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ECR Minerals announces significant development at Victoria Goldfields

A drilling programme has found elevated gold grades

ECR Minerals PLC - ECR Minerals announces significant development at Victoria Goldfields

ECR Minerals PLC (LON:ECR) has announced “a highly significant development” following the drilling programmes currently underway in the Victoria Goldfields, in Australia.

Logging of three diamond holes at the Maori and Dan Genders Reef at the HR3 prospect has confirmed a steep south-plunging anticline to exist sub-parallel to the Maori Reef line which hosts quartz-arsenopyrite mineralisation and elevated gold grades.

READ: ECR Minerals says discussions ongoing over Creswick project

The data and presence of gold in the core samples confirm the south plunging anticline runs close to the historically mined portions of the Maori Reef, the explorer said.

ECR Minerals has 100% ownership of Bailieston Project, which is operated under its subsidiary Mercator Gold Australia.

“ECR Minerals has the advantage of owning its own diamond drilling rig and, with a centralised operational hub at Bendigo, we have been able to swiftly and efficiently interpret the core samples and secure valuable data from the programmes,” said chief executive Craig Brown in a release.

“The additional drilling planned for the northern end of the zone will help us further understand the size and shape of the structure in order that we can determine next exploration steps.”

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Price: 1.75 GBX

Market Cap: £17.25 m

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