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: 9 DECEMBER 2004 - Mercator Gold plc (AIM: MCR) as operator of the Annean Joint Venture announces that initial drilling has intersected high-grade gold mineralisation at Bluebird, one of three resource-extension targets being drilled in the Yaloginda region near Meekatharra, Western Australia.

HIGHLIGHTS

  • Hole 04BBRCDD002 drilled from the surface adjacent to the Bluebird open pit intersected 9m @ 4.85 g/t Au from 287m down-hole and re-entry and extension of Hole RCB201 intersected 10m @ 7.74g/t Au from 322m down-hole;
  • The results demonstrate high-grade gold mineralisation to 200m below the base of the Bluebird open pit, which is within 500m of the St Barbara Mines (SBM) mill.
  • The drilling validates and starts to in-fill more than 130 diamond and reverse circulation drill holes by previous operators at Bluebird the data from which have been compiled by Mercator as part of its SpaDiSTM analysis of the project area. These holes returned numerous high-grade intercepts, including 10m @ 10.62g/t Au, 6m @ 15.61g/t Au, 12m @ 8.63g/t Au, 6m @ 18.22g/t Au, 5m @ 15.63g/t Au, 21m @ 4.08g/t Au, 1m @ 78g/t Au, and 10m @ 9.09 g/t.

 

Bluebird Drilling

Bluebird is the first of three resource-extension targets in the Yaloginda area, immediately south of Meekatharra, Western Australia, to be drilled by Mercator. The Company considers that each has the potential to contain in excess of 500,000 ounces of high-grade gold. The targets are located along strike and below zones where more than 1,000,000 ounces of gold were mined previously from surface oxide deposits.

The Bluebird mineralisation is located approximately 500m west of the St Barbara Mines mill, which at full capacity can process in excess of 1,500,000 tonnes of ore per annum.

Bluebird was selected by Mercator as an early target for steep east dipping high-grade ore shoots following a detailed SpaDiSTM analysis of the project area. Mercator has drilled three new holes into large gaps in the known mineralisation envelope and re-entered two earlier holes that Mercator’s analysis suggested had stopped short of the ore zones.

 

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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