Tuckanarra Gold Project Update
Summary by AI BETAClose X
3 August 2026
ECR MINERALS PLC
("ECR Minerals", "ECR" or the "Company")
ECR to advance Tuckanarra exploration through major reconnaissance programme
Large-scale campaign expected to accelerate target generation, with first phase at no additional direct cost to ECR
ECR Minerals plc (AIM: ECR), the Australian-focused gold exploration and development company, is pleased to announce the commencement of a major multi-phase reconnaissance mapping and target-generation programme across its 80%-owned Tuckanarra Gold Project in Western Australia (the "Tuckanarra Project").
Located adjacent to Odyssey Gold Ltd's reported 407,000-ounce JORC gold resource, the Board considers that Tuckanarra represents one of the Company's most prospective exploration assets, with potential for both primary gold mineralisation and paleochannel-hosted gold discoveries.
The programme will be undertaken in collaboration with the Australian Prospectors and Leaseholders Association ("APLA"), with members conducting systematic reconnaissance across the project. The programme is expected to generate extensive geological observations and exploration data, with the first phase being undertaken at no additional direct cost to the Company.
Highlights
· One of the largest reconnaissance mapping and target-generation programmes ever undertaken at the Tuckanarra Project.
· Initial two-week field programme commencing later this month, involving approximately eight experienced exploration field personnel, following up on earlier work that has already identified multiple priority target areas, including one location where more than 100 small gold nuggets have been previously recovered in close proximity to a historic mine shaft.
· A significantly expanded second phase is planned for March 2027, with up to 80 experienced field personnel expected to undertake a systematic two-week reconnaissance programme across the Project.
· Programme expected to accelerate target generation and geological understanding across this highly prospective goldfield.
· Complements ECR's ongoing geological mapping and Deep Ground Penetrating Radar ("DGPR") exploration programme at the Tuckanarra Project.
· First phase of initiative to be undertaken at no additional direct cost to ECR.
This initiative represents one of the largest reconnaissance mapping and target-generation programmes ever undertaken across the Tuckanarra Project area. By leveraging the experience and field expertise of members of the Australian Prospectors and Leaseholders Association, ECR expects to rapidly accelerate its geological understanding and identify new exploration targets across this highly prospective yet underexplored goldfield, with the first phase of the programme being undertaken at no additional direct cost to the Company.
Programme overview
The reconnaissance operation will commence with an initial field campaign during August 2026, followed by a significantly expanded second phase programme scheduled for March 2027.
The March 2027 programme is expected to involve up to 80 experienced field personnel undertaking systematic reconnaissance across the Tuckanarra Project over a two-week period.
The programme has been designed to maximise geological coverage across the Tuckanarra Project and is expected to include:
· Systematic geological mapping;
· Identification and recording of historical mine workings and mineralised outcrop;
· GPS recording of significant geological features;
· Reconnaissance sampling where appropriate;
· Detector reconnaissance in prospective areas; and
· Identification and prioritisation of new exploration targets for follow-up by ECR's technical team.
The Company expects for the programme to generate a substantial volume of geological observations across the Tuckanarra Project, providing valuable data to refine geological models, improve understanding of mineralised trends and prioritise future exploration activities.
Building on an established exploration strategy
The reconnaissance programme forms part of ECR's broader exploration strategy for Tuckanarra and complements the Company's previously announced exploration plans, including geological mapping, detector reconnaissance and Deep Ground Penetrating Radar investigations, targeting both primary gold mineralisation and buried paleochannel systems.
The Tuckanarra Project occupies a highly prospective position adjacent to Odyssey Gold Ltd's reported 407,000-ounce JORC gold resource, with interpreted extensions of the same favourable geological sequence extending onto ECR's tenure. Previous work has also identified significant potential for paleochannel-hosted gold within the Tuckanarra Project area, which is supported by historical drilling adjacent to the license boundary and confirmed by a ground penetrating radar survey passing into the Company's license area, plus geophysical interpretation highlighting multiple untested targets across the Tuckanarra Project.
The Company believes the addition of this large-scale reconnaissance programme will significantly enhance its understanding of the Tuckanarra Project while accelerating the identification of priority targets for future geophysical surveys, trenching and drill testing.
Next Steps
The initial reconnaissance programme is expected to commence during August 2026, with a larger field campaign planned for March 2027.
Following completion of each programme, geological observations and field data will be integrated with ECR's existing exploration datasets, including DGPR results, to refine exploration models and prioritise follow-up work.
The Company believes that the programme represents a highly capital-efficient means of accelerating exploration across one of the most prospective assets within its Australian gold portfolio.
Nick Tulloch, Chairman of ECR Minerals, commented: "We consider the Tuckanarra Project to be one of the most exciting exploration assets within our expanded Australian gold portfolio. Located adjacent to a third-party substantial JORC gold resource and covering a highly prospective but comparatively underexplored geological setting, we believe the project has significant discovery potential.
"This initiative represents one of the largest reconnaissance mapping and target-generation programmes ever undertaken across the project. By working alongside members of the Australian Prospectors and Leaseholders Association, we expect to rapidly expand our geological understanding and identify new exploration opportunities across the licence area.
"Importantly, the first stage of this programme will be undertaken at no additional direct cost to ECR, allowing us to preserve the funds we raised last year for higher-value follow-up activities such as geophysics, trenching and drilling. It represents an innovative and highly capital-efficient approach to advancing one of the Company's most prospective exploration assets."
Review of Announcement by Qualified Person
This announcement has been reviewed by Michael Parker, Non-Executive Director of ECR Minerals Plc. Michael Parker has a BSc. in Mining Geology and is a professional geologist and is a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM). He is a qualified person as that term is defined by the AIM Note for Mining, Oil and Gas Companies.
FOR FURTHER INFORMATION, PLEASE CONTACT:
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ECR Minerals Plc |
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Tel: +44 (0) 20 8080 8176 |
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Nick Tulloch, Chairman Andrew Scott, Director |
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Website: www.ecrminerals.com |
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Allenby Capital Limited |
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Tel: +44 (0) 20 3328 5656 |
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Nominated Adviser and Joint Broker Alex Brearley / Nick Naylor / Vivek Bhardwaj (Corporate Finance) Kelly Gardiner (Sales and Corporate Broking)
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OAK Securities Joint Broker Jerry Keen / Robert Bell
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Tel: +44 (0) 20 3973 3678 |
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Axis Capital Markets Limited |
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Tel: +44 (0) 20 3026 0320 |
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Joint Broker |
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Lewis Jones |
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SI Capital Ltd |
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Tel: +44 (0) 1483 413500 |
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Joint Broker |
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Nick Emerson
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Brand Communications |
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Tel: +44 (0) 7976 431608 |
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Public & Investor Relations |
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Alan Green |
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ABOUT ECR MINERALS PLC
ECR Minerals is a mineral exploration and development company operating through four wholly owned Australian subsidiaries ECR Minerals (Australia) Pty Ltd ("ECR Australia"), ECR Minerals (Queensland) Pty Ltd ("ECR Queensland"), ECR Minerals (Raglan) Pty Ltd ("ECR Raglan") and ECR Minerals (Paleogold) Ltd ("Paleogold").
Paleogold has a 50% interest in the Maddens hard rock mining project in Northern Queensland where work is underway for production this year at the Maddens underground mine. There is a further trial alluvial mining programme at the Brothers mine. It also has a 20% interest in the Salt Bush shallow open cut mining project in South Australia where preparations are underway for production which is expected to commence around mid-2027. Paleogold also owns 80% of the Tuckanarra exploration project in Western Australia.
ECR Australia owns the Bailieston and Creswick gold projects in central Victoria, Australia as well as the Tambo gold project in eastern Victoria.
ECR Raglan has a mining lease at the Raglan alluvial gold project in central Queensland, Australia and ECR Queensland has two approved exploration permits over the nearby Blue Mountain alluvial gold project. ECR is currently working to bring both projects into production. ECR Queensland also has three approved exploration permits covering 946 km2 over a relatively unexplored area in Lolworth Range in northern Queensland. Furthermore, it has also submitted a licence application at Kondaparinga which is approximately 120km2 in area and located within the Hodgkinson Gold Province, 80km NW of Mareeba, North Queensland.
Following the sale of the Avoca, Moormbool and Timor gold projects in Victoria, Australia to Fosterville South Exploration Ltd (TSX-V: FSX) and the subsequent spin-out of the Avoca and Timor projects to Leviathan Gold Ltd (TSX-V: LVX), ECR Australia has the right to receive up to A$2 million in payments subject to future resource estimation or production from these projects.
ECR Australia also has approximately A$77 million of unutilised tax losses incurred during previous operations.
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