ECR Minerals PLC Drilling Underway at the Creswick Project (4784W)
December 12 2023 - 4:50AM
UK Regulatory
TIDMECR
RNS Number : 4784W
ECR Minerals PLC
12 December 2023
ECR MINERALS plc
("ECR Minerals" or the "Company")
Drilling Underway at the Creswick Project
ECR Minerals plc (LON:ECR), the exploration and development
company focused on gold in Australia, is pleased to announce that
further to the announcement of 11 December 2023 (link here ), the
Company has confirmed that access to the relevant sites has been
granted and accordingly reverse circulation ("RC") drilling
programme has commenced at the Creswick gold project in central
Victoria, Australia.
Drilling is underway at Kuboid Hill and Davey Road prospects
(See Figure 1 below), both of which have previously provided
evidence of gold mineralisation from soil analysis and rock chip
sampling.
Figure 1: Creswick Gold Project
As previously announced, the C ompany 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.
ECR Chief Operating Officer Mike Whitlow commented: "In less
than 12 weeks, the Company has gone through a complete step change
in approach. We have sufficient resources and budget for activities
that will take us well into 2024, and whilst it's exciting to be
drilling, it's more encouraging to be a part of a multifaceted
approach which we believe will create shareholder value."
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
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).
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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END
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