(Alliance News) - ECR Minerals PLC on Wednesday said it has received samples from its Lolworth Project in Queensland, as it looks to plan the next phase of its exploration.
The Australia-focused gold exploration company said the Reedy Creek prospect returned best rock chips of 22 grammes of gold per tonne, with stream samples of 205 parts per million.
Meanwhile, its Gorge Creek prospect delivered best rock chips of 13.75 grammes of gold per tonne, and stream samples of 1,395 parts per million. Its Butterfly Creek reported stream samples of 962 parts per million.
The company said stream sampling suggests that the best gold prospects may be Flaggy Creek, Butterfly Creek and Gorge Creek West. It noted that it has not yet explored Brumby Creek and Gorge Creek East in the same detail, but added that soil sampling has shown sporadic anomalous gold.
The best gold results from soil sampling at Flaggy Creek include 0.41 grammes per tonne, 0.19 grammes and 0.13 grammes.
Chief Operating Officer Mike Whitlow said: "The conclusion of the 2023 field work season at Lolworth has given us a solid platform from which to plan the next stage of our reconnaissance programme.
"We have identified several locations to hone in on and we believe that there are still other gold sources that can be followed up over in the coming year. Alongside the gold, we also have found the presence of the sought after Niobium-Tantalum Rare Earth minerals and, whilst this is only an initial indication, we expect this story will continue to develop."
ECR Minerals shares fell 4.7% to 0.26 pence each on Wednesday morning in London.
By Harvey Dorset, Alliance News reporter
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ECR Minerals (ECR)