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ECR Minerals focuses efforts on Australia drilling

ECR, after a recent fundraising, said it was also looking to start drilling at its Argentinian projects in the "near future".
ECR Minerals focuses efforts on Australia drilling
In Australia, the immediate focus is on the Byron area at the Bailieston project

ECR Minerals PLC (LON:ECR) has unveiled its latest six month report, at a time when it has restarted drilling.

"In the past few weeks, the company has completed an initial drilling programme in the Byron area, the first of a number of targets planned for testing at its 100%-owned gold projects in Victoria, Australia," it said.

ECR, after a recent fundraising, said it was also looking to start drilling at its Argentinian projects in the "near future".

In Australia, the immediate focus is on the Byron area at the Bailieston project, where a 592 m (metre) reverse circulation (RC) drilling programme was recently completed.

The programme consisted of seven holes intended to target extensions to the high-grade mineralisation, which was mined historically and hit by drilling in the 1980s.

ECR noted that numerous high grade results have been reported from the Fosterville mine, which lies around 30km from the Bailieston project and owned by Kirkland Lake Gold.

The Costerfield gold mine, which is owned by Mandalay Resources also lies 30km from Bailieston.

The results of the Byron drilling are expected to be available within the next 1-2 months.

The loss for the six months was £433,804, against a loss of £433,119 in the same period in 2016.

Net assets were £2.38mln as end March 2017 compared with £1.9mln at the end of March last year.

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