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Renewal of Exploration Permit for Itogon Gold-S...
Renewal of Exploration Permit for Itogon Gold-S....
About this update from Ecr Minerals Plc
[{"type":"text","content":"\n\n \n \n \n Renewal of Exploration Permit for Itogon Gold-Silver Project\n \n \n \n \n\n \n ECR Minerals plc\n \n \n\n \n \n \n ECR MINERALS plc (“ECR Minerals”, “ECR” or the “Company”)\n \n AIM: ECRUS OTC: MTGDY\n \n RENEWAL OF EXPLORATION PERMIT FOR ITOGON GOLD-SILVER PROJECT\n \n \n LONDON: 22 NOVEMBER 2013\n \n \n ECR Minerals plc is pleased to announce that the exploration permit (the \n “EP”) pertaining to the Itogon gold-silver project in the Philippines \n held by Cordillera Tiger Gold Resources Inc. (“Cordillera Tiger”) has \n been renewed for a period of two years from 1 October 2013. ECR has the \n right to earn a 50% interest in the Itogon project.\n \n \n Although the EP renewal has been issued dated 1 October 2013, due to \n Philippine government procedures the renewal was not received by \n Cordillera Tiger until 21 November 2013.\n \n \n The EP renewal has been issued subject to the submission by Cordillera \n Tiger of certain documents to the Philippine Mines & Geosciences Bureau \n within 15 days of the date the renewal was received. These documents \n relate primarily to the compliance of Cordillera Tiger with its \n obligations under the first two year term of the EP from 15 February \n 2011, and to Cordillera Tiger’s financial capability. Submission of all \n required documents by Cordillera Tiger will satisfy the only remaining \n condition for the commencement of ECR’s earn-in to the Itogon project. A \n further announcement will be made when this has occurred.\n \n \n Stephen Clayson, Chief Executive Officer of ECR, commented:\n \n \n “After what has seemed like a long wait I am pleased to report that ECR \n will shortly be able to commence its earn-in to this very promising gold \n project in the Philippines.\n \n \n The renewed EP is valid for two years from 1 October 2013 and is \n renewable again for up to two further two year terms following the \n expiry of the present term in 2015.\n \n \n The renewal of the EP allows work to commence on the ground at Itogon, \n and we will in due course release details of the activities planned.”\n \n \n ABOUT ECR\n \n \n ECR is a mineral development company with, among other interests, the \n right to earn a 50% interest in the Itogon gold-silver project in the \n Philippines. The Itogon project is an advanced exploration project \n located in a gold and co...