ECR Minerals provides update on Victorian assets

UK-based holding company ECR Minerals announced that it was on track to deliver high-quality low-cost exploration extensions to mineral assets across its sites in central Victoria, Australia.

At its Avoca site, work programmes had been prepared and submitted for government approval for exploration targets at Pyrenees Reef, Excelsior, Monte Christo and Bung Bong.

If government approval is granted the firm would then be required to gain additional approval from Parks Victoria and undertake a cultural heritage assessment before work could commence on the alluvial gold prospect.

At Ballieston, a historically active area for underground gold mining in the late 19th and early 20th centuries, the group was planning to drill a further 500m to follow up on the results of its previous 592m reverse circulation (RC) drill programme completed earlier in 2017.

The Moormbool licence covers an area that linked the Redcastle and Graytown goldfields about 45km east of Bendigo that had been largely unexplored due to pervasive alluvial cover.

A review of public domain geophysical data, as well as literature review, geological mapping and a programme of 600 soil samples across the Leviathan trend, was planned for the Timor site.

Craig Brown, chief executive of ECR, said "We observe a continuing resurgence of exploration activity in Victoria, one of the world’s most prolific gold producing regions, and ECR is pleased to be playing a part in this. We intend to continue our prudent approach to exploration expenditure working to maximise the value of ECR’s current projects whilst continually reviewing new projects and opportunities."

As of 1020 BST, ECR shares had moved forward 4.91% to 1.26p.