(Allianz News) – ECR Minerals plc said on Monday that the latest results from its soil survey at the Creswick project will improve target resolution and reduce operating costs.
ECR, an exploration and development company focused on gold in Australia, owns 100% of the Creswick project in Victoria.
Sample results include gold results from 297 soil samples from the Mills Reef prospect, with a maximum result of 0.68 parts per million.
Highlights include a comparative study showing a close spatial relationship between gold results and arsenic analysis. Further analysis and results of crushed stone indicate new opportunities in prospecting, and potential gold resources.
ECR believes that the close relationship between gold and arsenic can help reduce operating costs by determining which samples to send to the lab for gold analysis.
Additional soil sampling is ongoing with better soil sampling results. ECR took the first soil samples from the northern part of a settlement near Quartz Mountain.
Chief Executive Officer Andrew Heythorpe said, “Improving the determination of potential new drilling targets for the future – continues to provide a picture of the mineralization in the area”.
Heythorpe added: “I look forward to reporting the remaining sample results along with the preliminary results from the diamond drilling campaign.”
The announcement was reviewed by geologist Adam Jones, ECR Technical Research Director.
Shares in ECR were down 9.6% at 0.52 pence on Monday afternoon in London.
By Emma Curson, Alliance News Correspondent
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