Share Talk spoke with Craig, who is currently in lockdown “circuit-breaker lockdown” in Sydney, Australia. We wanted to cover yesterday company announced “three new strategic licence applications” with a view to adding new exploration opportunities in Queensland, Australia.
With a strong cash position and have been able to expand drilling operations, commenced drilling at Creswick using external contractors. The Bailieston gold project is at the epicentre of the current gold exploration boom in Victoria
ECR Minerals plc (LON: ECR), the gold exploration and development company focused on Australia, is pleased to announce three new strategic licence applications with a view to adding new exploration opportunities in Queensland, Australia.
Three Exploration Permits in Application (“EPM”) licences have been submitted in North Queensland, Australia by LUX Exploration Pty Ltd (“LUX”) which is a 100%-owned Australian subsidiary of ECR Minerals.
Figure 1: Location of EPM27901, 27902 and 27903 and nearby gold deposits and towns.
Craig Brown, Chief Executive Officer, commented:
“The strong cash position enjoyed by ECR Minerals has not only enabled us to launch aggressive drilling programmes across our existing properties, but has also facilitated full utilisation of in-house and advisory resources to identify, investigate and potentially acquire new opportunities to expand our Australian exploration portfolio. Today’s announcement manifestly demonstrates that capability.
We are currently operating two diamond drill rigs at the Bailieston and Creswick projects in Victoria, Australia, both of which are delivering considerable amounts of drill core for technical review, processing and assay testing.
Figure 2: Plan of EPM application area showing historic stream sediment sampling results.
We believe the ongoing drilling operations and the upcoming implementation of drilling across multiple high-profile gold targets will expose ECR to potential new gold discoveries.
We also look forward to providing further information from the new Queensland Australia licence applications, which we believe offer significant potential for precious and base metal discoveries in an area of Australia where multiple large-scale discoveries have already been made.
Exploration work across Australia continues apace and we expect to provide further operational updates in the near term”
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