ECR Minerals kickstarts data analysis at Australian gold project
ECR Minerals on Monday reported that it has commenced analysis of airborne and ground geophysical data from its wholly owned Windidda gold project in Western Australia.
Structural trends of an interpreted buried Archaen greenstone belt at the project are being analysed by consultants instructed by the precious metals exploration and development company.
Nine new licence applications which comprise the Windidda Project have been submitted by the company, with the areas having been identified as a potential greenstone hosted orogenic gold exploration opportunity with significant potential to contain Archaen greenstones buried beneath cover.
The area overlies the northern margin of the Archean Yilgarn Craton, which ECR said is host to around 30% of the world’s known gold reserves and produces around two thirds of all gold mined annually in Australia.
Craig Brown, chief executive of ECR, said: "I am pleased to announce that we have launched the next crucial stage in the development of our understanding of scale of the Windidda gold project. The work being undertaken will greatly assist our understanding of the project and help us to focus on the higher profile target areas for follow up drilling."
The AIM traded company said the processing and interpretation of airborne and ground geophysics is an important element in the determination of high profile drill targets, as well as enabling the rapid assessment of the potential for gold mineralisation.
"The feedback from this work will be available to the company shortly and will enable us to advance our operational planning, including the development of key drill targets in our search for high impact gold mineralisation," said Brown.
ECR Minerals' shares were down 4.38% at 0.76p at 1634 BST.