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: 6 July 2015 - The directors of ECR Minerals plc (the “Directors”) are pleased to announce positive results from trenching at the Itogon epithermal gold project, northern Philippines. The trenching was completed during May and June 2015 and comprised 13 trenches totalling 430.6m. Mineralised intervals from the trenching are presented in Table 1 below.

In addition, 12 test pits were excavated in areas too steep or otherwise inaccessible for trenching. Further assay results in respect of various trenches and all test pits are pending.

HIGHLIGHTS

  • Mineralised intervals from trenching (apparent width) include:

    60m at 2.43 g/t gold in TR09 (includes interval of 42m at 2.54 g/t gold announced 18 June 2015)
    28.6m at 3.61 g/t gold in TR09 (separate and additional to the interval above)
    18m at 1.71 g/t gold in TR05
    59m at 1.32 g/t gold in TR05
    10m at 1.39 g/t gold in TR02
  • Very high grades encountered in TR09 including: 1m at 16.74 g/t gold from 10m
    1m at 42.29 g/t gold from 28m
    1m at 79.67 g/t gold from 84m

 

Stephen Clayson, Chief Executive Officer of ECR, commented:

“These encouraging results provide further positive indications as to the potential of the supergene enriched oxide gold blanket which occurs from surface in the main prospect area at Itogon, and we look forward to receiving and reporting the remainder of the assay results from the trenching and test pitting programme.

Work at the project during July 2015 is expected to focus on formulating a cohesive geological model for the purposes of the planned resource estimate and accompanying NI43-101 technical report. The Directors anticipate that this report will be completed during September 2015.

This work will include efforts to better understand the controls on the very high grade mineralisation encountered in TR09 and in earlier phases of sampling, as well as in the reverse circulation drilling carried out in 2014.”

Please click here to view the full announcement.