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ECR Minerals in middle of hot spot 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
drill

Quick facts: ECR Minerals PLC

Price: 2.275 GBX

AIM:ECR
Market: AIM
Market Cap: £14.58 m
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What it owns

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

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

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.

How it's doing

In September, ECR said field mapping and geochemistry was underway at multiple gold prospects in the Bailieston project area, with subsidiary MGA having purchased its own portable Olympus XRF analyser in order to enhance and expedite its geochemical sampling capabilities.

ECR added it had acquired a diamond drilling rig capable of drilling to 1,300 metres that will be deployed immediately on a drill programme managed by the company.

The group also said it has identified high priority gold prospects within both project areas (Bailieston and Creswick) that have the potential for immediate drilling.

What the boss says: Craig Brown 

“There is continuing interest in ECR’s Bailieston and Creswick projects with regards to potential joint venture or earn in opportunities.

"The engagement we are experiencing is not surprising given the interest in Victoria gold opportunities, as evidenced by the many corporate transactions that we have seen in the area.”

"The directors are very optimistic for the future, and the company has a robust underlying cash position of £1.65mln with which we can confidently push ahead with operational programmes”.

Latest video

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

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Watch

ECR Minerals' Craig Brown updates on new licence applications in Victoria

ECR Minerals PLC's (LON:ECR) Craig Brown speaks to Proactive's Andrew Scott soon after announcing they've applied for two new exploration licences in eastern Victoria, Australia. The licences, which are contiguous, will comprise the Tambo gold project. The areas cover portions of the Swifts...

on 25/9/20

2 min read