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ECR Minerals PLC said on Friday it has finished its 2025 drilling programme at the Lolworth gold and rare earths project and is finalising its most extensive alluvial gold drilling programme to date. The Australia-focused gold exploration and development company said drilling at the Lolworth project has confirmed gold and silver-bearing veins at shallow depths. ECR also said visible coarse gold has been confirmed in multiple zones at the Blue Mountain project. The company said it intends to submit a mining lease application for the Blue Mountain project during the fourth quarter of this year, which it says is an ‘important milestone’ towards near-term production and cash-flow generation. ECR said its chief geologist Adam Jones is expected to return to the Blue Mountain project site next week to pan and weigh more than 150 samples prior to detailed assay testing. The company also announced it is aiming to complete the proposed acquisition of the Raglan project. ECR will acquire Raglan Resources Pty Ltd and Raglan Mining Pty Ltd will be retained by the vendors. The vendors have confirmed that Raglan Resources carries A$1.2 million, approximately £579,984 of unutilised tax losses that can be combined with ECR’s existing A$75 million of tax losses and applied against its forthcoming production projects. Operations at the Raglan project are targeted to commence during the fourth quarter of 2025, which ECR said could ‘potentially’ provide the company ‘immediate production capability and revenue’. Jones said: ‘The completion of our first drilling campaign at the Lolworth project marks a significant step forward for ECR. We’ve confirmed the presence of gold and silver in multiple vein systems and identified several new mineralised outcrops for follow-up. ‘The visuals are highly encouraging, and the Lolworth project continues to show the scale and geological potential to be a major discovery in Queensland. With no native title constraints and close to 1,000 square kilometres of prospective ground, we believe Lolworth to be a project with truly district-scale potential.’ ECR Chair Nick Tulloch said: ‘The successful drilling at the Lolworth project marks an important milestone for ECR as we build momentum across our Queensland portfolio. With production planning advancing at both the Raglan project and the Blue Mountain project, and assay results and wash plant trials due in the coming weeks, the remainder of 2025 is expected to set the scene for what is a pivotal period for the company as we graduate from an explorer to a producer. ‘We are entering Q4 2025 with a significant number of near-term value catalysts that we believe are capable of redefining ECR. The Lolworth project remains our flagship exploration project with enormous upside potential, while our near-term production projects at the Blue Mountain project and the Raglan project underpin the company’s transition towards cash-flow generation.’ Shares in ECR rose 4.6% on Friday in London, closing at 0.23 pence. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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