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ECR Minerals in middle of hot spot for Australian gold exploration

Snapshot

  • ECR Minerals has a clutch of gold exploration prospects in Australia
  • Five are in Victoria where one, Blue Moon at Bailieston, has been declared a discovery after bumper grades were unearthed.
  • Company is also exploring at Windidda in Western Australia
drill

Quick facts: ECR Minerals PLC

Price: 3.44 GBX

AIM:ECR
Market: AIM
Market Cap: £23.86 m
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What it owns

ECR's prospects in Victoria are Bailieston, Avoca, Timor, Creswick and Moormbool.

In Victoria, the company is now concentrating on two projects, Bailieston and Creswick, where a significant amount of boots-on-the-ground activity has continued into 2020, allowing for some coronavirus disruption. 

ECR also has the Windidda project in Western Australia. Fieldwork has yet to begin at Windidda, but the company has completed geophysical modelling and review of historical activity reports in order to better understand the potential prospectivity of the project.

How it's doing

In January 2021, the company put its newly acquired drill rig, named “Midas”, into operation at its inaugural drill site, the Byron prospect in the HR3 area of the Bailieston project. This is the first of numerous planned drill locations which will be coordinated from ECR’s central exploration facility compound in the Victoria Goldfields.

The extensive drilling the company plans to undertake will be funded from ECR’s existing cash resources and the Company can confirm that cash resources currently amount to circa £2.95 million providing a considerable forward cash runway for operational and corporate activities.

 

What the boss says: Craig Brown 

“There is continuing interest in ECR’s Bailieston and Creswick projects with regards to potential joint venture or earn in opportunities.

"The engagement we are experiencing is not surprising given the interest in Victoria gold opportunities, as evidenced by the many corporate transactions that we have seen in the area.”

"The directors are very optimistic for the future,." 

Latest video

Inflexion points

  • Drilling to the west at Blue Moon gets underway
  • Further exploration at Creswick and Windidda
  • ECR has a strong cornerstone investor in Shenyang Xinliaoan Machinery

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