ECR Minerals PLC (AIM:ECR) said it has made an encouraging start to exploration at its Davey Road prospect on the Creswick tenement in Victoria.
Seven drill holes returned a best assay of 23.39 grammes per tonne (g/t) over a one-metre (m) width, with 4.7g/t still in the tailings.
ECR added that as expected, the findings were coarse gold, with the variations indicating a ‘dipping vein’ was the most likely source.
Leftovers from the drilling results consistently showed visible gold and have been concentrated and sent to a laboratory for testing, according to the statement.
Mike Whitlow, ECR’s chief operating officer, said: "This is an encouraging start to our examination of Davey Road.
“Based on ECR's work historically in this region, our expectation was that any gold would be both course and confined within narrow veins.
“These preliminary results support this assumption and consequently analysis of the bulk samples is a necessary step before we have a full picture of the geology.
“These results are indicative only and we look forward to gaining a better understanding of the location once full testing is complete."