ECR MINERALS PLC: New Exploration Tenements EL006911 and EL006912 granted at Bailieston, Victoria

TIDMECR 
 
 

ECR MINERALS plc

("ECR Minerals", "ECR" or the "Company")

New Exploration Tenements EL006911 and EL006912 Granted at Bailieston, Victoria

ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce two new exploration tenements have been granted to ECR's wholly owned subsidiary Mercator Gold Australia Pty Ltd ("MGA") at Bailieston, Victoria, Australia.

HIGHLIGHTS

   -- Two new exploration tenements (EK006911 and EL 006912) adjacent to EL5433 
      have been formally granted to ECR's wholly owned subsidiary MGA. 
 
   -- Total exploration land package at Bailieston (EL5433, EL006911, EL006912) 
      now totals 179 square kilometres. 
 

ECR CEO Andrew Haythorpe commented: "I am delighted to report that we have finally been able to secure these long-awaited exploration licenses. The two tenement packages add what we consider to be a significant new dimension to the exploration potential at Bailieston, and with our planned exploration activities in Victoria and N Queensland funded from our recent fundraise, we are entering a busy and potentially productive period in our evolution as a Company."

The location of ECR Minerals plc new Bailieston tenements can found at the following link:

Figure 1: https://www.ecrminerals.com/images/2022/fig1_EL006911-EL006912_Granted_131222.png

Exploration tenements EL006911 and EL006912 were applied for on 25(th) January 2019 and were formally granted to ECR's wholly owned subsidiary MGA by the Victorian Government on 8 December 2022. Both tenements have been granted for a five-year term. ECR is required to commit a minimum expenditure of $85,500 AUD on EL006911 and $155,850 AUD on EL006912 over the term of the licence. Initial ground activities such as mapping, soil and rock chip sampling will commence in the new year.

EL006911 adjoins the historic gold mining area known as the 'Old Black Cat'. EL006912 adjoins EL5433 immediately on the western side of the HR3 Goldfield and Blue Moon prospects. Gold and Antimony prospects lie within the tenements.

ECR is still awaiting the granting of EL007296 which was applied for earlier this year, and which will complete the Bailieston exploration package.

ECR Minerals total granted Victorian exploration package now totals 610 square kilometres.

Table 1: ECR Minerals current exploration tenements (granted and applied), Victoria, Australia (as of December 2022)

 
Tenement   Name             Granted           Expiry             Area (km(2) ) 
EL5433     Bailieston       28/03/2013        27/03/2023         23 
EL006184   Old Creswick     29/12/2016        *Renewal applied   45 
EL006907   South Creswick   26/11/2021        25/11/2026         81 
EL007484   Boucher Town     26/11/2021        25/11/2026         374 
EL006911   Graytown 1       5/12/2022         4/12/2027          10 
EL006912   Graytown 2       8/12/2022         7/12/2027          77 
EL006713   New Creswick     in application                       (66) 
EL007296   Wirrate          in application                       (32) 
EL007486   Ramrod Creek     in application                       (322) 
EL007537   Ballarat         Competing application                (138) 
                             TOTAL granted                       610 
 

(*) notes exploration application area in square kilometres.

FOR FURTHER INFORMATION, PLEASE CONTACT:

 
ECR Minerals plc                      Tel: [phone] 
David Tang, Non-Executive Chairman 
 Andrew Haythorpe, CEO 
 
Email: 
 [e-mail] 
Website: www.ecrminerals.com 
 
WH Ireland Ltd                        Tel: [phone] 
Nominated Adviser 
 Katy Mitchell / Andrew de Andrade 
 
SI Capital Ltd                        Tel: [phone] 
Broker 
Nick Emerson 
 
Novum Securities Limited              Tel: [phone] 
Broker 
 Jon Belliss 
 
Brand Communications                  Tel: [phone] 
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). MGA is currently drilling at the Bailieston Blue Moon Project (EL5433) and undertaking geochemical exploration on the Creswick (EL6148) project and has an experienced exploration team with significant local knowledge in the Victoria Goldfields and wider region.

ECR also owns 100% of an Australian subsidiary LUX Exploration Pty Ltd ("LUX") which has three approved exploration permits covering 946 km(2) over a relatively unexplored area in Queensland, Australia.

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 70% 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

View source version on businesswire.com: https://www.businesswire.com/news/home/20221213005759/en/

 
    CONTACT: 

ECR Minerals plc

 
    SOURCE: ECR Minerals plc 
Copyright Business Wire 2022 
 

(END) Dow Jones Newswires

December 13, 2022 08:56 ET (13:56 GMT)