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ECR Minerals PLC

ECR Minerals starts rock chip sampling programme at Timor gold project

Bosses also highlighted the recent discovery of 2.2kg gold nugget found nearby that has an estimated value of US$200,000

victoria, australia
ECR is sampling rock dumps from old gold workings on the licence area

Precious metals explorer ECR Minerals PLC (LON:ECR) has started rock chip sampling at the Timor gold project in Victoria, Australia.

The field team is collecting samples from the rock dumps of old gold workings on the licence area, which will help to establish the style of mineralisation present.

So far, 91 samples have been collected from Timor and submitted to the laboratory for assay testing.

READ: ECR steps up exploration in Victoria and WA

A recent documentary about gold prospecting was filmed in the Victorian Goldfields, close to some of ECR’s licence areas.

In the documentary, a 2.2kg gold nugget worth an estimated US$200,000 was discovered in an old alluvial channel, about 5km from the boundary of the Timor licence.

“I am pleased to confirm that the rock dump sampling from old workings is now underway at the Timor Gold Project and look forward to the findings from this work,” said chief xecutive Craig Brown.

“We are aware of many prospectors searching for gold in and around the company’s licence areas, and that includes the Timor gold project. This is interesting and demonstrates the potential of our ground.

“However, it is worth noting that should ECR make a discovery within its licence areas, it would be seeking to implement a significant commercial gold production operation which has a different scale to that seen in local prospecting and for which extensive preparatory planning and execution would be needed.”

ECR shares were down 2.5% to 0.95p on Monday morning.

Quick facts: ECR Minerals PLC

Price: £0.01

Market: AIM
Market Cap: £4.06 m
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