(Alliance News) - ECR Minerals PLC said on Tuesday said the results of a study at the Windidda gold project, located in Western Australia, are "most encouraging".
Processing, analysis and interpretation of gravity and open file airborne geophysics survey data covering the Windidda gold project area has been completed by Western Geophysics Pty Ltd on behalf of ECR’s wholly owned Australian subsidiary, Mercator Gold Australia Pty Ltd.
The modelling results show the depths to magnetic sources are shallowest on the highly magnetic trend striking NNW-SSE in the western half of the Windidda project area. The magnetic and mineralised trend projects into Windidda exploration licence application E38-3369 and the modelling results indicate shallow feasible drill targets there, the company added.
"The results of the study by Western Geophysics are most encouraging and demonstrate real potential for the discovery of gold mineralisation hosted in under-cover Archaean greenstones in the world-class gold mining environment of Western Australia," said ECR Chief Executive Craig Brown.
"We look forward to moving the Windidda gold project forward and reporting back to the market with further developments," he added.
Shares in ECR were down 6.7% at 0.70 pence in London on Tuesday.
By Lucy Heming; lucyheming@alliancenews.com
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ECR Minerals (ECR)