Rns15 Aug 2018 09:10
LONDON--(BUSINESS WIRE)--
ECR MINERALS plc
(“ECR Minerals”, “ECR” or the “Company”)
ARGENTINA PROGRESS UPDATE
ECR Minerals plc (LON:ECR) the precious metals exploration and development company is pleased to provide an update to shareholders following the visit by the Company to Argentina to discuss the status and plans in respect of the Company’s existing interests and also to consider potential new opportunities in Argentina that may complement existing interests.
The Company previously outlined the latest position in respect of Argentinian operations in its full year report released 29 March 2018. Then, despite having established a next stage exploration programme for the Sierra de las Minas (“SLM”) gold prospective licences, reflecting the need to conserve cash resources and to consider various corporate developments in the area of the Company’s operations, the Company decided to watch developments and conserve resources for a period.
During the visit to Argentina a full review of the SLM project licences was undertaken, including relevant liaison with the Ministry of Mining in La Rioja province. We are pleased with the outcome of this review and the opportunities we have identified for exploration of potentially high-grade gold mineralisation. With the Company’s enhanced financial strength we have now restarted our work and further information will follow with regard to the specific work programme we intend to implement.
Of particular interest during the Company’s visit we have identified additional licence areas that could complement the existing gold prospective ground and we will provide further updates in due course if there are any developments in this area.
Furthermore during a review of additional, non-gold focused projects, the Company has identified a number of completely new opportunities including a lithium and poly-metallic high impact exploration opportunity. Again, if these progress then we will provide further updates.
Craig Brown, Chief Executive Officer of ECR Minerals plc, commented: “Following the Company’s recent fundraise the business, as previously highlighted, is in a robust financial position. With our significant cash at bank and with core costs covered into late 2019 we have been able to look with fresh eyes at all the Company’s interests in order to advance existing projects and also seek new additional complementary opportunities.
Our main driving force of late has been Australian exploration and that will continue with the Board currently in Perth to review progress in our existing Victoria interests, to undertake due diligence in respect of the recently announced Iceberg gold project and to review a number of new and potential opportunities.
ECR has a long history of working in South America and particularly Argentina. We visited Argentina last week and held various meetings and discussions.
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