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: 13 NOVEMBER 2014 - ECR Minerals plc is pleased to provide the following update on activities at the SLM gold project in Argentina. The SLM project area is 100% held by ECR’s wholly owned Argentine subsidiary Ochre Mining SA (“Ochre”).

Further to ECR’s announcement of 2 September 2014, assay results from channel, dump, float and rock chip sampling are disclosed in Tables 1 and 2 below. The sampling encompassed the three main prospects within the SLM project area: El Abra, Maestro Agüero and JV-14. Detailed geological mapping of each prospect is continuing and is expected to be complete by the end of 2014.

Highlights from channel sampling at the Maestro Agüero prospect (apparent widths) include 1.60m at 28.44g/t gold (with 0.20m at 62.5g/t gold) and 6.10m at 3.77g/t gold (with 1.10m at 4.86g/t gold). Assays from sampling at the El Abra and JV-14 prospects include 37.80g/t gold (float from El Abra) and 44.90g/t gold (rock chip from JV-14).

A map relating to the sampling results disclosed in this news release may be viewed at: http://www.ecrminerals.com/q3-2014-ochre-samples-maestro-aguero The map is for illustration only and should not be relied upon for technical purposes.

 

Stephen Clayson, Chief Executive Officer of ECR, commented:

“Since activities on the ground in the SLM project area recommenced in January 2014 our understanding of the project has improved significantly. Assay results from sampling which took place during the third quarter of this year are disclosed in the tables below, and are within the range of our expectations. Completion of the current detailed geological mapping exercise later this year will assist in the interpretation of this sampling data and that from prior phases of work, and will help determine the appropriate path forward for SLM in 2015.”

To read the full announcement click here.