29th Jan 2019 13:27
LONDON (Alliance News) - ECR Minerals PLC said Tuesday it started a gold-focused drilling programme in Victoria, Australia.
The company has signed a contract for a 4,000 to 6,000 metres reverse circulation drilling across two project areas, Creswick and Bailieston.
Chief Executive Officer Craig Brown said: "I am delighted to announce the commencement of this dual drill programme at Creswick and Bailieston which is seeking to test multiple gold targets across both projects.
"This is an extensive drilling campaign by the company, and one of the largest we have undertaken in recent times. ECR's objective is to discover a multi-million ounce gold deposit in Australia and based on the significant technical work undertaken to date, we believe the Creswick and Bailieston licences hold the potential for such a discovery."
All the planned activities at the location will be funded with existing cash resources, ECR said.
ECR shares were trading up 12% at 0.87 pence each.
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