ECR Minerals has announced plans to start drilling programmes at its gold projects located in the Australian territory of Victoria.
The company’s wholly-owned subsidiary Mercator Gold Australia has signed a contract for 4,000m to 6,000m of reverse circulation drilling in Victoria.
ECR plans to start drilling at the Creswick gold project this week aimed at targeting multiple quartz vein orientations identified within the Dimocks Main Shale (DMS ) that extends over a 15km region.
In September last year, the company’s exploration mapping identified a large gold system within the DMS, the hard-rock source of alluvial and deep lead gold.
After the completion of drilling at Creswick, ECR will move the drill rig to the Blue Moon gold prospect in the Bailieston project area to follow up the significant near-surface gold intercept.
ECR Minerals CEO Craig Brown said: “I am delighted to announce the commencement of this dual drill programme at Creswick and Bailieston which is seeking to test multiple gold targets across both projects.
“This is an extensive drilling campaign by the company, and one of the largest we have undertaken in recent times.
“ECR’s objective is to discover a multi-million ounce gold deposit in Australia and based on the significant technical work undertaken to date, we believe the Creswick and Bailieston licences hold the potential for such a discovery.”
The drilling programme is being carried out using existing cash resources.
Brown further added: “The company will be entitled to claim back a proportion of drilling costs under government grants subsidising drilling.”