Share Prices & Company Research

Market News

02 Jan 2019 | 10:11

ECR Minerals touts 'exceptional' gold exploration opportunity amid move into Western Australia

ECR Minerals said Wednesday it had submitted nine new exploration licence applications in Austrialia covering 523 square kilometres of the Yilgarn Craton region.

The licences would be called the Windidda gold project and would, when granted, complement the company's existing gold exploration portfolio in Victoria, Australia.

The application areas had 'significant potential' to contain Archaean greenstones, which host many of Western Australia and the world’s most prolific gold deposits, the company said.

ECR’s target areas were expected to be amenable to aircore drilling across gravity-magnetic anomaly targets to enable rapid assessment of potential for gold mineralisation, the company added. 'I am particularly pleased to announce this strategic move into Western Australia, which, like Victoria, has exceptional gold exploration potential in a first world operating environment,' said Craig Brown, Chief Executive Officer of ECR Minerals.

'Greenstone-hosted gold trends in the Western Australian Yilgarn province are very tightly held and access to free ground, when it becomes available, is highly competitive.' 'We are acquiring new ground in Australia at a time when many explorers and developers are financially weakened by market conditions. This, although unfortunate for the wider resource sector, is presenting ECR with multiple highly attractive options, and we intend to take full advantage.'

At 10:11am: (LON:ECR) ECR Minerals PLC share price was +0.03p at 0.73p

Story provided by StockMarketWire.com
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.