ECR Minerals reports good progress on Victoria gold exploration

ECR Minerals update the market on its gold exploration in central Victoria, Australia on Tuesday, which is being carried out by its wholly owned Australian subsidiary Mercator Gold Australia.

The AIM-traded fim said all prospects within MGA’s four exploration licence areas had now been reviewed and re-prioritised by Dr Rodney Boucher, with geological mapping completed in selected zones, and geochemical surveys underway.

It added that a drilling programme, to include multiple target areas, was now being planned.

“MGA’s on-the-ground activities in Victoria are now being led by Dr Rodney Boucher, who has extensive geological experience in Victoria, including many years of involvement with Perseverance Corporation, the original developers of the million-ounce Fosterville gold mine which is now owned by Kirkland Lake Gold,” the board said in its update.

“The Fosterville mine is located in the same district as MGA’s Bailieston and Moormbool licences.”

ECR said Dr Boucher had completed a review of all available data regarding MGA’s four exploration licences, visited most of the known prospects and carried out geological mapping in key zones.

A programme of geochemical sampling at the higher-priority prospects began earlier in February - the purpose of which was to augment existing data and help define drill targets.

“A drilling programme to commence in the first half of 2018 is being planned and will include multiple target areas.

“MGA currently intends to drill in the HR3 area and at the Blue Moon and Black Cat prospects within the Bailieston licence, at the Monte Christo and Bung Bong prospects within the Avoca licence, and to drill test the magnetic anomaly within the Moormbool licence.”

Drilling in each area would be subject to satisfactory results from the geochemical surveys which began earlier in the month, as well as receipt of all necessary government and landowner consents, the board said.

All required consents had already been obtained for drilling in the HR3 area and at the Black Cat prospect within the Bailieston licence.

“The company will announce the final composition of the drilling programme and the intended start date after the planning has been finalised.”