REG-ECR Minerals plc Property Purchase within the Creswick License Area
02/09/2021 07:00
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Property Purchase within the Creswick License Area
ECR MINERALS plc
(“ECR Minerals”, “ECR” or the “Company”)
Property purchase within the Creswick License Area
ECR Minerals plc (LON: ECR), the gold exploration and development company
focused on Australia, is pleased to announce that its 100% owned Australian
subsidiary, Mercator Gold Holdings Pty Ltd (“MGA”), has purchased a
property at 35 Brewing Lane, Springmount, Australia (the “Property”),
subject only to the payment of the completion monies. The Property is located
within the Company’s existing 100% owned Creswick license area.
It is anticipated that monies will be paid, and completion will occur, on or
around 27 September 2021, and further updates will be provided at that time.
Highlights:
* The property consists of 16 acres, within the 45 square kilometre Creswick
license area in Victoria, Australia
* The property is held over three titles
* The Property will provide a base for activities across the license area as ECR
advances its drilling programmes and, when appropriate will be the site for
development for the mine decline
* The purchase price of the property is AUD500,000, which is to be settled in
two tranches, consisting of a AUD$$50,000 deposit which has already been paid
and the balance to be paid on 27 September 2021. The purchase will be funded
by the Company’s existing cash resources. The Group has £4,222,940 in cash
after paying the deposit. This is the equivalent of USD5,824,631.
Craig Brown, Chief Executive Officer commented: “Following the positive
progress of the drilling programme at Creswick, we are pleased to announce the
purchase of the Brewing Lane property (subject only to payment of the
settlement monies) which sits in our existing license area. Following
completion we intend that the property will provide the Company with an
operational base and, in future, can be developed as a site for the decline
access to existing, and potential, vein mineralisation.
“Earlier this year, we reported strong results from the ongoing/current
drilling programme at the Creswick license which has continued to delineate
gold mineralisation along strike, with all assayed holes returning gold (see
announcement dated 19 July 2021). Of particular significance are holes CSD003
and CSD004 which returned 9.93 g/t and 23.58 g/t gold, respectively.”
“I remain enthused by the pace of developments at Creswick, Bailieston and
our other assets, and look forward to receiving the remaining assay results at
Creswick and reporting on progress.”
The property was purchased from a private individual.
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=52485465&newsitemid=20210901006074&lan=en-US&anchor=www.ecrminerals.com&index=1&md5=518498db1528589596cdd5c7fca9a6e5)
WH Ireland Ltd Tel: +44 (0) 161 832 2174
Nominated Adviser
SI Capital Ltd Tel: +44 (0) 1483 413500
Broker
Nick Emerson
Novum Securities Limited Tel: +44 (0) 20 7399 9425
Broker
Jon Belliss
Blytheweigh Tel: +44 (0) 207 138 3204
Public Relations
Tim Blythe
ABOUT ECR MINERALS PLC
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 eight licence applications outstanding including two
licence applications lodged in eastern Victoria. (Tambo gold project). MGA is
currently drilling at both the Bailieston and Creswick projects and has an
experienced exploration team with significant local knowledge in the Victoria
Goldfields and wider region.
https://mercatorgold.com.au/
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fmercatorgold.com.au%2F&esheet=52485465&newsitemid=20210901006074&lan=en-US&anchor=https%3A%2F%2Fmercatorgold.com.au%2F&index=2&md5=8a6350b5e80b9cab5509807bfead7395)
ECR also owns 100% of an Australian subsidiary LUX Exploration Pty Ltd
(“LUX”) which has three licence applications covering 900 km2 covering a
relatively unexplored area in Queensland, Australia.
https://luxexploration.com/
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fluxexploration.com%2F&esheet=52485465&newsitemid=20210901006074&lan=en-US&anchor=https%3A%2F%2Fluxexploration.com%2F&index=3&md5=4580dc518bfdc947476ab9a98dfca84e)
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 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, 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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