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21 Jun 2019 | 13:18

ECR Minerals targets multi-million tonne gold bounty at Creswick project in Australia

ECR Minerals said internal modeling undertaken by its technical team had assessed that its Creswick gold project in Australia could host a multi-million ounce gold deposit, subject to further drilling.

The gold would be developed from the Dimocks Main shale formation. Detailed testing of sample bags for gold content was now underway.

'Given the recent results and the potentially company transformational nature of Creswick, I was very pleased with my site visit and our positive progress on all fronts,' chief executive Craig Brown said.

'Discussions with our advisors have demonstrated the significant potential of the project and we will continue to move our work programmes forward as aggressively as possible.'

'Subject to the ongoing results of our work, and assuming positive exploration outcomes, we are seeking to rapidly advance Creswick toward a JORC compliant resource.'

'We have been thorough in our planning, including the development of the sample testing programme, and this should provide a solid foundation for the further advancement of Creswick.'

At 1:18pm: (LON:ECR) ECR Minerals PLC share price was +0.08p at 0.98p

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