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.

MERCATOR GOLD plc
(“Mercator Gold”, “Mercator” or “the Company”)

AIM: MCR

US OTC: MTGDY

 

LONDON: 20 OCTOBER 2004 - Mercator Gold plc (“AIM-MCR”) as operator of the Annean Joint Venture is pleased to announce that drilling rigs have been mobilised for commencement of a 10,000m reverse circulation and rotary air blast drilling program on three gold exploration targets in the Yaloginda region.

The Yaloginda drilling represents the first of five gold targets to be drilled by Mercator before the end of the year within the 1,020 sq km Annean Joint Venture area in the Meekatharra region of Western Australia.

Using SpaDiS™ technology, Mercator has reviewed the previous exploration and production data from the Yaloginda area, where more than 1,000,000 ounces of gold was mined previously from 18 surface oxide deposits in a 15km by 2km mineralised zone.

The initial drilling at Yaloginda targets high-grade shoots below and along strike from the previously mined oxide resources, which have been chosen by Mercator for their capacity to host ore bodies containing at least 500,000 ounces of gold. Assay results from the drilling should be available within eight weeks.

Mercator operates a continuous disclosure policy with respect to exploration results. Company news releases are based on technical information approved by the Company’s Exploration Director, Julian Vearncombe BSc (Hons), PhD, FGS, RPGeo, FAIG.

 

For further information please contact:

Mercator Gold plc    
Patrick Harford, Managing Director Tel: +44 (0) 20 7929 1010
Email:This email address is being protected from spambots. You need JavaScript enabled to view it.    
   
   
   
Beaumont Cornish Limited    
Roland Cornish Tel: + 44 (0) 20 7628 3396
     
     
     
Phillip Securities UK Limited    
Nick Bealer Tel: +44 (0) 20 7553 8281
     
     
     
Parkgreen Communications    
Justine Howarth / Ana Ribeiro Tel: +44 (0) 20 7493 3713

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