Craig Brown, Chief Executive Officer of ECR Minerals plc, commented:
“ECR’s wholly owned Australian subsidiary MGA has built a strategic portfolio of exploration ground in the Victoria Goldfields with granted and application licences totalling some 1,175 square kilometres.
Our newly acquired drill rig, named “Midas”, is now in 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 we plan 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.
We expect to provide regular drilling updates to the market including results from assay testing of drilling samples.”
ECR Minerals Victoria Goldfields Footprint
Please see the following link for a map showing all MGA’s current exploration licences and applications in Victoria:
The drill rig has been set up on a site adjacent to the Byron shaft in the HR3 area of the Bailieston project. Please see the following links for plans and sections of the planned drilling from the first site: