Skip to Content

ECR updates on search for ‘very high’ gold grades at Timor project in Victoria (ECR)

ECR Minerals (LSE:ECR) rose 2.04pc on Monday following the release of a positive drilling update for its Timor gold project in Australia. The £4.5m firm, which was trading at 0.93p a share on Tuesday, said it has now begun a rock chip sampling programme at the Victoria-based asset.

More than 90 samples have already been collected and submitted to the laboratory for assay testing as part of the programme, which will include the sampling of rock dumps from old gold workings. ECR will then undertake additional sampling along Timor’s two fault zones, to determine the style of gold mineralisation present.

Historical records demonstrate that operators have produced more than 640,000oz of gold at Timor from hard-rock and alluvial sources. Of this, they have mined 220,000oz from hard-rock operations at an average grade of 14g/t gold. Two fault zones called the Shaw-McFarlane Fault Zone (SMFZ) and the Leviathan-Mariners Fault Zone (LMFZ) are responsible for the majority of this output…

This article was originally published on our sister site MiningMaven.com, to read it in full please click here…

Valuethemarkets.com and Dynamic Investor Relations Ltd are not responsible for the content or accuracy of this article.  News and research are not recommendations to deal, and investments may fall in value so that you could lose some or all of your investment. Past performance is not an indicator of future performance.

  • Daniel Flynn does not hold any position in the stock(s) and/or financial instrument(s) mentioned in the piece.
  • Daniel Flynn has been paid to produce this piece by the company or companies mentioned above.
  • Dynamic Investor Relations Ltd, the owner of ValueTheMarkets.com, has been paid for the production this piece by the company or companies mentioned above.

Related Articles

Headlines

teathers app screenshot

App Empowering Private Investors

Crowd Equity for Placings, IPOs and Live Market Blockbuilds, designed to give provate investors access to placements and Intial Public Offerings (IPOs), predominantly on the London Stock Exchange’s Alternative Investment Market (AIM).