An exploration pipeline with scale and optionality Blue Mountain stands to establish ECR as a revenue-generating business in the near term. But it’s the company’s exploration portfolio that provides the potential for transformational upside over the longer-term. ECR holds multiple gold and antimony assets across Queensland and Victoria, with drill-ready targets and strong early results. In some cases, third-party interest is already emerging. Lolworth Spanning more than 900km² in Northern Queensland, Lolworth is ECR’s largest project by land area. It’s also perhaps the company’s most exciting exploration opportunity. Over the past two years, the company has carried out extensive fieldwork, stream sampling, trenching, and rock chipping. Results have consistently pointed to widespread gold mineralisation, with grades of up to 14.7g/t Au identified from sampling at surface across multiple gold-bearing quartz vein systems. In key prospects like Gorge Creek West and Uncle Terry, trenching has revealed broader zones of gold, including intercepts over 11g/t and 4g/t Au. Sampling from the Fat Hen Creek prospect returned up to 1,245ppm Au, or 1.2kg equivalent. Importantly, the mineralisation at Lolworth appears structurally similar to the well-known Charters Towers and Ravenswood gold districts nearby. Lolworth is showing promise for rare earths, too. Sampling has returned elevated niobium, tantalum, and neodymium grades from the Oak Creek area. This has already drawn the attention of the Geological Survey of Queensland, which has initiated a partnership with ECR, allowing the company to benefit from its technical expertise while reducing exploration costs. Now, ECR is ready to take exploration to the next phase. Once the latest round of work is completed at Blue Mountain, the company plans to move its rig onto Lolworth in July for a percussion drilling programme totalling at least 1,500m. The primary focus will be on verifying that nearsurface gold mineralization extends to greater depths, initially targeting 70 meters. If the results validate the surface mineralisation seen to date, ECR could be presented with new options to monetise Lolworth through partnerships, JVs, or even a strategic sale. Example of gold-bearing rock chip from ECR’s Lolworth project 5
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