ECR Minerals (ECR ) has been awarded 322 square kilometres of additional exploration ground in Victoria.
The new licence is designated EL007486 or the Tambo South Licence, and is located directly to the south of ECR’s Tambo project.
The new licence considerably extends the Tambo project area, with the two tenements covering a contiguous strike of 47 kilometres.
Gold, tungsten and copper have all been historically reported in the Tambo South licence area
In addition, the neighbouring Haunted Stream Goldfield has recorded encouraging drilling results on a shear zone that is believed to pass into the Tambo South Licence area.
EL007486 has been granted for an initial five-year term. The majority of the title encompasses Crown Land, and ECR has also signed a standard Native Title Agreement with the Gunai-Kaurnai People.
The Tambo South Licence is situated approximately 35km NE of the township of Bairnsdale in the eastern part of Victoria, also known as 'Gippsland'.
Initial analysis by ECR has identified several areas of interest on Tambo South and is now putting together an exploration programme that will include stream sampling, rock chip sampling and LIDAR acquisition. The focus will be within areas on the projected shear zones.
"We are pleased to confirm the extension of our Tambo project area with the award of this new tenement - an application that we had been seeking for some time in conjunction with our project planning for this region,” said ECR's chairman, Nick Tulloch.
"EL007486, or Tambo South, is considered to host multiple opportunities, and increasing activity within the Gippsland area supports our thesis that our new tenement can expand ECR's operations, including potentially through a largely under-explored alluvial opportunity. Across our other projects, I am pleased to report continuing operations at Raglan in Queensland alongside further planning for forthcoming activities at Blue Mountain and Lolworth. We also expect to publish our annual report later this week which will include a more detailed review of our strategy."
View from Vox
In a rising market, with production in hand at Raglan, now is the time to be expanding. The company already has a significant exploration portfolio, but the Gippsland area is famous for its prospectivity, and the additional of further ground can only add value at this point.