ECR Minerals PLC Lolworth Exploration Update & Drilling Plans

RNS Number : 5946W

ECR Minerals PLC

11 February 2025

 

 

11 February 2025

 

ECR MINERALS PLC

 

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

 

Lolworth Project Exploration Update and Drilling Plans

 

ECR Minerals plc (AIM: ECR), the gold exploration company focused on Australia, provides an update on the latest exploration results from the Lolworth Gold and Critical Minerals Project, located in North Queensland, Australia (the "Lolworth Project") as well as ECR's 2025 field season plans for the Lolworth Project.

 

Highlights

·    Total of 165 pan concentrate samples collected from alluvial sources

·    9 samples returned gold values greater than 9 ppm Au

·    5 samples returned Niobium-Tantalum concentrations greater than 1,000 ppm of Nb (0.1%)

·    Discussions advancing with contractors for a proposed maiden Lolworth drilling programme

 

Programme Overview (see Map 1)

A total of 165 pan concentrate samples were gathered from alluvial sources in the Eastern Area of EPM27903, covering creeks located north of the Uncle Terry Prospect, east of the Gorge Creek Prospects and southeast of the Dagwood Prospect. These pan concentrate samples mark an initial phase of exploration, extending eastward beyond the previously examined regions of Gorge Creek and Dagwood.

 

Summary of Gold Results (See Table 1)

 

·    Nine samples yielded gold values exceeding 9 ppm Au.

 

·    Three high-grade samples reported concentrations of 1,245 ppm, 175.5 ppm and 127 ppm Au.

 

The most significant results came from creeks in the headwaters of Fat Hen Creek, situated one mile east of the Dagwood Prospect. These findings indicate the potential presence of undiscovered gold sources in the surrounding hills.

 

Additional high-grade results were identified in streams draining from the ridgeline east of the Gorge Creek Prospects, reinforcing evidence of further gold-bearing sources in the area.

 

A high gold anomaly detected in creeks north of the Uncle Terry Prospect area suggests that mineralisation extends beyond the currently mapped prospect boundaries.

 

Summary of Niobium-Tantalum Results (See Table 2)

 

·    Five samples yielded Niobium-Tantalum concentrations exceeding 1,000 ppm of Nb (0.1%).

 

These samples were taken from streams along the northwestern margin of what is interpreted to be a Pegmatitic Intrusional Complex. The southern boundary of this intrusion remains untested and is a priority for future sampling.

 

Lolworth 2025 Field Season Plans

Building on the successful exploration campaign in 2024, ECR is refining its focus on five key gold prospects including Gorge Creek West, Butterfly Creek, Uncle Terry, Gorge Creek Diggings and Woolshed Creek. 

 

These prospects have been identified for sub-surface evaluation by drilling, with discussions currently underway with drilling contractors. Further announcements will be made in due course. 

 

Adam Jones, ECR's Chief Geologist, said: "These latest results from the Lolworth Project reinforce our confidence in the Project's gold and critical minerals potential. The discovery of high-grade gold samples in new areas, along with potentially significant niobium-tantalum values, highlights the untapped potential of this under-explored region. We look forward to further defining these targets through drilling in 2025."

 

Nick Tulloch, ECR's chairman, said: "Although visiting Lolworth was not on the itinerary for my recent visit to Australia, it featured prominently in discussions during the week. The scale of the project area and our ongoing very promising results from the work we are undertaking there gives us considerable optimism for our forthcoming drilling plans.  Our partnerships with Geological Survey of Queensland and James Cook University at Lolworth are a further reminder of the widening interest of a project that is prospective for both gold and critical minerals."

 

Map 1: Selected Lolworth Project Sampling Areas

 

 

 

Table 1: Best Gold Results

SAMPLEID	EASTING	NORTHING	AU (ppm)
LWSS1330	318676	7748810	1245
LWSS1391	315624	7752864	175.5
LWSS1332	318167	7749120	127
LWSS1286	319047	7752681	66.3
LWSS1293	318921	7750003	59.3
LWSS1061	315287	7750587	39.7
LWSS1346	311707	7752255	24.7
LWSS1388	315222	7752953	24.1
LWSS1287	318743	7753167	9.14

 

Table 2: Best Niobium-Tantalum Results

SAMPLEID	EASTING	NORTHING	NB (ppm)	TA (ppm)
LWSS599	320857	7752191	1650	640
LWSS1283	325152	7750992	1260	340
LWSS1349	312097	7751890	1240	360
LWSS1334	318139	7749781	1055	430
LWSS1271	323775	7748669	1020	430

 

 

Review of Announcement by Qualified Person

 

This announcement has been reviewed by Adam Jones, Chief Geologist at ECR Minerals Plc. Adam Jones is a professional geologist and is a Member of the Australian Institute of Geoscientists (MAIG). He is a qualified person as that term is defined by the AIM Note for Mining, Oil and Gas Companies.

 

FOR FURTHER INFORMATION, PLEASE CONTACT:

 

ECR Minerals Plc			Tel: [phone]
Nick Tulloch, Chairman Andrew Scott, Director
Email: [e-mail]
Website: www.ecrminerals.com
Allenby Capital Limited			Tel: [phone]
Nominated Adviser  Nick Naylor / Alex Brearley / Vivek Bhardwaj			[e-mail]
Axis Capital Markets Limited			Tel: [phone]
Broker
Ben Tadd / Lewis Jones
SI Capital Ltd			Tel: [phone]
Broker
Nick Emerson
Brand Communications		Tel: [phone]
Public & Investor Relations
Alan Green

 

Glossary 

 

Au:	Gold
km:	Kilometres (Metric)
km²:	Kilometre squared (Metric)
Nb:	Niobium
Pegmatitic Intrusional Complex:	Group of pegmatite veins that form within an intrusive igneous rock
ppm:	Parts per million (Metric)
Ta:	Tantalum

                                                               

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), MGA 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. 

 

MGA also has approximately A$75 million of unutilised tax losses incurred during previous operations.

 

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