In its results statement for the six months to the end of March, the company said the first half of the calendar year 2019 saw significant drilling activity at the Creswick gold project in Victoria, and at the Black Cat and Blue Moon gold prospects within the Bailieston project area.
The focus of on-the-ground activities was and continues to be the projects in the state of Victoria but the company stressed that the applications lodged in December 2018 for the exploration licences, which will comprise the Windidda gold project in Western Australia, are also important.
Windidda represents a strategic move by ECR into the Yilgarn Craton which, like Victoria, is one of the world’s major gold provinces, the company’s chief executive officer, Craig Brown, said.
While waiting for the licences to be granted, consultants have already begun geophysical data processing and modelling to determine structural trends within, and the depth to, the interpreted buried Archean greenstones.
As for the profit & loss statement, the half-year loss held steady at £282,562 versus a loss the year before of £247,945, despite administrative expenses rising to £432,387 from £240,719; the losses were offset by a tax refund of £175,188.