ECR Minerals PLC (LON:ECR) said its subsidiary Mercator Gold Australia (MGA) has taken delivery of a new drill rig and is preparing to start a programme on the HR3 prospect, in the Bailieston project area.
The company noted that all necessary permissions are in place for drilling at the HR3 prospect. HR3 comprises at least four closely-spaced lines of reef, including the Byron, Dan Genders, Scoulars and Maori Reefs, ECR noted.
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“With the arrival of the ECR owned drill rig in Victoria we are now in a position to accelerate our exploration work and significantly, drilling of key targets,” said Craig Brown, ECR chief executive in a statement.
“I look forward to providing further information from Victoria in the near term as our operational activities continue," he added.
Drilling will start as soon as the new rig is ready for operations.
At the same time, the company noted that soil geochemistry and geological mapping is now complete for the Cherry Tree prospect, another part of the Baillieston project area.