ECR Minerals PLC Update on Planned Drilling at Creswick (2530W)
11 12월 2023 - 4:04PM
UK Regulatory
TIDMECR
RNS Number : 2530W
ECR Minerals PLC
11 December 2023
ECR MINERALS plc
("ECR Minerals" or the "Company")
Update on Planned Drilling at the Creswick Project
ECR Minerals plc (LON:ECR), the exploration and development
company focused on gold in Australia, is pleased to announce that
its subsidiary, Mercator Gold Australia Pty Ltd, has engaged a
drilling contractor, on standard commercial terms, to undertake ECR
Mineral's proposed drilling programme within the Creswick gold
project in central Victoria, Australia.
The proposed drill campaign will focus on two prospect locations
respectively known as Kuboid Hill and Davey Road (see Figure 1
below) . Both prospects have proven to contain evidence of gold
from previous soil analysis and rock chip sampling.
Figure 1: Creswick Gold Project
As previously announced, all necessary permits and drilling
permissions from the relevant governmental authorities have been
submitted and the Directors are now just waiting for right of
access to the site, which is anticipated to be a simple procedural
step, whereupon drilling is expected to commence very shortly. It
is currently anticipated that drilling will commence at Creswick by
the end of the current calendar year .
The Company expects that approximately 1,200 metres of reverse
circulation drilling in aggregate will be completed at around 10 -
12 locations at Creswick. Following drilling, and allowing for
laboratory closures over the holiday period, assay results are
anticipated to be available midway through the first quarter of
2024.
Further updates will be provided in due course.
FOR FURTHER INFORMATION, PLEASE CONTACT:
ECR Minerals plc Tel: +44 (0) 20 7929 1010
David Tang, Non-Executive Chairman
Nick Tulloch, Managing Director
Andrew Scott, Director
Email:
info@ecrminerals.com
Website: www.ecrminerals.com
WH Ireland Ltd Tel: +44 (0) 207 220 1666
Nominated Adviser
Katy Mitchell / Andrew de Andrade
SI Capital Ltd Tel: +44 (0) 1483 413500
Broker
Nick Emerson
Novum Securities Limited Tel: +44 (0) 20 7399 9425
Broker
Jon Belliss
Brand Communications Tel: +44 (0) 7976 431608
Public & Investor Relations
Alan Green
ABOUT ECR MINERALS PLC
ECR Minerals is a mineral exploration and development company.
ECR's wholly owned Australian subsidiary Mercator Gold Australia
Pty Ltd ("MGA") has 100% ownership of the Bailieston and Creswick
gold projects in central Victoria, Australia, has six licence
applications outstanding which includes one licence application
lodged in eastern Victoria (Tambo gold project).
ECR also owns 100% of an Australian subsidiary LUX Exploration
Pty Ltd ("LUX") which has three approved exploration permits
covering 946 km2 over a relatively unexplored area in Lolworth
Range, Queensland, Australia. The Company has also submitted a
license application at Kondaparinga which is approximately 120km2
in area and located within the Hodgkinson Gold Province, 80km NW of
Mareeba, North Queensland.
Following the sale of the Avoca, Moormbool and Timor gold
projects in Victoria, Australia to Fosterville South Exploration
Ltd (TSX-V: FSX) and the subsequent spin-out of the Avoca and Timor
projects to Leviathan Gold Ltd (TSX-V: LVX), Mercator Gold
Australia Pty Limited has the right to receive up to A$2 million in
payments subject to future resource estimation or production from
projects sold to Fosterville South Exploration Limited.
ECR holds a 90% interest in the Danglay gold project; an
advanced exploration project located in a prolific gold and copper
mining district in the north of the Philippines, which has a 43-101
compliant resource. ECR also holds a royalty on the SLM gold
project in La Rioja Province, Argentina and can potentially receive
up to US$2.7 million in aggregate across all licences.
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December 11, 2023 02:04 ET (07:04 GMT)
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