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Australian Gold – Business Update

--(BUSINESS WIRE)--LONDON 

27 September 2019

ECR MINERALS plc

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

Australian Gold – Business Update

(LON:ECR), the precious metals exploration and development company, is pleased to provide a business update for shareholders covering the Company’s Australian gold interests.ECR Minerals plc

“During the summer months the ECR team have been heads down and working hard across multiple areas of the business and we expect to be able to provide multiple updates in respect of field exploration and corporate development activities across our business in the near future., Chief Executive Officer commented:Craig Brown

“Given the extent of activities and to keep shareholders informed we felt it would be opportune to provide an update of the key areas of progress, notably in respect of the Company’s Western Australia Windidda gold project and also in respect of progress at Creswick gold project which is within our large and strategic landholding in the heart of the Victoria Goldfields and where the Company has highly active operations.”

HIGHLIGHTS:

()Windidda Gold ProjectWestern Australia

()Creswick Gold ProjectVictoria

Other Gold Projects ()Victoria

The Company is highly proactive across its Victorian Goldfields projects, with the current key activities summarised below.

Blue Moon Prospect,Bailieston Gold Project

HR3 Area,Bailieston Gold Project

Henry’s Hill Gold Prospect -Avoca Project

Timor Gold Project

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 (RIS), this inside information is now considered to be in the public domain.Regulatory Information Service

FOR FURTHER INFORMATION, PLEASE CONTACT:

ABOUTECR MINERALS PLC

ECR is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary has 100% ownership of the Avoca, Bailieston, Creswick, Moormbool and Timor gold exploration licences in central and the in the , .Mercator Gold Australia Pty LimitedWindidda Gold ProjectVictoria, AustraliaYilgarn RegionWestern Australia

ECR has earned a 25% interest in the Danglay epithermal gold project, an advanced exploration project located in a prolific gold and copper mining district in the north of . An NI43-101 technical report was completed in respect of the Danglay project in and is available for download from ECR’s website.the PhilippinesDecember 2015

ECR’s wholly owned Argentine subsidiary Ochre Mining has 100% ownership of the SLM gold project in , . Exploration at SLM has focused on identifying small tonnage mesothermal gold deposits which may be suitable for relatively near-term production.La RiojaArgentina

ECR Minerals plc

Source:ECR Minerals plc

  • The Company’s wholly owned Australian subsidiary has submitted applications over 1,600 sq km of the Yilgarn Craton as announced on ;2 January 2019
  • The application process is progressing, with all 9 exploration licence applications having now been advertised in line with local requirements;
  • The Company is closely monitoring the tenement application process, which is being handled through a local tenement management consultant;
  • ECR has been approached by a listed mineral exploration company seeking to farm into the project, and although we have not decided to proceed with this farm-in proposal at this time, we are encouraged to see the interest being shown by third parties at such an early stage.
  • Whole-of-bag testing process has now been completed successfully and remaining samples have been sent to the laboratory for assay testing;
  • Partial assay results released on demonstrated a substantial increase in gold grade on average in respect of the 17 samples tested;27 August 2019
  • A further 113 samples, which for completeness included samples believed to be of lower grade, have been sent to the laboratory for assay testing with results expected to be received in the near future.
  • Following a reverse circulation drilling programme at Blue Moon prospect resulting in gold grades of up to 17.87g/t ECR formally announced a new gold discovery on . Blue Moon is a flagship project for the Company and we are working to agree access with landowners to enable us to continue drilling to the west where our work indicates gold mineralisation may intensify.1 May 2019
  • Preparation of a detailed 3D geological model for the HR3 area has been undertaken over the summer months and is nearing completion. When complete the model is expected to generate numerous high priority drilling targets.
  • Geological mapping and soil geochemistry has been completed in line with the Company’s announcement of with approximately 200 samples collected during the field exploration. Geochemical analysis of the samples is to be undertaken shortly.14 August 2019
  • On the Company announced the results of rock chip sampling with grades of up to 22.6 g/t. The data gathered from the rock chip sampling programme, together with historic exploration data, has confirmed the prospectivity of the Timor gold project and the Company is now reviewing a potential drill programme over the key target areas.6 August 2019

ECR Minerals plc

 

Tel: +44 (0)20 7929 1010

, Non-Executive ChairmanDavid Tang

, Director & CEOCraig Brown

Email:[email protected]

Website:www.ecrminerals.com

 

WH Ireland Ltd

Tel: +44 (0)161 832 2174

Nominated Adviser

/Katy MitchellJames Sinclair-Ford

 

SI Capital Ltd

 

Tel: +44 (0)1483 413500

 

Broker

 

 

 

Nick Emerson

 

 

 

 

 

 

Quick facts: ECR Minerals PLC

Price: 0.77

Market: AIM
Market Cap: £4.25 m
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