REG - ECR Minerals PLC - Geological Survey of Queensland Collaboration

ECR MineralsAnnouncement

03/10/2024 07:00

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RNS Number : 7359G  ECR Minerals PLC  03 October 2024

3 October 2024

 

ECR MINERALS PLC

 

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

 

Collaboration with Geological Survey of Queensland on Lolworth Project

ECR Minerals plc (LON: ECR), the exploration and development company focused
on gold in Australia, is pleased to announce it is working in partnership with
the Geological Survey of Queensland ("GSQ") to further investigate the
critical minerals potential at the Company's Lolworth Project.

HIGHLIGHTS

 

●     Site visit and sample collection undertaken by GSQ in September
2024

●     Samples to undergo geochemical analysis for critical minerals
including Niobium and Tantalum

●     Work is being undertaken at no cost to ECR Minerals

●     Data will provide valuable insights and help guide further
exploration initiatives at the Lolworth Project

 

Geological Survey of Queensland

The GSQ is the state's custodian of geoscience knowledge as well as data and
provides advice regarding Queensland's mineral and energy resources and
resource potential. GSQ plays a key role in attracting investment to
Queensland's resources sector by improving understanding of the state's
prospectivity and resource potential.

Lolworth Project, Queensland

In September 2024, ECR Minerals was approached by the GSQ to undertake an
evaluation of the critical minerals potential at some of the Company's
prospect areas at the Lolworth Gold and Rare Earths Project in Queensland. A
site visit, which included mapping and the collection of rock chip samples,
took place predominantly at the Oaky Creek prospect in the central-north area
of the Lolworth Project. Stream sampling in this area has previously detected
Niobium in concentrate samples. Geochemical analysis will be carried out by
the GSQ on pegmatites to better understand their fertility for hosting
critical minerals, in particular Niobium and Tantalum. Results are expected in
the coming weeks.

Stream sampling by ECR Minerals' own field crews for rare earths on the
eastern side of the 1,000 km² project area is almost complete. Regional
geological mapping has indicated the presence of significant pegmatitic
intrusions. As previously announced by the Company, a bulk sample has been
taken from the Oaky Creek Niobium streamline which will be used for
mineralogical purposes to aid in tracking down the source rock.

Adam Jones, ECR's Chief Geologist, said: ''We've been saying for some time
that the Lolworth Project has significant potential for critical minerals and
I'm delighted that the GSQ has formed a similar opinion and is now assisting
us as we get a better handle on its geology. The work currently being done by
the GSQ, which is at no cost to ECR, will provide an invaluable second opinion
and verification of our own findings and will help guide our next steps. I'm
looking forward to receiving the results which will give us an indication as
to just how prospective for critical minerals the source rocks are. I would
like to thank the GSQ for the work they're undertaking as we continue to
develop the Lolworth Project into an asset which could become significant not
just for ECR but potentially also for the state of Queensland."

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) 1738 317 693
 Nick Tulloch, Chairman

 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)

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 Nominated Adviser                                                                                                                                                                                                                                                    info@allenbycapital.com (mailto:info@allenbycapital.com)

 Nick Naylor / Alex Brearley / Vivek Bhardwaj

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 Broker
 Ben Tadd / Lewis Jones

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 Nick Emerson

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 Public & Investor Relations
 Alan Green

 

Glossary

 

 km:    Kilometres (Metric)
 km²:   Kilometre squared (Metric)

 

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

 

MGA also has approximately A$75 million of unutilised tax losses incurred
during previous operations.

 

 

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