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
(“ECR Minerals”, “ECR” or the “Company”)

 

AIM: ECR
US OTC: MTGDY

 

London: 19 July 2012 - ECR Minerals plc is pleased to draw attention to the news release made today by THEMAC Resources Group Ltd (“THEMAC”) detailing positive results from a prefeasibility study (PFS) completed for THEMAC’s 100% owned Copper Flat copper-molybdenum-gold-silver porphyry project in New Mexico, USA. The full text of the release made by THEMAC is provided below.

ECR owns approximately 19% of THEMAC’s issued share capital and has a fully diluted interest in THEMAC of approximately 21%. THEMAC is listed on the TSX Venture Exchange with the code MAC.

 

Patrick Harford, Managing Director of ECR Minerals plc, comments:

“With the release of the PFS the team at THEMAC have delivered a strong result that brings the strengths of the Copper Flat project to the fore. For example, the existing infrastructure is estimated to represent a capital cost saving of US$54 million, and the reserves of the deposit are accessible from surface thanks to the pre-stripped open pit.

Overall Copper Flat’s history as an operating mine translates to lower execution risk for the planned return of the project to production, which THEMAC has indicated is targeted to occur in late 2014 following the conclusion of the permitting, definitive feasibility study (DFS) and detailed engineering processes by Q3 2013, allowing construction to commence in the final quarter of 2013.

In the meantime we look forward to the results of the reserve and resource update that will follow the incorporation of recent drilling data into THEMAC’s model of the Copper Flat deposit.”

To view the full text of the announcement made today by ECR including the full text of the news release made by THEMAC, please click here