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 VictoriaCraig 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.
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.