ECR MINERALS PLC: Approval Received For Two Further Exploration Tenements in Victoria, Australia
January 03 2023 - 1:38AM
UK Regulatory
TIDMECR
ECR MINERALS plc
("ECR Minerals", "ECR" or the "Company")
Approval Received For Two Further Exploration Tenements in
Victoria, Australia
ECR Minerals plc (LON: ECR), the exploration and development
company focused on gold in Australia, is pleased to announce it has
received approval for two new exploration tenements in Victoria,
Australia.
HIGHLIGHTS
-- New tenement EL007296 now completes the total exploration package at
Bailieston, Victoria.
-- New Creswick tenement EL006713 effectively connects EL006184 and
EL006907, creating a continuous land package from ECR's Springmount
property south through to the outskirts of Ballarat.
ECR CEO Andrew Haythorpe commented: "This is a great start to
2023 for our Company. The new Bailieston tenements effectively
cover the strike extension of the Bailieston Anticline, providing
us with an opportunity to continue with the Blue Moon drill
campaign and push further west. The new Creswick tenement means
that our land package there now provides almost uninterrupted land
access from our Springmount property to the outskirts of Ballarat,
which given our field team believe they have identified a new
parallel gold system at Davey Road and South Davey (see December 23
2022 announcement here) should now mean we can fully explore these
anomalies through to their origin."
"Our field teams will be on the ground on our new tenements
during Q1 2023, and I very much look forward to reporting on
progress."
The location of the new tenements can be found here:
Figure 1:
https://www.ecrminerals.com/images/2023/Fig1_New_Tenements_230102.png
EL0007296 and EL006713 have been formally approved by the
Victorian Government as of the 28(th) December 2022. Initial ground
activities such as mapping, soil and rock chip sampling will begin
in early 2023.
EL007296 adjoins EL5433 and covers the strike extension of the
Bailieston Anticline. Known mineralisation occurring across the
Bailieston prospects at HR3, Cherry Tree and Blue Moon are closely
related to this anticline, and to date, there is no record of any
exploration taking place within these new tenements.
EL006713 is located between ECR's two other approved tenements
EL006184 and EL006907 at Creswick, and effectively creates a
continuous land package from ECR's Brewing Lane property at
Springmount south through to the outskirts of Ballarat. The
approval of EL006713 means that on-ground exploration activities
such as soil sampling and rock chips can now begin, with initial
targets focusing on the proposed strike of quartz veins which the
Board believe are hosted within the Dimocks Main Shale. In
addition, the source of the alluvial gold within the western
headwaters of the Madame Berry Deep Lead may reside within this new
tenement.
Table 1: ECR Minerals current exploration tenements (granted and
applied), Victoria, Australia (as of January 2023)
Tenement Name Granted Expiry Area (km(2) )
EL5433 Bailieston 28/03/2013 27/03/2023 23
EL006184 Old Creswick 29/12/2016 *Renewal applied 45
EL006907 South Creswick 26/11/2021 25/11/2026 81
EL007484 Boucher Town 26/11/2021 25/11/2026 374
EL006911 Graytown 1 5/12/2022 4/12/2027 10
EL006912 Graytown 2 8/12/2022 7/12/2027 77
EL006713 New Creswick 28/12/2022 27/12/2027 66
EL007296 Wirrate 28/12/2022 27/12/2027 32
EL007486 Ramrod Creek in application (322)
EL007537 Ballarat Competing application (138)
TOTAL granted (km(2) ) 708
(...) notes exploration area in square kilometres.
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
Website: www.ecrminerals.com
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). 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.
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.
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
View source version on businesswire.com:
https://www.businesswire.com/news/home/20230103005243/en/
CONTACT:
ECR Minerals plc
SOURCE: ECR Minerals plc
Copyright Business Wire 2023
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