ECR Minerals plc Update on Expected Availability of Drilling Results
28 May 2015 - 11:09PM
UK Regulatory
TIDMECR
ECR MINERALS plc
("ECR Minerals", "ECR" or the "Company")
AIM: ECR
US OTC: MTGDY
UPDATE ON EXPECTED AVAILABILITY OF DRILLING RESULTS
LONDON: 28 MAY 2015 - ECR Minerals plc advises that further to
ECR's announcement dated 1 May 2015, full assay results from the
diamond drilling programme completed at the Itogon gold project in
April 2015 are now expected to be available in June 2015.
Availability of the assay results has been delayed by factors
beyond ECR's control, namely extended QA/QC procedures at the
Company's chosen independent assay laboratory, and the
hospitalisation of a key laboratory employee with dengue fever.
Trenching and aerial survey work commenced at the Itogon project
in May 2015 as planned, and will continue during June 2015.
The Company continues to expect the results of bulk sampling
carried out at the Maestro Agüero gold prospect in Argentina in
March 2015 to be available in June 2015.
A programme of further geological mapping at the JV gold
prospect in Argentina commenced in May 2015 as planned, and in
addition, the geologist responsible for the mapping programme has
this week commenced an inspection of historical drill core from the
JV prospect with a view to gleaning additional geological insight.
Information regarding historical exploration data for the JV
prospect is available in the Company's announcement dated 24 June
2014.
Stephen Clayson, Chief Executive Officer of ECR, commented:
"It has been ECR's policy to provide the market with relatively
specific indications as to the anticipated timing of significant
exploration results. However, the Company is reliant on independent
laboratories for assay results, and sometimes unforeseen delays can
occur which are beyond our control. We hope that the delay in this
case will be brief."
ABOUT ECR
ECR is a mineral exploration and development company with, among
other interests, the right to earn a 50% interest in the Itogon
gold project in the Philippines. Itogon is an advanced exploration
project located in a gold and copper mining district in the north
of the Philippines.
ECR has a 100% interest in the SLM gold project in La Rioja
Province, Argentina, the exploration strategy for which is to
delineate multiple medium to high grade, low tonnage deposits
suitable for advancement to production on a relatively low capital,
near term basis.
ECR continues to review potential new investments on a highly
selective basis, with a concentration on precious, base and
strategic metals projects in Asia and South America.
FOR FURTHER INFORMATION PLEASE CONTACT:
ECR Minerals plc Tel: +44 (0)20 7929 1010
Paul Johnson, Non-Executive Chairman
Stephen Clayson, Director & CEO
Richard (Dick) Watts, Technical Director
Email: info@ecrminerals.com
Website: www.ecrminerals.com
Cairn Financial Advisers LLP Tel: +44 (0)207 148 7900
Nominated Adviser
Emma Earl/Jo Turner
Daniel Stewart & Company plc Tel: +44 (0)20 7776 6550
Broker
Martin Lampshire
FORWARD LOOKING STATEMENTS
This announcement may include forward looking statements. Such
statements may be subject to a number of known and unknown risks,
uncertainties and other factors that could cause actual results or
events to differ materially from current expectations. There can be
no assurance that such statements will prove to be accurate and
therefore actual results and future events could differ materially
from those anticipated in such statements. Accordingly, readers
should not place undue reliance on forward looking statements. Any
forward looking statements contained herein speak only as of the
date hereof (unless stated otherwise) and, except as may be
required by applicable laws or regulations (including the AIM Rules
for Companies), the Company disclaims any obligation to update or
modify such forward looking statements as a result of new
information, future events or for any other reason.
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