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.

ECR Minerals plc is pleased to provide the following update on drilling at the El Abra prospect within the Company’s Sierra de las Minas gold project area in La Rioja Province, Argentina.

To date 8 drill holes have been completed and hole 9 is in progress. In total approximately 650m has been drilled. Core samples from 6 holes have been sent to the internationally accredited AcmeLabs laboratory in Mendoza, Argentina for assay. Assay results in respect of the samples submitted are expected within 2-3 weeks. The Company expects to submit further core samples for analysis in due course.

The current programme is planned to consist of 12 holes totaling 1,000m, however the Company has the option to retain the drill rig presently on site for a further 1,000m of drilling. A decision as to whether to retain the rig will be made once initial assay results from the current programme are available.

A picture of the drill rig in operation at El Abra has been added to the Company’s website and may be viewed here

 

About the Sierra de las Minas Project Area

ECR holds 100% of the exploration rights to the Sierra de las Minas project area and 100% of the exploitation rights to a number of prospects within it, including the El Abra prospect. Exploration rights for other prospects may be converted to exploitation rights by application to the government of La Rioja Province. The El Abra and Jazmin prospects are subject to a 2% net smelter return royalty from production. Commencement of mining activities is subject to receipt of the necessary environmental permissions from the provincial government.

The project area is located approximately 800km north west of Buenos Aires, the capital city of Argentina, and is the site of significant historical small scale gold mining. Access to the project area is possible via paved highways from the cities of Mendoza, San Juan and Cordoba. Local access is by paved and unpaved provincial routes.


About ECR Minerals plc

ECR is a mineral development company with interests in Argentina, the USA, Indonesia, Thailand and Australia.

 

For further information please contact:

ECR Minerals plc
Patrick Harford, Executive Chairman
Stephen Clayson, Director & Chief Financial Officer
Email:This email address is being protected from spambots. You need JavaScript enabled to view it.
Daniel Stewart & Company plc
Paul Shackleton/Tessa Smith/David Hart Tel: +44 (0) 20 7776 6550
Old Park Lane Capital plc
Michael Parnes Tel: +44 (0) 20 7493 8188
Blythe Weigh Communications
Matthew Neal/Tim Blythe/Paul Weigh Tel: +44 (0)20 7138 3204
Barry Kaplan Associates
Larry Kaplan Tel: +1 732 747 0702