ECR Minerals PLC (LON:ECR) shares rose on Wednesday following news it has classified its Blue Moon prospect in Victoria, Australia as a gold discovery after the final assays from latest drilling indicated more good grades.
Craig Brown, chief executive, said the drilling results show that gold mineralisation intensifies further west and have given ECR a clear action plan to follow the system.
"We are excited by the findings and will continue our work at Blue Moon and other prospects in the Bailieston project area, with our strategic objective remaining a multi-million ounce gold discovery.”
The junior had already reported some bumper numbers from Blue Moon.
Best of the grades in the programme was a 17.87 grammes per tonne (g/t) per sample albeit over a narrow width, with a number of others over 1 g/t.
Blue Moon lies within the Bailieston gold project (EL5433), which is 100%-owned by ECR’s wholly owned Australian subsidiary Mercator Gold Australia.
In afternoon trading, shares in ECR Minerals were 3.7% higher at 0.70p.
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