- ECR Minerals said it had received high-grade gold assays from a recent rock-chip sampling programme at the Timor gold project in Australia's Victoria state.

The project was one of five held by ECR in the Victorian Goldfields region, with three projects -- at Bailieston, Creswick and Timor -- now the subject of active exploration or project development operational activity.

'I am extremely pleased to announce the receipt of high-grade gold assays from the Shaw's Reef and Anglo-Saxon Reef prospects, during a recent reconnaissance sampling program where assays of 22.6 g/t and 26.3 g/t Au were received, respectively,' chief executive Craig Brown said.

'Both these samples are of vein quartz taken randomly from the main waste dumps created by the old underground operations of the late 1800s and early 1900s.'

'Furthermore, the reconnaissance has discovered the Brilliant/Northumbria reef and its extensive gold workings, including an old open cut.'

'This prospect area extends over a length of approximately 500m and is up to 80m wide and assays from 13 samples indicate widespread low-grade gold mineralisation.'

At 1:42pm: [LON:ECR] ECR Minerals PLC share price was +0.08p at 1p

Story provided by