Home » Posts tagged 'newmont mining corporation'

Tag Archives: newmont mining corporation

ECR Minerals #ECR – Drilling Update – Black Cat Gold Prospect, Australia

ECR Minerals plc (LON:ECR), the precious metals exploration and development company, is pleased to announce that drilling at the Black Cat gold prospect in the state of Victoria, Australia, has commenced and the first two holes have been successfully completed.

Composite samples representing 4m downhole lengths will be compiled from the Black Cat drill cuttings and sent to be assayed for gold. After receipt of the assay results, composites which have returned anomalous gold grades will be re-sampled on a metre by metre basis and this second set of samples will be sent for assay. Assay turnaround time is estimated to be 2-6 weeks.

Further information in respect of this drill programme is available in the Company’s announcement of 4 February 2019, which can be viewed at the following link:

https://polaris.brighterir.com/public/ecr_minerals/news/rns/story/w1mok9w

Black Cat Photo Gallery

It is also the Company’s intention to provide site photographic images for the Black Cat gold prospect drill location and drilling process on the Company’s website.

The images may be viewed at the following link:

https://www.ecrminerals.com/black-cat-gallery

MARKET ABUSE REGULATIONS (EU) No. 596/2014

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (MAR). Upon the publication of this announcement via Regulatory Information Service (RIS), this inside information is now considered to be in the public domain.

FOR FURTHER INFORMATION, PLEASE CONTACT:

ECR Minerals plc Tel: +44 (0)20 7929 1010
David Tang, Non-Executive Chairman
Craig Brown, Director & CEO

Email:

info@ecrminerals.com

Website: www.ecrminerals.com
WH Ireland Ltd Tel: +44 (0)161 832 2174
Nominated Adviser
Katy Mitchell/James Sinclair-Ford
SI Capital Ltd Tel: +44 (0)1483 413500
Broker
Nick Emerson

ABOUT ECR MINERALS PLC

ECR is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Limited has 100% ownership of the Avoca, Bailieston, Creswick, Moormbool and Timor gold exploration licences in central Victoria, Australia and the Windidda gold project in the Yilgarn Region, Western Australia.

ECR has earned a 25% interest in the Danglay epithermal gold project, an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines. An NI43-101 technical report was completed in respect of the Danglay project in December 2015 and is available for download from ECR’s website.

ECR’s wholly owned Argentine subsidiary Ochre Mining has 100% ownership of the SLM gold project in La Rioja, Argentina. Exploration at SLM has focused on identifying small tonnage mesothermal gold deposits which may be suitable for relatively near-term production.

ECR Minerals #ECR – Drilling Update – Creswick Gold Project Australia

ECR Minerals plc (LON:ECR), the precious metals exploration and development company, is pleased to announce that the Company’s drill programme at the Creswick gold project in the state of Victoria, Australia, has commenced and the first four holes have been successfully completed.

Further information in respect of this drill programme is available in the Company’s announcement of 29 January 2019.

In addition, ECR have produced a project specific presentation for the Creswick gold project, which may be viewed on the Company’s website through the following link:

PDF version:

https://www.ecrminerals.com/investors-media/presentations/download?path=ECR%2BCreswick%2BQ1%2B2019%2BDrilling%2B%2BProgramme%2B08-02-19.pdf

PowerPoint version:

https://www.ecrminerals.com/investors-media/presentations/download?path=ECR%2BCreswick%2BQ1%2B2019%2BDrilling%2B%2BProgramme%2B08-02-19.ppsx

It is also the Company’s intention to provide site photographic images for the Creswick gold project drill location and drilling process on the Company’s website.

The images may be viewed through the following link:

https://www.ecrminerals.com/creswick-gallery

COMPETENT PERSON STATEMENT

The information in this announcement that relates to Exploration Results is based on information compiled by Dr Rodney Boucher of Linex Pty Ltd. Linex Pty Ltd provides geological services to Mercator Gold Australia Pty Ltd, including the services of Dr Boucher, who has a PhD in geology, is a Member and RPGeo of the Australian Institute of Geoscientists and is a Member of the Australian Institute of Mining and Metallurgy. Dr Boucher has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Dr Boucher consents to the inclusion in the announcement of the material based on his information in the form and context in which it appears.

MARKET ABUSE REGULATIONS (EU) No. 596/2014

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (MAR). Upon the publication of this announcement via Regulatory Information Service (RIS), this inside information is now considered to be in the public domain.

FOR FURTHER INFORMATION, PLEASE CONTACT:

ECR Minerals plc Tel: +44 (0)20 7929 1010
David Tang, Non-Executive Chairman
Craig Brown, Director & CEO
Email:

info@ecrminerals.com

Website: www.ecrminerals.com
WH Ireland Ltd Tel: +44 (0)161 832 2174
Nominated Adviser
Katy Mitchell/James Sinclair-Ford
SI Capital Ltd Tel: +44 (0)1483 413500
Broker
Nick Emerson

ABOUT ECR MINERALS PLC

ECR is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Limited has 100% ownership of the Avoca, Bailieston, Creswick, Moormbool and Timor gold exploration licences in central Victoria, Australia and the Windidda Gold Project in the Yilgarn Region, Western Australia.

ECR has earned a 25% interest in the Danglay epithermal gold project, an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines. An NI43-101 technical report was completed in respect of the Danglay project in December 2015 and is available for download from ECR’s website.

ECR’s wholly owned Argentine subsidiary Ochre Mining has 100% ownership of the SLM gold project in La Rioja, Argentina. Exploration at SLM has focused on identifying small tonnage mesothermal gold deposits which may be suitable for relatively near-term production.

ECR Minerals #ECR – Gold Focused Drill Programme to Commence – Victoria Region Australia

ECR Minerals plc (LON:ECR), the precious metals exploration and development company, is pleased to announce the commencement of its gold focused drilling programme at the Company’s Victoria Region gold projects in Australia.

HIGHLIGHTS:

  • A contract has been signed for 4,000 to 6,000m of reverse circulation (RC) drilling in Victoria, Australia by ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd (“MGA”).

Creswick Gold Project

  • Drilling at the Creswick gold project is expected to commence this week targeting multiple quartz vein orientations identified within the Dimocks Main Shale (“DMS”), which extends over a 15km trend, approximately 7km of which is covered by MGA’s granted exploration licence and exploration licence applications;
  • As announced on 25 September 2018 at Creswick the Company’s exploration mapping has identified a large gold system within the DMS;
  • The DMS is the hard-rock source of much alluvial and deep lead gold, with historical alluvial and deep lead production estimated at up to 2.5 Moz in the Creswick/Berry lead system, and up to 11 Moz in the entire Ballarat area, of which the DMS is a significant contributor.

Bailieston Gold Project

  • Following completion at Creswick, the drill rig will move to the Blue Moon gold prospect in the Bailieston project area to follow-up the significant near surface gold intercept and evidence of a near surface mineralised gold system as announced by ECR on 6 July 2018;
  • The drill target at Blue Moon is a sandstone which has been heavily weathered near surface, but may host higher grade gold mineralisation, including disseminated sulphides, at deeper levels.

Craig Brown, Chief Executive Officer of ECR Minerals plc, commented: “I am delighted to announce the commencement of this dual drill programme at Creswick and Bailieston which is seeking to test multiple gold targets across both projects.

This is an extensive drilling campaign by the Company, and one of the largest we have undertaken in recent times. ECR’s objective is to discover a multi-million ounce gold deposit in Australia and based on the significant technical work undertaken to date, we believe the Creswick and Bailieston licences hold the potential for such a discovery.

All the planned drilling is being undertaken from existing cash resources. The Company will be entitled to claim back a proportion of drilling costs under government grants subsidising drilling. As a result, and assuming on budget operations and cost recovery through grants, the entire programme is estimated to amount to under 20% of existing cash resources.

I would like to thank our technical team and advisers for their hard work in recent weeks to bring this programme together.

We will ensure material developments are released to the market as appropriate during the coming weeks and months.”

COMPETENT PERSON STATEMENT

The information in this announcement that relates to Exploration Results is based on information compiled by Dr Rodney Boucher of Linex Pty Ltd. Linex Pty Ltd provides geological services to Mercator Gold Australia Pty Ltd, including the services of Dr Boucher, who has a PhD in geology, is a Member and RPGeo of the Australian Institute of Geoscientists and is a Member of the Australian Institute of Mining and Metallurgy. Dr Boucher has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Dr Boucher consents to the inclusion in the announcement of the material based on his information in the form and context in which it appears.

MARKET ABUSE REGULATIONS (EU) No. 596/2014

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (MAR). Upon the publication of this announcement via Regulatory Information Service (RIS), this inside information is now considered to be in the public domain.

FOR FURTHER INFORMATION, PLEASE CONTACT:

ECR Minerals plc Tel: +44 (0)20 7929 1010
David Tang, Non-Executive Chairman
Craig Brown, Director & CEO

Email: info@ecrminerals.com

Website: www.ecrminerals.com
WH Ireland Ltd Tel: +44 (0)161 832 2174
Nominated Adviser
Katy Mitchell/James Sinclair-Ford
SI Capital Ltd Tel: +44 (0)1483 413500
Broker
Nick Emerson

ABOUT ECR MINERALS PLC

ECR is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Limited has 100% ownership of the Avoca, Bailieston, Creswick, Moormbool and Timor gold exploration licences in central Victoria, Australia and the Windidda Gold Project in the Yilgarn Region, Western Australia.

ECR has earned a 25% interest in the Danglay epithermal gold project, an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines. An NI43-101 technical report was completed in respect of the Danglay project in December 2015 and is available for download from ECR’s website.

ECR’s wholly owned Argentine subsidiary Ochre Mining has 100% ownership of the SLM gold project in La Rioja, Argentina. Exploration at SLM has focused on identifying small tonnage mesothermal gold deposits which may be suitable for relatively near-term production.

ECR Minerals #ECR – Windidda Gold Project Presentation – Yilgarn, Western Australia

ECR Minerals plc (LON:ECR), the precious metals exploration and development company, is pleased to announce it has today released a new presentation covering the Windidda gold project in Western Australia, details of which were released in the Company’s announcement of 3 January 2019 entitled “Strategic Gold Licence Applications – Yilgarn Region Australia”.

The presentation may be viewed through the following links:

PDF version:

https://www.ecrminerals.com/investors-media/presentations/download?path=ECR%2BWindidda%2BAu%2BProject%2BPresentation.pdf

PowerPoint version:

https://www.ecrminerals.com/investors-media/presentations/download?path=ECR%2BWindidda%2BAu%2BProject%2BPresentation.ppsx

PRESENTATION HIGHLIGHTS:

  • The Windidda gold project consists of nine exploration licence applications submitted by ECR’s 100%-owned operating vehicle Mercator Gold Australia Pty Ltd and covering a large ground area of approximately 1,600 square kilometres in the Yilgarn Craton, Australia;
  • The area under application covers the southern margin of the Canning Basin, which has been interpreted, based on available gravity and magnetic data, to overlie the northern margin of the Archean Yilgarn Craton;
  • The Yilgarn Craton is host to around 30% of the world’s known gold reserves and produces around two thirds of all gold mined annually in Australia;
  • The Windidda project is targeting regional gravity-magnetic anomalies and potential under-cover Archaean greenstone hosted gold mineralisation, an exploration model that has been successfully tested by Greatland Gold plc (LON:GGP) at its Ernest Giles project located approximately 125 kilometres east of ECR’s Windidda project;
  • Further updates will be made in due course regarding the progress of licence applications, continuing project review and exploration planning.

Craig Brown, Chief Executive Officer of ECR Minerals plc, commented: “ECR Minerals is building its strategic gold exploration portfolio at what the directors believe is a fascinating time in the gold industry, underlined by the acquisition of Goldcorp Inc. by Newmont Mining Corp. announced this week.

Larger companies within the sector are often in search of new gold discoveries to replace reserves as they are mined, potentially putting proactive junior gold explorers in a prime position should they be able to identify highly prospective territory, achieve a discovery and/or build strategic knowledge through exploration.

ECR has already identified a large, but early stage, gold system at its Creswick project in Victoria, Australia and is working to advance that project as rapidly as possible. The Windidda project diversifies ECR’s interests into Western Australia and the highly prospective Yilgarn Craton, which the directors believe is amply demonstrated by the presentation linked above. Following the financings completed in 2018, ECR is able to move forward confidently with new initiatives like the Windidda gold project.”

COMPETENT PERSON STATEMENT

Information disclosed in this announcement has been reviewed by Samuel Garrett, a Competent Person within the meaning of Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code) and for the purposes of the AIM Rules.

Mr Garrett holds a BSc (Hons) in Geology and an MSc in Economic Geology from the University of Tasmania. He is a member of the Australian Institute of Geoscientists and a member of the Society of Economic Geologists (USA).

FOR FURTHER INFORMATION, PLEASE CONTACT:

ECR Minerals plc Tel: +44 (0)20 7929 1010
David Tang, Non-Executive Chairman
Craig Brown, Director & CEO

Email:

info@ecrminerals.com

Website: www.ecrminerals.com
WH Ireland Ltd Tel: +44 (0)161 832 2174
Nominated Adviser
Katy Mitchell/James Sinclair-Ford
SI Capital Ltd Tel: +44 (0)1483 413500
Broker
Nick Emerson

ABOUT ECR MINERALS PLC

ECR is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia has 100% ownership of the Avoca, Bailieston, Creswick, Moormbool and Timor gold exploration licences in central Victoria, Australia and the Windidda gold project in the Yilgarn region, Western Australia.

ECR has earned a 25% interest in the Danglay epithermal gold project, an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines. An NI43-101 technical report was completed in respect of the Danglay project in December 2015 and is available for download from ECR’s website.

ECR’s wholly owned Argentine subsidiary Ochre Mining has 100% ownership of the SLM gold project in La Rioja, Argentina. Exploration at SLM has focused on identifying small tonnage mesothermal gold deposits which may be suitable for relatively near-term production.

#ECR Minerals’s Craig Brown says new Yilgarn gold properties look “highly prospective” – Proactive Investors

Shares in ECR Minerals PLC (LON:ECR) moved up by almost 10% to 0.8p at the end of the first week of the year, following the application for licences over 1,600 square kilometres of new ground in the Yilgarn in Western Australia.

The ground has been identified as having significant potential for hosting Archean greenstone belts of the kind that host many of Western Australia’s and the world’s richest gold deposits.

READ: ECR Minerals moves into Western Australia

“It looks like very prospective territory,” says Craig Brown, ECR’s chief executive.

“Everybody regards Western Australia as a very promising area to work in.”

The opportunity on the new ground is enhanced because it comes with pre-existing data.

“There was some work completed in the 1980s and 1990s,” says Brown.

“But they were looking for nickel at the time, and they also found molybdenum. So one of the first things we’re going to do is go over that old information. Because nobody’s ever looked for gold here.”

One reason for that is that the rocks that may be mineralised lie under cover, so opportunities for geochemistry are limited.

But ECR is hopeful that the cover may be fairly shallow, and that exploration work will be relatively straightforward.

“The best way to test it is to do aircore drilling,” says Brown.

“It’s very cheap at around A$40 or A$50 per metre, including assaying costs, so our plan is to do an aircore programme once we’ve reviewed the existing data.”

ECR is unlikely to move on that until the licences have actually been granted, although Brown doesn’t see any real issue with that.

After all, the deal that’s wrapped around them is pretty attractive: for 19 licences the company must pay A$1,400 each, plus an annual rent, that takes the total cost up to only A$88,000.

“Hopefully they’ll be granted in the next quarter,” says Brown, “and we’ll move pretty quickly after that.”

Australia projects

In the meantime, work is continuing on ECR’s other Australian gold projects, in particular, Bailieston and Creswick.

“At Bailieston we want to go back and have a look at Blue Moon, Black Cat and Byron targets,” says Brown.

“We’re planning on conducting a small programme of drilling at Blue Moon in the current quarter of this year. We’re just budgeting the whole thing out. We drilled at Blue Moon in May 2018 and we came across a zone of mineralisation where all the rocks were weathered and you could see that the mineralisation had already been leached out of the rock.”

What was really interesting though, was that the mineralisation in question showed considerable similarity to Mandalay’s Costerfield mine, 25 kilometres away.

“They mine between 150 and 200 metres below the surface,” explains Brown.

We believe we can hit fresh rock and sulphides beneath the leached material that we’ve already intersected.”

So that’s one intriguing aspect of the project. Another is that Newmont picked up ground adjacent to Bailieston in December. So we’re not just talking about small companies operating on the edge of geological speculation here. The big players are coming in too.

Then there’s the Avoca licence, which is likely to be the subject of a 1,500-metre rotary air blast (RAB) programme shortly, and Creswick over in Victoria which will also be investigated.

Creswick, in particular, holds significant potential, according to Brown.

“We’re quite optimistic there’s something down there,” he says.

So lots to look forward to over the coming months, especially since ECR Minerals already has the money in the bank to pay for all this work.

There’s £1.2mln currently in the treasury, according to Brown, following two fundraising exercises undertaken last year: a £650,000 raise in July, and a £700,000 raise in December.

And that means that shareholders will be able to enjoy the full benefits of any positive newsflow without having to look over their shoulders to worry about dilution any time soon.

ECR has, in any case, a very supportive cornerstone investor in Shenyang Xinliaoan Machinery, a connection Brown brought with him when he joined ECR, acquired during his days operating in Central Asia.

All told, ECR looks to be on a secure footing going into 2019, with plenty of exciting newsflow to come, and the nice backdrop of a rising gold price to put it all into context.

ECR Minerals #ECR – New Licence Applications – Australian Gold Portfolio

ECR Minerals plc (LON:ECR) the precious metals exploration and development company is pleased to announce the Company has submitted new licence applications to augment its existing gold exploration interests in the Victoria region of Australia.

Highlights:

  • Four new licence applications in Australia’s Victoria region have now been submitted by ECR’s 100% owned Australian operating vehicle Mercator Gold Australia Pty Limited;
  • Three applications have been submitted in the Bailieston/Moormbool gold project area to augment existing licences and secure available ground south and south and south west of an application submitted by Newmont Exploration Pty Limited in recent weeks;
  • One application has been submitted to augment ground in the Creswick project area and covers a southern portion of the Dimocks Main Shale (“DMS”);
  • As outlined in the Company’s market announcement of 25 September 2018 “The DMS sits between two large gold producing areas where it is estimated historically, 15 million ounces of gold has been produced in Victoria, Australia. It is the proposition of the Company’s technical team that they have identified the hard rock source for a significant portion of the aforementioned 15 million ounces of gold production. Although further work is required to validate this proposition”;
  • Further work is being undertaken to add additional licence application ground in Australia where the Company has identified strategic exploration opportunities.

Craig Brown, Chief Executive Officer of ECR Minerals plc commented: “I am delighted to announce today that the Company has successfully submitted four new applications which materially bolster our strategic ground holding and provide significant additional exploration opportunities for our Australian operations.

The recent application submitted by Newmont Exploration Pty Limited over a large area bordering our Bailieston and Moormbool gold projects is an important ratification of our strategic Australian gold positioning. The presence of Newmont adds weight to the potential prospectivity of the area.

ECR’s exploration work at Bailieston has recently demonstrated gold prospectivity as highlighted by the results of our Bailieston sampling programme announced on 28 September 2018 with gold grades up to 67.4g/t.

At Creswick and as announced on 25 September 2018 our exploration mapping revealed a large gold system, and reflecting our wider exploration work to date, we have taken the opportunity to secure more strategic ground south of our existing Creswick project area.

ECR continues to examine new opportunities and will move to secure additional ground where appropriate.”

FOR FURTHER INFORMATION, PLEASE CONTACT:

ECR Minerals plc Tel: +44 (0)20 7929 1010
David Tang, Non-Executive Chairman
Craig Brown, Director & CEO

Email:

info@ecrminerals.com

Website: www.ecrminerals.com
WH Ireland Ltd Tel: +44 (0)161 832 2174
Nominated Adviser
Katy Mitchell/James Sinclair-Ford
SI Capital Ltd Tel: +44 (0)1483 413500
Broker
Nick Emerson

ABOUT ECR MINERALS PLC

ECR is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia has 100% ownership of the Avoca, Bailieston, Creswick, Moormbool and Timor gold exploration licences in central Victoria, Australia.

ECR has earned a 25% interest in the Danglay epithermal gold project, an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines. An NI43-101 technical report was completed in respect of the Danglay project in December 2015 and is available for download from ECR’s website.

ECR’s wholly owned Argentine subsidiary Ochre Mining has 100% ownership of the SLM gold project in La Rioja, Argentina. Exploration at SLM has focused on identifying small tonnage mesothermal gold deposits which may be suitable for relatively near-term production.

EXCLUSIVE: Newmont Mining secures license area next to ECR Minerals’ Baileston gold project – Value The Markets

EXCLUSIVE: Newmont mining secures license area next to ECR Minerals’ Baileston gold project

 

There has been a very interesting development next to ECR Minerals’ (LSE:ECR) Bailieston license (EL5433) in Victoria, Australia. Newmont Mining Corp, one of the world’s largest gold producers has just applied for the license for a large block of land right next door. Although the license has yet to be awarded, if it is then this could prove to be a highly significant event for ECR

Excitement was already building for ECR’s 100% Bailieston gold project, given its relatively close proximity to a number of profitable, high-grade operations. The Fosterville gold mine is around 30km to the west and is currently the largest producing gold mine in Victoria. To the southwest, roughly the same distance, sits the Costerfield gold mine, which is another prolific produce.

As promising as the region Bailieston sits in already is, the recent move by Newmont could mark the start of something big for ECR. A company like Newmont typically dedicates a great deal of resources to due diligence prior to securing new licenses. A search of the Victoria State’s ‘GeoVic’ online database confirms it has indeed just applied for license EL006893, which borders Bailieston.

It seems that EL006893 has only become available within recent weeks, which suggests Newmont may have been keeping a close eye on it for some time. This might not be surprising given the resurgence of gold exploration in the region.

Traditionally Central Victoria has been an intensive gold producing area since the precious metal was first discovered there in 1850. In fact, it is only in recent years that Victoria’s gold output has been surpassed by Western Australia’s. Part of the recent revival has been driven by Kirkland Lake Gold, the owner of Fosterville, discovering more than 1.1m ounces of gold last year.

As well as the main EL5433 block shown on the map, ECR’s license also includes a smaller block (Black Cat) directly adjacent to the south of the area Newmont are showing interest in. The block used to be connected to the main section of EL5433, but due to local licensing rules explorers must drop 40% of the license after three years, and a further 40% after five years.

ECR also owns the Moormbool license (EL00628), which it secured in July 2017. The block is largely unexplored and covers approximately 59 square kilometres. This block sits south of Black Cat and the potential new license acquisition by Newmont, with the Costerfield Mine to the south-west currently producing 50,000 ounces of gold per annum. Costerfield is a below surface mine on block EL3310 consisting of narrow high-grade veins.

Then there is the Fosterville gold mine, which enjoys a very high 94% recovery rate, with a reserve grade of 23.1 g/t Au. It is estimated that approximate production costs at Fosterville are around AUD$880 per oz, compared with a current gold price of around AUD$1665 as of today. The mine is expected to produce 300,000 ounces in 2018 and is also rich in by-products such as silver.

Although GeoVic suggests Newmont’s status description for EL006893 is an “application”,  the implications of a major player swooping in to secure a large chunk of the area are clear. Regardless of whether Newmont is successful in its application, it clearly sees enough that it like to regard this specific area as worthy of future exploration work. For ECR Minerals this looks good news and the company seems to be very well placed to take advantage of a gold rush revival in the Central Victoria region.

Authors: Stuart Langelaan & Ben Turney

I would like to receive Brand Communications updates and news...
Free Stock Updates & News
I agree to have my personal information transfered to MailChimp ( more information )
Join over 3.000 visitors who are receiving our newsletter and learn how to optimize your blog for search engines, find free traffic, and monetize your website.
We hate spam. Your email address will not be sold or shared with anyone else.