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: 29 JULY 2005 - Mercator Gold plc (AIM: MCR) as operator of the Annean Joint Venture announces interim results from its drilling programme at Meekatharra North, Western Australia.

 

HIGHLIGHTS

  • The Maid Marion prospect at Meekatharra North becomes a priority target following recent drilling results demonstrating substantial strike and down-dip extension of gold mineralization in reverse circulation drilling.
  • Second major zone of gold anomalism has been identified extending over 3.5km of strike length. The now named Nottingham anomaly was highlighted by the compilation and digitization of uncompiled historic aircore data to the south of Maid Marion.

 

Meekatharra North

Data compilation, digitization and evaluation of historic aircore, rotary air blast and reverse circulation drilling has outlined a 3km long geochemical anomaly in the area of Maid Marion prospect and a further 3.5km long geochemical anomaly of greater than 0.5g/tAu to the south at the newly named Nottingham prospect. The anomalous zones in both areas are open to the north and south. These anomalies are illustrated on the Mercator website with this report.

Mercator’s exploration drilling results from Meekatharra North, specifically Maid Marion prospect, demonstrate consistent gold mineralisation across a series of exploration drill fences. This initial drill programme was designed to test potential for a substantial mineralized system in accord with Mercator’s aim of defining prospects with potential to host more than 500,000oz of gold. Step-out drilling has confirmed excellent potential along strike and down-dip and possible repeating zones of mineralization west of the main area of drilling. Mineralisation thus far, has been located in drilling over a strike length of more than 450m, up to 160m down-dip and greater than 100m vertical depth. Gold mineralization is associated with quartz veins in ferruginised siliciclastic sediments, banded iron formation and mafic volcanic rocks. The area as a whole has a deeply weathered profile to 250m depth.

Reverse Circulation: RC drilling designed to test down-dip extensions to previously known mineralization and test aircore anomalies has been successful. Up to two zones of mineralisation in each hole were intersected, the upper zone containing true widths to 15m of low grade gold and a lower zone to 5m true width, down-dip with narrower higher grade mineralisation. Mineralisation commences from surface. Significant geologically defined intersects include This email address is being protected from spambots. You need JavaScript enabled to view it. /t and This email address is being protected from spambots. You need JavaScript enabled to view it./t in drillhole 05MMRC006, This email address is being protected from spambots. You need JavaScript enabled to view it./t in drillhole 05MMRC007, This email address is being protected from spambots. You need JavaScript enabled to view it./t, This email address is being protected from spambots. You need JavaScript enabled to view it./t and This email address is being protected from spambots. You need JavaScript enabled to view it./t in drillhole 05MMRC009, This email address is being protected from spambots. You need JavaScript enabled to view it./t in drillhole 05MMRC010, This email address is being protected from spambots. You need JavaScript enabled to view it./t in drillhole 05MMRC013.

Patrick Harford, CEO of Mercator commented: “I am delighted to see that a third prospect has advanced to the stage of being of sufficient merit to justify the company’s view that it could contain at least 500,000 ounces. Inevitably some projects such as Tuckanarra don’t make the cut but Maid Marion with its deeply weathered profile and consistent mineralization down dip and along strike is comfortably within trucking distance of Meekatharra. We have high hopes of profitable ounces from Maid Marion”.

 

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
     
     
     
King & Shaxson Capital Ltd    
Nick Bealer Tel: +44 (0) 20 7553 8281
     
     
     
Parkgreen Communications    
Justine Howarth / Ana Ribeiro Tel: +44 (0) 20 7493 3713

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