Last checked at 27 Jan 2020 07:00
ECR MINERALS plc(“ECR Minerals”, “ECR” or the “Company”)
UPDATE ON WINDIDDA PROJECT, WESTERN AUSTRALIA
ECR Minerals plc (LON: ECR), the precious metals exploration and development company, is pleased to provide an update on the Windidda project in Western Australia which is held by ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd (“MGA”).
HIGHLIGHTS:
ECR’s 100%-owned Australian subsidiary MGA has been granted four exploration licences in the north-eastern Yilgarn region of Western Australia;The licences form part of the Windidda project, which is now considered to be potentially prospective for komatiite hosted Ni-Cu-PGE as well as orogenic gold;MGA has commissioned a consultant to complete additional geophysical modelling and review of historical activity reports for areas to the south of Windidda in order to better understand the potential prospectivity of the project.Craig Brown, Chief Executive Officer, commented:
“ECR has had a busy start to the year, with work in progress in relation to the Windidda project in Western Australia, which is now considered to be potentially prospective for nickel-copper-PGE mineralisation as well as orogenic gold, and planning underway for fieldwork in the Bailieston gold project area in Victoria to commence in February.
We also continue to review a number of potential new projects and strategic developments for the Company, and will of course provide updates to the market as appropriate.”
Windidda Project Update
The Company’s 100%-owned Australian subsidiary MGA has commissioned a consultant to complete the following work in order to better understand the potential prospectivity of the Windidda project and the depth of cover:
Review and assessment of all historical activity reports for relevant areas to the south of the Windidda project, including reports filed by North Ltd, BHP/Western Mining Corporation and Rox Resources Ltd.Modelling of newly identified airborne gravity data which partially covers two of the Windidda exploration licence applications. This data is additional to that modelled last year (see announcement dated 15 October 2019), and the results can be assessed and related to the previous magnetic modelling on equivalent lines.Recent preliminary research into the geological setting of the project suggests that the southern parts are potentially prospective for komatiite hosted nickel-copper-PGE (platinum group element) mineralisation. Approximately 12km from the southernmost exploration licence application at Windidda, Rox Resources Ltd has estimated a JORC (2012) Inferred Mineral Resource of 573,000t at 1.63% nickel, 1.19% copper, 0.082% cobalt, 1.49 g/t palladium and 0.85 g/t platinum for the Olympia deposit within Rox’s Collurabbie project (see www.roxresources.com.au).
In late 2018, MGA applied for a total of nine exploration licences to comprise the Windidda project, of which four have now been granted. The remaining five licence applications are subject to objections to the expedited grant procedure from native title parties. MGA is considering its options in this regard, and may decide to rationalise the Windidda tenement package in light of the native title objections and the findings of ongoing technical work.
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)161 832 2174 | |
Nominated Adviser | ||
Katy Mitchell/James Sinclair-Ford | ||
SI Capital Ltd |
| Tel: +44 (0)1483 413500 |
Broker |
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Nick Emerson |
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ABOUT ECR MINERALS PLC
ECR is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd has 100% ownership of the Avoca, Bailieston, Creswick, Moormbool and Timor gold exploration projects in central Victoria, Australia and the Windidda project in the Yilgarn region, Western 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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