ECR Minerals plc (AIM:ECR) Approval Received For Two Further Exploration Tenements in Victoria, Australia

ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce it has received approval for two new exploration tenements in Victoria, Australia.

HIGHLIGHTS

• New tenement EL007296 now completes the total exploration package at Bailieston, Victoria.
• New Creswick tenement EL006713 effectively connects EL006184 and EL006907, creating a continuous land package from ECR’s Springmount property south through to the outskirts of Ballarat.

ECR CEO Andrew Haythorpe commented: “This is a great start to 2023 for our Company. The new Bailieston tenements effectively cover the strike extension of the Bailieston Anticline, providing us with an opportunity to continue with the Blue Moon drill campaign and push further west. The new Creswick tenement means that our land package there now provides almost uninterrupted land access from our Springmount property to the outskirts of Ballarat, which given our field team believe they have identified a new parallel gold system at Davey Road and South Davey (see December 23 2022 announcement here) should now mean we can fully explore these anomalies through to their origin.”

“Our field teams will be on the ground on our new tenements during Q1 2023, and I very much look forward to reporting on progress.”

The location of the new tenements can be found here:

Figure 1: https://www.ecrminerals.com/images/2023/Fig1_New_Tenements_230102.png

EL0007296 and EL006713 have been formally approved by the Victorian Government as of the 28^th December 2022. Initial ground activities such as mapping, soil and rock chip sampling will begin in early 2023.

EL007296 adjoins EL5433 and covers the strike extension of the Bailieston Anticline. Known mineralisation occurring across the Bailieston prospects at HR3, Cherry Tree and Blue Moon are closely related to this anticline, and to date, there is no record of any exploration taking place within these new tenements.

EL006713 is located between ECR’s two other approved tenements EL006184 and EL006907 at Creswick, and effectively creates a continuous land package from ECR’s Brewing Lane property at Springmount south through to the outskirts of Ballarat. The approval of EL006713 means that on-ground exploration activities such as soil sampling and rock chips can now begin, with initial targets focusing on the proposed strike of quartz veins which the Board believe are hosted within the Dimocks Main Shale. In addition, the source of the alluvial gold within the western headwaters of the Madame Berry Deep Lead may reside within this new tenement.

Table 1: ECR Minerals current exploration tenements (granted and applied), Victoria, Australia (as of January 2023)

(…) notes exploration area in square kilometres.

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.

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