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ECR Minerals bounces after initial results from Creswick sample testing demonstrate “increased gold”

Craig Brown, ECR's CEO, said the results were "positive" and that further announcements from the testing were expected "in the near future"

ECR Minerals PLC - ECR Minerals bounces after initial results from Creswick sample testing demonstrate “increased gold”

ECR Minerals PLC (LON:ECR) shares bounced on Tuesday after initial results from a whole of bag testing at its Creswick project in Victoria, Australia demonstrated “increased gold” in the samples.

Craig Brown, chief executive of the AIM-listed explorer, said the results from the testing were “positive”, however, a significant amount of further information was required before conclusions could be drawn.

READ: ECR Minerals boosted by high grades in rock chip samples from the Timor gold project

“The results so far have demonstrated significant variability from the original assays, demonstrating that the small sample size can overstate and understate results”, Brown said, although he added that it was “good news” that the testing process had been set up and results were starting to flow.

ECR said setting up the testing process had taken “longer than anticipated” due to poor weather in Victoria over the Australian winter, however, Brown said that with the process now established more announcements were expected “in the near future”.

In late-morning, ECR’s shares were 4.4% higher at 0.9p.

Quick facts: ECR Minerals PLC

Price: 0.875 GBX

Market: AIM
Market Cap: £4.83 m

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