ECR Minerals plc Update on Windidda Project, Western Australia
January 27 2020 - 1:00AM
UK Regulatory
TIDMECR
ECR MINERALS plc("ECR Minerals", "ECR" or the "Company")
UPDATE ON WINDIDDA PROJECT, WESTERN AUSTRALIA
ECR Minerals plc (LON: ECR), the precious metals exploration and
development company, is pleased to provide an update on the
Windidda project in Western Australia which is held by ECR's wholly
owned Australian subsidiary Mercator Gold Australia Pty Ltd
("MGA").
HIGHLIGHTS:
-- ECR's 100%-owned Australian subsidiary MGA has been granted four exploration licences in the north-eastern Yilgarn region of Western Australia;
-- The licences form part of the Windidda project, which is now considered to be potentially prospective for komatiite hosted Ni-Cu-PGE as well as orogenic gold;
-- MGA has commissioned a consultant to complete additional geophysical modelling and review of historical activity reports for areas to the south of Windidda in order to better understand the potential prospectivity of the project.
Craig Brown, Chief Executive Officer, commented:
"ECR has had a busy start to the year, with work in progress in
relation to the Windidda project in Western Australia, which is now
considered to be potentially prospective for nickel-copper-PGE
mineralisation as well as orogenic gold, and planning underway for
fieldwork in the Bailieston gold project area in Victoria to
commence in February.
We also continue to review a number of potential new projects
and strategic developments for the Company, and will of course
provide updates to the market as appropriate."
Windidda Project Update
The Company's 100%-owned Australian subsidiary MGA has
commissioned a consultant to complete the following work in order
to better understand the potential prospectivity of the Windidda
project and the depth of cover:
Recent preliminary research into the geological setting of the
project suggests that the southern parts are potentially
prospective for komatiite hosted nickel-copper-PGE (platinum group
element) mineralisation. Approximately 12km from the southernmost
exploration licence application at Windidda, Rox Resources Ltd has
estimated a JORC (2012) Inferred Mineral Resource of 573,000t at
1.63% nickel, 1.19% copper, 0.082% cobalt, 1.49 g/t palladium and
0.85 g/t platinum for the Olympia deposit within Rox's Collurabbie
project (see www.roxresources.com.au).
In late 2018, MGA applied for a total of nine exploration
licences to comprise the Windidda project, of which four have now
been granted. The remaining five licence applications are subject
to objections to the expedited grant procedure from native title
parties. MGA is considering its options in this regard, and may
decide to rationalise the Windidda tenement package in light of the
native title objections and the findings of ongoing technical
work.
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
Website: www.ecrminerals.com
WH Ireland Ltd Tel: +44 (0)161 832 2174
Nominated Adviser
Katy Mitchell/James Sinclair-Ford
SI Capital Ltd Tel: +44 (0)1483 413500
Broker
Nick Emerson
ABOUT ECR MINERALS PLC
ECR is a mineral exploration and development company. ECR's
wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd
has 100% ownership of the Avoca, Bailieston, Creswick, Moormbool
and Timor gold exploration projects in central Victoria, Australia
and the Windidda project in the Yilgarn region, Western
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 the Philippines. An
NI43-101 technical report was completed in respect of the Danglay
project in December 2015 and is available for download from ECR's
website.
ECR's wholly owned Argentine subsidiary Ochre Mining has 100%
ownership of the SLM gold project in La Rioja, Argentina.
Exploration at SLM has focused on identifying small tonnage
mesothermal gold deposits which may be suitable for relatively
near-term production.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20200126005031/en/
This information is provided by Business Wire
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