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: 29 APRIL 2014 - ECR Minerals plc is pleased to announce that further to its announcements of 2 and 14 April 2014, the initial phase of reverse circulation (RC) drilling at the Itogon gold-silver project was completed on 28 April 2014. 

 

Assay results from this phase of drilling are expected to be available by the end of May 2014, along with assay results from underground sampling within an extensive exploration tunnel developed by a former operator of the project and referred to in previous announcements.

 

Assay results from surface channel sampling at Itogon are expected to be available in early May 2014.  All samples obtained from the Itogon project by ECR, including those from the RC drilling, will be analysed by an accredited independent laboratory.

 

Stephen Clayson, Chief Executive Officer of ECR, commented:

 

“The initial phase of drilling at the Itogon project has been completed smoothly and we look forward to receiving the assay results, along with those from the other exploration programmes referred to above. 

 

Accordingly, ECR’s operations at Itogon will soon start to bear fruit in terms of significant data, which will provide important indications as to whether the potential of the project is as substantial as we currently believe.”

 

ABOUT ECR

 

ECR is a mineral exploration and development company with, among other interests, the right to earn a 50% interest in the Itogon gold-silver project in the Philippines.  Itogon is an advanced exploration project located in a gold and copper mining district on the island of Luzon in the north of the Philippines, and benefits from an extensive historical dataset.

 

ECR has a 100% interest in the Sierra de las Minas gold project in La Rioja Province, Argentina, the exploration strategy for which is to delineate multiple high grade, low tonnage deposits suitable for advancement to production on a relatively low capital, near term basis.

 

ECR holds a substantial minority stake in THEMAC Resources Group Ltd (TSX-V: MAC), which is focused on the development of the Copper Flat copper-molybdenum-gold-silver porphyry project in New Mexico, USA.

 

FOR FURTHER INFORMATION PLEASE CONTACT:

ECR Minerals plc    
Paul Johnson, Non-Executive Chairman Tel: +44 (0)20 7929 1010
Stephen Clayson, Director & Chief Executive Officer    
Email:This email address is being protected from spambots. You need JavaScript enabled to view it.    
Website: www.ecrminerals.com    
     
     
Daniel Stewart & Company plc    
David Hart/James Thomas (Nominated Adviser) Tel: +44 (0)20 7776 6550
Colin Rowbury (Broker)    
     

 

 

 

FORWARD LOOKING STATEMENTS

 

This announcement may include forward looking statements.  Such statements may be subject to a number of known and unknown risks, uncertainties and other factors that could cause actual results or events to differ materially from current expectations.  There can be no assurance that such statements will prove to be accurate and therefore actual results and future events could differ materially from those anticipated in such statements.

 

Accordingly, readers should not place undue reliance on forward looking statements.  Any forward looking statements contained herein speak only as of the date hereof (unless stated otherwise) and, except as may be required by applicable laws or regulations (including the AIM Rules for Companies), the Company disclaims any obligation to update or modify such forward looking statements as a result of new information, future events or for any other reason.