Business
Portfolio Update
Portfolio Update.
About this update from Ecr Minerals Plc
[{"type":"text","content":"\n \nPortfolio Update\n\nECR Minerals plc\n\n \n \n \n ECR MINERALS plc\n \n \n (“ECR Minerals”, “ECR” or the “Company”)\n \n \n ECR Minerals formalises 25% shareholding in Cordillera Tiger Gold Resources, owner of Exploration License EP-006 at the Danglay Gold Project, N Philippines\n \n \nECR Minerals plc (LON: ECR), the gold exploration and development company focused on Australia, is pleased to announce that its 25% shareholding in Philippines based company Cordillera Tiger Gold Resources, Inc. (“Cordillera Tiger”, “Cordillera”) has been formalised and the Company is now in receipt of the share certificate.\n\n \nIn July 2021, Cordillera Tiger successfully renewed Exploration License EP-006 at the Danglay gold project, which is located in a prolific gold and copper mining district in the north of the Philippines.\n\n \nMost recently, through Cordillera Tiger, ECR has been engaged in a Community Development Programme in the Danglay area. Cordillera has provided foodpack assistance, helping to get rice, canned meat & fish delivered to families affected by COVID19 in the Danglay region.\n\n \nAs reported in the Annual Report on March 23rd 2021, ECR is entitled to a 25% interest in the Danglay gold project in the Philippines, which is held by Philippines corporation Cordillera Tiger Gold Resources, Inc. under an Exploration Permit. The issuance of a 25% shareholding in Cordillera Tiger to the Company has been delayed since 2016, largely due to a court case filed by an individual who is a minority shareholder and former director of Cordillera Tiger. This matter was successfully resolved, and ECR’s shareholding has now been formalised.\n\n \nThe ECR Board believes the political climate for the minerals industry in the Philippines is improving and considers that the Danglay gold project has potential for further exploration to build upon the existing inferred mineral resource estimate of 63,500 ounces of gold at 1.55 g/t gold. This resource was reported by ECR in 2015 to the Canadian NI43-101 standard, based on exploration carried out at Danglay by ECR during 2014 and 2015. In addition to the resource, an NI43-101 target for further exploration (conceptual potential quantity and grade of mineralisation expressed as ranges) of 95,000 to 170,000 ounces of gold at 5 to 7.5 g/t was reported.\n\n \n ECR Chairman David Tang com...