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Drilling to Commence at Itogon Gold Project in January 2015

22 Dec 2014 10:39

ECR MINERALS plc

(“ECR Minerals”, “ECR” or the “Company”)

AIM: ECR

US OTC: MTGDY

DRILLING TO COMMENCE AT ITOGON GOLD PROJECT IN JANUARY 2015

LONDON: 22 DECEMBER 2014 - ECR Minerals plc is pleased to announce that a programme of diamond drilling will commence on or about 15 January 2015 at the Itogon gold project in Benguet Province, northern Philippines. ECR is the operator of Itogon and has the right to earn a 50% interest in the project.

The drilling programme has been designed in view of the results of the reverse circulation (RC) drilling completed at Itogon by ECR’s contractors in April 2014, and with the benefit of the extensive surface and underground mapping and sampling that has taken place at the project since the earlier phase of drilling.

The programme is primarily intended to provide information as to the orientation of the interpreted mineralised structures, the extent of near surface supergene enriched zones, and the continuity of certain zones of mineralisation intercepted by the RC holes.

Particular objectives of the seven diamond holes planned are summarised below. All the holes will be drilled at -60 degrees declination on an azimuth of 45 degrees.

Plan 001: target depth 200m, to be collared SW of ERC008

To follow up the near surface high grade intercept in ERC008 (16m at 17.14g/t gold from 1m, with 2m at 119.53 g/t gold from 8-10m); to test for other mineralised structures at depth.

Plan 008: target depth 110m, to be collared SW of ERC003

To follow up intercepts in ERC003 including 14m at 0.66g/t gold from surface and 11m at 1.46g/t gold from 88m (with 2m at 4.55g/t gold from 95m).

Plan 012: target depth 170m, to be collared SW of ERC006

To follow up the wide low grade intercept in ERC006 (33m at 1.13g/t gold from 86m); to test for other mineralised structures at depth.

Plan 015: target depth 150m, to be collared SW of ERC004

To test a mineralised zone on the western edge of the main prospect area which has yet to be drilled and to follow up the high grade intercept at depth in ERC004 (2m at 9.43g/t gold from 64m).

Plan 025: target depth 130m, to be collared NE of ERC002

To follow up the wide intercepts at depth in ERC002 (15m at 3.29g/t gold from 82m, with 2m at 18.25g/t from 92m; and 17m at 1.57g/t gold from 101m, with 3m at 5.45g/t gold from 103m).

Plan 031: target depth 130m, to be collared NE of ERC005

To follow up the high grade intercept of 7m at 5.33g/t gold from 138m (with 2m at 15.00g/t gold from 138m) in ERC005.

Plan 032: target depth 100m, to be collared NE of ERC006

To follow up the wide low grade intercept in ERC006 (33m at 1.13g/t gold from 86m); to test for other mineralised structures at depth.

The above holes total 990m of drilling based on their target depths. Holes judged to have met their geological objectives may be terminated early, and if sufficient budgeted metres remain, an additional hole may be drilled.

A map showing the locations of the RC drill holes drilled in April 2014 may be viewed at:

http://www.ecrminerals.com/itogon-project-phase1-drilling-map

This map was originally published on 29 May 2014.

Drilling results contained in this news release are extracted from the Company’s new release dated 29 May 2014 and should be read in conjunction therewith. All widths given in this news release are apparent width.

Stephen Clayson, Chief Executive Officer of ECR, commented:

“ECR’s second phase of drilling at the Itogon project will be a crucial one. The results of the first phase were encouraging but, but as would be expected of a first pass programme, left a number of geological questions unanswered. It is hoped that this second phase will enable a geological interpretation for the main prospect area at Itogon to be set out with confidence. That interpretation would then guide decisions regarding further work.

The second phase had been planned to commence during the final quarter of 2014, but additional time to consider the exploration data generated by ECR to date was deemed necessary before the programme could be finalised. Management and technical personnel also devoted considerable time to the review of potential new projects during Q4 2014.”

ABOUT ECR

ECR is a mineral exploration and development company with, among other interests, the right to earn a 50% interest in the Itogon gold project in the Philippines. Itogon is an advanced exploration project located in a gold and copper mining district in the north of the Philippines.

ECR has a 100% interest in the SLM gold project in La Rioja Province, Argentina, the exploration strategy for which is to delineate multiple medium to high grade, low tonnage deposits suitable for advancement to production on a relatively low capital, near term basis.

ECR continues to review potential new investments on a highly selective basis, with a concentration on precious, base and strategic metals projects in Asia and South America.

FOR FURTHER INFORMATION PLEASE CONTACT:

ECR Minerals plc Tel: +44 (0)20 7929 1010

Paul Johnson, Non-Executive Chairman

Stephen Clayson, Director & CEO

Richard (Dick) Watts, Technical Director

Email: info@ecrminerals.com

Website: www.ecrminerals.com

Cairn Financial Advisers LLP Tel: +44 (0)207 148 7900

Nominated Adviser

Jo Turner/Liam Murray

Daniel Stewart & Company plc Tel: +44 (0)20 7776 6550

Broker

Colin Rowbury

FORWARD LOOKING STATEMENTS

This announcement may include forward looking statements. Such statements may be subject to a number of known and unknown risks, uncertainties and other factors that could cause actual results or events to differ materially from current expectations. There can be no assurance that such statements will prove to be accurate and therefore actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking statements. Any forward looking statements contained herein speak only as of the date hereof (unless stated otherwise) and, except as may be required by applicable laws or regulations (including the AIM Rules for Companies), the Company disclaims any obligation to update or modify such forward looking statements as a result of new information, future events or for any other reason.

Copyright Business Wire 2014

Date   Source Headline
23rd Apr 202411:48 amRNSResult of AGM
23rd Apr 20247:02 amRNSAGM Statement
18th Apr 20247:05 amRNSSalary Sacrifice, Admission of Shares and TVR
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2nd Apr 20247:00 amRNSAnnual Report & Audited Results YE 30th Sept 2023
14th Mar 20247:04 amRNSPlacing raises £585,000 & Joint Broker Appointed
14th Mar 20247:02 amRNSIssue of Equity, Total Voting Rights, PDMR Dealing
15th Feb 20241:36 pmRNSBoard Changes
5th Feb 20249:55 amRNSPreliminary findings from Creswick drilling
23rd Jan 20247:03 amRNSBoard Change
15th Jan 202412:46 pmRNSFurther re the sale of Non-Core Assets
10th Jan 20247:04 amRNSReview of Lolworth Project
18th Dec 20237:05 amRNSSale of Non-Core Assets
14th Dec 20237:01 amRNSIssue of Equity, Total Voting Rights, PDMR Dealing
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11th Dec 20237:04 amRNSUpdate on Planned Drilling at Creswick
1st Dec 20237:18 amRNSSalary Sacrifice Share Admission and TVR
24th Nov 20231:18 pmRNSECR Board members attending Mines and Money
20th Nov 20237:04 amRNSLolworth Results Suggest Extended Mineralisation
16th Nov 202310:55 amRNSCorrection - Director Share Agreements
16th Nov 20237:36 amRNSUpdate on Drilling & Director Share Agreements
31st Oct 20237:05 amRNSGold Bearing Quartz Veins Discovered at Lolworth
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20th Oct 20235:09 pmRNSCancellation of Share Options
20th Oct 20234:56 pmRNSTermination of option to acquire Hurricane Project
6th Oct 20234:08 pmRNSResult of General Meeting & Total Voting Rights
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2nd Oct 20237:04 amRNSHurricane Option Extension & Rock Chip Results
27th Sep 202311:07 amRNSAdditional License Application at Kondaparinga
25th Sep 20239:18 amBUSExtended Gold Prospectivity and Niobium Bullseye Discovery at the Lolworth Project
21st Sep 202310:34 amBUSAsset Overview and Evaluation
19th Sep 20237:34 amBUSPosting of Circular, Notice of GM, Directors Share Agreements & PDMR Dealing
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15th Sep 20231:12 pmBUSBoard and Management Changes
15th Aug 20233:09 pmBUSGold & Niobium Rock Chip Results from the Lolworth Project
10th Aug 20237:15 amBUSRock Chip Results from Tambo Licence EL7484 and Renewal of Bailieston Licence EL5433
8th Aug 20237:06 amBUSLatest Results for Lolworth Gold, Niobium, Tantalum and REE Samples
20th Jul 20233:15 pmBUSFurther Gold Results from Soil Sampling at Quartz Hill, Creswick
19th Jul 20232:57 pmBUSInitial interpretations of pXRF analysis from the first Lolworth Range Niobium Soil Grid
12th Jul 202312:18 pmBUSPotential Exploration Targets Defined from LIDAR Survey at Hurricane Project
30th Jun 202310:42 amBUSHalf-year Report
25th May 202312:38 pmBUSPotential for Rare Earth Minerals at the Lolworth Range Project, Queensland
22nd May 20237:59 amBUSVictoria Exploration and Queensland Project Updates
9th May 20238:30 amBUS2023 Exploration Season Commences at the Lolworth Range Project, Queensland
9th May 20237:04 amBUSFunds From Sale of Bailieston Property Now Received
2nd May 20233:32 pmBUSFurther Gold Results from Creswick Soil Sampling Campaign
24th Apr 202310:12 amBUSResult of AGM
17th Apr 20238:08 amBUSIssue of Options
17th Apr 20237:04 amBUSLatest Results from Soil Sampling at the Creswick Project
5th Apr 202311:20 amBUSProposed Acquisition of Blue Mountain Project, Queensland

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