ECR Minerals (AIM:ECR), the AIM-listed Australian gold exploration and development company, said underground development at its Maddens Underground Mine has begun generating ore, now stockpiled on the run-of-mine pad ahead of processing.
The company holds a 50% interest in the Maddens Gold Project, part of the historic Maddens Flat Group of Mines in North Queensland, which it has identified as one of its highest-priority production opportunities.
Development work has intersected an additional mineralised quartz vein containing visible gold, distinct from the main Maddens Reef, while the next phase of decline development, the downward tunnel accessing the ore body, is expected to start shortly.
A Knelson gravity concentrator is due on site within weeks to improve gold recovery ahead of processing.
At the Brothers Mining Lease, personnel and equipment redeployed from ECR's Raglan operation in July are being mobilised for trial alluvial mining, supported by encouraging prospecting results.
A recently completed LiDAR survey has identified features suggesting the Maddens mineralised system could extend towards the historic Sisters Mine, feeding into ongoing geological interpretation.
"Underground development is generating ore for future processing, preparations for the next phase of decline development are well advanced and upgrades to the processing plant continue," said Mike Parker, ECR's non-executive director.
Chairman Nick Tulloch said the company has deliberately redirected people, equipment and technical expertise towards Maddens and Brothers as nearer-term development priorities.
Through the third quarter, ECR expects to advance decline development, commission the gravity concentrator, begin processing stockpiled ore, and progress trial alluvial mining at Brothers.
News Intelligence what this means for the company
ECR Minerals has begun stockpiling ore from underground development at Maddens and discovered an additional mineralised vein with visible gold, moving the 50%-owned project closer to processing. The company is installing a Knelson gravity concentrator within weeks and expects to begin processing stockpiled ore in Q3, marking a transition from exploration toward production at what management has identified as a near-term priority.
ECR has shifted personnel and equipment from Raglan to Maddens as a deliberate reallocation of resources toward nearer-term production. The discovery of a second mineralised vein and the imminent arrival of processing equipment suggest the project is advancing on schedule, though the 50% ownership stake means ECR's upside is shared with a partner.
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