(Alliance News) - ECR Minerals PLC said Friday it has submitted nine exploration licences at its Windidda gold project in Western Australia and has completed whole-of-bag testing at its Creswick gold project in Victoria, Australia.
Shares in the precious metal exploration and development company were down 8.3% in London in afternoon trading.
"During the summer months the ECR team have been heads down and working hard across multiple areas of the business and we expect to be able to provide multiple updates in respect of field exploration and corporate development activities across our business in the near future," ECR Chief Executive Officer Craig Brown said.
At Windidda, ECR said its nine exploration licences are in line with local requirements, and it is now "closely monitoring" the situation.
"ECR has been approached by a listed mineral exploration company seeking to farm into the project, and although we have not decided to proceed with this farm-in proposal at this time, we are encouraged to see the interest being shown by third parties at such an early stage," the company added.
At Creswick. ECR has sent its whole-of-bag testing samples for assay testing. The results, released in August, "demonstrated a substantial increase in gold grade on average in respect of the 17 samples tested".
"A further 113 samples, which for completeness included samples believed to be of lower grade, have been sent to the laboratory for assay testing with results expected to be received in the near future," added ECR.
By Paul McGowan; paulmcgowan@alliancenews.com
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ECR Minerals (ECR)