ECR Minerals plc UK Regulatory Announcement: Latest Results for Lolworth Gold, Niobium, Tantalum and REE Samples

LONDON–(BUSINESS WIRE)– 

ECR MINERALS plc

(“ECR Minerals”, “ECR” or the “Company”)

Latest Results for Lolworth Gold, Niobium, Tantalum and REE Pan Concentrate Stream Samples

ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce the first batch of results for follow-up pan concentrate stream sampling targeting Gold, Niobium, Tantalum and REE at the Lolworth Project, Queensland.

ECR Minerals plc has 100% ownership of three exploration tenements (EPM27901, EPM27902 and EPM27903), which covers the Lolworth Range, located 120km west of the famous gold district of Charters Towers. Previous exploration campaigns from 2021 have identified the presence of Gold (Au), Niobium-Tantalum (Nb-Ta) and REE mineralisation within the licenced area. The project is being explored under ECR’s Australian wholly owned subsidiary Lux Exploration Pty Ltd (“LUX”).

HIGHLIGHTS

• A total of 200 results for pan concentration stream samples from the first part of the 2023 field season have been received.
• Gold pan concentrates with results up to 594 ppm and multiple occurrences of visible gold have been recorded around the Reedy Creek area.
• 28 out of 200 samples show values greater than 500 ppm in Niobium, and these results continue to add to the Board’s confidence that we are zeroing in on the source rocks and a potentially significant discovery.
• Rare Earth Element (Neodymium) has also been identified over a broad area of the project area with 19 out of the 200 samples greater than 1000ppm Nd.

CEO Andrew Haythorpe commented: “Putting aside the fact today’s results add a further significant piece to the Lolworth jigsaw, the progress announced today also serves to illustrate the painstaking and methodical work by Adam Jones and the field team in mapping and logging a hitherto virtually untouched and unexplored area. The detail now provided by the numerous Gold, Niobium and Tantalum results generated from this work are enabling us to zero in on the sources and the high potential locations in order that we can delineate drill targets.”

“ECR’s Lolworth project continues to exceed expectations. Meanwhile we expect to report further results from our projects within a week.”

(Figure One) Map of the Lolworth Project area with locations of best Gold Prospects Identified to date on the Lolworth Project Area:

https://www.ecrminerals.com/images/2023/Fig1_Gold_Aug-2023.png

(Figure Two) Map of Gold results to date from the Reedy Creek area:

https://www.ecrminerals.com/images/2023/Fig2_Reedy-Ck_Aug-2023.png

(Figure Three) Overview map showing the values of Niobium and Neodymium across the Lolworth Project area:

https://www.ecrminerals.com/images/2023/Fig3_Nb-Ta-Nd_Aug-2023.png

FIRST PAN CONCENTRATE RESULTS FOR 2023

ECR has received 200 results from the first submitted batch of pan concentrate samples for the 2023 field season. A total of 628 pan concentrate samples have been taken since the beginning of exploration at the Lolworth Project in 2022, and the field team continue to record daily occurrences of visible gold during the pan sampling process. Best gold results include 594 ppm and 138 ppm Au, and these are supported by the recurring presence of coarse visible gold.

Despite these promising readings, there is naturally a degree of bias due to the regular visible gold occurences, and the Board wish to stress that these results are not indicative of an in-situ resource within the creek itself. Nonetheless, the collective results do conclude that gold is present in these creeks and the sources could be present in the headwaters of these stream drainages. The field team has started the field season focussed on the Niobium-Tantalum (Nb-Ta) drainages of Oaky Creek and the Gold (Au) drainages in the vicinity of Reedy Creek (see Figures Two and Three above).

REEDY CREEK AREA

Situated within the centre of the Project area (see Figure One above), the drainages in the vicinity of Reedy Creek show the presence of gold only, with no indication of Nb or Ta. During field work, it was discovered that one stream within the area displayed signs of previous alluvial mining activity, most likely to be from the 1870’s. Although the adjacent drainage channels have yet to be fully worked through, the field team has already recorded the presence of gold during the current exploration program (see Figure Two above). In addition to this, the field team has also discovered coarse nuggety gold on the flats adjacent to other drainage channels in this area, along with visible gold discoveries in streams to the west. The overall picture for these gold results indicates that they originate from a high hill located in the centre of Reedy Creek (see Figure Two above). Further results from follow-up work samples taken across the Reedy Creek streams are awaited. In addition, numerous rock chips have been taken as a part of the first pass exploration within the headwaters of some these gold bearing streams. Results from these are due shortly.

NIOBIUM, TANTALUM AND REE (Neodymium)

The field team has also followed up the best stream drainage results from the previous campaign that recorded Niobium, Tantalum and other potential Rare-Earth Elements (REE) around the Oaky Creek area (see Figure One above). Due to the presence of Nb and Ta, the team are now testing for all known 12 REE’s (not previously tested for). These latest results add to the existing evidence, and continue to show a strong presence of Nb and Ta within the Oaky Creek area. In addition, the team have also proved that the presence of Neodymium (Nd) is spatially associated with Nb and Ta results across the Project area (see Figure Three above). Neodymium of course has numerous applications, and is used for strong magnets in electrical motors.

NEXT STEPS AND FURTHER RESULTS EXPECTED

As previously mentioned, the field team has taken numerous rock chips within the Reedy Creek area (Gold) and from the headwaters of the Oaky Creek area (Nb-Ta). These rock chips represent samples from outcrops seen on our first pass through Reedy Creek and Oaky Creek, and results from these samples are also expected.

Secondly, follow-up soil samples from the recently reported pXRF soil sampling results last month have now been completed ready for initial pXRF analysis during August.

The field team have now moved to the south from Reedy Creek into Gorge Creek (see Figure One above). The Project area covers working cattle properties, and as such a comprehensive work-around plan is in place. Given the progress to date, the Board are confident the field team will return to the Reedy Creek and Oaky Creek area before the field season finishes this summer to undertake further rock chip and soil sampling and to delineate future drill targets.

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: [email protected]
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 90% 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.

APPENDIX ONE

TABLE ONE: Best results from pan concentrate sampling Au ppm, August 2023, Lolworth Project). All results greater than 0.1 ppm tabulated. (VG = Visible Gold Panned)

SampleID	Easting	Northing	Au ppm	VG	Comments on VG
LWSS252	320264	7765878	7.24	No
LWSS253	324254	7767330	4.56	Yes	6 small specks
LWSS405	314446	7760822	9.44	No
LWSS418	320700	7757580	0.20	Yes	1 small speck
LWSS421	322901	7757868	0.70	Yes	1 small speck
LWSS423	324258	7762097	0.16	No
LWSS424	325846	7762480	3.71	Yes	Coarse speck of gold
LWSS427	326210	7761584	0.24	Yes	1 small speck
LWSS431	325753	7764904	6.85	Yes	3 specks
LWSS432	325432	7764888	0.44	Yes	1 small speck
LWSS448	314768	7767960	2.78	No
LWSS451	315172	7766899	0.13	No
LWSS460	314210	7762374	0.14	No
LWSS467	315238	7756209	0.40	Yes	1 small speck
LWSS469	325966	7771175	8.35	Yes	2 small specks
LWSS470	327173	7770920	0.22	Yes	1 small speck
LWSS496	303849	7757871	9.61	Yes	2 x coarse gold specks
LWSS498	311283	7755758	1.85	Yes	1 speck
LWSS500	312950	7754815	3.12	Yes	2 specks
LWSS532	299200	7760198	2.38	Yes	1 speck
LWSS538	290076	7760827	0.81	Yes	1 speck
LWSS572	310177	7750287	0.33	No
LWSS585	310289	7750626	594.00	Yes	1 small 0.1 gram ‘nugget’
LWSS586	311171	7751074	0.12	No
LWSS587	311452	7750782	11.65	No
LWSS589	309345	7755372	0.18	No
LWSS638	312768	7755219	1.41	Yes	Duplicate sample
LWSS736	309500	7751531	0.18	No
LWSS738	308182	7751525	0.41	Yes	1 speck
LWSS753	309412	7750724	138.00	Yes	1 small coarse gold speck
LWSS755	310000	7751106	1.72	No
LWSS757	310470	7751305	0.20	No
LWSS759	310273	7750928	45.30	Yes
LWSS761	310292	7750584	0.70	No
LWSS765	310060	7751399	18.45	Yes	1 coarse speck
LWSS767	309485	7751015	5.13	No
LWSS774	310163	7750663	0.71	No
LWSS782	308962	7751475	19.75	Yes	2 small specks
LWSS790	309438	7750736	25.70	Yes	1 speck
LWSS794	309442	7750737	0.11	No
LWSS797	309467	7750599	0.23	No

TABLE TWO: Best results from pan concentrate sampling Nb-Ta ppm, August 2023, Lolworth Project). All results greater than 100 ppm tabulated.

SampleID	Easting	Northing	Nb	Ta	Comment
LWSS229	320908	7759186	450	217
LWSS230	321176	7759318	500	500
LWSS231	322179	7759546	500	500
LWSS247	313645	7756544	284	85.2
LWSS252	320264	7765878	150	31.3
LWSS253	324254	7767330	227	81
LWSS254	323713	7767213	237	59.8
LWSS255	324446	7769354	109	33.8
LWSS306	314035	7754119	118	15.95
LWSS365	320388	7756838	401	152
LWSS366	319160	7754718	500	281
LWSS367	319661	7753979	500	480
LWSS406	315528	7761520	102.5	28
LWSS407	315347	7760973	208	54.7
LWSS408	317210	7761344	215	48.5
LWSS409	317724	7760589	108.5	38.3
LWSS410	316537	7760130	229	43.1
LWSS411	317645	7759026	500	215
LWSS416	320737	7761711	500	149.5
LWSS418	320700	7757580	165.5	53.2
LWSS420	322665	7757702	132.5	51.2
LWSS421	322901	7757868	178	33.8
LWSS422	324174	7762491	102.5	16.85
LWSS423	324258	7762097	151.5	37.6
LWSS424	325846	7762480	134.5	31.3
LWSS425	325677	7762387	204	32.5
LWSS427	326210	7761584	159.5	27.7
LWSS429	322846	7765871	343	91.4
LWSS431	325753	7764904	500	296
LWSS432	325432	7764888	135	25.7
LWSS433	324133	7765013	327	66.7
LWSS434	323642	7764659	157.5	32.5
LWSS435	322377	7766754	500	372
LWSS436	320685	7765372	193	87.4
LWSS437	320214	7765523	221	48.6
LWSS438	319186	7765517	151.5	46
LWSS439	319176	7765952	184	60
LWSS440	319092	7764709	223	45.5
LWSS441	318768	7764506	332	74.6
LWSS451	315172	7766899	323	76
LWSS454	315035	7765742	201	32
LWSS455	314737	7765632	500	209
LWSS456	314555	7765137	141	35.8
LWSS459	313836	7762219	116.5	22.1
LWSS460	314210	7762374	231	42.6
LWSS461	315133	7762705	220	47.9
LWSS463	317464	7756322	242	62.1
LWSS464	316583	7755967	126	18.8
LWSS466	313851	7756198	500	237
LWSS467	315238	7756209	182	87.3
LWSS468	324533	7771145	245	32.3
LWSS469	325966	7771175	500	222
LWSS470	327173	7770920	300	102.5
LWSS471	308931	7766968	121	42.1
LWSS476	306440	7763751	266	52.8
LWSS477	308181	7763842	500	347
LWSS478	309081	7764005	267	56.4
LWSS479	309450	7763805	160.5	35.7
LWSS487	307080	7761843	170.5	29.4
LWSS488	307254	7761061	104	14.9
LWSS491	306083	7759588	129	17.35
LWSS492	305683	7760663	158	24.2
LWSS493	305974	7760896	160	22.1
LWSS494	304500	7758304	123	30.9
LWSS496	303849	7757871	212	66.4
LWSS497	311422	7756106	500	90.1
LWSS498	311283	7755758	169.5	34
LWSS499	313335	7755490	245	91
LWSS500	312950	7754815	338	80
LWSS501	313368	7754220	310	73.8
LWSS502	313769	7753467	113	28.4
LWSS531	298996	7760443	145.5	31.7
LWSS533	292681	7760640	114	29.5
LWSS536	291075	7759472	132.5	46.9
LWSS581	319064	7753571	500	383
LWSS582	319371	7753069	500	338
LWSS589	309345	7755372	176.5	37
LWSS590	308073	7755282	500	500
LWSS591	309377	7756779	500	246
LWSS592	306808	7756949	500	470
LWSS593	307441	7757969	112	43.3
LWSS595	320887	7754478	217	57.9
LWSS635	312320	7755191	251	76.5	Duplicate sample
LWSS638	312768	7755219	500	245	Duplicate sample
LWSS640	314020	7756152	277	89.1	Duplicate sample
LWSS641	313995	7756316	180.5	47.7
LWSS642	313980	7756481	500	227
LWSS643	313639	7756592	134.5	37.9
LWSS644	314409	7756710	500	500
LWSS645	315200	7757744	253	64.1
LWSS646	314908	7757858	362	112
LWSS647	312621	7758803	217	49.8
LWSS649	312949	7759462	173.5	45.9
LWSS697	312984	7755449	339	84.3
LWSS698	313421	7755433	262	100.5
LWSS699	313957	7754899	125	20.5
LWSS700	313277	7754334	373	157
LWSS701	313870	7754078	257	42.1
LWSS730	313311	7754208	223	45.8
LWSS739	314037	7756997	296	94
LWSS740	313948	7757123	500	338
LWSS741	313857	7757165	500	298
LWSS742	313529	7756546	500	403
LWSS743	313453	7756634	500	305
LWSS744	313443	7756749	500	189.5
LWSS745	313906	7756226	500	327
LWSS747	314005	7756317	500	290
LWSS748	314052	7754098	186.5	34.9
LWSS749	313714	7754130	168	23.6

TABLE THREE: Best results from pan concentrate sampling Nd (Neodymium) ppm, August 2023, Lolworth Project). All results greater than 500 ppm tabulated.

SampleID	Easting	Northing	Nd	Comment
LWSS231	322179	7759546	934
LWSS365	320388	7756838	567
LWSS366	319160	7754718	1000
LWSS410	316537	7760130	709
LWSS411	317645	7759026	1000
LWSS431	325753	7764904	1000
LWSS433	324133	7765013	1000
LWSS435	322377	7766754	1000
LWSS437	320214	7765523	536
LWSS438	319186	7765517	578
LWSS439	319176	7765952	619
LWSS441	318768	7764506	773
LWSS451	315172	7766899	1000
LWSS453	315301	7766183	507
LWSS454	315035	7765742	583
LWSS455	314737	7765632	970
LWSS461	315133	7762705	754
LWSS463	317464	7756322	1000
LWSS466	313851	7756198	765
LWSS469	325966	7771175	1000
LWSS470	327173	7770920	541
LWSS471	308931	7766968	1000
LWSS476	306440	7763751	902
LWSS477	308181	7763842	1000
LWSS478	309081	7764005	1000
LWSS479	309450	7763805	626
LWSS487	307080	7761843	595
LWSS491	306083	7759588	558
LWSS492	305683	7760663	830
LWSS493	305974	7760896	660
LWSS499	313335	7755490	791
LWSS500	312950	7754815	1000
LWSS501	313368	7754220	1000
LWSS533	292681	7760640	1000
LWSS590	308073	7755282	1000
LWSS592	306808	7756949	1000
LWSS635	312320	7755191	804	Duplicate sample
LWSS638	312768	7755219	1000	Duplicate sample
LWSS649	312949	7759462	726
LWSS697	312984	7755449	1000
LWSS698	313421	7755433	696
LWSS700	313277	7754334	638
LWSS730	313311	7754208	789
LWSS738	308182	7751525	756
LWSS745	313906	7756226	502
LWSS747	314005	7756317	934
LWSS749	313714	7754130	557
LWSS763	310342	7750675	1000
LWSS764	310354	7750644	682
LWSS782	308962	7751475	770
LWSS790	309438	7750736	577
LWSS794	309442	7750737	904
LWSS796	309492	7750610	564
LWSS805	309428	7750698	655

 

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