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LONDON (Alliance News) - ECR Minerals PLC said Wednesday it has applied for nine new exploration licences covering a package of ground in Australia, to be named the Windidda gold project.
Shares in ECR Minerals were up 2.9% at 0.72 pence in London on Wednesday.
The precious metals explorer said Windidda is prospective for gold mineralisation and is located in the Yilgarn region of Western Australia.
Windidda is expected to complement ECR's existing gold exploration portfolio in the south-east Australian state of Victoria.
ECR said the new application areas have been identified as potentially containing a greenstone-hosted gold exploration opportunity, and have significant potential to contain archaean greenstones.
Greenstone belts are well-known for containing gold, and archaean greenstone in particular tends to contain the most prolific gold deposits.
"I am particularly pleased to announce this strategic move into Western Australia, which, like Victoria, has exceptional gold exploration potential," said ECR Minerals Chief Executive Craig Brown.
"The funds secured by ECR in the strategic financings of July and December 2018 have enabled us to continue engaging aggressively with potential new initiatives, the Windidda project being one," Brown added.
