logo-loader
viewECR Minerals PLC

ECR Minerals gets 'aggressive' with plans to advance Creswick gold project

Aussie explorer's technical team is “examining ways to further expedite bag testing and ground exploration”

ECR Minerals
A work programme at Creswick has produced visible fine gold in samples from gold panning

ECR Minerals PLC (LON:ECR) has rented a large aircraft hangar and bought large laboratory equipment as it looks at ways to speed up testing and “aggressively” advance its Creswick gold project in Victoria, Australia.

Earlier this month the miner started using metal detectors to scan sample bags containing rocks collected from recent drilling, helping it assess which bags to send to the lab for full testing.

READ: ECR Minerals reports progress on test programme at Creswick project

After the work programme produced visible fine gold in pan samples from gold panning in the vicinity of recent drill hole locations, ECR’s technical team is “examining ways to further expedite bag testing and ground exploration”, having already rented a large aircraft hangar and nearby house for sample storage and supervised preparation of bulk samples as well as the laboratory equipment for this.

After a visit to the site, chief executive Craig Brown said: “Discussions with our advisors have demonstrated the significant potential of the project and we will continue to move our work programmes forward as aggressively as possible.”

He said that, subject to ongoing results and assuming positive exploration outcomes, ECR would be “seeking to rapidly advance Creswick toward a JORC compliant resource”, which he said he believed will add “significant value for shareholders”.

Modelling by the company suggests the Dimocks Main shale area of Creswick could be large enough to potentially host a multi-million ounce gold deposit.

Shares in ECR were up 9% to 0.98p after the new came out mid-morning. 

Quick facts: ECR Minerals PLC

Price: 0.575 GBX

AIM:ECR
Market: AIM
Market Cap: £2.59 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

ECR Minerals busy on deals and enjoying 'a great deal of interest' in its...

ECR Minerals PLC's (LON:ECR) Craig Brown sat down with Proactive's Andrew Scott for a quick chat while at PDAC 2020 in Toronto. ''We've got quite a lot on and we've got huge potential in our projects and we don't necessarily want to drill the whole lot so we've had a lot of approaches on...

on 4/3/20

2 min read