ECR MINERALS PLC: Portfolio Update
02 Diciembre 2021 - 1:00AM
UK Regulatory
TIDMECR
ECR MINERALS plc
("ECR Minerals", "ECR" or the "Company")
ECR Minerals formalises 25% shareholding in Cordillera Tiger
Gold Resources, owner of Exploration License EP-006 at the Danglay
Gold Project, N Philippines
ECR Minerals plc (LON: ECR), the gold exploration and
development company focused on Australia, is pleased to announce
that its 25% shareholding in Philippines based company Cordillera
Tiger Gold Resources, Inc. ("Cordillera Tiger", "Cordillera") has
been formalised and the Company is now in receipt of the share
certificate.
In July 2021, Cordillera Tiger successfully renewed Exploration
License EP-006 at the Danglay gold project, which is located in a
prolific gold and copper mining district in the north of the
Philippines.
Most recently, through Cordillera Tiger, ECR has been engaged in
a Community Development Programme in the Danglay area. Cordillera
has provided foodpack assistance, helping to get rice, canned meat
& fish delivered to families affected by COVID19 in the Danglay
region.
As reported in the Annual Report on March 23(rd) 2021, ECR is
entitled to a 25% interest in the Danglay gold project in the
Philippines, which is held by Philippines corporation Cordillera
Tiger Gold Resources, Inc. under an Exploration Permit. The
issuance of a 25% shareholding in Cordillera Tiger to the Company
has been delayed since 2016, largely due to a court case filed by
an individual who is a minority shareholder and former director of
Cordillera Tiger. This matter was successfully resolved, and ECR's
shareholding has now been formalised.
The ECR Board believes the political climate for the minerals
industry in the Philippines is improving and considers that the
Danglay gold project has potential for further exploration to build
upon the existing inferred mineral resource estimate of 63,500
ounces of gold at 1.55 g/t gold. This resource was reported by ECR
in 2015 to the Canadian NI43-101 standard, based on exploration
carried out at Danglay by ECR during 2014 and 2015. In addition to
the resource, an NI43-101 target for further exploration
(conceptual potential quantity and grade of mineralisation
expressed as ranges) of 95,000 to 170,000 ounces of gold at 5 to
7.5 g/t was reported.
ECR Chairman David Tang commented: "I am pleased to report that
after a lengthy delay, our 25% shareholding in Cordillera Tiger has
now been formalised and we are now in possession of the
documentation and share certificate. Shareholders will of course
know that ECR's priority and focus is on developing its Australian
assets, but with our commitment to helping the Danglay community
and our GBP1.2 million investment in the Danglay gold project to
date, we believe the resolution of this longstanding issue and the
improving political climate adds material value to the ECR asset
portfolio."
MARKET ABUSE REGULATION (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) as in force in
the United Kingdom pursuant to the European Union (Withdrawal) Act
2018. 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
Email:
info@ecrminerals.com
Website: www.ecrminerals.com
WH Ireland Ltd Tel: +44 (0)161 832 2174
Nominated Adviser
SI Capital Ltd Tel: +44 (0)1483 413500
Broker
Nick Emerson
Tel: +44 (0)20 7399 9425
Novum Securities Limited
Broker
Jon Belliss
Blytheweigh Tel: +44 (0) 207 138 3204
Public Relations
Tim Blythe
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 eight licence
applications outstanding including two licence applications lodged
in eastern Victoria. (Tambo gold project). MGA is currently
drilling at both the Bailieston and Creswick projects and has an
experienced exploration team with significant local knowledge in
the Victoria Goldfields and wider region.
https://mercatorgold.com.au/
ECR also owns 100% of an Australian subsidiary LUX Exploration
Pty Ltd ("LUX") which has three licence applications covering 900
km2 covering a relatively unexplored area in Queesnland,
Australia.
https://luxexploration.com/
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 25% 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.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20211201006206/en/
CONTACT:
ECR Minerals plc
SOURCE: ECR Minerals plc
Copyright Business Wire 2021
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December 02, 2021 02:00 ET (07:00 GMT)
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