Last checked at 27 Sep 2023 11:07
ECR MINERALS plc
("ECR Minerals", "ECR" or the "Company")
Additional License Application at Kondaparinga, Queensland
ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce that it has, through its subsidiary Lux Exploration Pty Limited, submitted an application for an Exploration License (EPM28910). The license area, known as Kondaparinga ("Kondaparinga"), is approximately 120km2 in area (see Figure One below) and within the Hodgkinson Gold Province, 80km NW of Mareeba, North Queensland, Australia. The 3-year exploration term would include an expenditure commitment of AUD$487,000 over that period.
The Company's geological team have examined other parts of the region for potential anomalous areas for gold, with this work being primarily based on the publicly available Queensland Government Geochemistry Database (QDEX). The exploration license application for Kondapringa EPM28910 was registered on 23 September 2023. The application will be assessed by government officials and work on the ground will not commence until the application has been granted. Whilst there can be no guarantee that the licence will be granted, the Directors have every expectation it will be.
If granted, the proposed exploration programme will aim to verify the historic stream results and if successful, a detailed survey programme will follow. The initial target areas identified are referenced on Figure One below and are spatially associated to the regional fault structures known as Hurricane Fault and Black Hill Fault, with the anomalous target areas shown in the green halo.
Fig 1: EPM28910 application area:
https://www.ecrminerals.com/images/2023/Fig1_RNS-EPM28910_AP.png
ECR Chief Operations Officer Mike Whitlow added: "Kondaparinga is an exciting opportunity for ECR that adds a new dimension to our work in North Queensland. We have looked for sufficient geological benchmarks and features in the region that we have already come to know well with the objective of securing prospective ground on favourable terms that has the potential to be a valuable addition to our portfolio."
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 Nick Tulloch, Managing Director Andrew Scott, Director | ||||
Email: info@ecrminerals.com | ||||
Website: www.ecrminerals.com | ||||
WH Ireland Ltd |
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Nominated Adviser Katy Mitchell / Andrew de Andrade | ||||
SI Capital Ltd | Tel: +44 (0) 1483 413500 | |||
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Nick Emerson | ||||
Novum Securities Limited | Tel: +44 (0) 20 7399 9425 | |||
Broker Jon Belliss | ||||
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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 also has an option to acquire 100% of Placer Gold, which wholly owns the Hurricane Project, a later stage gold and antimony project located west of Cairns in the Hodgkinson Province, NE 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.