ECR Minerals PLC (AIM:ECR) said soil sampling has identified a potential new parallel gold system at its Creswick project in Victoria, Australia.
The potential new gold system is 500 metres east of the Dimocks Main Shale.
“My visit to Creswick with [ECR technical director of exploration] Adam Jones earlier this year and the subsequent success from the re-assay of the drill core confirmed to me that our asset has considerable potential to host gold at several locations,” said ECR chief executive Andrew Haythorpe in a statement.
“Today’s soil geochem results and the subsequent new gold system identified confirm beyond doubt that Creswick is host to a gold system that warrants an extended and detailed exploration campaign.
“We will continue to employ LIDAR Geochem across our Creswick tenements as we draw up a list of drill targets in 2023,” he added.
Two main areas have been identified with anomalous gold: The Davey Road Workings and the South Davey.