REG - ECR Minerals PLC - Lolworth Exploration Update & Drilling Plans

ECR MineralsAnnouncement

11/02/2025 07:15

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RNS Number : 5946W  ECR Minerals PLC  11 February 2025

 

11 February 2025

 

ECR MINERALS PLC

 

("ECR Minerals", "ECR" or the "Company")

 

Lolworth Project Exploration Update and Drilling Plans

 

ECR Minerals plc (AIM: ECR), the gold exploration company focused on
Australia, provides an update on the latest exploration results from the
Lolworth Gold and Critical Minerals Project, located in North Queensland,
Australia (the "Lolworth Project") as well as ECR's 2025 field season plans
for the Lolworth Project.

 

Highlights

·    Total of 165 pan concentrate samples collected from alluvial sources

·    9 samples returned gold values greater than 9 ppm Au

·    5 samples returned Niobium-Tantalum concentrations greater than 1,000
ppm of Nb (0.1%)

·    Discussions advancing with contractors for a proposed maiden Lolworth
drilling programme

 

Programme Overview (see Map 1)

A total of 165 pan concentrate samples were gathered from alluvial sources in
the Eastern Area of EPM27903, covering creeks located north of the Uncle Terry
Prospect, east of the Gorge Creek Prospects and southeast of the Dagwood
Prospect. These pan concentrate samples mark an initial phase of exploration,
extending eastward beyond the previously examined regions of Gorge Creek and
Dagwood.

 

Summary of Gold Results (See Table 1)

 

·    Nine samples yielded gold values exceeding 9 ppm Au.

 

·    Three high-grade samples reported concentrations of 1,245 ppm, 175.5
ppm and 127 ppm Au.

 

The most significant results came from creeks in the headwaters of Fat Hen
Creek, situated one mile east of the Dagwood Prospect. These findings indicate
the potential presence of undiscovered gold sources in the surrounding hills.

 

Additional high-grade results were identified in streams draining from the
ridgeline east of the Gorge Creek Prospects, reinforcing evidence of further
gold-bearing sources in the area.

 

A high gold anomaly detected in creeks north of the Uncle Terry Prospect area
suggests that mineralisation extends beyond the currently mapped prospect
boundaries.

 

Summary of Niobium-Tantalum Results (See Table 2)

 

·    Five samples yielded Niobium-Tantalum concentrations exceeding 1,000
ppm of Nb (0.1%).

 

These samples were taken from streams along the northwestern margin of what is
interpreted to be a Pegmatitic Intrusional Complex. The southern boundary of
this intrusion remains untested and is a priority for future sampling.

 

Lolworth 2025 Field Season Plans

Building on the successful exploration campaign in 2024, ECR is refining its
focus on five key gold prospects including Gorge Creek West, Butterfly Creek,
Uncle Terry, Gorge Creek Diggings and Woolshed Creek.

 

These prospects have been identified for sub-surface evaluation by drilling,
with discussions currently underway with drilling contractors. Further
announcements will be made in due course.

 

Adam Jones, ECR's Chief Geologist, said: "These latest results from the
Lolworth Project reinforce our confidence in the Project's gold and critical
minerals potential. The discovery of high-grade gold samples in new areas,
along with potentially significant niobium-tantalum values, highlights the
untapped potential of this under-explored region. We look forward to further
defining these targets through drilling in 2025."

 

Nick Tulloch, ECR's chairman, said: "Although visiting Lolworth was not on the
itinerary for my recent visit to Australia, it featured prominently in
discussions during the week. The scale of the project area and our ongoing
very promising results from the work we are undertaking there gives us
considerable optimism for our forthcoming drilling plans.  Our partnerships
with Geological Survey of Queensland and James Cook University at Lolworth are
a further reminder of the widening interest of a project that is prospective
for both gold and critical minerals."

 

Map 1: Selected Lolworth Project Sampling Areas

 

 

 

Table 1: Best Gold Results

 SAMPLEID  EASTING  NORTHING  AU (ppm)
 LWSS1330  318676   7748810   1245
 LWSS1391  315624   7752864   175.5
 LWSS1332  318167   7749120   127
 LWSS1286  319047   7752681   66.3
 LWSS1293  318921   7750003   59.3
 LWSS1061  315287   7750587   39.7
 LWSS1346  311707   7752255   24.7
 LWSS1388  315222   7752953   24.1
 LWSS1287  318743   7753167   9.14

 

Table 2: Best Niobium-Tantalum Results

 SAMPLEID  EASTING  NORTHING  NB (ppm)  TA (ppm)
 LWSS599   320857   7752191   1650      640
 LWSS1283  325152   7750992   1260      340
 LWSS1349  312097   7751890   1240      360
 LWSS1334  318139   7749781   1055      430
 LWSS1271  323775   7748669   1020      430

 

 

Review of Announcement by Qualified Person

 

This announcement has been reviewed by Adam Jones, Chief Geologist 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) 1738 317 693
 Nick Tulloch, Chairman

 Andrew Scott, Director

 Email:

 info@ecrminerals.com
 Website: www.ecrminerals.com
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Glossary

 

 Au:                              Gold
 km:                              Kilometres (Metric)
 km²:                             Kilometre squared (Metric)
 Nb:                              Niobium
 Pegmatitic Intrusional Complex:  Group of pegmatite veins that form within an intrusive igneous rock
 ppm:                             Parts per million (Metric)
 Ta:                              Tantalum

 

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).

 

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 Lolworth Range, Queensland, Australia. The
Company has also submitted a license application at Kondaparinga which is
approximately 120km2 in area and located within the Hodgkinson Gold
Province, 80km NW of Mareeba, North Queensland.

 

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), MGA 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.

 

MGA also has approximately A$75 million of unutilised tax losses incurred
during previous operations.

 

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