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: 4 NOVEMBER 2004 - Mercator Gold plc (“AIM-MCR”) announces it has lodged prospecting permits totaling approximately 2,800 sq km in the North Island of New Zealand over areas prospective for the discovery of large, high-grade gold-copper deposits.

Mercator has a 100% interest in the application areas, which were selected by the company’s technical team led by Drs Susan and Julian Vearncombe, who have considerable exploration experience in New Zealand at a technical and academic level.

“Globally, mafic-hosted volcanogenic gold-copper systems have received less exploration than they deserve,” said Mercator’s exploration director Julian Vearncombe. “Deposits currently being mined of this type range in tonnage from 1 to 55 million tonnes and are attractive to a growing exploration company because of the gold-copper association and high grades.”

New Zealand has been identified by Mercator as a major growth area for exploration and the discovery of new economic deposits, particularly in those areas where bonanza mining took place in the late 1800s and which are being successfully re-explored with modern techniques, e.g. Macraes Flat and Waihi. The current applications are the first steps by the company in accumulating a second significant exploration asset base to complement its large Meekatharra exploration project in Western Australia. Once granted, the company will complete a detailed data compilation and review to identify the initial exploration targets.

 

Annean Joint Venture – Meekatharra, Western Australia

Mercator also announces the commencement of ground geophysical programs at Tuckanarra, Lukes Junction and Maid Marion within the 1,020 sq km Annean joint venture area at Meekatharra, Western Australia. Data from the geophysical program will add to the existing soil geochemistry, drilling and airborne geophysical database, and allow further refinement of drilling targets in these areas. Lukes Junction and Maid Marion are planned to be drilled later this year.

 

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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