ECR Minerals PLC - London-based gold explorer with assets in Australia - Announces that permits are in place for planned diamond drilling for four initial holes covering over 1,000 metres at the Blue Moon prospect in the Bailieston project in Victoria, Australia.
Drilling is on-track to start in early September and will follow up on the results coming from the reverse circulation drilling conducted in 2019.
Should the planned drilling intersects mineralisation, it will show the potential to double the strike extent of the prospect.
On Tuesday, the results from drill hole BH3DD032 at the H43 prospect showed a link to previously drilled holes, revealing two potential mineralised corridors within the Maori Anticline.
‘Along with the ECR board, I am very much enthused by the potential opportunity on offer at Blue Moon. Our company has a portfolio of what we consider to be valuable gold exploration assets across Victoria, but I know Andrew and Adam view Blue Moon as an asset with significant potential, and as such are very keen to commence work there. I very much look forward to further progress updates in the coming weeks,’ said Chair David Tang.
Current stock price: 0.97 pence, up 4.3% on Thursday
12-month change: down 40%
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