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ECR Minerals in middle of hot spots for Australian gold exploration

Snapshot

  • ECR Minerals has a clutch of gold exploration prospects in Australia
  • Five are in Victoria where one, Blue Moon at Bailieston, has been declared a discovery after bumper grades were unearthed.
  • Company is also exploring at Windidda in Western Australia
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Quick facts: ECR Minerals PLC

Price: 1.675 GBX

AIM:ECR
Market: AIM
Market Cap: £9.25 m
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How it's doing

Victoria

ECR's prospects in Victoria are Bailieston, Avoca, Timor, Creswick and Moormbool.

ECR also has the Windidda project in Western Australia. Fieldwork has yet to begin at Windidda, but the company has completed geophysical modelling and review of historical activity reports in order to better understand the potential prospectivity of the project.

In Victoria, where the company is now concentrating on two projects, Bailieston and Creswick, a significant amount of boots-on-the-ground activity took place during 2019, and has continued into 2020, allowing for some coronavirus disruption.

In 2019 the company drilled at Bailieston and Creswick, and completed whole-of-bag testing on drill samples from Creswick in an effort to better assess the degree of the nugget effect which pertains to the deposit. 

Early in 2020 an alteration study at Creswick returned very encouraging results.

The company has recently sold some exploration assets for cash.

 

What the boss says: Craig Brown, chief executive

“As well as seeking to add value through our own exploration activities, ECR is considering potential transactions which may create value for the Company and its shareholders. Although there can be no guarantee that any transaction will be progressed, the board are encouraged by the number of opportunities that are available. Further updates will be provided as appropriate."

 

Inflexion points

  • Drilling to the west at Blue Moon gets underway
  • Further exploration at Creswick and Windidda
  • ECR has a strong cornerstone investor in Shenyang Xinliaoan Machinery
  • Received £295,000 R&D rebate in January

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ECR Minerals' Craig Brown updates on talks with potential partners for key...

ECR Minerals PLC's (LON:ECR) Craig Brown tells Proactive London's Andrew Scott they're in active discussions with potential partners on its Bailieston and Creswick projects in Victoria, Australia. ECR's recently sold licences comprising the Avoca, Moormbool and Timor gold exploration projects...

1 week, 4 days ago

2 min read