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ECR Minerals lands option for Iceberg gold project

“The signing of this option agreement is another step forward in ECR’s campaign to become a leading Australian focused gold and strategic metals exploration and development company.”
gold
It can exercise the option for £225,000

ECR Minerals PLC (LON:ECR) told investors that it has secured an option over the Iceberg gold project in Western Australia.

Iceberg comprises 3 tenement areas covering 137 square kilometres of ground immediately along strike and adjacent to the Tropicana gold mine which host some 8mln ounces of gold.

It secures the project for a £25,000 option fee, giving it 60 days to exercise via a further payment of £225,000 to acquire 100% of the asset.

READ: ECR Minerals surges as it secures finance to expedite Blue Moon

“The signing of this option agreement is another step forward in ECR’s campaign to become a leading Australian focused gold and strategic metals exploration and development company,” said Craig Brown, ECR chief executive.

“Competition for project opportunities in the Proterozoic belts is increasing, particularly following recent large discoveries in the Paterson province of Western Australia. There remains the potential for further multi-million ounce discoveries within this type of geology.”

Brown added: “Given this backdrop, the ECR Minerals team are excited to be offered an opportunity to secure an option over this project package. Subject to the successful completion of our due diligence work, we look forward to moving forward with the project.”

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