ECR Minerals plc Strategic Business Update
November 06 2018 - 9:00AM
UK Regulatory
TIDMECR
6 November 2018
ECR MINERALS plc
("ECR Minerals", "ECR" or the "Company")
Strategic Business Update
ECR Minerals plc (LON:ECR), the precious metals exploration and
development company, is pleased to provide a strategic business
update for shareholders.
Gold Projects
ECR currently holds gold interests in Australia, Argentina and
the Philippines.
The Company has of late focused largely on the development of
its 100% owned gold portfolio with an emphasis on projects in the
Victoria region of Australia. Given the new and positive results
from Australia our work continues at pace across multiple
exploration activities and we will provide regular updates to
market as further progress is achieved.
Our recent work in Argentina in respect of the 100% owned Sierra
de las Minas project has highlighted a number of corporate avenues
through which we could demonstrate and build shareholder interests
in-country. In addition we continue to monitor developments in the
Philippines to identify suitable options to recognise the value of
our 25% interest in the Danglay gold project. All progress made
will be announced to the market as material developments occur.
Complementing the existing gold portfolio we have been presented
with a number of additional gold focused opportunities, the first
of which, the Iceberg gold project which was announced on 3 August
2018, is under an option agreement.
In respect of the Iceberg project ECR continues to pursue due
diligence activities. The due diligence process is covering a wide
review of the project and this has been extended to include
detailed examination of significant historical exploration work
including extensive geochemical data. Our work on this continues
and to allow for the detailed analysis being undertaken we have
agreed a further one month extension of the option period to 1
December 2018 at no additional cost to the Company. We thank the
proposed vendors for their support with this additional time
extension.
In addition to the Iceberg project the Company has identified a
number of strategic gold project acquisition opportunities which
are also under review. Should any specific project advance to
option or acquisition stage further announcements will be made to
the market.
Recognising the range and depth of opportunities and the
interest in ECR as a potential vehicle for new projects, we see a
considerable advantage in building a diverse, low-cost and
strategically significant portfolio of gold interests. We are aided
in this regard by the currently poor market conditions, which is
enabling gold opportunities to be acquired at a low cost entry
level, well within the resources available within the Company.
Energy Metals and Minerals
The ECR team is aware of the very significant interest being
shown in energy metals and minerals for battery technologies and
general electrification demand.
The Company has received recent specific interest from third
parties who have a strategic interest in the development of an
energy metals and minerals pipeline. This interest extends to the
potential injection of capital into new ventures should suitable
energy metal projects of merit be identified and acquired by the
Company.
Reflecting the potential for strategic support in this manner
ECR has identified a number of energy metal and mineral
opportunities that may be attractive and has a number of projects
under due diligence at present.
Should any specific project advance to option or acquisition
stage further announcements will be made to the market.
Craig Brown Chief Executive Officer of ECR Minerals plc
commented: "ECR Minerals finds itself at a very interesting point
in its development with a number of options for forward business
development and growth.
The backdrop of difficult conditions in the junior resource
sector has simply opened up multiple opportunities and although we
would all like to see stronger market conditions generally, ECR is
taking full advantage of the wide breadth of projects
available.
Further updates to follow."
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
SI Capital Ltd Tel: +44 (0)1483 413500
Broker
Nick Emerson
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.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20181106005539/en/
This information is provided by Business Wire
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