ECR Minerals plc
("ECR Minerals", "ECR" or the "Company")
US OTC: MTGDY
LONDON: 29 MARCH 2016 - The directors of ECR Minerals plc (the “Directors”) are pleased to provide the following update regarding availability of the JORC Code-compliant technical report (the “Report”) being prepared by Snowden Mining Industry Consultants (“Snowden”) in relation to the Avoca and Bailieston gold projects in Victoria, Australia.
The Directors have received a draft of the Report, and are working with Snowden to finalise the document. It is anticipated that the Report will be completed by Snowden and published by the Company during April 2016.
Upcoming Investor Communications Events
ECR will be exhibiting at the UK Investor Show to be held on Saturday 30 April 2016 in London. For more information, please visit: www.ukinvestorshow.com
Stephen Clayson, CEO of ECR, will be presenting the Company at the Global Mining Finance Spring Conference 2016 to be held on Wednesday 27 April 2016 in London. For more information, please visit www.global-mining-finance.com/gmf-spring
ECR is a mineral exploration and development company with the right to earn a 50% interest in the Danglay epithermal gold project in the Philippines. Danglay is 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 subsidiary Ochre Mining has a 100% interest in the SLM gold project in La Rioja Province, Argentina. Exploration at SLM has focused on identifying small tonnage mesothermal gold deposits which may be suitable for relatively near term production.
ECR’s wholly owned Australian subsidiary Mercator Gold Australia (MGA) has agreed to acquire 100% ownership of the Avoca and Bailieston gold projects in Victoria, Australia. Mercator Gold Australia is estimated to have tax losses of approximately AUD 66M as at 30 June 2015, which may be available, subject to certain conditions (as described in ECR’s announcement dated 4 December 2014), to reduce MGA’s future taxable profits. This is considered particularly significant in view of an opportunity which may exist at Avoca to establish relatively near term gold production from the reprocessing of historical mine dumps, with the potential for sale of gravel and sand by-products.
FOR FURTHER INFORMATION PLEASE CONTACT:
|ECR Minerals plc|
|William (Bill) Howell, Non-Executive Chairman||Tel:||+44 (0)20 7929 1010|
|Stephen Clayson, Director & CEO|
|Richard (Dick) Watts, Technical Director|
|Cairn Financial Advisers LLP|
|Nominated Adviser||Tel:||+44 (0)20 7148 7900|
|Emma Earl/Jo Turner|
|Vicarage Capital Ltd|
|Broker||Tel:||+44 (0)20 3651 2910|
|Rupert Williams/Jeremy Woodgate|
|Public Relations||Tel:||+44 (0)20 7138 3204|
|Tim Blythe/Camilla Horsfall|
FORWARD LOOKING STATEMENTS
This announcement may include forward looking statements. Such statements may be subject to a number of known and unknown risks, uncertainties and other factors that could cause actual results or events to differ materially from current expectations. There can be no assurance that such statements will prove to be accurate and therefore actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking statements. Any forward looking statements contained herein speak only as of the date hereof (unless stated otherwise) and, except as may be required by applicable laws or regulations (including the AIM Rules for Companies), the Company disclaims any obligation to update or modify such forward looking statements as a result of new information, future events or for any other reason.