ECR MINERALS plc
(“ECR Minerals”, “ECR” or the “Company”)
US OTC: MTGDY
UPDATE ON ITOGON GOLD PROJECT
LONDON: 26 JUNE 2014 - ECR Minerals plc is pleased to provide the following update on activities at the Itogon gold project, Philippines.
* ECR to carry out second phase of drilling at Itogon project following positive results of initial phase announced 29 May 2014; highlights included a mineralised interval (apparent width) of 18m at 17.14 g/t gold from surface (inc. 2m at 119.53 g/t gold)
* Planning for second phase of drilling now underway utilising 3D modelling of first phase results
* Other exploration activities ongoing during June and July 2014 include surface and underground channel sampling, the main objective of which is to confirm extensions of the epithermal gold mineralisation in the main prospect area at Itogon along strike and laterally
Stephen Clayson, Chief Executive Officer of ECR, commented:
“As planning of the next phase of drilling for the Itogon project takes place other exploration activities are continuing and will generate valuable additional data. The next phase of drilling, like the activities now taking place, will be designed to continue our evaluation of the project’s economic potential in a cost effective manner.”
Summary of June/July 2014 Exploration Activities - Itogon Gold Project
* Continued detailed geological mapping of main prospect area, at surface and underground
* Channel sampling and trenching focused primarily on confirming extensions of the mineralisation at surface in the main prospect area at Itogon both laterally and to the southeast of the most southeasterly first phase ECR drill holes; more than one hundred samples have been sent to an accredited independent laboratory for analysis, with assay results expected in July 2014
* Underground channel sampling within small scale workings
* Dewatering of an adit at the southeastern end of the main prospect area to allow access for mapping and sampling
* Profile surveying to generate data for ECR’s digital elevation model of the main prospect area
* First pass mapping and sampling of a separate area of quartz veining and small scale underground workings identified to the west of the main prospect area
A map showing the extent of surface channel sampling and trenching by ECR at the Itogon project as of 20 June 2014 may be viewed here:
ECR is a mineral exploration and development company with, among other interests, the right to earn a 50% interest in the Itogon gold project in the Philippines. Itogon is an advanced exploration project located in a gold and copper mining district on the island of Luzon in the north of the Philippines.
ECR has a 100% interest in the Sierra de las Minas gold project in La Rioja Province, Argentina, the exploration strategy for which is to delineate multiple high grade, low tonnage deposits suitable for advancement to production on a relatively low capital, near term basis.
ECR holds a substantial minority stake in THEMAC Resources Group Ltd (TSX-V: MAC), which is focused on the development of the Copper Flat copper-molybdenum-gold-silver porphyry project in New Mexico, USA.
FOR FURTHER INFORMATION PLEASE CONTACT:
ECR Minerals plc Tel: +44 (0)20 7929 1010
Paul Johnson, Non-Executive Chairman
Stephen Clayson, Director & Chief Executive Officer
Daniel Stewart & Company plc Tel: +44 (0)20 7776 6550
David Hart/Harrison Clarke (Nominated Adviser)
Colin Rowbury (Broker)
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.