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ECR Minerals PLC

ECR Minerals steps up exploration in Victoria and WA

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: 0.629 GBX

Market: AIM
Market Cap: £2.84 m
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How is it doing

Victoria

Craig Brown, ECR Minerals PLC (LON:ECR) chief executive, said the drilling results at Blue Moon show that gold mineralisation intensifies further west and have given ECR a clear action plan to follow the system.

"We are excited by the findings and will continue our work at Blue Moon and other prospects in the Bailieston project area, with our strategic objective remaining a multi-million-ounce gold discovery.”

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

ECR has just started work on the Timor prospect with a program of “reconnaissance rock dump sampling” from the old workings, which may be followed by a GPS survey and a drilling program on the best-developed targets.

At Creswick, ECR is looking at ways to speed up testing and “aggressively” advance the project.

A further 113 samples from the site have been sent for lab testing. Results in August showed higher levels of gold than the initial samples.

At Bailieston, talks are ongoing over access to continue drilling at Blue Moon to the west where ECR believes gold mineralisation might intensify.

Blue Moon is ECR’s flagship prospect and was declared a discovery in May following a drilling programme that hit grades of up to 17.87g/t.

 

Western Australia

In April, ECR started to airborne and ground geophysics data for the Windidda.

The aim is to identify targets that are amenable to cost effective air core drilling, which will allow a rapid assessment of the project’s gold potential.

An update in September reported that ECR had received a farm-in approach at Windidda from a listed exploration company, which it turned down.

ECR has submitted applications for 1,600sq km of acreage in the Yilgarn Craton through nine exploration licences.

All nine licences have now been advertised in line with the local requirements, said ECR.

 

 

What the boss says: Craig Brown, chief executive

 “Everybody regards Western Australia as a very promising area to work in.”

The opportunity on the new ground is enhanced because it comes with pre-existing data.

“There was some work completed in the 1980s and 1990s,” says Brown.

“But they were looking for nickel at the time, and they also found molybdenum.

 “At Bailieston we want to go back and have a look at Blue Moon, Black Cat and Byron targets.”

 

 

Watch the video

 

 

Inflexion points

  • Drilling to the west at Blue Moon gets underway
  • Additional samples from Creswick come back from the lab
  • ECR has a strong cornerstone investor in Shenyang Xinliaoan Machinery

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