LONDON (Alliance News) - ECR Minerals PLC said Friday it restarted its gold exploration programme at the Bailieston licence in Central Victoria, Australia.
The exploration company said it identified eight principle targets within its five exploration licence areas.
The initial programme at the field is focused on ground exploration at the Byron and Cherry Tree Main targets, from which 150 rock chip samples have been collected.
Chief Executive Officer Craig Brown said: "With the support provided by investors in our recent financing, and following extensive review of the Victoria region gold prospective targets, ECR has recommenced its exploration programme in Australia."
"Given the level of interest in Australian gold exploration we are excited by the results we are achieving on the ground, where our principle objective is to achieve a significant gold discovery," added Brown.
Shares in ECR Minerals were trading up 2.3% at 0.82 pence each.
ECR Minerals (ECR)