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: 17 JULY 2014 - ECR Minerals plc is pleased to announce further positive assay results from surface channel sampling at the Itogon epithermal gold project in the Philippines.  

HIGHLIGHTS

  • Assay results from second phase of surface channel sampling by ECR at the Itogon project include 16m averaging 2.28g/t gold (inc. 6m averaging 4.96 g/t) and 16m averaging 1.20 g/t gold
  • Numerous channels demonstrate gold mineralisation at surface outside the zones tested by previous drilling; please see accompanying map

 

Stephen Clayson, Chief Executive Officer of ECR, commented:

“These channel sampling results include encouraging grades and widths, and demonstrate that mineralisation in the main prospect area at the Itogon project extends at surface outside the limits of both recent drilling by ECR and historical drilling. 

The results from channels MP-13 and 14, MP-18 and 19, MP-20 and 21, MP-28 and MP-33 to 36, all of which are reported in Table 1 below, mean that the confirmed surface extent of the vein system in the main prospect area at Itogon is approximately 200m in width and 425m along strike.  This represents a substantial exploration target, particularly given the positive drilling results announced by ECR on 29 May 2014 and the positive surface and underground channel sampling results announced on 19 May 2014. 

Channel sampling and trenching is continuing, with a particular focus on confirming at surface the extension of mineralisation along strike to the SE.  In addition, planning for the next phase of drilling continues, and details will be announced in due course.”

 

To read the full announcement click here.