ECR Minerals PLC (LON:ECR) has informed investors that its subsidiary, Mercator Gold Australia, has renewed exploration licence EL5433 in Central Victoria for five years.
The licence is host to the Bailieston gold exploration project and had been due to expire on March 27.
READ: ECR Minerals lines up drilling programme across multiple target areas
“The renewal of EL5433 for a further five years is timely, as we are in the process of planning a drilling programme which will test multiple target areas at Bailieston,” said Craig Brown, ECR chief executive.
“ECR is fully funded for the drilling, and we look forward to seeing the drill rig turning within the next few months.”
Bailieston is in the same neighbourhood as Kirkland Lake Gold’s million-ounce Fosterville gold mine.