Our latest Investing Matters Podcast episode with QuotedData's Edward Marten has just been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksECR Minerals Regulatory News (ECR)

Share Price Information for ECR Minerals (ECR)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 0.285
Bid: 0.28
Ask: 0.29
Change: 0.00 (0.00%)
Spread: 0.01 (3.571%)
Open: 0.00
High: 0.00
Low: 0.00
Prev. Close: 0.285
ECR Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Strategic Licence Applications Australia

27 May 2021 11:19

 

27 May 2021

ECR MINERALS plc

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

STRATEGIC LICENCE APPLICATIONS AUSTRALIA

APPLICATION FOR 300 SUB-BLOCKS WEST OF CHARTERS TOWERS IN THE LOLWORTH DISTRICT OF NORTH QUEENSLAND, AUSTRALIA.

ECR Minerals plc (LON: ECR), the gold exploration and development company focused on Australia, is pleased to announce three new strategic licence applications with a view to adding new exploration opportunities in Queensland, Australia.

Three Exploration Permits in Application (“EPM”) licences have been submitted in North Queensland, Australia by LUX Exploration Pty Ltd (“LUX”) which is a 100%-owned Australian subsidiary of ECR Minerals.

Craig Brown, Chief Executive Officer, commented:

“The strong cash position enjoyed by ECR Minerals has not only enabled us to launch aggressive drilling programmes across our existing properties, but has also facilitated full utilisation of in-house and advisory resources to identify, investigate and potentially acquire new opportunities to expand our Australian exploration portfolio. Today’s announcement manifestly demonstrates that capability.

We are currently operating two diamond drill rigs at the Bailieston and Creswick projects in Victoria, Australia, both of which are delivering considerable amounts of drill core for technical review, processing and assay testing.

We believe the ongoing drilling operations and the upcoming implementation of drilling across multiple high-profile gold targets will expose ECR to potential new gold discoveries.

We also look forward to providing further information from the new Queensland Australia licence applications, which we believe offer significant potential for precious and base metal discoveries in an area of Australia where multiple large-scale discoveries have already been made.

Exploration work across Australia continues apace and we expect to provide further operational updates in the near term”

THE APPLICATION AREA

Three Exploration Permits in application (EPM 27901, 27902 and 27903); representing 300 sub-blocks covering a total 900 km2 of highly prospective ground located within the Lolworth Range, 200km WSW of Townsville and 30km north from Pentlands, North Queensland Australia.

EXPLORATION POTENTIAL

The application area contains metamorphic rocks of the Charters Towers Province, that host historical large gold producing centres such as Charters Tower (6.6M Oz Au) and Ravenswood (>1M Oz Au). The structural and basement geology is poorly understood in the area suggesting finding new deposits are possible.The area also contains reported rhyolitic volcanics which play host to intrusion-related breccia gold deposits in the region such as Mount Leyshon (>2.5M oz) and Mount Wright (>1M oz). (see Figure 1 below).Desktop study of historic exploration data from the late 1980’s revealed highly anomalous gold stream sediment sample results within the applied areas.The application area is encompassed on the southern boundary by rich alluvial gold deposits of the Cape River and Gorge Creek area, which drain the southern Lolworth Range.The east boundary of EPM27902 and EPM27903 is bordered by current exploration permits exploring the Lolworth dyke swarm; a north-west trending system of rhyolitic dykes and small breccia pipes containing gold, copper and molybdenum.Historic samples also highlighted tin-tungsten mineralisation in the western areas of EPM27902 (see Figure 2). Reports show no detailed follow-up work has been undertaken.

Figure 1: Location of EPM27901, 27902 and 27903 and nearby gold deposits and towns.

https://www.ecrminerals.com/images/figure1_Lux.jpg

EXPLORATION OUTLINE

Research reveals little mineral exploration work has been done within the Lolworth Range. Access, company specific targeted ore-deposit styles and price of metals reflect the efforts of past exploration. The most detailed exploration work undertaken within the application area would have been under AP4855M (A.R.I Limited) during the 1987-88 period. The work this company undertook is one of the main reasons for the current application area. A.R.I undertook a major stream sediment program within the drainage of the Lolworth Range via helicopter access. This work highlighted seven gold anomalous areas worth following up. Rock chips also demonstrated the perspectivity of the region with elevated gold in association with rhyolites and breccias. Eleven watersheds showed visible gold in pan concentrates. Highlights from this historic exploration work are shown on (Figure 2).

Figure 2: Plan of EPM application area showing historic stream sediment sampling results.

https://www.ecrminerals.com/images/figure2_Lux.jpg

Initial exploration likely to include confirmation of existing stream sampling anomalies to potential watersheds, followed up by soil and rock chip sampling of ridgelines that are above these anomalous watersheds. The outcome of this work will delineate worthy drill targets.Assuming the licence applications will be approved, LUX Exploration Pty Ltd. will have initially 5 years to complete the planned exploration program, with right to apply for permit extensions for up to a total of 15 years. LUX Exploration will need to extinguish 50% of the initial application area after 5 years.

REVIEW OF ANNOUNCEMENT BY QUALIFIED PERSON

This announcement has been reviewed by Adam Jones, a director of 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.

MARKET ABUSE REGULATIONS (EU) No. 596/2014

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (MAR). Upon the publication of this announcement via Regulatory Information Service (RIS), this inside information is now considered to be in the public domain.

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)207 220 1666

 

Nominated Adviser

 

 

 

Katy Mitchell / James Sinclair-Ford

 

Novum Securities Limited

Broker

Jon Belliss

 

Tel: +44 (0)20 7399 9425

 

 

 

 

 

SI Capital Ltd

 

Tel: +44 (0)1483 413500

 

Broker

 

 

 

Nick Emerson

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, and two licence applications lodged in eastern Victoria for the Tambo gold project.

MGA is currently drilling at both the Bailieston and Creswick projects and has an experienced exploration team with significant local knowledge in the Victoria Goldfields and wider region.

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), MGA has the right to receive up to A$2 million in payments subject to future resource estimation or production at any of those projects.

ECR has earned a 25% 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, and holds a royalty on the SLM gold project in La Rioja Province, Argentina

View source version on businesswire.com: https://www.businesswire.com/news/home/20210527005452/en/

Copyright Business Wire 2021

Date   Source Headline
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
12th Dec 202310:50 amRNSDrilling Underway at the Creswick Project
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
23rd Oct 20237:04 amRNSEncouraging Gold Results from Lolworth Project
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
5th Oct 20237:05 amRNSHurricane: Final Rock Chip Results & Prospectivity
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
18th Sep 20237:04 amBUSConditional Fundraise of £580,000 & Proposed General Meeting
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
3rd Apr 20237:05 amBUSFinal Niobium and Tantalum Stream Results Extend Anomalous Footprint at Lolworth Range Project, Queensland
3rd Apr 20237:00 amBUSFinal Results
23rd Mar 20237:16 amBUSFurther Stream Sampling Results Identify New Gold Anomalies at Lolworth Range Project, Queensland
3rd Mar 20233:01 pmBUSDiamond Drilling Programme commences at Creswick
1st Mar 20237:04 amBUSSecond ECR Drill Rig Arrives At Melbourne

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.