ta-Nb sample results indicating that a 10km north-south ridgeline north of
Gorge Creek is close to the possible source rocks. Details of this work are
shown in Figure One above.

The final results are anomalous in Ta and Nb with over 10 of the 76 results
greater than 300 ppm in Niobium and 9 greater than 150ppm in Tantalum.
Although there were no traces of anomalous Lithium in these results, we have
extended the search for potential host rocks for Ta-Nb to the centre of
EPM27902.

NEXT STEPS

The 2023 field work campaign is anticipated to start next month (May 2023).
The Board has already identified key areas to follow-up from last season’s
work, targeting the sources for the gold anomalies, along with lithium,
tantalum and niobium. Initial work will focus on soil sampling and rock
chipping outcrops over the 10km north-south ridgeline where the most promising
Ta-Nb source streams drain from. Pegmatites are known sources for Li-Ta and Nb
and these are known to outcrop throughout the area.

The Board is enthused by the possibilities and nascent potential that is
believed to exist at Lolworth. While our license tenements there represent
virgin territory for lithium, tantalum and niobium exploration, given what has
already been identified at such an early phase of exploration, we believe the
Lolworth Project has great potential as a future, multi mineral flagship
project for the Company.

REVIEW OF ANNOUNCEMENT BY QUALIFIED PERSON

This announcement has been reviewed by Adam Jones, Technical Director of
Exploration 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.

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). MGA
is currently drilling at the Bailieston Blue Moon Project (EL5433) and
undertaking geochemical exploration on the Creswick (EL6148) project and has
an experienced exploration team with significant local knowledge in the
Victoria Goldfields and wider region.

ECR also owns 100% of an Australian subsidiary LUX Exploration Pty Ltd
(“LUX”) which has three approved exploration permits covering 946 km(2)
over a relatively unexplored area in Queensland, Australia.

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.

APPENDIX ONE

TABLE ONE: All Li-Ni-Ta results from the remaining 76 stream samples, Lolworth
Range Project. (Locations reported as GDA94-Zone 55 grid).
 SAMPLEID  EASTING  NORTHING  Lithium (ppm)  Niobium (ppm)  Tantalum (ppm)  
 LWSS152   314342   7749643   10             26             10              
 LWSS201   311180   7748656   30             9              10              
 LWSS202   310602   7749015   30             20             10              
 LWSS203   311113   7748916   20             6              10              
 LWSS301   313505   7752290   10             27             10              
 LWSS305   313302   7754719   10             110            20              
 LWSS307   313709   7753194   10             424            110             
 LWSS308   310995   7751833   10             6              10              
 LWSS309   309549   7750825   10             9              10              
 LWSS312   308468   7755458   10             344            150             
 LWSS313   307690   7753774   10             84             10              
 LWSS314   310197   7753918   10             40             10              
 LWSS315   310983   7752585   10             8              10              
 LWSS316   310476   7751531   10             14             10              
 LWSS317   307360   7752660   10             37             10              
 LWSS318   304761   7751530   20             137            70              
 LWSS319   303817   7750821   20             49             20              
 LWSS320   303513   7749908   10             52             30              
 LWSS321   304329   7749453   10             83             40              
 LWSS322   303733   7748970   10             375            360             
 LWSS323   302222   7751634   20             11             10              
 LWSS324   301408   7750191   20             17             10              
 LWSS325   301118   7750266   20             7              10              
 LWSS326   299529   7750758   10             8              10              
 LWSS327   298851   7753698   10             70             10              
 LWSS328   298118   7752914   10             63             20              
 LWSS329   297786   7752803   10             164            60              
 LWSS330   297542   7752332   10             130            40              
 LWSS331   297859   7751589   10             235            70              
 LWSS332   297743   7751392   10             51             10              
 LWSS333   293758   7754499   20             22             10              
 LWSS335   291417   7756638   10             18             10              
 LWSS336   293662   7758117   10             35             20              
 LWSS337   293239   7758862   10             107            30              
 LWSS338   291660   7758838   10             36             10              
 LWSS339   291835   7759016   10             335            60              
 LWSS340   291528   7759047   10             34             10              
 LWSS341   291878   7759967   10             26             10              
 LWSS342   300649   7755309   10             170            50              
 LWSS343   300697   7756249   10             712            340             
 LWSS344   301040   7756293   20             40             10              
 LWSS345   303230   7756616   10             217            50              
 LWSS346   303005   7755876   10             16             10              
 LWSS347   302894   7755034   10             25             10              
 LWSS348   303560   7754928   10             20             10              
 LWSS349   303118   7754758   10             176            70              
 LWSS350   302526   7754269   10             65             10              
 LWSS351   302462   7753891   10             39             20              
 LWSS352   302689   7753860   20             73             70              
 LWSS353   303659   7754034   20             51             20              
 LWSS354   304643   7757176   10             528            190             
 LWSS355   304398   7757534   10             579            230             
 LWSS356   305095   7757449   10             321            80              
 LWSS357   306860   7757553   10             695            210             
 LWSS358   306999   7756369   10             118            40              
 LWSS359   307628   7757575   10             186            70              
 LWSS360   307631   7757707   10             288            60              
 LWSS361   308082   7757860   10             66             10              
 LWSS362   310752   7758027   10             73             10              
 LWSS363   310768   7757374   10             234            50              
 LWSS387   315175   7747119   20             9              10              
 LWSS388   314838   7746642   20             19             10              
 LWSS389   314882   7746209   10             6              10              
 LWSS390   315960   7746391   30             8              10              
 LWSS391   316127   7746489   20             6              10              
 LWSS392   303396   7763735   10             222            130             
 LWSS393   302950   7763679   10             77             20              
 LWSS394   303018   7763551   10             136            30              
 LWSS395   303268   7763015   10             151            40              
 LWSS396   301531   7762367   10             37             10              
 LWSS397   301495   7761879   10             5              10              
 LWSS398   302744   7761951   10             70             10              
 LWSS399   302960   7761777   10             59             10              
 LWSS400   305221   7762763   10             397            110             
 LWSS401   305347   7762407   10             164            30              
 LWSS402   312624   7757384   10             894            290             


FOR FURTHER INFORMATION, PLEASE CONTACT:

ECR Minerals plc

David Tang, Non-Executive Chairman

Andrew Haythorpe, CEO

Email: info@ecrminerals.com 
(mailto:info@ecrminerals.com) 
Website: www.ecrminerals.com 
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