logo-loader
viewECR Minerals PLC

ECR Minerals submits four new licence applications to augment existing gold exploration interests in Australia

The miner said three of the applications have been submitted in the Bailieston/Moormbool gold project area to augment existing licences

Gold mine
It added that the fourth application has been submitted to augment ground in the Creswick project area and covers a southern portion of the Dimocks Main Shale

ECR Minerals PLC (LON:ECR) said it has submitted four new licence applications to augment its existing gold exploration interests in the Victoria region of Australia and is undertaking further work to identify other strategic exploration opportunities.

The AIM-listed precious metals exploration and development company said the new licence applications have been submitted by ECR’s 100% owned Australian operating vehicle Mercator Gold Australia Pty Limited.

READ: ECR Minerals shares lifted as it reaches “interesting point in its development”

It added that three of the applications have been submitted in the Bailieston/Moormbool gold project area to augment existing licences and secure available ground south and south and south-west of an application submitted by Newmont Exploration Pty Limited in recent weeks.

The group said the fourth application has been submitted to augment ground in the Creswick project area and covers a southern portion of the Dimocks Main Shale which sits between two large gold producing areas where it is estimated, historically, 15mln ounces of gold has been produced.

The firm added that the company’s technical team believe that they have identified the hard rock source for a significant portion of those 15mln ounces of gold, although further work is required to validate this proposition.

Craig Brown, ECR’s chief executive officer commented: “The recent application submitted by Newmont Exploration Pty Limited over a large area bordering our Bailieston and Moormbool gold projects is an important ratification of our strategic Australian gold positioning. The presence of Newmont adds weight to the potential prospectivity of the area.”

He added: “ECR’s exploration work at Bailieston has recently demonstrated gold prospectivity as highlighted by the results of our Bailieston sampling programme announced on 28 September 2018 with gold grades up to 67.4g/t.

“At Creswick and as announced on 25 September 2018 our exploration mapping revealed a large gold system, and reflecting our wider exploration work to date, we have taken the opportunity to secure more strategic ground south of our existing Creswick project area.”

Brown concluded: “ECR continues to examine new opportunities and will move to secure additional ground where appropriate.”

Quick facts: ECR Minerals PLC

Price: 0.7 GBX

AIM:ECR
Market: AIM
Market Cap: £3.38 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of ECR Minerals PLC named herein, including the promotion by the Company of ECR Minerals PLC in any Content on the Site, the Company receives from...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Mining Capital's Alastair Ford charts continued strength in gold price

Mining Capital's Alastair Ford addresses suggestions gold could be heading towards a new high of $2000/oz. ''I think that's quite an ambitious target to be setting at this point ... the next breakout number $1525/oz and thereafter the chartists will look for something like $1560/oz''. ''If...

on 16/8/19

2 min read