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ECR Minerals completes drilling at Bung Bong
ECR Minerals announced on Thursday that drilling has been completed at the Bung Bong gold prospect in Central Victoria, Australia.
The AIM-traded firm said activity at Bung Bong formed part of a larger diamond drilling programme across a number of gold prospects in Central Victoria, all of which are 100% owned by its wholly-owned subsidiary Mercator Gold Australia.
It said drilling activities would commence shortly at the Monte Christo prospect, and would move thereafter to the Blue Moon, Black Cat and Byron prospects in the Bailieston tenement area.
Both Bung Bong and Monte Christo were part of the Avoca tenement area.
"Following a period of comprehensive geochemical and geophysical analysis across our four Victorian gold tenements, ECR is executing its plan to drill-test multiple high-priority gold prospects," said ECR CEO Craig Brown.
"It bears noting that all four of the tenements are located in areas of extensive historical mining, and in the case of Bailieston, close to mines that are significant gold producers today."
Brown said the near-term objective of ECR's work at Bung Bong, Monte Christo and the pipeline of other prospects was to identify those at which the geology might justify follow-up reverse circulation drilling, which would have the aim of delineating a maiden mineral resource estimate in respect of one or more deposits.
"We are excited that the first-pass drilling at Bung Bong is now complete and whilst we look forward to receiving assay results shortly, we are shifting our drilling operations to the Monte Christo prospect."