ECR Minerals (LSE:ECR) said decline development has started at the Maddens Underground Mine in North Queensland, with the company targeting the start of gold production during the fourth quarter of 2026.
ECR holds a 50% interest in the Maddens hard-rock mining project, which forms part of the wider Maddens Flat Group of Mines.
Development of the underground decline is taking place alongside enabling works and upgrades to the mine’s ventilation infrastructure.
Processing Plant Refurbishment Underway
ECR is also progressing refurbishment of the processing plant, including the installation of a 20-inch Knelson concentrator.
The company expects initial processing of surface stockpiles to begin by late September 2026.
The work forms part of ECR’s plans to establish Maddens as a producing hard-rock gold operation. The timing of first underground gold production remains targeted for the fourth quarter.
ECR Maintains Australian Gold Portfolio
ECR Minerals is a London-listed exploration and development company with gold interests across Queensland, Victoria, South Australia and Western Australia.
Alongside its 50% interest in the Maddens Flat Group of Mines, the company’s portfolio includes interests in the Salt Bush shallow open-cut project and the Tuckanarra exploration project.
ECR also owns the Bailieston, Creswick and Tambo gold projects in Victoria and holds additional alluvial and exploration licences in Queensland.
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