Under Application & Royalty
ECR has a license under application, known as Kondaparinga (“Kondaparinga”), is approximately 120km2(dated 27-09-2023) and within the Hodgkinson Gold Province, 80km NW of Mareeba, North Queensland, Australia
ECR retains an interest in the Avoca, Moormbool and Timor projects with a prospective value of A$2 million, details of which are in the announcement dated 20 April 2020.
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Under Application
Danglay Gold Project, Philippines
ECR has earned a significant interest in the Danglay epithermal gold project, 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 here. ECR has written down its investment in its 2023 accounts however will look to unlock future potential license opportunity.
The Agreement gave ECR the exclusive right and option to earn a 25% or 50% interest in Cordillera Tiger and thereby in the Danglay project. Subsequently the Company has increased its interest in Danglay. Under the terms of the Agreement, ECR was the operator of the Danglay project, through Cordillera Tiger. The completion of various exploration programmes generated valuable data which is relevant to the assessment of the project’s economic potential.
In December 2015, the Company published an NI43-101 technical report (the “Report”) in relation to the Danglay project. The Report also disclosed a target for further exploration, as permitted by NI43-101. The Report supports the disclosure on 5 November 2015 of an inferred mineral resource estimate for oxide gold mineralisation at Danglay.
Due to the high level of political and regulatory risk affecting the Philippine mining sector, only limited efforts by ECR to enforce its rights in respect of Cordillera Tiger have to date been considered commercially justifiable. However, the political climate for the minerals industry in the Philippines appears on course to improve in future, and the directors of ECR are continuing to monitor the situation.
Kondaparinga, Queensland
Lux Exploration Pty Limited, submitted an application for an Exploration License (EPM28910). The license area, known as Kondaparinga (“Kondaparinga”), is approximately 120km2 in area (see Figure One below) and within the Hodgkinson Gold Province, 80km NW of Mareeba, North Queensland, Australia. The 3-year exploration term would include an expenditure commitment of AUD$487,000 over that period.
The Company’s geological team have examined other parts of the region for potential anomalous areas for gold, with this work being primarily based on the publicly available Queensland Government Geochemistry Database (QDEX). The exploration license application for Kondapringa EPM28910 was registered on 23 September 2023. The application will be assessed by government officials and work on the ground will not commence until the application has been granted. Whilst there can be no guarantee that the licence will be granted, the Directors have every expectation it will be.
If granted, the proposed exploration programme will aim to verify the historic stream results and if successful, a detailed survey programme will follow. The initial target areas identified are referenced on Figure One below and are spatially associated to the regional fault structures known as Hurricane Fault and Black Hill Fault.
“Everything that exists in your life, does so because of two things: something you did or something you didn’t do.”
Royalty
MGA has the following interest in the Avoca, Moormbool and Timor projects (the “Projects”) which were sold by MGA in 2020:
i. MGA will receive a payment of A$1 for every ounce of gold or gold equivalent of measured resource, indicated resource or inferred resource estimated within the area of one or more of the Projects in any combination or aggregation of the foregoing, up to a maximum of A$1,000,000 in aggregate; and
ii. a payment of A$1 for every ounce of gold or gold equivalent produced from within the area of one or more of the Projects, up to a maximum of A$1,000,000 in aggregate.
For more information regarding MGA’s interest in the Avoca, Moormbool and Timor projects, please see the announcement dated 20 April 2020.
Leviathan Gold, under the terms of the heads of agreement, core prospecting can earn an additional 35% interest in the Excelsior Area (Avoca project) by completing 4000m of diamond drilling and preparing an independent JORC report identifying indicated and/or measured mineral resource within 12months from April 17, 2024.
Projects
Queensland
LUX Exploration Pty Ltd (LUX) is a 100%-owned Australian subsidiary of ECR Minerals PLC (“ECR”). LUX has submitted applications for three (3) Exploration Permits for Minerals (“EPM”) in North East Queensland, Australia approximately 120km west of Charters Towers and 40km north of Pentland, North Queensland.
Victoria
ECR, through its wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd (“MGA”), is focused on gold exploration in the state of Victoria.