ECR Minerals awarded gold exploration licence at Moormbool

This new license, which was to be known as the Moormbool project, was centred roughly 10 kilometres northeast of Mandaly Resource's Costerfield gold antimony mine.

It was valid for five years since its registration on 11 July 2017, subject to conditions placed.

The main conditions of the licence, according to the directors, was a minimum outlay on exploration of AUD136,950 over the next five years.

ECR also announced the completion of drilling at the Baillieston project in June, with the test results of the samples collected expected shortly.

Craig Brown, CEO of ECR, commented: "Like the Bailieston project, the Moormbool tenement is situated at the heart of one of the principal modern-day mining districts in Victoria, and provides a readily accessible opportunity to explore for epithermal gold-bearing quartz veins, quartz stockworks and disseminated sulphides. The attractiveness of these target types is demonstrated by the success of the Fosterville and Costerfield mines nearby."

Mercator also had 100% ownership of the Avoca, Bailieston and Timor projects in Australia.

Furthermore, the group is globally established with a 25% interest in the Danglay epithermal gold project, an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines.

Meanwhile, its wholly owned Argentine subsidiary Ochre Mining had 100% ownership of the SLM gold project in La Rioja, Argentina.