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 (EL006911 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 25th 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 (km2) |
| 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: +44 (0) 20 7929 1010 | |||
| David Tang, Non-Executive Chairman
Andrew Haythorpe, CEO |
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| Email: | ||||
| Website: www.ecrminerals.com | ||||
| WH Ireland Ltd | Tel: +44 (0) 207 220 1666 | |||
| Nominated Adviser
Katy Mitchell / Andrew de Andrade |
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| SI Capital Ltd | Tel: +44 (0) 1483 413500 | |||
| Broker | ||||
| Nick Emerson | ||||
| Novum Securities Limited | Tel: +44 (0) 20 7399 9425 | |||
| Broker
Jon Belliss |
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| Brand Communications | Tel: +44 (0) 7976 431608 | |||
| Public & Investor Relations | ||||
| Alan Green
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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 km2 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