ECR Minerals ahead of schedule on Lolworth sampling

4th Oct 2022 14:05

(Sharecast News) - Australia-focussed gold explorer and developer ECR Minerals updated the market on the stream sediment sampling campaign currently underway on its tenements at Lolworth Range in north Queensland.

The AIM-traded firm has 100% ownership of three exploration tenements - EPM27901, EPM27902 and EPM27903.

It said the tenements cover the Lolworth Range, 120 kilometres west of the Charters Towers gold district.

The project was being explored under ECR's wholly-owned Australian subsidiary Lux Exploration.

It said on Tuesday that the programme was "well ahead of schedule" and was now close to 75% complete.

More than 91 samples had been despatched and were awaiting results from the laboratory, with follow-up sampling work continuing.

"Although it is early in the planned exploration schedule, we've made a very encouraging start to what will be a detailed and exhaustive exploration programme," said chief executive officer Andrew Haythorpe.

"Once the remaining samples have been collected and documented, we will then move to establish a shortlist of targets for further exploration.

"I look forward to reporting shortly our conclusions once the remaining sampling work has been completed."

At 1206 BST, shares in ECR Minerals were down 0.14% at 0.7p.

Reporting by Josh White at Sharecast.com.