ECR Minerals PLC on Tuesday said that drilling had commenced at its Creswick gold project in central Victoria, Australia.
The Australia-focused gold exploration company has begun reverse circulation drilling after being granted access to the site, which previously showed compelling evidence of gold mineralisation.
The company expects around 1,200 metres of reverse circulation drilling to be completed at around 12 locations at Creswick. Assay results following drilling are expected to be made available at some point in the first quarter of 2024.
Chief Operating Officer Mike Whitlow said: ‘In less than 12 weeks, the company has gone through a complete step change in approach. We have sufficient resources and budget for activities that will take us well into 2024, and whilst it’s exciting to be drilling, it’s more encouraging to be a part of a multifaceted approach which we believe will create shareholder value.’
ECR’s share price was down 0.3% at 0.23 pence each in London on Tuesday morning.
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