ECR Minerals PLC (AIM:ECR) said a new drill rig originally ordered in July 2021 has arrived in Melbourne.
The Australia-based explorer has been expanding its footprint recently and already signalled it expects a significant ramp-up in exploration activity this year.
Andrew Haythorpe, chief executive, said: “I am delighted that our long-awaited second drill rig has finally arrived in Melbourne.
“As I stated previously this new Cortech multi-purpose rig will significantly enhance our on-the-ground capabilities, offering both RC and diamond drilling systems.”
ECR has also received several expressions of interest in leasing the rig, Haythorpe said, and he expects fees from this, if agreed, will fund a significant portion of exploration planned work at its Creswick prospect.
The new rig cost US$403,000 with the purchase delayed while Haythorpe took over as chief executive and completed a strategic plan for the junior.