Royalty And Application
ECR Minerals plc is a mineral exploration and development company focused on gold projects in Australia
Victoria: Royalty agreements and exploration tenements in application
Agreements are in place with other exploration companies in Victoria for exploration tenements previously held by ECR Minerals.
MGA has an interest in the Avoca, Moormbool and Timor projects (the “Projects”) which were sold by MGA in 2020 and is entitled to:
(i) A$1.00 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$1.00 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 Company’s RNS announcement released on 20 April 2020.
Victorian exploration tenements in application
TENEMENT | AREA (KM2) | DATE GRANTED | EXPIRY DATE | TARGET COMMODITIES |
| ELA007537 (Ballarat) | 138 | Awaiting | – | Gold-Base Metals |
| EL007486 (Tambo) | 322 | Awaiting | – | Gold-Base Metals |
| TOTAL | 460 |
Application: Kondaparinga Project
The license area, known as Kondaparinga (“Kondaparinga”), is approximately 120km2 in area 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.