REG-ECR Minerals plc Potential Exploration Targets Defined from LIDAR Survey at Hurricane Project

ECR MineralsAnnouncement

12/07/2023 12:30

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Potential Exploration Targets Defined from LIDAR Survey at Hurricane Project

 

ECR MINERALS plc

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

Potential Exploration Targets Defined from Recently Completed LIDAR Survey at
the Hurricane Project, North Queensland

ECR Minerals plc (LON: ECR), the exploration and development company focused
on gold in Australia is pleased to announce it has received data from the
recently completed LIDAR survey at exploration tenements (EPM 27518, EPM 25855
and EPM 19437) located in NE Queensland, together known as the Hurricane
Project (“Hurricane Project”). Interpretation of the LIDAR data shows
potential outcrops along strike at the existing Gold and Antimony mineralised
quartz breccias known as the Tornado, Cyclone and Holmes prospects.

HIGHLIGHTS


 * Aerial LIDAR survey completed over exploration tenements EPM 27518, EPM 25855
and EPM 19437, together known as the Hurricane Project.

 * Interpretation of LIDAR shows resistant ridgeline structures along strike at
the existing Gold and Antimony mineralised quartz breccias known as the
Tornado, Cyclone and Holmes prospects. The Board believes that the structures
could also host other mineralised breccias that have yet to be explored.

 * A follow up site visit to evaluate the identified structures with rock chip
sampling will take place in August 2023.

ECR CEO Andrew Haythorpe commented: The ECR board are acutely aware of the
impact that challenging markets are currently having on our shareholders, and
I am therefore pleased to be able to report solid progress at our Hurricane
project, with some high resolution detail generated by the recent LIDAR
survey. This is a project that I personally have detailed knowledge of and am
vested in through work undertaken prior to my joining ECR as CEO. Our plan is
to get boots back on the ground next month in order that we can firm up what
the historical data, early fieldwork and the LIDAR findings have led us to
believe – which is that Hurricane is a later stage gold and antimony
property with exceptional near-term development potential.”

“I look forward to reporting on progress in the coming weeks and months.”

The extent of the LIDAR survey with the regional structural trends and known
prospects can be found here:

Figure One: https://www.ecrminerals.com/images/2023/Fig1_230711.png
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.ecrminerals.com%2Fimages%2F2023%2FFig1_230711.png&esheet=53450975&newsitemid=20230712289615&lan=en-US&anchor=https%3A%2F%2Fwww.ecrminerals.com%2Fimages%2F2023%2FFig1_230711.png&index=1&md5=4462bd0a2b199ede30cb2b812aab9a0f)

Interpreted outcrops along strike of known mineralisation at Hurricane can be
found here:

Figure Two: https://www.ecrminerals.com/images/2023/Fig2_INSERT_230711.png
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.ecrminerals.com%2Fimages%2F2023%2FFig2_INSERT_230711.png&esheet=53450975&newsitemid=20230712289615&lan=en-US&anchor=https%3A%2F%2Fwww.ecrminerals.com%2Fimages%2F2023%2FFig2_INSERT_230711.png&index=2&md5=4b67d007cd88e32a890926be2371366c)

LIDAR SURVEY

The LIDAR (Light detection and ranging) survey is a well proven aerial survey
method that sends out thousands of laser points to map the undulations of the
ground surface in incredible detail. The initial Hurricane project LIDAR
survey took place over an area of 50 square kilometres during the May to June
in order to evaluate the terrain and plan for drill access to the Tornado,
Cyclone and Holmes prospects (see Figure One above).

INTERPRETATION OF LIDAR DATA

The processing of the LIDAR data has revealed a number of such topography
highs along strike at the Tornado, Cyclone and Holmes prospects (see Figure
Two above), and in particular we are pleased to note that the weathering of
the rock surrounding these known mineralised quartz breccias and stockwork
veins has produced detailed, high resolution topography pictures. Although the
Company cannot confirm that the outcrops identified from LIDAR host any
mineralisation at this juncture, historically LIDAR interpretations generally
represent a cost and time effective way to identify targets with potential for
extensions to mineralisation, and these results add to our confidence in the
project potential.

NEXT STEPS

The geology team have now scheduled a ‘boots on the ground’ field visit to
investigate these targets during August. The targets will be mapped and rock
chip samples will be taken to evaluate any mineralisation at the delineated
targets, and also to provide additional targets for follow-up drilling.

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.

FOR FURTHER INFORMATION, PLEASE CONTACT:
 ECR Minerals plc                                                                                                                                                                                                                                            Tel: +44 (0) 20 7929 1010         
 David Tang, Non-Executive Chairman                                                                                                                                                                                                                                                            
 
                                                                                                                                                                                                                                                                                             
 
Andrew Haythorpe, 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=53450975&newsitemid=20230712289615&lan=en-US&anchor=www.ecrminerals.com&index=3&md5=75fe5eb1d113939bfd8719bb22c8a1da)                                                                         
                                                                                                                                                                                                                                                                                               
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 SI Capital Ltd                                                                                                                                                                                                                                              Tel: +44 (0) 1483 413500          
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 Novum Securities Limited                                                                                                                                                                                                                                    Tel: +44 (0) 20 7399 9425         
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Jon Belliss                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                               
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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 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.



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