Stock of the year potentially9 May 2019 09:23
ECR Minerals PLC (LON:ECR) has dazzled investors after identifying more gold than it had first thought at its Creswick project in Australia.
Of the 17 holes drilled so far, ECR said it had found gold in all of them, with some grades coming in at a whopping 44.6 grams of gold per tonne of ore.
Those figures might be conservative though. Bosses believe that the gold mineralisation is ‘nuggety’ in nature, which can often lead to understated assays.
“The question we have to answer is how much gold does the DMS hold that would be amenable to a bulk tonnage gold mining operation,” said chief executive Craig Brown.
“We are closing in on the answer and the directors believe that the outcome has the potential to be company transformational and is therefore deserving of our close attention.”
ECR shares rocketed 44.6% to 0.94p on Wednesday afternoon.