ECR Minerals plc Argentina Progress Update
15 August 2018 - 4:00PM
UK Regulatory
TIDMECR
ECR MINERALS plc
("ECR Minerals", "ECR" or the "Company")
ARGENTINA PROGRESS UPDATE
ECR Minerals plc (LON:ECR) the precious metals exploration and
development company is pleased to provide an update to shareholders
following the visit by the Company to Argentina to discuss the
status and plans in respect of the Company's existing interests and
also to consider potential new opportunities in Argentina that may
complement existing interests.
The Company previously outlined the latest position in respect
of Argentinian operations in its full year report released 29 March
2018. Then, despite having established a next stage exploration
programme for the Sierra de las Minas ("SLM") gold prospective
licences, reflecting the need to conserve cash resources and to
consider various corporate developments in the area of the
Company's operations, the Company decided to watch developments and
conserve resources for a period.
During the visit to Argentina a full review of the SLM project
licences was undertaken, including relevant liaison with the
Ministry of Mining in La Rioja province. We are pleased with the
outcome of this review and the opportunities we have identified for
exploration of potentially high-grade gold mineralisation. With the
Company's enhanced financial strength we have now restarted our
work and further information will follow with regard to the
specific work programme we intend to implement.
Of particular interest during the Company's visit we have
identified additional licence areas that could complement the
existing gold prospective ground and we will provide further
updates in due course if there are any developments in this
area.
Furthermore during a review of additional, non-gold focused
projects, the Company has identified a number of completely new
opportunities including a lithium and poly-metallic high impact
exploration opportunity. Again, if these progress then we will
provide further updates.
Craig Brown, Chief Executive Officer of ECR Minerals plc,
commented: "Following the Company's recent fundraise the business,
as previously highlighted, is in a robust financial position. With
our significant cash at bank and with core costs covered into late
2019 we have been able to look with fresh eyes at all the Company's
interests in order to advance existing projects and also seek new
additional complementary opportunities.
Our main driving force of late has been Australian exploration
and that will continue with the Board currently in Perth to review
progress in our existing Victoria interests, to undertake due
diligence in respect of the recently announced Iceberg gold project
and to review a number of new and potential opportunities.
ECR has a long history of working in South America and
particularly Argentina. We visited Argentina last week and held
various meetings and discussions. Our engagement with the
Department of Mining was particularly productive and we were highly
encouraged by their professionalism and support for our investment
in La Rioja province. In addition during our visit we were
extremely pleased with the opportunities presented to expand our
existing interests in gold and also lithium.
The Board have decided to become more proactive in Argentina and
are now pursuing a number of initiatives upon which we will report
to market if they were to progress. We look forward to updating
shareholders on our progress in due course".
COMPETENT PERSON STATEMENT
The information in this announcement that relates to Exploration
Results is based on information compiled by Dr Rodney Boucher of
Linex Pty Ltd. Linex Pty Ltd provides geological services to
Mercator Gold Australia Pty Ltd, including the services of Dr
Boucher, who has a PhD in geology, is a Member and RPGeo of the
Australian Institute of Geoscientists and is a Member of the
Australian Institute of Mining and Metallurgy. Dr Boucher has
sufficient experience that is relevant to the style of
mineralisation and type of deposit under consideration and to the
activity being undertaken to qualify as a Competent Person as
defined in the 2012 Edition of the 'Australasian Code for Reporting
of Exploration Results, Mineral Resources and Ore Reserves'. Dr
Boucher consents to the inclusion in the announcement of the
material based on his information in the form and context in which
it appears.
ABOUT ECR MINERALS PLC
ECR is a mineral exploration and development company. ECR's
wholly owned Australian subsidiary Mercator Gold Australia has 100%
ownership of the Avoca, Bailieston, Creswick, Moormbool and Timor
gold exploration licences in central Victoria, Australia.
ECR has earned a 25% interest in the Danglay epithermal gold
project, an advanced exploration project located in a prolific gold
and copper mining district in the north of the Philippines. An
NI43-101 technical report was completed in respect of the Danglay
project in December 2015 and is available for download from ECR's
website.
ECR's wholly owned Argentine subsidiary Ochre Mining has 100%
ownership of the SLM gold project in La Rioja, Argentina.
Exploration at SLM has focused on identifying small tonnage
mesothermal gold deposits which may be suitable for relatively
near-term production.
MARKET ABUSE REGULATIONS (EU) No. 596/2014
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 (MAR). Upon the
publication of this announcement via Regulatory Information Service
(RIS), this inside information is now considered to be in the
public domain.
FOR FURTHER INFORMATION, PLEASE CONTACT:
ECR Minerals plc Tel: +44 (0)20 7929 1010
David Tang, Non-Executive Chairman
Craig Brown, Director & CEO
Email:
info@ecrminerals.com
Website:www.ecrminerals.com
WH Ireland Ltd Tel: +44 (0)161 832 2174
Nominated Adviser
Katy Mitchell/James Sinclair-Ford
Optiva Securities Ltd Tel: +44 (0)203 137 1902
Broker
Graeme Dickson
SI Capital Ltd Tel: +44 (0)1483 413500
Broker
Nick Emerson
FORWARD LOOKING STATEMENTS
This announcement may include forward looking statements. Such
statements may be subject to numerous 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 because of new information,
future events or for any other reason.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20180814005785/en/
This information is provided by Business Wire
(END) Dow Jones Newswires
August 15, 2018 02:00 ET (06:00 GMT)
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