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ECR Minerals ( (GB:ECR) ) has issued an announcement.
ECR Minerals has secured a new exploration licence, EL007486, known as Tambo South, in Victoria’s Gippsland region, substantially enlarging its existing Tambo project. The five-year licence spans 322 square kilometres of mainly Crown land, adjoins the current Tambo tenement to create a 47km contiguous strike, and is supported by a Native Title agreement with the Gunai-Kaurnai People.
Historical reports indicate the Tambo South licence area hosts gold, tungsten and copper, with multiple targets including extensions of the Haunted Stream shear zone, past wolframite workings at Tambo Crossing, base metal anomalies around Mt Elizabeth, and largely underexplored alluvial gold prospects at Shady Creek and Peters Creek. ECR plans initial grassroots work including stream and rock-chip sampling and LIDAR across projected shear zones, viewing the tenement as a key opportunity to expand operations in an increasingly active Gippsland exploration district while continuing work at Raglan, Blue Mountain and Lolworth in Queensland.
More about ECR Minerals
ECR Minerals is a UK-listed mineral exploration and development company focused on gold projects in Australia, operating through three wholly owned subsidiaries in Victoria and Queensland. Its portfolio includes the Bailieston, Creswick and Tambo gold projects in Victoria, as well as the Raglan alluvial gold project, Blue Mountain alluvial gold project, and extensive exploration ground at Lolworth Range in Queensland.
The company is working to advance Raglan and Blue Mountain towards production while exploring additional licences such as Kondaparinga in North Queensland. ECR also retains contingent payment rights from the sale of former Victorian projects to Fosterville South and Leviathan Gold, and holds substantial unutilised tax losses in Australia that could enhance future project economics.
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Technical Sentiment Signal: Hold
Current Market Cap: £9.87M
For a thorough assessment of ECR stock, go to TipRanks’ Stock Analysis page.