ECR Minerals (LSE:ECR) has announced further progress at its Maddens Gold Project in Queensland as the company moves from exploration into the early stages of gold production. Development activities are continuing at the underground Maddens mine, while preparations are also advancing for planned alluvial mining at the Brothers Mining Lease. Existing infrastructure, growing ore stockpiles and planned processing upgrades are expected to support this transition.
Underground Development Reaches Key Milestone
Work at the Maddens underground operation has reached an important stage, with development ore now being extracted and stockpiled on the run-of-mine pad ahead of processing. The company also reported intersecting a new mineralised quartz vein containing visible gold, providing additional encouragement for the project’s exploration potential.
A recently completed LiDAR survey has further improved the geological understanding of the area and indicates that the mineralised system may extend towards the historic Sisters Mine, creating additional exploration opportunities across the wider project.
Brothers Project and Processing Upgrades Progress
At the nearby Brothers Mining Lease, ECR has transferred equipment and personnel from its Raglan operations as preparations continue for trial alluvial mining. Ongoing prospecting has produced encouraging results, supporting both the planned alluvial operation and the identification of additional hard-rock exploration targets.
To enhance future gold recovery, the company is preparing to install a Knelson gravity concentrator, which is expected to improve processing efficiency once development ore begins moving through the plant.
Multiple Development Activities Planned for the Third Quarter
During the third quarter of 2026, ECR intends to begin the next phase of underground decline development at Maddens, commission the new gravity concentrator, start processing development ore and launch trial alluvial mining at Brothers. Together, these initiatives represent a significant step towards establishing both underground and alluvial gold production, supporting the company’s ambition to become a growing gold producer in North Queensland.
Although ECR remains pre-revenue and continues to report operating losses and cash outflows, the company maintains a debt-free balance sheet while reducing cash burn compared with earlier periods. Despite weaker technical indicators, management believes the combination of mine development, processing upgrades and continued exploration provides a foundation for future growth.
About ECR Minerals
ECR Minerals plc is an Australian-focused gold exploration and development company listed on AIM. The company holds a 50% interest in the Maddens Gold Project in Queensland, which includes the historic Maddens and Brothers mining operations, seven mining leases and existing processing infrastructure capable of supporting future production.
The group’s strategy is to develop multiple gold production streams by combining underground mining at Maddens with planned alluvial operations at Brothers. Using established infrastructure, historical mining records and modern exploration techniques, ECR aims to unlock additional resources while building a scalable gold production business in North Queensland.
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