ECR is a mineral exploration and development company, incorporated in the UK.

ECR’s wholly owned Australian subsidiary Mercator Gold Australia (MGA) has agreed to acquire 100% ownership of the Avoca and Bailieston gold projects in Victoria, Australia. Mercator Gold Australia is estimated to have tax losses of approximately AUD 66M as at 30 June 2015, which may be available, subject to certain conditions (as described in ECR’s announcement dated 4 December 2014), to reduce MGA’s future taxable profits.

ECR has the right to earn a 50% interest in the Danglay epithermal gold project in the Philippines. Danglay is 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 subsidiary Ochre Mining has a 100% interest in the SLM gold project in La Rioja Province, Argentina. Exploration at SLM has focused on identifying small tonnage mesothermal gold deposits which may be suitable for relatively near term production.

 

ECR shares are listed on the AIM market of the London Stock Exchange with the symbol ECR.

The following information pertaining to the Bailieston gold project should be read in conjunction with the relevant ECR regulatory announcements

The Bailieston project is centred on epithermal ‘Carlin’ style disseminated or sheeted vein hosted gold mineralisation. This concept is premised on the exploitation of such a deposit immediately to the north of EL5433 by Perseverance Corporation in the mid-1990s, and geological evidence that the structure which hosts this deposit is repeated within the Bailieston project area.

The Fosterville gold mine, owned by Newmarket Gold (TSX: NMI), is located some 20km to the west of the Bailieston project, and is currently the largest producing gold mine in Victoria, which as a state has a rich and varied gold mining history going back to the nineteenth century. The Fosterville gold mine recently celebrated the production of its one millionth ounce of gold. The Costerfield gold-antimony mine, owned by Mandalay Resources (TSX: MND), is located some 30km southwest of the Bailieston project.