REG - ECR Minerals PLC - Update on Planned Drilling at Creswick

ECR MineralsAnnouncement

11/12/2023 07:15

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RNS Number : 2530W  ECR Minerals PLC  11 December 2023

ECR MINERALS plc

("ECR Minerals" or the "Company")

Update on Planned Drilling at the Creswick Project

ECR Minerals plc (LON:ECR), the exploration and development company focused on
gold in Australia, is pleased to announce that its subsidiary, Mercator Gold
Australia Pty Ltd, has engaged a drilling contractor, on standard commercial
terms, to undertake ECR Mineral's proposed drilling programme within the
Creswick gold project in central Victoria, Australia.

The proposed drill campaign will focus on two prospect locations respectively
known as Kuboid Hill and Davey Road (see Figure 1 below). Both prospects have
proven to contain evidence of gold from previous soil analysis and rock chip
sampling.

Figure 1: Creswick Gold Project

As previously announced, all necessary permits and drilling permissions from
the relevant governmental authorities have been submitted and the Directors
are now just waiting for right of access to the site, which is anticipated to
be a simple procedural step, whereupon drilling is expected to commence very
shortly. It is currently anticipated that drilling will commence at Creswick
by the end of the current calendar year.

The Company expects that approximately 1,200 metres of reverse circulation
drilling in aggregate will be completed at around 10 - 12 locations at
Creswick.  Following drilling, and allowing for laboratory closures over the
holiday period, assay results are anticipated to be available midway through
the first quarter of 2024.

Further updates will be provided in due course.

FOR FURTHER INFORMATION, PLEASE CONTACT:

 

 ECR Minerals plc                                                                                                                                                                                                                                           Tel: +44 (0) 20 7929 1010
 David Tang, Non-Executive Chairman

 Nick Tulloch, Managing Director

 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)

 WH Ireland Ltd                                                                                                                                                                                                                                             Tel: +44 (0) 207 220 1666
 Nominated Adviser

 Katy Mitchell / Andrew de Andrade

 SI Capital Ltd                                                                                                                                                                                                                                             Tel: +44 (0) 1483 413500
 Broker
 Nick Emerson

 Novum Securities Limited                                                                                                                                                                                                                                   Tel: +44 (0) 20 7399 9425
 Broker

 Jon Belliss

 Brand Communications                                                                                                                                                                                                                                       Tel: +44 (0) 7976 431608
 Public & Investor Relations
 Alan Green

 

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 km2 over a
relatively unexplored area in Lolworth Range, Queensland, Australia. The
Company has also submitted a license application at Kondaparinga which is
approximately 120km2 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), 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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