ECR Minerals PLC (LON:ECR) has applied for three new licences in the north of Queensland, Australia.
Craig Brown, chief executive, said that the exploration permits cover a total 900sq km of highly prospective ground located within the Lolworth Range, 200km WSW of Townsville and 30km north from Pentlands.
“The strong cash position enjoyed by ECR Minerals has not only enabled us to launch aggressive drilling programmes across our existing properties, but has also facilitated full utilisation of in-house and advisory resources to identify, investigate and potentially acquire new opportunities to expand our Australian exploration portfolio.
“We are currently operating two diamond drill rigs at the Bailieston and Creswick projects in Victoria, Australia, both of which are delivering considerable amounts of drill core for technical review, processing and assay testing.
“We believe the ongoing drilling operations and the upcoming implementation of drilling across multiple high-profile gold targets will expose ECR to potential new gold discoveries.”