REG-ECR Minerals plc Update on Sampling at Lolworth, Queensland

ECR MineralsAnnouncement

04/10/2022 08:30

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Update on Sampling at Lolworth, Queensland

 

ECR MINERALS plc

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

Update on Sampling at Lolworth, Queensland

ECR Minerals plc (LON: ECR), the exploration and development company focused
on gold in Australia, is pleased to announce an update on the stream sediment
sampling campaign currently in progress on its tenements at Lolworth Range,
North Queensland, Australia.

ECR Minerals plc 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


 * Program well ahead of schedule

 * Close to 75% complete

 * More than 91 samples have been despatched and awaiting results from the
laboratory.

Follow-up sampling work is continuing

ECR CEO Andrew Haythorpe commented: “Although it is early in the planned
exploration schedule, we’ve made a very encouraging start to what will be a
detailed and exhaustive exploration programme. Once the remaining samples have
been collected and documented, we will then move to establish a shortlist of
targets for further exploration.”

“I look forward to reporting shortly our conclusions once the remaining
sampling work has been completed.’’

PROJECT OVERVIEW

The Lolworth Range project is located approximately 120km west of the
historically famous Charters Towers gold district. ECR Minerals owns three
Exploration tenements covering a total area of 964 km(2). The area encompasses
the Lolworth Range, a region comprising of similar rocks that host world class
gold deposits such as Charters Towers and the historic Mt Leyshon Mine
(>2.5 million ounces).

In 1987-1988, a stream sediment survey was undertaken by previous explorers
ARI Ltd under permit ATP4855M. Their investigations identified numerous
anomalous streams within Lolworth Range containing not only visible gold, but
also minerals such as tin and tungsten. Research by ECR Minerals geologists
established that no follow-up exploration of any note had been undertaken
since the work under the ATP4855M permit, mostly likely due to the relatively
inhospitable terrain. It is for this reason that ECR Minerals pegged this
ground in 2021.

UPDATE ON INITIAL STREAM SAMPLING PROGRAM

ECR planned for 210 samples to be taken using a heavy mineral concentration
method by panning, following up on the initial work undertaken by ARI Ltd in
1987-1988. ECR’s current sampling campaign is duplicating previous works to
confirm ARI’s historical results, but the campaign is also following the
best recorded results further up-stream towards possible sources of
mineralisation.

To date, More than 91 out of the initial planned 210 samples have been sent to
the laboratory for analysis.

The completed samples are now at the ALS Laboratory located in the nearby
Queensland city of Townsville. Due to the current demand on Australian
laboratories, we are not expecting the results back until the end of October.

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                                                                                                                                                                                                                                                                  
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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.

https://mercatorgold.com.au/
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fmercatorgold.com.au%2F&esheet=52935729&newsitemid=20221004005576&lan=en-US&anchor=https%3A%2F%2Fmercatorgold.com.au%2F&index=2&md5=d7580de9f67a184819987682e75e2142)

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.

https://luxexploration.com/
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fluxexploration.com%2F&esheet=52935729&newsitemid=20221004005576&lan=en-US&anchor=https%3A%2F%2Fluxexploration.com%2F&index=3&md5=1744cfbe0489bd4a0ae284222338308c)

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 70% 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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ECR Minerals plc


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