(Alliance News) - ECR Minerals PLC on Monday touted the latest results from pan concentrate stream samples at its Lolworth project in North Queensland, which it said suggest extended mineralisation.
Lolworth is located 120 kilometres west of Charters Towers, a gold mining centre in North Queensland, Australia.
According to the Australia-focused mineral exploration and development company, results from the latest samples, whilst still early stage, suggest an extension in the size of the gold footprint south of the Reedy Creek area into Butterfly Creek.
The latest soil results from the Gorge Creek West area also correlate with a quartz sub-crop which has been mapped across the ridgeline.
ECR Minerals added that results from Flaggy Creek and Reedy Creek West soil sampling are due soon, with interpretation of these results determining the next steps to be taken. Operations have been paused while the firm evaluates its workplan.
"Our Lolworth project is progressing nicely and we are consistently seeing visible gold, which supports the historical evidence, but more importantly validates our own thesis. We are collating the data into our work plan to conclude the reconnaissance work and prepare for the target generation stage. We expect to provide further updates soon," said Chief Operations Officer Mike Whitlow.
ECR Minerals shares were trading 0.5% lower at 0.22 pence each in London on Monday afternoon.
By Holly Beveridge, Alliance News reporter
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ECR Minerals (ECR)