ECR Minerals PLC (AIM:ECR) said stream sampling at Lolworth Range North Queensland produced results above its expectations.
Assays from the final 75 stream sediment samples pointed to six stream drainages anomalous in gold, with grades up to 1,395 parts per million (ppm) and in line with visible in-pan samples.
Andrew Haythorpe, chief executive, added: “I am pleased to report that once again our Lolworth assets continue to exceed expectations.
"As the regional streams and gullies continue to give up their secrets and yield some high gold values, there is a real sense of excitement and anticipation at the potential scale and diversity at the project.”
Next steps will be follow-up mapping, rock chip sampling and soil sampling over the headwaters and ridgelines of the most promising streams, ECR said, after which a list of drill targets will be drawn up.
Subject to these results, a drilling campaign will commence in late 2023/early 2024, added Haythorpe.