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ECR Minerals #ECR – Andrew Haythorpe & Adam Jones talk to Alan Green – June 2023
ECR’s Andrew Haythorpe & Adam Jones talk to Alan Green – June 2023. Adam Jones is live from the bush in Queensland, and initially discusses early findings at the Hurricane project, along with the plan of action for sampling and drilling in the coming months. Andrew then discusses the background to Hurricane and his knowledge of the project prior to his time with ECR, before discussing the plan to undertake a LIDAR survey of the project area. Adam and Andrew then discuss the latest progress from Lolworth, and the focus areas for sampling following the gold, niobium and tantalum discoveries last year and how Lolworth is shaping up into a multi commodity project of significant scale. Andrew then discusses the funding position, the challenging markets, plans for further non-core asset disposals and plans for the second drill rig that recently arrived at Melbourne. Finally Andrew re affirms his view that ECR has the some of the best assets he’s seen in recent years
ECR Minerals playing the big game – Andrew Scott talks to Andrew Haythorpe and Adam Jones
In a new June 2023 ‘on the ground’ interview, Andrew Scott talks to Andrew Haythorpe and Adam Jones about the exploration programme. Adam covers his schedule, boots on the ground at Hurricane (5-7 days) meeting the previous owner, and he will then be at Lolworth for the rest of June taking rock chips and sampling where the tantalum & niobium and rare earths were discovered last year. Andrew Haythorpe talks about the bigger picture for Lolworth in the back yard of Charters Towers, Pajingo etc, looks at the 1980s results, how the area is so unexplored and why the results, size and scale of the area offers so much potential. Both believe that very little would be needed to put the Lolworth discoveries on the scale of Charters Towers, given the 10km ridgeline, the specific area of interest 3.5 x 4km (12-20sq km), but there is also an overlap in the SE of the tenement with the same geology, which is totally untested, which could be 3x the size of the current ridgeline. Adam and Andrew then discuss the planning for Hurricane, putting in access tracks to the breccia veins with bulldozers and an initial RC drilling plan. Andrew explains how the current private landowners have been unable to exploit the asset, and how ECR are the first company with significant resources to get on the ground there.
Moving to Creswick, Adam touches on the underwhelming initial results, but points to the fact there is a 10k trend that remains to be tested, and the reasons why ECR has to work smarter. Adam looks at the geology of nearby Ballarat compared to Creswick – similar structure, narrow vein, anticlines etc, with some 30 veins already identified along the 10k strike. In summary, Andrew highlights the work Adam and the team have done with soil geochemistry and sampling and how they are ‘ranking’ the prospects to get the biggest bang for the ECR buck. In summary, the ECR team are are here to find good grades. Lolworth has some ‘smoking’ mineralisation and Andrew believes at Hurricane will deliver at 20-40-60m below surface, in other words a classicAustralian open cut mining start up which gives ECR a chance to play the big game.
ECR Minerals #ECR – CEO Andrew Haythorpe discusses exploration progress at Queensland & Victoria
ECR CEO Andrew Haythorpe discusses the latest exploration progress at Victoria and the transition to Queensland. Andrew discusses the potential he sees at Lolworth, with 30 different gold occurrences plus niobium and tantalum already at such an early phase. He then looks at the Hurricane project, and how the gold in veins at surface are consistently 1-5m thick (one was 60m thick), which leads to a consistent 1-5 g/t at surface, and the most recent project acquisition, the Blue Mountain project where there is a lot of alluvial gold. Andrew then covers how low cost work programmes including geophysics and geochemistry, RC drilling keep the costs down and will identify the biggest and best anomalies. On funding, there are plans for further asset sales, and he confirms ECR are fully funded for all QLD and Victoria exploration this year. In summary, Andrew believes the chances of pinning down a major find in Queensland is much better. ECR has the right people and right geology, plus there could be some major players keen on partnering in Queensland.
ECR Minerals #ECR – CEO Andrew Haythorpe talks through Blue Mountain and other projects
ECR Minerals #ECR – CEO Andrew Haythorpe talks through Blue Mountain and other projects with Andrew Scott. The Blue Mountain project represents a wonderful opportunity in an accessible part of Queensland. With impressive recoveries there by previous operators, the project compliments other Queensland projects from a logistical. standpoint. Andrew also discusses Lolworth, and how the team are very keen to get back to discover the primary source for Nb Ta Li and Au before looking at the drill campaign at Creswick and the drill ready targets at Hurricane. Andrew the looks at his ongoing role as CEO and how ECR is a well funded company, although he reminds us that every overnight success takes a few years to generate!
ECR Minerals #ECR Interview – Creswick Results and 2023 Operating Plan
February 2023: Andrew Scott talks to Andrew Haythorpe and Adam Jones. The high grade results from Creswick are first on the agenda, and Adam discusses the un mined high grades discovered in the adits (tunnels) at ECR’s Brewery Lane property, and the grades from the rock chip sampling at Mills Reef on the new tenement 4km to the south. The rig will be moved to the Brewery Lane property and a diamond drilling will commence.
Andrew discusses how the core resampling last year and the results from sampling means the team can plan drill targets with real confidence – ” a real opportunity as soon as we can get the drill rig onsite”. He confirms that there have been no JV approaches or conversations yet.
Andrew then discusses Blue Moon – while the mineralised grades were lower than hoped, there are a couple more assays to come and a further hole left to complete.
Adam then discusses the lab used by ECR in Ballarat, which now turns samples around in 2-2.5 weeks, before turning to Tambo, where some initial data analysis is underway ahead of an initial field visit.
Andrew and Adam then discuss Lolworth, a potentially ‘world class’ discovery, where lithium, niobium and tantalum have been discovered along with an extraordinary amount of gold. The 10km ridgeline sits to the north of the lithium anomalies and represents a fantastic opportunity – potentially a company building asset.
Andrew then discussed the new Hurricane project awaiting completion of due diligence and approvals, and then talks through the imminent arrival of the 2nd drill rig and its likely deployment.
The team finally summarise the operating plan, possible asset disposals and the level of commitment across the company. The last word is from Andrew – “with 20yrs experience in the industry, ECR has the best portfolio of assets I have seen over that time”
ECR Minerals #ECR – Andrew Scott, Andrew Haythorpe & Adam Jones discuss Creswick, Blue Moon, Bailieston, Lolworth, Hurricane & plans for 2023
Andrew Scott, Andrew Haythorpe & Adam Jones discuss today’s developments at Creswick plus the latest developments from Blue Moon, Bailieston, Lolworth, Hurricane. At Creswick the team talk through how workings there produced several m oz of gold production over a century ago, and how the team are seeking out the primary sources. Updates on the latest license applications and approvals, before Adam talks through the latest from Lolworth and the pegmatites identified in the Gorge Creek area. Andrew Haythorpe says he was astonished by the amount of visible gold & lack of follow up -and with the abundance of mineralisation styles, early results are way in excess of what he’d hoped for. Onto Blue Moon, and the drill team are finishing off the last four holes, testing continuity of mineralisation some 200m to the west. Adam explains how the team are speeding up assays, they have located a local lab in Bendigo which can turn around assays in 10-14 days. Andrew Haythorpe then talks through the rationale behind the recent fund raise, and how the funding will enable ECR to maintain multiple aggressive drill campaigns, before moving onto the plans to get on the ground and establish drill pads etc at Hurricane in May, June next year. With the new drill rig undergoing commissioning in January, the team expect to deploy it during Q1, and Adam outlines drill plans for Q1, with Blue Moon expected to finish in February and then a push on Creswick on ECR’s own Brewing Lane property. Andrew Haythorpe concludes, stating there will be a steady flow of news in Q1 2023, and says that the Company has now built a great foundation for shareholders in 2022.
ECR Minerals #ECR – Equity Placing to Raise GBP900,000
ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce that the Company has today raised £900,000 by way of a placing and direct subscription.
SI Capital Limited has today placed on behalf of the Company 66,666,653 new ordinary shares in the Company (“Placing Shares”) at a price of 0.9 pence per share to raise gross proceeds of c.£600,000 (the “Placing“), subject only to Admission; and the Company has also raised a further c£300,000 by way of the issue of 33,333,333 new ordinary shares (“Subscription Shares”) at a price of 0.9p per share, subject only to receipt of the funds and Admission.
Both the Placing Shares and the Subscription Shares were also accompanied by the issue of one warrant to subscribe for one ordinary share in the Company for each new share issued (the “New Warrants”). When issued, the New Warrants will be exercisable at any time, for a period of 2 years from the date of admission of the Placing Shares and the Subscription Shares (as applicable) at an exercise price of 1.5p each.
The monies raised in this fundraise will be used by the Company as follows:
Victoria assets:
- Progress work on the Blue Moon project and other Bailieston assets.
- Progress work on the Creswick project following the results of the re-assay of diamond drill core announced recently.
- Commence initial studies at the Tambo project.
North Queensland assets:
- Progress work on the Lolworth Project, where an extensive sampling campaign has recently been completed.
- Progress work at the Hurricane Project following the recent announcement of a conditional option to acquire 100% of Placer Gold, owner of the Hurricane Project located west of Cairns in the Hodgkinson Province, NE Queensland.
And for general working capital
Application will be made for the Placing Shares and the Subscription Shares to be admitted to trading on AIM (“Admission“) and it is expected that Admission will become effective on or around 19 December 2022. The Placing Shares and the Subscription Shares will rank pari passu with the existing ordinary shares. Upon Admission, ECR’s issued ordinary share capital will comprise 1,167,737,145 ordinary shares of 0.001p. This number will represent the total voting rights in the Company, and, following admission may be used by shareholders as the denominator for the calculation by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority’s Disclosure and Transparency Rules.
ECR CEO Andrew Haythorpe commented: “I am delighted to announce that we have received strong support from new and existing investors following my recent visit to London to attend the 121 Mining Investment and Mines and Money events. As outlined above, the funds raised will be used to progress our projects at Victoria and Queensland and also to explore new opportunities.”
“I look forward to reporting further progress on our project portfolio very shortly.”
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (“MAR”), AND IS DISCLOSED IN ACCORDANCE WITH THE COMPANY’S OBLIGATIONS UNDER ARTICLE 17 OF MAR.. IN ADDITION, MARKET SOUNDINGS (AS DEFINED IN MAR) WERE TAKEN IN RESPECT OF THE MATTERS CONTAINED IN THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN PERSONS BECAME AWARE OF SUCH INSIDE INFORMATION AS PERMITTED BY MAR. THAT INSIDE INFORMATION IS SET OUT IN THIS ANNOUNCEMENT AND HAS BEEN DISCLOSED AS SOON AS POSSIBLE IN ACCORDANCE WITH PARAGRAPH 7 OF ARTICLE 17 OF MAR. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THE INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION IN RELATION TO THE COMPANY AND ITS SECURITIES
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 |
||||
| SI Capital Ltd | Tel: +44 (0) 1483 413500 | |||
| Broker | ||||
| Nick Emerson | ||||
| Novum Securities Limited | Tel: +44 (0) 20 7399 9425 | |||
| Broker
Jon Belliss |
||||
| 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
ECR Minerals #ECR – Andrew Scott, Andrew Haythorpe & Adam Jones discuss Blue Moon & other projects
ECR’s Andrew Scott, Andrew Haythorpe & Adam Jones discuss today’s developments at Blue Moon & other projects. Andrew Haythorpe describes the consistent predictable grades across Blue Moon and says today’s hole assay is just another step in that direction. Adam then covers the drilling campaign, following the 2019 RC drilling campaign. The current hole is 150m to the west, and with holes 100-200m apart the results are promising, with bleaching on the core consistent with the structure. Currently three holes have been completed 3 holes, if mineralisation continues then “happy days”, a possible resource. Assays from the remaining holes should be back in early December, so. the company will announce next steps and next drill holes then. Plenty more to look forward to as well – Omeo hasn’t even been touched yet, plenty of blue sky potential, Hurricane mineralisation on surface, Lolworth assays pending from stream sediment and rock chips, field team back out there in a few days. All field samples now with the labs, looking like a good Christmas and strong start to 2023.
ECR Minerals #ECR – Encouraging Results from First Drill Hole of 2022 at Blue Moon, Victoria
ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce gold results from the first drillhole for 2022 (BBMDD004) completed at Blue Moon.
ECR Minerals plc has 100% ownership of the Bailieston Project (EL5433), which contains the gold prospects known as HR3, Cherry Tree, Blue Moon and Black Cat. The projects are operated and drilled by ECR’s Australian wholly owned subsidiary Mercator Gold Australia Pty Ltd (“MGA”).
ECR CEO Andrew Haythorpe commented: “I am pleased to report an encouraging grade from the first Blue Moon drill hole of the 2022 Blue Moon campaign. The programme has been designed to test for mineralised continuity of the Blue Moon gold bearing structure and we’re very encouraged by what we’ve seen so far. As previously stated, the drill site is located west of where the 2019 RC drill programme finished, so a decision on further drilling activity will be made once the results for the remaining holes are in.”
“ECR is entering a busy period as we complete our initial sampling campaign at Lolworth and finalise planning an initial field campaign at the Hurricane project in N Queensland. With soil sample lab results from Creswick also due, I am very much looking forward to reporting results of the next three Blue Moon holes along with our next steps to the market as and when we have them.”
HIGHLIGHTS
- Results from the first diamond drillhole for 2022 are encouraging with 0.5m @ 7.29 g/t Au from 96.9m.
- Drilling continues with three out of a planned four-hole program completed to date with samples awaiting results pending.
Figure 1. Best gold intercept with the BBMDD004 drill core is represented here;
https://www.ecrminerals.com/images/2022/fig1_Best_Intercept_BBMDD004.png
BBMDD004
BBMDD004 is the first diamond drillhole completed from an initial four-hole programme designed to test for mineralised continuity of the Blue Moon gold bearing structure. The drill site is located west of where the 2019 RC drill programme finished. Hosted within an east-west striking dyke formation, mineralisation at the Blue Moon prospect is characterised by alteration and bleaching of the dyke as seen in figure 1 above. The mineralised fluids responsible for the bleaching are also identified by the increase in the arsenic geochemistry and pyritic sulphidation. Geological logging to date has also identified that gold mineralisation is most evident in the vicinity of millimetre scale swarms of quartz-carbonate veinlets (figure 1). The best intercept in BBMDD004 of 0.5m @ 7.29 g/t Au from 96.9m downhole is associated with such veinlets. All reportable gold intercepts greater than 0.1 g/t Au from hole BBMDD004 are presented in Table 1 below.
NEXT STEPS
Drilling is now complete at three out of the four planned holes. Sampling has also been completed and we anticipate that the next results will be reported before the Christmas period. The drill core looks encouraging with typical bleaching and sulphides present in all holes drilled to date. Accordingly, the Directors have agreed that the final decision to continue with further drilling will be based on the pending drill results.
Table 1. Drill intercepts containing reportable levels of gold in BBMDD004
| From (m) | To (m) | Grade (g/t Au) | Interval (m) | Gram x Metres |
| 35 | 36 | 0.11 | 1 | 0.11 |
| 36 | 36.6 | 0.11 | 0.6 | 0.07 |
| 85.4 | 86.4 | 0.56 | 1 | 0.56 |
| 86.4 | 87.4 | 0.17 | 1 | 0.17 |
| 87.4 | 88 | 0.27 | 0.6 | 0.16 |
| 88 | 89 | 0.15 | 1 | 0.15 |
| 89 | 89.9 | 0.72 | 0.9 | 0.65 |
| 89.9 | 91 | 0.31 | 1.1 | 0.34 |
| 92 | 93 | 0.20 | 1 | 0.20 |
| 96.9 | 97.4 | 7.29 | 0.5 | 3.65 |
| 97.4 | 98.4 | 0.21 | 1 | 0.21 |
*Gram metres represents the contained Au metal within the reported length, calculated as interval (m) multiplied by grade (g/t Au)
REVIEW OF ANNOUNCEMENT BY QUALIFIED PERSON
This announcement has been reviewed by Adam Jones, Technical Director of Exploration 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: +44 (0) 20 7929 1010 | |||
| David Tang, Non-Executive Chairman Andrew Haythorpe, CEO | ||||
| Email: info@ecrminerals.com | ||||
| Website: www.ecrminerals.com | ||||
| WH Ireland Ltd | Tel: +44 (0) 207 220 1666 | |||
| Nominated Adviser Katy Mitchell / Andrew de Andrade | ||||
| SI Capital Ltd | Tel: +44 (0) 1483 413500 | |||
| Broker | ||||
| Nick Emerson | ||||
| Novum Securities Limited | Tel: +44 (0) 20 7399 9425 | |||
| Broker Jon Belliss | ||||
| Brand Communications | Tel: +44 (0) 7976 431608 | |||
| 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 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
Andrew Scott and ECR Minerals #ECR CEO Andrew Haythorpe discuss the Placer Gold & Hurricane Acquisition
Andrew Scott and ECR Minerals #ECR CEO Andrew Haythorpe discuss the Placer Gold & Hurricane Acquisition.
Andrew H explains how, through his previous work at Hurricane, the area is high prospective for gold and antimony. A raft of historical data, numerous veins of mineralisation between 2-5m thick containing 1, 2, 5, 20 g/t – commercial grades. The region is inland from Port Douglas, and due to the relatively inhospitable climate has never been drilled, although a colleague geologist visited the area last year and reported back to Andrew on the extensive veining and mineralisation.
Andrew then discusses the option to acquire the project, very much a try before you buy approach in that the initial fee goes into the ground. Then, armed with the knowledge of the region from drilling, the option to buy, is he believes a great, risk managed approach. The potential acquisition is a good fit for ECR, which sits well alongside the Lolworth project, also being in the same region. The acquisition is a step change for ECR – Andrew says the team will be knocking on the rocks with gold in them.