ECR Minerals PLC (LON:ECR) said the option period for due diligence work on the Iceberg gold project in Western Australia has been extended to allow for a thorough review of historical data supplied by the vendors.
The original agreement provided a 60-day option period during which due diligence could be carried out. This has been extended by 30 days under an agreement with the vendors Pacific Trends Resources Pty Limited.
ECR said the extension comes at no additional cost and would allow it more time to go over the substantial historical project data that has been provided by the vendors.
It has appointed CSA Global, Mining Industry Consultants, to conduct a review of the project and its underlying documentation.
The company expects due diligence work will be completed in the coming weeks.