Last checked at 6 Nov 2018 14:00
6 November 2018
ECR MINERALS plc
(“ECR Minerals”, “ECR” or the “Company”)
Strategic Business Update
ECR Minerals plc (LON:ECR), the precious metals exploration and development company, is pleased to provide a strategic business update for shareholders.
Gold Projects
ECR currently holds gold interests in Australia, Argentina and the Philippines.
The Company has of late focused largely on the development of its 100% owned gold portfolio with an emphasis on projects in the Victoria region of Australia. Given the new and positive results from Australia our work continues at pace across multiple exploration activities and we will provide regular updates to market as further progress is achieved.
Our recent work in Argentina in respect of the 100% owned Sierra de las Minas project has highlighted a number of corporate avenues through which we could demonstrate and build shareholder interests in-country. In addition we continue to monitor developments in the Philippines to identify suitable options to recognise the value of our 25% interest in the Danglay gold project. All progress made will be announced to the market as material developments occur.
Complementing the existing gold portfolio we have been presented with a number of additional gold focused opportunities, the first of which, the Iceberg gold project which was announced on 3 August 2018, is under an option agreement.
In respect of the Iceberg project ECR continues to pursue due diligence activities. The due diligence process is covering a wide review of the project and this has been extended to include detailed examination of significant historical exploration work including extensive geochemical data. Our work on this continues and to allow for the detailed analysis being undertaken we have agreed a further one month extension of the option period to 1 December 2018 at no additional cost to the Company. We thank the proposed vendors for their support with this additional time extension.
In addition to the Iceberg project the Company has identified a number of strategic gold project acquisition opportunities which are also under review. Should any specific project advance to option or acquisition stage further announcements will be made to the market.
Recognising the range and depth of opportunities and the interest in ECR as a potential vehicle for new projects, we see a considerable advantage in building a diverse, low-cost and strategically significant portfolio of gold interests. We are aided in this regard by the currently poor market conditions, which is enabling gold opportunities to be acquired at a low cost entry level, well within the resources available within the Company.
Energy Metals and Minerals
The ECR team is aware of the very significant interest being shown in energy metals and minerals for battery technologies and general electrification demand.
The Company has received recent specific interest from third parties who have a strategic interest in the development of an energy metals and minerals pipeline. This interest extends to the potential injection of capital into new ventures should suitable energy metal projects of merit be identified and acquired by the Company.
Reflecting the potential for strategic support in this manner ECR has identified a number of energy metal and mineral opportunities that may be attractive and has a number of projects under due diligence at present.
Should any specific project advance to option or acquisition stage further announcements will be made to the market.
Craig Brown Chief Executive Officer of ECR Minerals plc commented: “ECR Minerals finds itself at a very interesting point in its development with a number of options for forward business development and growth.
The backdrop of difficult conditions in the junior resource sector has simply opened up multiple opportunities and although we would all like to see stronger market conditions generally, ECR is taking full advantage of the wide breadth of projects available.
Further updates to follow.”
FOR FURTHER INFORMATION, PLEASE CONTACT:
| ECR Minerals plc | Tel: +44 (0)20 7929 1010 | |
| David Tang, Non-Executive Chairman | ||
| Craig Brown, Director & CEO | ||
| Email:
info@ecrminerals.com | ||
| Website: www.ecrminerals.com | ||
| WH Ireland Ltd | Tel: +44 (0)161 832 2174 | |
| Nominated Adviser | ||
| Katy Mitchell/James Sinclair-Ford | ||
| SI Capital Ltd | Tel: +44 (0)1483 413500 | |
| Broker | ||
| Nick Emerson |
ABOUT ECR MINERALS PLC
ECR is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia has 100% ownership of the Avoca, Bailieston, Creswick, Moormbool and Timor gold exploration licences in central Victoria, Australia.
ECR has earned a 25% interest in the Danglay epithermal gold project, an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines. An NI43-101 technical report was completed in respect of the Danglay project in December 2015 and is available for download from ECR’s website.
ECR’s wholly owned Argentine subsidiary Ochre Mining has 100% ownership of the SLM gold project in La Rioja, Argentina. Exploration at SLM has focused on identifying small tonnage mesothermal gold deposits which may be suitable for relatively near-term production.
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