REG - ECR Minerals PLC - Operational Update

ECR MineralsAnnouncement

14/04/2025 09:00

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RNS Number : 8768E  ECR Minerals PLC  14 April 2025

14 April 2025

 

ECR MINERALS plc

 

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

 

Antimony drilling set to commence at the Bailieston Project

and

update on recent field work

 

ECR Minerals plc (LON: ECR), the exploration and development company focused
on gold in Australia, provides the following update on its ongoing geological
investigations targeting principally antimony at the HR3 prospect within the
Bailieston Project area in Central Victoria, Australia (the "Bailieston
Project").

 

HIGHLIGHTS

 

●   Proposed antimony focused diamond drilling programme to commence this
month at the Bailieston Project

●     Historical soil sampling has identified four in-situ antimony
anomalies at the Bailieston Project

●    72 follow-up rock chip samples were recently collected from around
these anomalies; 34 samples returned antimony grades between 0.25% and 1.91%

●     42 rock chips also returned gold grades above 1 g/t Au, with channel
sampling highlights including 0.3m @ 41.3 g/t Au

 

Bailieston gold and antimony project

 

Strong antimony and gold prices have sparked renewed exploration in Victoria's
Costerfield Bailieston-Nagambie corridor. On 3 July 2024, ECR's Bailieston
Project sampling uncovered high-grade antimony, with hole BH3DD019 hitting 32%
Sb over 0.3m and BH3DD027 yielding 1.2% Sb over 0.1m. ECR is now finalising
plans for a follow-up diamond drilling programme to investigate these targets
further.

 

Recent field work (See Table 1)

 

ECR's geology team has recently reviewed historical portable x-ray
fluorescence ("PXRF") data from soil sampling campaigns conducted at the
Bailieston Project between 2020 and 2022. Statistical analysis defined eight
sub-populations of increasing antimony values. These were then spatially
correlated with known mineralised vein systems, revealing four key antimony
anomalies along the Hardup, Hardup South, Scanlons and Scoulars veins.

 

To verify the soil sampling results 72 rock chip samples were collected from
oxidised, veined and sheared material within historical trenches and pits.
Seven of these were in-situ channel samples taken across exposed mineralised
structures.

 

Summary of key rock chip sample results include:

●     0.3m @ 41.3 g/t Au, 0.89% Sb

●     0.5m @ 36.1 g/t Au, 0.48% Sb

●     0.31m @ 10.6 g/t Au, 1.13% Sb

●     0.8m @ 6.51 g/t Au, 0.19% Sb

 

These samples were all taken from the Hardup Reef, part of a north-northeast
trending vein system that has seen limited modern exploration. Given the
current commodity price environment, these high-grade zones represent
compelling drill targets.

 

Drill targets (See Figure 1)

 

ECR has completed internal and external structural interpretations of prior
diamond drilling campaigns (2021-2022), focusing on the standout antimony
intercept in hole BH3DD019. The results suggest that the main Maori-Bailieston
anticline has undergone eastward rollover at a key inflection point, creating
a zone of structural dilation-or 'bulge' -that may host significant antimony
and gold mineralisation.

 

Four diamond drillholes are now budgeted to test this target zone, with
planned depths ranging between 100m to 180m. Previous drilling in this area
yielded composite intercepts including:

 

●     1m @ 4.96 g/t Au (hole BH3DD019)

●     1m @ 16.16 g/t Au (hole BH3DD034)

 

The diamond core drill rig is expected to mobilise to site within the next two
weeks.

 

Mike Whitlow, ECR's Managing Director, said: "We're seeing a compelling
convergence of data pointing to a potential structurally controlled zone of
antimony and gold mineralisation at the Bailieston Project. With rock chip and
soil anomalies aligning with high-grade historical intercepts, our upcoming
drill programme is designed to test this 'bulge' zone directly. This is the
kind of focused, high-impact exploration that we believe can potentially
unlock real value for shareholders-especially in a market where both gold and
antimony prices are on the rise.''

Figure 1: Plan of HR3, Bailieston Project

 

Table 1: Best results (Au/Sb) from rock chips taken at HR3, Bailieston Project
in April 2025.

*Locations in GDA94 Zone 55

Antimony results (=> 0.25 % Sb)

 SAMPLE   EAST      NORTH      Sb %  VEIN/REEF
 BH3R113  326475.4  5931404.0  1.91  SCOULARS
 BH3R100  326517.6  5931334.7  1.14  SCOULARS
 BH3R089  326671.7  5931239.5  1.13  HARD UP SOUTH
 BH3R102  326517.8  5931343.6  1.11  SCOULARS
 BH3R064  326703.8  5931382.7  0.89  HARD UP
 BH3R106  326520.8  5931327.0  0.87  SCOULARS
 BH3R101  326522.1  5931342.0  0.84  SCOULARS
 BH3R111  326480.4  5931404.6  0.83  SCOULARS
 BH3R080  326765.2  5931082.3  0.82  SCANLONS
 BH3R098  326522.2  5931334.2  0.75  SCOULARS
 BH3R099  326521.3  5931332.7  0.75  SCOULARS
 BH3R105  326507.4  5931326.1  0.71  SCOULARS
 BH3R108  326512.8  5931312.5  0.68  SCOULARS
 BH3R110  326474.5  5931412.3  0.66  SCOULARS
 BH3R091  326667.3  5931225.4  0.61  HARD UP SOUTH
 BH3R090  326671.1  5931229.1  0.55  HARD UP SOUTH
 BH3R065  326703.8  5931384.9  0.48  HARD UP
 BH3R077  326675.5  5930912.2  0.46  UNKNOWN STH
 BH3R079  326752.8  5931063.1  0.45  SCANLONS
 BH3R114  326471.4  5931403.6  0.41  SCOULARS
 BH3R069  326702.0  5931377.3  0.39  HARD UP
 BH3R088  326767.2  5931092.0  0.39  SCANLONS
 BH3R107  326515.8  5931313.3  0.39  SCOULARS
 BH3R109  326470.2  5931413.6  0.39  SCOULARS
 BH3R066  326703.1  5931383.7  0.38  HARD UP
 BH3R083  326765.3  5931087.1  0.37  SCANLONS
 BH3R097  326527.2  5931331.5  0.35  SCOULARS
 BH3R115  326470.0  5931404.5  0.35  SCOULARS
 BH3R103  326514.5  5931331.1  0.34  SCOULARS
 BH3R112  326469.3  5931424.2  0.34  SCOULARS
 BH3R068  326702.4  5931376.9  0.32  HARD UP
 BH3R084  326771.3  5931087.2  0.31  SCANLONS
 BH3R059  326704.8  5931390.4  0.25  HARD UP
 BH3R063  326704.1  5931382.6  0.25  HARD UP

 

Gold results (>  1 g/t Au)

 SAMPLE   EAST      NORTH      AU g/t  VEIN/REEF
 BH3R106  326520.8  5931327.0  43.70   SCOULARS
 BH3R064  326703.8  5931382.7  41.30   HARD UP
 BH3R121  326625.7  5931591.5  40.20   UNKNOWN NTH
 BH3R065  326703.8  5931384.9  36.10   HARD UP
 BH3R113  326475.4  5931404.0  25.40   SCOULARS
 BH3R070  326699.1  5931371.6  20.70   HARD UP
 BH3R099  326521.3  5931332.7  15.80   SCOULARS
 BH3R103  326514.5  5931331.1  14.80   SCOULARS
 BH3R105  326507.4  5931326.1  14.80   SCOULARS
 BH3R097  326527.2  5931331.5  12.60   SCOULARS
 BH3R068  326702.4  5931376.9  10.70   HARD UP
 BH3R089  326671.7  5931239.5  10.60   HARD UP SOUTH
 BH3R100  326517.6  5931334.7  10.30   SCOULARS
 BH3R091  326667.3  5931225.4  9.81    HARD UP SOUTH
 BH3R090  326671.1  5931229.1  9.39    HARD UP SOUTH
 BH3R102  326517.8  5931343.6  9.03    SCOULARS
 BH3R079  326752.8  5931063.1  8.35    SCANLONS
 BH3R098  326522.2  5931334.2  6.74    SCOULARS
 BH3R092  326664.5  5931219.8  6.61    HARD UP SOUTH
 BH3R107  326515.8  5931313.3  6.59    SCOULARS
 BH3R060  326702.8  5931387.6  6.51    HARD UP
 BH3R111  326480.4  5931404.6  5.79    SCOULARS
 BH3R101  326522.1  5931342.0  5.71    SCOULARS
 BH3R077  326675.5  5930912.2  5.05    UNKNOWN STH
 BH3R080  326765.2  5931082.3  4.78    SCANLONS
 BH3R110  326474.5  5931412.3  4.63    SCOULARS
 BH3R104  326509.2  5931323.4  4.24    SCOULARS
 BH3R108  326512.8  5931312.5  4.08    SCOULARS
 BH3R084  326771.3  5931087.2  4.00    SCANLONS
 BH3R067  326703.8  5931380.2  3.82    HARD UP
 BH3R088  326767.2  5931092.0  3.56    SCANLONS
 BH3R083  326765.3  5931087.1  3.32    SCANLONS
 BH3R114  326471.4  5931403.6  3.08    SCOULARS
 BH3R109  326470.2  5931413.6  2.82    SCOULARS
 BH3R115  326470.0  5931404.5  2.71    SCOULARS
 BH3R076  326672.8  5930907.7  1.99    UNKNOWN STH
 BH3R120  326637.6  5931560.4  1.97    UNKNOWN NTH
 BH3R082  326766.2  5931086.4  1.94    SCANLONS
 BH3R061  326703.3  5931386.8  1.61    HARD UP
 BH3R095  326702.7  5931242.8  1.59    HARD UP SOUTH
 BH3R069  326702.0  5931377.3  1.53    HARD UP
 BH3R112  326469.3  5931424.2  1.26    SCOULARS
 BH3R066  326703.1  5931383.7  1.18    HARD UP
 BH3R078  326754.2  5931064.3  1.07    SCANLONS
 BH3R096  326704.2  5931245.8  1.06    HARD UP SOUTH

 

Review of announcement by a 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
 (http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.ecrminerals.com%2F&esheet=51817334&newsitemid=20180605005810&lan=en-US&anchor=www.ecrminerals.com&index=1&md5=820ad49dc1fc2c84a0538453c017bc1b)

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 Nominated Adviser                                                                                                                                                                                                                                                    info@allenbycapital.com (mailto:info@allenbycapital.com)

 Nick Naylor / Alex Brearley / Vivek Bhardwaj

 Axis Capital Markets Limited                                                                                                                                                                                                                                         Tel: +44 (0) 203 026 0320
 Broker
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 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).

 

ECR also owns 100% of an Australian subsidiary LUX Exploration Pty Ltd ("LUX")
which has three approved exploration permits covering 946 km(2) over a
relatively unexplored area in Lolworth Range, Queensland, Australia. The
Company has also submitted a license application at Kondaparinga which is
approximately 120km(2) 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.

 

ECR is also in exclusive negotiations to acquire Maximus Minerals Ltd for
£500,000 along with exercising that company's option over the Cat Key
advanced gold project for C$600,000.  The consideration, if the transaction
completes, will be settled in new ECR shares, issued at no less than 0.33
pence per share.

 

Glossary

 

 Au:    Gold
 g/t:   Grammes per Tonne (Metric)
 km:    Kilometres (Metric)
 km²:   Kilometre squared (Metric)
 M:     Metres (Metric)
 PXRF   portable x-ray fluorescence
 Sb:    Antimony
 Sq:    Square (Metric)

 

 

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