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: 31 JULY 2008

    • Silver Swan Group (ASX: SWN) reported significant copper-zinc mineralisation at the Austin Prospect (previously Ridgeback) near Meekatharra in Western Australia.
    • Large high-grade intersections of volcanogenic copper and zinc mineralisation that bears similarities to the Golden Grove base metal mine owned by OZ Minerals, 240km to the southwest has been discovered.
    • Results include:
35.55m @ 1.7% Cu
25.2m @ 13.7% Zn, and
7m @ 1.3g/t Au and 18.6g/t Ag

  • Mercator currently holds a 30 per cent stake in Silver Swan.

Mercator Gold plc, the growing gold producer with operations in the historic Meekatharra Goldfield in Western Australia, is pleased to draw attention to an announcement made today by Silver Swan Group (“Silver Swan”) regarding results of drilling at its Austin Prospect near Meekatharra.

For more detail please refer to the Silver Swan announcement:

www.asx.com.au

 

Notes to Editors:

Mercator holds 10 million shares in Silver Swan, approximately equivalent to a 30 per cent stake, following the sale to Silver Swan of certain of Mercator’s non-core exploration leases in the Meekatharra district (see announcement dated 20 February 2008).

Mercator’s stake is expected to fall to approximately 26 per cent following the issue of 5 million shares pursuant to a recent placing by Silver Swan.

Mercator also holds 4 million performance shares in Silver Swan which will convert to fully-paid ordinary shares subject to certain terms and conditions, the most notable of which is the proving up by Silver Swan of 350,000 ounces of gold or gold equivalent in the indicated resource category on the leases sold to it by Mercator.

 

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.    
   
   
   
Bankside Consultants Ltd Tel: +44 (0) 20 7367 8888
Simon Rothschild    
Keith Irons    
Oliver Winters    

 

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