ECR Minerals plc is pleased to draw attention to the news release made
yesterday by THEMAC Resources Group Ltd ("THEMAC") in which THEMAC
provided an update in relation to its Copper Flat
copper-molybdenum-gold-silver project in New Mexico, USA. THEMAC is
currently preparing a preliminary feasibility study (PFS) for the Copper
Planned increase in milling rate to 25,000 short tons per day (tpd)
from 17,500 tpd whilst retaining the same mill footprint and utilizing
The results of ongoing metallurgical testwork suggest that mill
recoveries for copper and silver can be increased above historical
levels, which exceed 90%, and that gold and molybdenum recoveries can
also be improved
Testwork scheduled to be completed during the second quarter of 2012
for inclusion in the Copper Flat PFS
The full release made by THEMAC can be viewed on SEDAR (www.sedar.com).
The highlights above have been derived from the release made by THEMAC
and should be read and interpreted in conjunction with it.
THEMAC holds a 100% ownership interest in the Copper Flat project having
purchased an exclusive option over the project from ECR in March 2011
and completed the exercise of this option in May 2011.
Patrick Harford, Managing Director of ECR Minerals plc, comments:
"This increase in mill throughput represents a substantial increase in
the scale of the Copper Flat project, and should noticeably improve the
economics of the project as set out in the finished PFS.
The potential to achieve a higher rate of gold recovery is particularly
exciting in view of ongoing work intended to generate additional
NI43-101 compliant gold and silver resources at Copper Flat, building on
the figures of approximately 400,000 ounces of gold and 9 million ounces
of silver announced by THEMAC in January of this year."
ECR's Interest in THEMAC
ECR currently has a holding of 14.35 million shares and 14.35 million
warrants of THEMAC, which is listed on the TSX Venture Exchange (code:
MAC). ECR's holding is equivalent to approximately 19% of THEMAC's
issued shares (21% fully diluted). All the warrants held by ECR are
exercisable at C$0.28 per share; 3.85 million warrants are valid until 3
May 2013 and the remaining 10.5 million warrants are valid until 4 March
2016. The closing price of THEMAC shares on 19 March 2012 was C$0.82.
About ECR Minerals plc
ECR is a mineral development company with interests in Argentina, the
USA, Indonesia, Thailand and Australia.
ECR Minerals plc Michael Silver, Chairman Patrick
Harford, Managing Director Stephen Clayson, Director & Chief
Financial Officer Luca Tenuta, Non-Executive Director +44
(0)20 7929 1010 or email@example.com or www.ecrminerals.com or Daniel
Stewart & Company plc Paul Shackleton/Tessa Smith/David
Hart, +44 (0)20 7776 6550 or Old Park Lane Capital plc Michael
Parnes, +44 (0)20 7493 8188 or Blythe Weigh Communications Matthew
Neal/Tim Blythe/Paul Weigh, +44 (0)20 7138 3204 or Barry
Kaplan Associates Larry Kaplan, +1 732 747 0702
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