ECR Minerals (ECR ) is continuing with the development of the decline at the Maddens project in Australia, with first gold from main production ore targeted to commence processing during November.
The next level being accessed has the potential to generate approximately 2,500 ounces of gold on a 100% project basis, gross to the joint venture.
ECR currently anticipates two initial sources of gold production at Maddens.
The first is from mineralised material already accumulated on surface through underground development work, which the company is currently processing. Grades are expected to be lower than, and not representative of, the targeted mining area at the Maddens underground mine itself.
However, this operation will represent initial gold production at the mine and provides the team onsite with initial processing material for the recently refurbished on-site mill.
The second, and significantly more substantial, expected source of gold production will be primary ore mined via the decline once development reaches the planned mining position and stoping commences.
The recently identified Jack's Reef discovery and broader geological interpretation of the Maddens system also provide additional potential for future near-mine growth.
Meanwhile, at Brothers ECR is advancing systematic bulk sampling and alluvial trial processing as its next operational priority after Maddens.
Initial surface prospecting recovered multiple gold nuggets from 26 locations, including a 12.3g nugget from Brothers Creek that feeds the Brothers Mining Licence.
ECR is now progressing towards systematic bulk sampling and alluvial trial processing within the granted Brothers mining licence, supported by equipment redeployed from Raglan to the Maddens Flat area.
At Salt Bush an initial JORC inferred mineral resource estimate is targeted for the first quarter of 2027. The company has committed A$200,000 towards the project to fund the initial work plans.
Meanwhile, exploration planning at Lolworth is advancing and further updates are expected from Blue Mountain and the Bold Gold-funded Creswick joint venture.
"We entered 2026 focused on production and generating cashflow, and that remains our overriding priority,” said Nick Tulloch, ECR’s chairman.
“With development at Maddens continuing to advance, we remain confident that ECR can achieve a production milestone before the end of the year. For us, the forthcoming commencement of production at Maddens will represent a significant turning point for ECR and an important milestone for our shareholders. This will move the company from talking about the potential of its projects to demonstrating that we can execute and generate gold. Maddens is unquestionably our first priority, followed by Brothers, where the recent coarse gold discoveries and planned alluvial trial processing provide another potentially exciting operational opportunity. The programme at Salt Bush also has the potential to provide an important catalyst.”
He continued: "At the same time, Lolworth, Blue Mountain and Creswick continue to provide ECR with additional exposure to future growth. Our focus is to deploy our own capital where we believe it can have the greatest impact while continuing to progress the wider portfolio intelligently. Looking into 2027, the theme is straightforward: continued execution, production and building cashflow. Achieving production during the fourth quarter is expected to provide the platform from which we intend to deliver on that strategy."
View from Vox
It’s good to see ECR moving ever closer to production, with processing due to commence this month. This development has been eagerly anticipated by the market for some time, and will mark a step change in the way ECR operates. The resulting cashflow will render the company much more independent of the vagaries of the mining markets, and should result in move manoeuvrability too. There are a lot of projects on the go at the moment, but they are all moving forward, to the point that this time next year ECR is likely to be a company transformed.