ECR Minerals reports 'excellent results' from new drilling at Bailieston
The best intersection 0.7m at a grade of 28.06 g/t gold from 52.7m depth
Company
LON:ECR
ECR Minerals PLC is a mineral exploration and development company advancing the Bailieston and Creswick gold projects in central Victoria. The company also has three approved exploration permits covering 946 square kilometres over a relatively unexplored area in Lolworth Range, Queensland.
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The best intersection 0.7m at a grade of 28.06 g/t gold from 52.7m depth
Brown was well-known in the mining sector, with a broad network of contacts in the UK, China, Central Asia and Australia
The company will continue its drilling programs already outline
CEO Craig Brown said the drilling will give the group a more detailed understanding of the prospect, “proving up the historic percussion drilling results that showed broad low-grade mineralisation zones with occasional high-grade intercepts
“ECR Minerals is at a pivotal stage of its evolution. With Trevor’s experience and understanding of our assets in Victoria together with our newly acquired property assets, ECR is ideally positioned for the next phase of growth,” said CEO C
“This is an exciting period of evolution for ECR as a company as we grow our presence across the Victoria Goldfields,” said chief executive Craig Brown
The property, 35 Brewing Lane, Springmount, also contains 16 acres of land within the licence area
The Bailieston project is located in central Victoria, Australia
Chief executive Craig Brown said the company will continue to focus primarily on its Australian assets
"We are delighted with Holes CSD003 and CSD004, which have provided our best gold intersections yet"
The company said it believes the licences should be granted in about six months
A drilling programme has found elevated gold grades
ECR added it has two rigs working daily at Bailieston and Creswick properties
The Creswick project is considered highly prospective for gold mineralisation hosted within the Dimocks Main Shale
ECR has plenty of experience of gold exploration in Australia
The permits cover a total 900sq km of highly prospective ground located within the Lolworth Range
"We are very excited by the potential scale of the opportunity at Creswick and a larger scale drill programme at the project is something we have been eager to undertake," said chief executive Craig Brown
One hole returned two high-grade intercepts, including one of 0.5 metres at 19 grammes a tonne gold
ECR is now fully funded for its drilling programmes and does not envisage requiring additional equity financing for quite some time
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