http://www.proactiveinvestors.com.au Proactiveinvestors RSS feed en Mon, 24 Jul 2017 14:56:14 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Echo Resources Ltd’s drilling enhances potential of Orelia gold deposit ]]> http://www.proactiveinvestors.com.au/companies/news/180948/echo-resources-ltds-drilling-enhances-potential-of-orelia-gold-deposit-180948.html Echo Resources Ltd (ASX:EAR) has intersected further significant gold zones from the Orelia gold deposit in the Yandal greenstone belt of Western Australia.

Echo controls 1,600 square kilometres of the highly prospective Yandal belt with brownfields and greenfields targets in two distinct districts.

The bankable feasibility study on the Julius gold deposit delivered an initial ore reserve of 63,965 recoverable gold ounces at a cash cost of A$832 per ounce, delivering an EBITDA of $41mln.

Echo’s activities are now focused on extending the existing resource at Julius, as well as drilling out a number of high-priority targets including Orelia and the broader Empire District.

The latest reverse circulation drilling results have defined and confirmed the continuity of extensive gold mineralisation over more than 240 metres of strike at the base of the Orelia open pit.

Drilling at the Orelia gold deposit has concluded with assays from the last 14 holes returning significant results including:

- 48 metres at 2.46 g/t gold from 49 metres (including 5 metres at 10.78 g/t gold;
- 38 metres at 2.43 g/t gold from 55 metres; and
- 6 metres at 14.28 g/t gold from 30 metres.

Based on the drilling results and the increased understanding of the geometry of the high grade zones, the potential to build a substantial gold resource is apparent.

The Orelia, Calista and Cumberland gold zones are now developing into a large mineralised gold system.

Echo’s shares were last trading 13% higher intra-day on Monday, at $0.13.

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Mon, 17 Jul 2017 12:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/180948/echo-resources-ltds-drilling-enhances-potential-of-orelia-gold-deposit-180948.html
<![CDATA[News - Echo Resources continues to make progress in the Yandal gold belt ]]> http://www.proactiveinvestors.com.au/companies/news/178223/echo-resources-continues-to-make-progress-in-the-yandal-gold-belt-178223.html Echo Resources (ASX:EAR) is continuing to receive significant gold intersections from drilling at the Empire District in the Yandal gold belt of Western Australia.

These latest results, from the Wimbledon Prospect, have identified mineralisation over at least 280 metres of strike.

Significant intersections to date from Wimbledon include:

- 28 metres at 4.47 g/t gold from 24 metres;
- 32 metres at 3.79 g/t gold from 20 metres; and
- 32 metres at 2.68 g/t gold from 32 metres.

The results from Wimbledon have highlighted the potential for another open pit mine within Echo’s large prospective landholding.

Further drilling is required to map out the extent of the system along strike and at depth and plans have already been made for a follow-up, deeper reverse circulation drill program.

Echo’s activities in the Yandal gold belt are focused on extending the existing resource at Julius, as well as drilling out a number of high-priority targets including Orelia and the broader Empire District.

The bankable feasibility study on the Julius gold deposit delivered an initial ore reserve of 63,965 recoverable gold ounces at a cash cost of A$832 per ounce, delivering an EBITDA of $41 million.

Echo raised $3.2 million during the March 2017 quarter to fund its exploration program via the placement of shares to institutional and sophisticated investors at $0.16 per share.

Interestingly, the company now owns the 2 million tonnes per annum Bronzewing Gold Processing Hub, following a merger with Metaliko Resources (ASX:MKO) earlier this year.

Completion of the merger has resulted in the combination of over 1,600 square kilometres of underexplored holdings, containing circa 950,000 ounces of gold in in the Yandal gold belt.

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Wed, 24 May 2017 10:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/178223/echo-resources-continues-to-make-progress-in-the-yandal-gold-belt-178223.html
<![CDATA[News - Echo Resources in an ASX trading halt ]]> http://www.proactiveinvestors.com.au/companies/news/172062/echo-resources-in-an-asx-trading-halt-172062.html The company is pending details regarding a capital raising.

The halt will remain in place until the opening of trade on Friday, 27th January 2017, or earlier if an announcement is made to the market.

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Tue, 24 Jan 2017 10:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/172062/echo-resources-in-an-asx-trading-halt-172062.html
<![CDATA[News - Echo Resources strengthens gold portfolio via Metaliko Resources takeover ]]> http://www.proactiveinvestors.com.au/companies/news/171440/echo-resources-strengthens-gold-portfolio-via-metaliko-resources-takeover-171440.html Echo will now send compulsory acquisition notices to acquire all remaining Metaliko shares not accepted in the takeover bid in accordance with the Corporations Act.

Upon completion of this process, Metaliko will become a wholly owned subsidiary of Echo.

The takeover is expected to deliver significant benefits to Echo as Metaliko owns the 2 million tonnes per annum Bronzewing processing facility (within Metaliko’s Yandal Gold Project).

The Yandal Gold Project is located in the North Eastern Goldfields of Western Australia.

Echo can combine this project with its Julius Gold Deposit containing over 200,000 gold ounces in the Yandal belt, one of Australia’s most prolific gold belts.

A scoping study completed in June 2016 for Julius (at a price of A$1,600 for an ounce of gold) delivered an EBITDA of $47 million within a life of mine of 2 years.

Combining the established high quality mineral resources at Julius with the Bronzewing processing facility can provide a clear and low-cost development pathway to production.

Metaliko shares will be suspended from trading on the ASX and delisted in the coming weeks in accordance with the ASX Listing Rules.

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Wed, 11 Jan 2017 13:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/171440/echo-resources-strengthens-gold-portfolio-via-metaliko-resources-takeover-171440.html
<![CDATA[News - Echo Resources completes major milestone at Julius gold project ]]> http://www.proactiveinvestors.com.au/companies/news/171234/echo-resources-completes-major-milestone-at-julius-gold-project-171234.html Granting of the mining lease follows the completion of various requirements including the signing of the Land Access Native Title Agreement and State Deed with an aboriginal corporation.

The Julius project is situated in the Yandal greenstone belt of the Eastern Goldfields, one of Australia’s most bountiful gold regions.

It hosts a total JORC resource of 5.2 million tonnes grading 2.0 g/t gold for 335,008 ounces of gold.

A scoping study projected a positive cash flow of $47 million by mining a 68,740 ounce resource for 2 years with upfront capital expenditure of under $3 million.

Echo has recently submitted the Julius mining proposal, mine closure plan and clearing permit to the state authorities and anticipates receipt of approvals this quarter.

In addition, the Julius bankable feasibility study is nearing completion and expected to be available for release in the coming weeks.

Echo shares are trading up 150% over the past 12 months currently priced at $0.20.

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Fri, 06 Jan 2017 09:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/171234/echo-resources-completes-major-milestone-at-julius-gold-project-171234.html
<![CDATA[News - Echo Resources Ltd to divulge material transaction ]]> http://www.proactiveinvestors.com.au/companies/news/166567/echo-resources-ltd-to-divulge-material-transaction-71245.html Echo Resources Ltd (ASX:EAR) has been granted a trading halt by the ASX this morning, pending details of a material transaction.

The halt will remain in place until the opening of trade on Friday 30th September 2016, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 28 Sep 2016 09:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/166567/echo-resources-ltd-to-divulge-material-transaction-71245.html
<![CDATA[News - Echo Resources Ltd achieves another milestone at Julius Gold Project ]]> http://www.proactiveinvestors.com.au/companies/news/165474/echo-resources-ltd-achieves-another-milestone-at-julius-gold-project-70464.html Echo Resources Ltd (ASX:EAR) has received standout recoveries ranging from 96.7% to 99.8% gold from a metallurgical test work program at the Julius Project in Western Australia.

These results reinforce the recently completed scoping study for Julius which projected positive cash flow of $47 million over 2 years.

The Julius project is situated in the Yandal greenstone belt of the Eastern Goldfields, one of Australia’s most bountiful gold regions.

The region has produced many multi-million ounce gold deposits, including Bronzewing (4 million ounces), Jundee (5 million ounces) and Darlot (3 million ounces).

The tests at Julius were done via a combination of gravity and cyanide leach processes to measure gold recoveries and were conducted as part of a bankable feasibility study.

The results demonstrate outstanding gold recoveries, as high as 99.8% from the lower oxide zone.

In addition, results have shown a high proportion of gold (77% of the 99.8%) is recoverable by a gravity process.

A high proportion of gold recoverable by a gravity process reduces the burden on the carbon in leach (CIL), elution and carbon reactivation circuits, thereby lowering operating costs substantially.

The new metallurgical results are expected to provide further support for the bankable feasibility study due for completion late in 2016.

Echo shares continue to trade strongly, up 194% year to date, currently priced at $0.235.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Tue, 16 Aug 2016 14:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/165474/echo-resources-ltd-achieves-another-milestone-at-julius-gold-project-70464.html
<![CDATA[News - Echo Resources Ltd lifts holdings in famed Yandal gold belt ]]> http://www.proactiveinvestors.com.au/companies/news/153683/echo-resources-ltd-lifts-holdings-in-famed-yandal-gold-belt--69690.html Echo Resources Ltd (ASX:EAR) has applied for 128 square kilometres of highly prospective ground contiguous to its flagship Julius gold deposit north of Kalgoorlie in Western Australia.

The Julius gold deposit is situated in the Yandal greenstone belt in the Eastern Goldfields, one of Australia’s most prolific gold regions.

The Yandal region has produced many multi-million ounce gold deposits, including Bronzewing (4 million ounces), Jundee (5 million ounces) and Darlot (3 million ounces).

The new acquisition comes at an opportune time for echo since a recent scoping study for Julius has projected a positive cash flow of $47 million by mining 68,740 ounces of gold for 2 years.

All in sustaining costs are estimated at $921 for an ounce of gold.

The new tenement has created a large contiguous landholding which complements existing tenements and provides Echo with over 850 square kilometres of prime exploration ground.

A Feasibility Study is already underway that could increase the resource base, which is open along strike and at depth.

The company is well funded after raising $3.23 million in May from an oversubscribed share placement to institutional and sophisticated investors.

Last week, Simon Coxhell was appointed as CEO of Echo Resources. He was the executive technical director of Dubber Corp Ltd (ASX:DUB) until 2015.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 08 Jul 2016 12:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/153683/echo-resources-ltd-lifts-holdings-in-famed-yandal-gold-belt--69690.html
<![CDATA[News - Echo Resources Ltd banks on toll treatment of Julius gold in WA ]]> http://www.proactiveinvestors.com.au/companies/news/153682/echo-resources-ltd-banks-on-toll-treatment-of-julius-gold-in-wa-69329.html Echo Resources Ltd (ASX:EAR) continues to reap the benefits of a near surface gold resource north of Kalgoorlie that could be mined and trucked to a plant near to its Julius Gold Project with mininal cash outlay and maximum cash flows.

A scoping study projected a positive cash flow of $47 million by mining a 68,740 ounce resource for 2 years with upfront capital expenditure of under $3 million.

Providing confidence, 95% of the in-pit gold resources at 100% owned Julius, 70 kilometres east of Wiluna are in the JORC Indicated category. All in sustaining costs are estimated at $921 an ounce.

Three processing plants are located within 100 kilometres; including Wiluna to the east, Jundee to the north and Bronzewing to the south of Julius where ore could be trucked from - although there are no agreements in place at present.

A Feasibility Study is already underway that could increase the resource by testing at depth as well as evaluating the potential for a regional resource base around Julius.

Hence, the Julius gold mineralisation is open along strike and at depth.

The company is debt free and has a cash balance of $3.2 million after raising $3.23 million from an oversubscribed share placement last month to institutional and sophisticated investors.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 21 Jun 2016 12:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/153682/echo-resources-ltd-banks-on-toll-treatment-of-julius-gold-in-wa-69329.html
<![CDATA[News - Echo Resources Ltd high grade gold results paves way for open pit mine ]]> http://www.proactiveinvestors.com.au/companies/news/153681/echo-resources-ltd-high-grade-gold-results-paves-way-for-open-pit-mine-68886.html Echo Resources Ltd (ASX:EAR) has received high grade gold results from its April drilling program at the Julius Gold Project in Western Australia’s Yandal Province.

The latest results from 26 holes indicate a high grade gold tenure and good widths with highlights including 24 metres at 3.46 g/t gold from 32 metres and 9 metres at 16.95 g/t gold from 30 metres.

Echo recently announced its initial Resource Estimate at Julius measuring 4.16 million tonnes at 1.69 g/t gold for 226,257 ounces of gold. 

The recent drill results should enable the resource to grow significantly as there are a large number of significant gold intersections at depth and along strike which are not fully closed off.  

Echo is now conducting a scoping study to assess the economics of a Stage One open pit at the Julius project.

There are toll treatment options that could be available for Echo with preliminary metallurgical test-work suggesting good gold recoveries via conventional CIP/CIL processing.

In February, Echo completed an aircore drilling program at its Zaphod Prospect in the Yandal Gold Belt which provided very high gold assays in outcrop and trench sampling.

Recently, Echo placed 19 million shares at $0.17 per share to institutional and sophisticated investors, raising $3.23 million. The issue was heavily oversubscribed due to the company’s success at the Julius Gold Project.

The results are further validation of the quality of Echo’s exploration assets, particularly the Julius project.

Echo held cash of $3.5 million in May 2016.

Shares in Echo are currently trading at $0.20, up from $0.07 on February 9, 2016.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 30 May 2016 10:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/153681/echo-resources-ltd-high-grade-gold-results-paves-way-for-open-pit-mine-68886.html
<![CDATA[News - Echo Resources Ltd gets ready to raise ]]> http://www.proactiveinvestors.com.au/companies/news/153680/echo-resources-ltd-gets-ready-to-raise-68660.html Echo Resources Ltd (ASX:EAR) has recently been having some gold exploration success at the Julius project, with the company now heading to market with a capital raising, and the ASX has granted a trading halt to prepare.

Shares in the company have almost tripled since February.

The halt will remain in place until the opening of trade on Thursday 19th May 2016, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 17 May 2016 15:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/153680/echo-resources-ltd-gets-ready-to-raise-68660.html
<![CDATA[News - Echo Resources drills 13.92 g/t gold from maiden program at Zaphod ]]> http://www.proactiveinvestors.com.au/companies/news/153679/echo-resources-drills-1392-gt-gold-from-maiden-program-at-zaphod-68244.html Echo Resources Ltd (ASX:EAR) hit good grades of gold including  2 metres at 13.92 g/t from 49 metres depth from the recently completed first round of drilling at the Zaphod gold prospect in Western Australia.

The Zaphod gold prospect is located 80 kilometres south of Echo’s Julius Gold Project and 10 kilometres south of the Bronzewing Gold Plant in the Yandal Gold Belt of Western Australia.

In February, rock chip samples collected over 100 metres of strike returned a number of high-grade gold results, including 118 g/t gold and 285 g/t gold. This provided a compelling target for further drilling.

The first pass aircore drilling program totalling 13 holes for 635 metres was completed this month to test the prospect to approximately 50 metres below the high grade outcrop zone.

The drilling tested approximately 200 metres of strike and extended to the north where an interpreted paleochannel masks the surface geochemical response.

Other significant results from the drill program include 4 metres at 2.42 g/t gold from 23 metres and 1 metre at 11.86 g/t gold from 14 metres.

Additional drilling at depth beneath the significant intersections is planned.

The consistency and high grade nature of the mineralised zone coupled to its structural location at the margin suggests additional potential.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Fri, 22 Apr 2016 17:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/153679/echo-resources-drills-1392-gt-gold-from-maiden-program-at-zaphod-68244.html
<![CDATA[News - Echo Resources worth an extra 63% says mystery bidder ]]> http://www.proactiveinvestors.com.au/companies/news/153678/echo-resources-worth-an-extra-63-says-mystery-bidder-64246.html Echo Resources (ASX:EAR) has received an indicative, non-binding and conditional proposal for an A$0.15 in cash per share takeover that values the company at about $20.9 million.

This represents a 63% premium to EAR's last traded share price of $0.092.

The company plans to engage in discussions regarding the proposal, which is conditional and subject to due diligence.

It advised shareholders to take no action until the board had evaluated the proposal and any resulting takeover offer.

Echo has engaged Squire Patton Boggs as legal advisor in relation to the Proposal.

Adding interest, AXF Resources earlier this month acquired a 16.49% interest in the company for $3,447,295.35, or $0.15 per share, from Kesli Chemicals Pty Ltd.

Echo is focussed on the exploration activities in the Yandal Gold Province, Western Australi.

During the June 2015 Quarter, drilling at the Julius Gold Discovery returned:

- 24 metres at 4 grams per tonne gold from 80 metres including 4 metres at 20.5g/t gold;
- 20 metres at 2.7g/t gold from 64 metres including 4 metres at 7.1g/t gold; and
- 16 metres at 4g/t gold from 180 metres including 4 metres at 13.1g/t gold.

The company had $1.55 million in cash as at 30th June 2015.

Echo was exploring for gold, copper and nickel deposits in Western Australia and Queensland and currently owned the Julius gold discovery in the Yandal gold province.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 28 Aug 2015 11:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/153678/echo-resources-worth-an-extra-63-says-mystery-bidder-64246.html
<![CDATA[News - Echo Resources intersects further high grade gold in Western Australia ]]> http://www.proactiveinvestors.com.au/companies/news/153677/echo-resources-intersects-further-high-grade-gold-in-western-australia-60557.html Echo Resources (ASX:EAR) has intersected further high grade gold at the Julius Gold Discovery in Western Australia’s Yandal Province.

This returned 12 metres at 10.1 grams per tonne gold from 44 metres with a peak assay of 4 metres at 27.1g/t gold.

Follow-up drilling has been undertaken to delineate near-surface oxide, transitional and fresh rock-hosted gold mineralization at Julius in preparation for a JORC 2012 Resource estimate.

Soil sampling and drilling programs are planned at the nearby Gnaeus Prospect, where a new gold-in-soil anomaly about 1,000 metres long has been identified by Echo.

Gnaeus is located 900 metres east of Julius, at the intersection of faults which may link up with the structures hosting bedrock gold lodes under cover at Julius.

In addition, the Gnaeus gold anomaly is much stronger (peak 168ppb ggold) than the gold-in-soil response over buried bedrock gold mineralisation at Julius.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 06 Feb 2015 16:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/153677/echo-resources-intersects-further-high-grade-gold-in-western-australia-60557.html
<![CDATA[News - Echo Resources to drill gold-in-soil anomaly in Western Australia ]]> http://www.proactiveinvestors.com.au/companies/news/153676/echo-resources-to-drill-gold-in-soil-anomaly-in-western-australia-60356.html Echo Resources (ASX:EAR) has identified a strong gold-in-soil anomaly the Gnaeus Prospect near its wholly-owned Julius Gold Discovery in Western Australia.

The 1,000-metre long anomaly is significantly stronger than the gold-in-soil response over buried gold mineralisation at Julius.

Julius and Gnaeus are located within the Yandal Province, one of Australia’s largest goldfields, hosting several multi-million ounce gold deposits, including those at Northern Star Resources’ (ASX:NST) Jundee and Gold Fields’ (JSE:GFI, NYSE:GFI) Darlot.

Eight samples from the central portion of the anomaly have returned more than 50ppb gold with a peak of 168ppb.

By comparison, the gold-in-soil response over buried bedrock gold mineralisation at Julius is less than 2ppb.

The company plans to carry out drilling to follow-up on this target, which may mark the location of a new gold mineralised system.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 28 Jan 2015 15:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/153676/echo-resources-to-drill-gold-in-soil-anomaly-in-western-australia-60356.html
<![CDATA[News - Echo Resources to convene a general meeting under section 249D notice ]]> http://www.proactiveinvestors.com.au/companies/news/153675/echo-resources-to-convene-a-general-meeting-under-section-249d-notice-59925.html Echo Resources (ASX:EAR) will convene a general meeting to consider resolutions for the removal of all its current directors in response to a request by shareholder Kesli Chemicals Pty Ltd under a section 249D notice of the Corporations Act 2001.

In addition, Kesli is calling for the appointment of Michael Ruane, Peter Hunt and Robin Dean as directors of the company. The three are also directors of Intermin Resources (ASX:IRC) and Metaliko Resources (ASX:MKO).

Indirect interests associated with Ruane hold a 15.44% interest in Echo.

Echo’s directors, which hold 18.8% of the company, do not support the resolutions proposed by Kesli.

Metaliko owns the closed Bronzewing Mine located about 70 kilometres south of Echo’s Julius gold discovery in Western Australia.

Ruane had previously contacted Echo about a potential joint venture at Bronzewing.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 07 Jan 2015 08:40:00 +1100 http://www.proactiveinvestors.com.au/companies/news/153675/echo-resources-to-convene-a-general-meeting-under-section-249d-notice-59925.html
<![CDATA[News - Echo Resources granted trading halt ]]> http://www.proactiveinvestors.com.au/companies/news/153674/echo-resources-granted-trading-halt-59538.html Echo Resources (ASX:EAR) has been granted a trading halt by the ASX pending an announcement by the company in relation to its subsidiary

The company is focussed on the Yandal Gold Province in Western Australia.

The halt will last until the opening of trade on Monday 15th December 2014, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 11 Dec 2014 11:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/153674/echo-resources-granted-trading-halt-59538.html
<![CDATA[News - Echo Resources raises funds for gold exploration in Western Australia ]]> http://www.proactiveinvestors.com.au/companies/news/153673/echo-resources-raises-funds-for-gold-exploration-in-western-australia-57508.html Echo Resources (ASX:EAR) will raise $700,040 via a placement of 6,364,000 fully paid ordinary shares at $0.11 per share to sophisticated and professional investors.

Of note, the raising was struck at a 10% premium to the share price the previous trading day.

Echo is exploring a large gold mineralised system in the Yandal Gold Province, Western Australia where it has made a very gold discovery named Julius.

Julius is located 750km northeast of Perth, in the Eastern Goldfields. 

Julius is part of the prolific Yandal Gold Province with more than 13 million ounces of gold found with operating gold mines at Jundee (Northern Star) and Darlot (Gold Fields).

Recent drilling has seen very useful results including these intercepts: 19.1m at 8.1 g/t Au from 49m, 20m at 9.9 g/t Au from 38m and 5m at 21.6 g/t Au from 235m.

There was also a bonanza hit of 11m at 40.2 grams per tonne gold.  So it is not without some potential.

 

 

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Thu, 11 Sep 2014 11:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/153673/echo-resources-raises-funds-for-gold-exploration-in-western-australia-57508.html
<![CDATA[News - Echo Resources granted pre-open status ]]> http://www.proactiveinvestors.com.au/companies/news/153672/echo-resources-granted-pre-open-status-57444.html Echo Resources (ASX:EAR) is focused on exploration in the Yandal Gold Province of Western Australia, with the company now heading to market with a capital raising.

The ASX has granted the company a trading halt, with its shares placed in pre-open.

The Yandal Province is an established gold province with good infrastructure, and hosts several multi-million ounce gold deposits.

Earlier in the month Echo outlined some very good recovery results from the Julius Gold Discovery.

This included combined gravity separation and cyanide leach testing on a composite metallurgical sample returning a very high total gold recovery of
98.6%.

33% of the total gold content was extracted via gravity separation.

The halt will remain in place until the opening of trade on Thursday 11th September 2014, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 09 Sep 2014 12:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/153672/echo-resources-granted-pre-open-status-57444.html
<![CDATA[News - Echo Resources hits more broad high grade gold at Julius ]]> http://www.proactiveinvestors.com.au/companies/news/153671/echo-resources-hits-more-broad-high-grade-gold-at-julius-55714.html Echo Resources' (ASX:EAR) drilling at its Julius Gold Discovery in Western Australia has returned shallow, broad, high grade gold intercepts.

These included 4 metres at 30.9 g/t gold from 40 metres, within 20 metres at 7.1 g/t gold from 24 metres; and 4 metres at 13.1 g/t gold from 52 metres, within 12 metres at 4.6 g/t gold from 44 metres.

This follows the April discoveries of 4 metres at 59.7g/t gold from 276 metres, within 7 metres at 35g/t gold; and the bonanza 1 metre at 102g/t gold, 1 metre at 80.5g/t gold.

Julius is located in the Yandal Gold Province, 750 kilometres northeast of Perth.

The Yandal Province hosts several multi-million ounce gold deposits, including Northern Star Resources' (ASX:NST) Jundee deposit.

The gold lodes at Julius are hosted by weathered and fresh, mafic and ultramafic rocks in structural contact with a
mineralized granodiorite body along the Julius Shear Zone.

In addition to locating near-surface gold lodes, the drilling program tested for extensions to deeper gold lodes intersected by previous step-out holes which returned intercepts of 7 metres at 35 g/t gold and 5 metres at 21.6 g/t gold.

Assays for the remaining 11 drill holes are pending and planning for follow-up drilling at Julius is at an advanced stage.

Given Echo's continued impressive gold grades, its market cap of $12 million offers potential upside.

 

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Thu, 19 Jun 2014 12:40:00 +1000 http://www.proactiveinvestors.com.au/companies/news/153671/echo-resources-hits-more-broad-high-grade-gold-at-julius-55714.html
<![CDATA[News - Echo Resources comes up trumps with intriguing gold hits in WA ]]> http://www.proactiveinvestors.com.au/companies/news/153670/echo-resources-comes-up-trumps-with-intriguing-gold-hits-in-wa-54532.html Echo Resources (ASX: EAR) should trade higher today following some very impressive gold assays from its Julius project in Western Australia.

Results included: 4 metres at 59.7g/t gold from 276 metres, within 7 metres at 35g/t; and 5 metres at 21.6 g/t gold from 48 metres, within 20 metres at 9.8g/t gold.

Assays included even higher grade sections of: 1 metre at 102g/t gold, 1 metre at 80.5g/t gold; 1 metre at 64.6g/t gold; and 1 metre at 45.6g/t gold, amongst others.

Julius is located in the Yandal Gold Province, 750 kilometres northeast of Perth.

The Yandal Province hosts several multimillion ounce gold deposits, including Newmont's (NYSE: NEM) Jundee gold mine.

Echo's latest results are very exciting because they confirm the presence of exceptional gold grades in near-surface positions, as well as at depth.

There is potential to locate additional gold mineralized structures, and follow-up drilling is already underway to test for possible extensions to high-grade gold lodes at Julius.

Echo is capitalised at around $14 million and appears to be confirming quite a substantial gold discovery.

 

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Mon, 28 Apr 2014 10:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/153670/echo-resources-comes-up-trumps-with-intriguing-gold-hits-in-wa-54532.html
<![CDATA[News - Echo Resources targets extensions to high grade gold mineralisation at Julius ]]> http://www.proactiveinvestors.com.au/companies/news/153669/echo-resources-targets-extensions-to-high-grade-gold-mineralisation-at-julius-54257.html Echo Resources (ASX: EAR) will use a reverse circulation drilling program to test for potential extensions to high grade gold mineralisation at its Julius Gold Discovery, located in Western Australia’s Yandal Gold Province.

This was located in step-out drill holes collared 300 metres west of the main drilling area at Julius that returned intercepts of 16 metres at 19.8 grams per tonne (g/t) gold from 276 metres including 4 metres at 75.6g/t gold and 5 metres at 21.6g/t gold from 235 metres including 3 metres at 35g/t gold.

The new drilling program will also test near-surface gold lodes in central and north-eastern parts of the mineralised system.

Results from these drilling over these lodes include:

-    19.1 metres at 8.1g/t gold from 49 metres, including 5 metres at 21.7g/t gold;
-    44 metres at 3.8g/t gold from 24 metres, including 4 metres at 29g/t gold; and
-    24 metres at 5.3g/t gold from 44 metres, including 4 metres at 22.6g/t gold.

The Julius discovery is in the prolific Yandal Gold Province in Western Australia, which is host to several multi-million ounce gold deposits including Newmont's Jundee project.

It remains open in all directions.

 

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Thu, 10 Apr 2014 15:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/153669/echo-resources-targets-extensions-to-high-grade-gold-mineralisation-at-julius-54257.html
<![CDATA[News - Echo Resources continues to hit bonanza gold grades at Julius discovery ]]> http://www.proactiveinvestors.com.au/companies/news/153668/echo-resources-continues-to-hit-bonanza-gold-grades-at-julius-discovery-52883.html Echo Resources (ASX:EAR) is set to resonate significantly with investors today as the latest reverse circulation drilling returns up to 75 grams per tonne gold at Julius Gold Discovery in Western Australia.

The composite sample intercepts include 4 metres at 75.6 g/t gold from 276 metres within 16 metres at 19.8 g/t gold from 276 metres; 4 metres 29.0 g/t from 48 metres within 44 metres at 3.8 g/t from 24 metres and 4 metres at 22.6 g/t gold from 52 metres within 24 metres at 5.3 g/t from 44 metres.

The latest results add to the prospectivity of Echo's Julius discovery, where it had last November intersected up to 90g/t gold in step-out drilling and  place it firmly on the path to achieving its goal of discovering and developing a more than 3 million ounces of gold project.

The Julius discovery is in the prolific Yandal Gold Province in Western Australia, which is host to several multi-million ounce gold deposits including Newmont's Jundee project.

The Julius discovery remains open in all directions.

The company will do follow-up drilling programs to test potential extensions to the high-grade gold mineralisation and also to locate and define near-surface gold lodes in March 2014.



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Mon, 17 Feb 2014 13:40:00 +1100 http://www.proactiveinvestors.com.au/companies/news/153668/echo-resources-continues-to-hit-bonanza-gold-grades-at-julius-discovery-52883.html
<![CDATA[News - Echo Resources to reveal gold drilling results from the Yandal Province ]]> http://www.proactiveinvestors.com.au/companies/news/153667/echo-resources-to-reveal-gold-drilling-results-from-the-yandal-province-52751.html Echo Resources (ASX: EAR) is preparing to reveal new drilling results, with the ASX granting the company a trading halt today.

Echo's shares are in pre-open.

The company has recently been delivering some impressive gold drilling intersections from the Julius Gold Discovery in the Yandal Province of Western Australia, including 1 metre at 90g/t gold in late-November 2013.

Drilling has been ongoing at the Julius gold mineralised system, which remains open to the north, west, east and south.

The halt will remain in place until the opening of trade on Friday 14th February 2014, or earlier if an announcement is made to the market.

 

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Wed, 12 Feb 2014 15:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/153667/echo-resources-to-reveal-gold-drilling-results-from-the-yandal-province-52751.html
<![CDATA[News - Echo Resources hits 90g/t gold at Julius, between Newmont Mining's Jundee and Darlot ]]> http://www.proactiveinvestors.com.au/companies/news/153666/echo-resources-hits-90gt-gold-at-julius-between-newmont-minings-jundee-and-darlot-50688.html Echo Resources (ASX: EAR) has assayed 5 metres at 21.6 grams per tonne gold from 235 metres, with 1 metre at 90 grams per tonne, at its Julius gold discovery in Western Australia.

Julius is located in the Yandal Gold Province which hosts several multi-million ounce gold deposits, including Newmont Mining's (NYSE:NEM) Jundee and Darlot. 

The gold lodes at Julius are hosted by weathered and fresh ultramafic, mafic and granodioritic rocks.

A second zone of gold mineralisation was intersected lower in the Julius shear zone and returned an intercept of 7 metres at 1.8 grams per tonne from 270 metres.

The mineralised system remains open to the north, west, east and south, with further drilling underway to locate additional gold lodes.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 29 Nov 2013 12:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/153666/echo-resources-hits-90gt-gold-at-julius-between-newmont-minings-jundee-and-darlot-50688.html
<![CDATA[News - Echo Resources to test extensions of high grade gold mineralisation at WA project ]]> http://www.proactiveinvestors.com.au/companies/news/153665/echo-resources-to-test-extensions-of-high-grade-gold-mineralisation-at-wa-project-50292.html Echo Resources (ASX: EAR) has started reverse circulation drilling to test for potential extensions to high grade gold mineralisation of 9 metres at 12 grams per tonne gold from 232 metres at the Julius Gold Discovery in Western Australia.

The drill program will also test near-surface gold lodes in central and north-eastern parts of the mineralised system.

Julius is located in the Yandal Province, which hosts several multimillion ounce gold deposits, including Newmont Mining ‘s (NYSE: NEM) Jundee Gold Mine and Gold Fields’ (JSE: GFI) Darlot Gold Mine.

The area is also blessed with abundant infrastructure including gold processing plants, well-maintained roads, the Goldfields Gas pipeline and groundwater resources.

 

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Mon, 18 Nov 2013 17:40:00 +1100 http://www.proactiveinvestors.com.au/companies/news/153665/echo-resources-to-test-extensions-of-high-grade-gold-mineralisation-at-wa-project-50292.html
<![CDATA[News - Echo Resources intersects 20 metres at 3.2g/t gold at Julius, Yandal province ]]> http://www.proactiveinvestors.com.au/companies/news/153664/echo-resources-intersects-20-metres-at-32gt-gold-at-julius-yandal-province-49133.html Echo Resources (ASX: EAR) has made further significant gold intercepts from drilling at its Julius gold discovery, in the Yandal gold province of Western Australia.

Notable intercepts included 20 metres at 3.2 grams per tonne gold from 50 metres, and 5 metres at 4.8 grams per tonne gold from 184 metres, end-of-hole.

The Yandal Province hosts several multi-million ounce gold deposits, including Newmont Mining's (NYSE:NEM) Jundee and Darlot.
 
The footprint of +1 gram per tonne gold mineralisation at Julius is about 800 metres by 850 metres based on drilling completed so far, and is open in all directions.

A follow-up reverse circulation and diamond core drilling program is scheduled to commence at Julius during November 2013 to test potential extensions to the high-grade mineralisation to date.

Julius is located in an infrastructure rich area, and is close to exploration and mining services, gold processing plants, well-maintained roads, the Goldfields Gas pipeline and groundwater resources.

 

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Wed, 16 Oct 2013 11:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/153664/echo-resources-intersects-20-metres-at-32gt-gold-at-julius-yandal-province-49133.html
<![CDATA[News - Echo Resources hits high grade gold at Julius in the Yandal Province ]]> http://www.proactiveinvestors.com.au/companies/news/153663/echo-resources-hits-high-grade-gold-at-julius-in-the-yandal-province-46192.html Echo Resources (ASX: EAR) has delivered some high grade gold intersections from the latest reverse circulation and diamond drilling program at the Julius Gold Discovery, located in the Yandal Province of Western Australia.

Highlights from step-out drilling include: 4 metres at 19.2g/t gold within 8 metres at 12.0g/t gold from 232 metres; and 4 metres at 8.1g/t gold within 16 metres at 3.3g/t gold from 76 metres.

Importantly - the results include the deepest high-grade intersection from Julius to date, which demonstrates potential at depth.

Assays have now been received from the first ten of the 24 holes drilled.

The importance of the results is that they intersect the high-grade gold mineralisation 300 metres west of the main drilling area, with the mineralisation interpreted to be the downplunge extension of the Julius gold system.

The Yandal Province hosts several multi-million ounce gold deposits, including those at Jundee and Darlot.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 31 Jul 2013 16:40:00 +1000 http://www.proactiveinvestors.com.au/companies/news/153663/echo-resources-hits-high-grade-gold-at-julius-in-the-yandal-province-46192.html
<![CDATA[News - Echo Resources drills again at high grade Julius Gold discovery in WA ]]> http://www.proactiveinvestors.com.au/companies/news/153662/echo-resources-drills-again-at-high-grade-julius-gold-discovery-in-wa-44103.html Echo Resources (ASX: EAR) is drilling again at the virgin Julius Gold Discovery in Western Australia with high hopes where previous drilling included an intercept of 11 metres at 40.2 g/t gold from 45 metres.

The project is located in the Yandal Gold Province, 750 kilometres northeast of Perth and is host to multi-million ounce gold deposits, including those at Newmont's Jundee and Barrick's Darlot.

Previous drilling at Julius also intercepted 3 metres at 86.5 g/t gold.  There was also peak assay of 151.5 g/t gold.

There is clear potential developing for the discovery of multiple gold mineralised positions at Julius.

Current drilling will test for extensions of the high-grade gold zones identified in the central parts of the mineralised system and new mineralised positions beneath shallow scout drilling northeast of Julius.

It will also test possible continuations of the Julius mineralised system down-dip to the northwest.

During the quarter, the Echo placed 5.45 million shares at $0.195 per share to sophisticated and institutional investors to raise $1.06 million before costs.

Echo has large corporate ambitions to find large gold deposits of greater than 3 million ounces at 3 g/t gold and  450 million pounds of copper a greater than 1.5% Cu equivalent and 90 million pounds of  nickel at greater than 5% Ni.


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Tue, 04 Jun 2013 13:50:00 +1000 http://www.proactiveinvestors.com.au/companies/news/153662/echo-resources-drills-again-at-high-grade-julius-gold-discovery-in-wa-44103.html
<![CDATA[News - Echo Resources discovers multiple high grade gold zones in Western Australia ]]> http://www.proactiveinvestors.com.au/companies/news/153661/echo-resources-discovers-multiple-high-grade-gold-zones-in-western-australia-41646.html Echo Resources (ASX: EAR) has multiple zones of high grade gold mineralisation at its Julius Gold Discovery in the Yandal Province, Western Australia.

Peak intercepts from the reverse circulation drilling carried out in January include 1 metre at 58.7 grams per tonne gold from 43 metres and 1 metre at 34.1g/t gold from 52 metres.

The gold zone containing the highest gold grade is considered to form part of a new potential high-grade gold shoot along a west-dipping ultramafic-granodiorite contact near the southern end of the main Julius drilling area.

Other notable intercepts include 7 metres at 6.2g/t gold from 36 metres, 4 metres at 5.9g/t gold from 56 metres and 2 metres at 8.6 g/t gold from 56 metres.

These results suggest that mineralisation at Julius is potentially suitable for open-cut mining.

Echo will this month restart diamond core and reverse circulation drilling programs to follow up on these results and test other high potential targets at Julius.

The company had last month raised $800,000 to fund this drilling program.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 05 Apr 2013 13:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/153661/echo-resources-discovers-multiple-high-grade-gold-zones-in-western-australia-41646.html
<![CDATA[News - Echo Resources funded to drill Julius Gold Discovery ]]> http://www.proactiveinvestors.com.au/companies/news/153660/echo-resources-funded-to-drill-julius-gold-discovery-40745.html Echo Resources (ASX: EAR) has raised $800,000 through a placement of 4.1 million shares at $0.195, with the new funds to advance exploration at the Julius Gold Discovery in central Western Australia.

Exploration at the project will include reverse circulation and diamond core drilling programs, which will follow-up on recent intercepts such as; 8 metres at 8.4g/t gold, including 4 metres at 11.6g/t gold.

Gold mineralisation at Julius has been confirmed over a strike length of at least 1.2 kilometres, and highlighting the potential for new discoveries the strike remains open to the west, north, east and south.

The project is located in the Yandal Gold Province, which is host to several multi-million ounce gold deposits, including those at Jundee, Mount McClure - Bronzewing and Darlot.

In regards to proximity, Julius is around 60 kilometres southeast of Jundee.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 13 Mar 2013 12:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/153660/echo-resources-funded-to-drill-julius-gold-discovery-40745.html
<![CDATA[News - Echo Resources to raise funds ]]> http://www.proactiveinvestors.com.au/companies/news/153659/echo-resources-to-raise-funds-40620.html Echo Resources (ASX: EAR) is preparing a capital raising announcement, with the ASX granting the company a trading halt this morning, and placed its shares in pre-open.

Earlier in the month the company delivered some high grade results from the Julius Gold Discovery, which is located in the in the Yandal Gold Province of Western Australia.

Highlights were; 8 metres at 8.4g/t gold, including 4 metres at 11.6g/t gold.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Monday 13th March 2013.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 11 Mar 2013 10:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/153659/echo-resources-to-raise-funds-40620.html
<![CDATA[News - Echo Resources amplifies high grade gold intercepts at Julius Gold discovery ]]> http://www.proactiveinvestors.com.au/companies/news/153658/echo-resources-amplifies-high-grade-gold-intercepts-at-julius-gold-discovery-40587.html Echo Resources (ASX:EAR) has confirmed high grade gold intercepts at Julius Gold discovery in Western Australia returning intercepts including 4 metres at 11.6 grams per tonne gold within 8 metres at 8.4g/t from 36 metres.

The Julius discovery is in the Yandal gold province, which hosts several multi-million ounce gold deposits, including those at Jundee, Mount McClure- Bronzewing and Darlot.

A total of 17 Reverse Circulation (RC) drill holes for 1,712 metres were completed at Julius during January 2013.

Gold mineralisation at Julius has been confirmed over a strike length of at least 1.2 kilometres and remains open to the west, north, east and south.

Planning for a substantial RC and diamond core drilling program to test for additional high-grade gold shoots at Julius is underway.

Assay results for a one-metre sample splits from the January 2013 drilling are expected to be received later this month.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 08 Mar 2013 16:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/153658/echo-resources-amplifies-high-grade-gold-intercepts-at-julius-gold-discovery-40587.html
<![CDATA[News - Echo Resources hits high notes with 41.9 g/t gold discovery at Julius ]]> http://www.proactiveinvestors.com.au/companies/news/153657/echo-resources-hits-high-notes-with-419-gt-gold-discovery-at-julius-38003.html Echo Resources (ASX:EAR) shares surged as it hit 41.9 grams per tonne gold over 12 metres at its Julius gold discovery in Western Australia.

It's share price was up 142%. Not surprising with strong widths and high grades encountered  from drilling.

A total of six reverse circulation drill holes for a total of 583 metres were completed during December last year.

The gold intercepts at Julius include 12 metres at 41.9 g/t gold from 44 metres, including 4 metres at 44.6 g/t gold from 48 metres and 4 metres at 55.9 g/t gold from 52 metres.

The gold lodes at Julius are hosted by weathered and fresh ultramafic rocks along a mineralised granodiorite contact about 60 kilometres southeast of Jundee.

Echo’s Managing Director Dr Ernst Kohler said,“Drilling within the main Julius system is targeting lodes where the gold mineralisation is concentrated into high grade shoots. The exceptional drilling intercept in ERC167 has confirmed that Julius contains significant widths of very high-grade gold mineralisation."

Kohler certainly knows how to lead successful exploration efforts. He spearheaded the discovery of the multi-million ounce Jundee Gold Mine, which is now owned by Newmont.

The Julius gold discovery is located in the prime Yandal Gold province, which hosts several multi-million ounce gold deposits, including those at Jundee, Mount McClure-Bronzewing and Darlot.

Drilling is scheduled to restart later this week.

Echo's key projects are in Western Australia, where it has gold and nickel tenements and in Central Queensland, where it has gold and copper projects. It's goal is the discovery and development of large gold, greater than 3 million ounces at 3g/t gold projects as well as copper greater than 450 million pounds projects.


 
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Thu, 10 Jan 2013 12:20:00 +1100 http://www.proactiveinvestors.com.au/companies/news/153657/echo-resources-hits-high-notes-with-419-gt-gold-discovery-at-julius-38003.html
<![CDATA[News - Echo Resources to deliver drilling assays ]]> http://www.proactiveinvestors.com.au/companies/news/153656/echo-resources-to-deliver-drilling-assays--37906.html Echo Resources (ASX: EAR) has news of drilling assays which it will soon release, with the company granted a trading halt by the ASX.

Exploration activities have been focused on assessing high potential targets in the Yandal Gold Province of Western Australia, which includes Echo’s Julius Gold Discovery.

The Yandal Province hosts several multimillion ounce gold deposits, including those at Jundee, Mt McClure-Bronzewing and Darlot.

Prior to the Christmas break Echo began reverse circulation drilling at the Julius Gold Discovery, where intercepts of 12 metres at 3.3 grams per tonne (g/t) gold from 30 metres, including 2 metres at 10.4g/t gold, have been reported.

The current program is aimed at locating and defining high grade gold shoots and improving Echo’s understanding of the geological structures controlling the gold mineralisation.

The halt will last until the earlier of an announcement being made available to the market, or the opening of trade on Wednesday 9 January 2013.


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Mon, 07 Jan 2013 18:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/153656/echo-resources-to-deliver-drilling-assays--37906.html
<![CDATA[News - Echo Resources identifies 11kms of gold anomalies at Yandal ]]> http://www.proactiveinvestors.com.au/companies/news/153655/echo-resources-identifies-11kms-of-gold-anomalies-at-yandal-35215.html Echo Resources (ASX: EAR) has used reconnaissance soil sampling to identify two separate gold-in-soil anomalies at the company's Yandal Project - which extend for over 11 kilometres.

First is a 5.5 kilometre long anomaly at the Marvin Prospect, with the second at the Magrathea Prospect - located 4.5 kilometres south of Marvin.

Although only early stages in the exploration plan, these prospects are located in a rich gold area adjacent to the Yandal Gold Province - which is one of Australia’s most significant gold mining districts.

Adding some interest, Marvin is located 3 kilometres west of open-cut workings at the Mt McClure-Bronzewing Gold Mine.

Both prospects are situated within a 290 square kilometre package of granted exploration licences and an exploration licence applications wholly owned by Echo - with little recorded exploration.

The Marvin peak values were 305ppb gold, with Magrathea 17ppb gold, defined using a +3ppb gold lower threshold.

The full extent of the Marvin and Magrathea anomalies remains to be tested, with further soil sampling programs to commence next week - which will help to define if the two anomalies join into a single gold-in-soil anomaly.

 

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Wed, 31 Oct 2012 14:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/153655/echo-resources-identifies-11kms-of-gold-anomalies-at-yandal-35215.html
<![CDATA[News - Echo Resources in a trading halt pending capital raising announcement ]]> http://www.proactiveinvestors.com.au/companies/news/153654/echo-resources-in-a-trading-halt-pending-capital-raising-announcement-16088.html Echo Resources (ASX: EAR) has been granted a trading halt by the ASX, pending a capital raising announcement, with the company's shares placed in pre-open.

Echo has not yet indicated where the potential new inflow of funds will be allocated, but last month the company announced a 3D geological assessment has identified a major gold conduit, known as the Bungara Worm, which trends through the company's tenements in the Yandal Province of Western Australia.

The Yandal Province hosts massive gold deposits including Newmont Mining’s (NYSE: NEM) Jundee Deposit containing 5.4 million ounces of gold, and Barrick Gold’s (NYSE: ABX) Darlot Deposit containing 2.9 million ounces of gold.

The Bungara Worm trends north-northeast across Echo tenements and appears to mark a deep-seated shear zone or contact extending over a strike length of at least 20 kilometres, penetrating to at least 30 kilometres.

Other Echo prospects adjacent to the Bungara Worm include Orpheus and Shady Well both hosting high grade gold intersections.

Previous highlights at the Orpheus Prospect include:

- 8 metres at 12.9g/t gold;
- 7 metres at 11.0g/t gold; and
- 6 metres at 4.5g/t gold.

Previous highlights at the Shady Well Prospect include:

- 10 metres at 15.5g/t gold;
- 2 metres at 10.3g/t gold; and
- 6 metres at 10.2g/t gold.

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Mon, 09 May 2011 13:54:00 +1000 http://www.proactiveinvestors.com.au/companies/news/153654/echo-resources-in-a-trading-halt-pending-capital-raising-announcement-16088.html
<![CDATA[News - Echo Resources confirms gold potential near Barrick Gold and Newmont Mining mines ]]> http://www.proactiveinvestors.com.au/companies/news/153653/echo-resources-confirms-gold-potential-near-barrick-gold-and-newmont-mining-mines-15688.html Echo Resources (ASX: EAR) 3D geological assessment has identified a major gold conduit, known as the Bungara Worm, which trends through the company's tenements in the Yandal Province of Western Australia.

The Yandal Province hosts massive gold deposits including Newmont Mining’s (NYSE: NEM) Jundee Deposit containing 5.4 million ounces of gold, and Barrick Gold’s (NYSE: ABX) Darlot Deposit containing 2.9 million ounces of gold.

Echo also said that the company's Julius Gold Discovery, which is located adjacent to the Bungara Worm, could host a large gold system.

Highlights from intersections at Julius include:

- 6 metres at 11.8 grams per tonne (g/t) gold;
- 5 metres at 11.2g/t gold; and
- 5 metres at 8.1g/t gold.

The company’s Yandal gold exploration assets have been assessed for gold mineralisation by Echo geologists where suitable host rocks, faults and geophysical anomalies have been discovered.

The Bungara Worm trends north-northeast across Echo tenements and appears to mark a deep-seated shear zone or contact extending over a strike length of at least 20 kilometres, penetrating to at least 30 kilometres.

Other Echo prospects adjacent to the Bungara Worm include Orpheus and Shady Well both hosting high grade gold intersections.

Highlights at the Orpheus Prospect include:

- 8 metres at 12.9g/t gold;
- 7 metres at 11.0g/t gold; and
- 6 metres at 4.5g/t gold. 

Highlights at the Shady Well Prospect include:

- 10 metres at 15.5g/t gold;
- 2 metres at 10.3g/t gold; and
- 6 metres at 10.2g/t gold.

 

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Thu, 21 Apr 2011 08:20:00 +1000 http://www.proactiveinvestors.com.au/companies/news/153653/echo-resources-confirms-gold-potential-near-barrick-gold-and-newmont-mining-mines-15688.html
<![CDATA[News - Echo Resources shares being snaffled up by unknown European investors ]]> http://www.proactiveinvestors.com.au/companies/news/153652/echo-resources-shares-being-snaffled-up-by-unknown-european-investors-14165.html Echo Resources (ASX: EAR) has revealed that some unknown European investors are taking a major shine to the company, with JP Morgan Nominess Australia currently holding 11% of the stock.

The shares are held with JP Morgan Nominess Australia pursuant to custody agreements with four European share custodian providers, with addresses in Luxemburg, Switzerland and Germany.

The beneficial owners of the shares have not been disclosed to date.

The Echo directors consider the international buying is based on some very promising intercepts from the Julius gold discovery, located in Western Australia, announced in late 2010.

 

Results include:

- 4 metres at 4.2 grams per tonne (g/t) gold, including 2 metres at 7.6g/t gold;
- 1 metre at 5.8g/t gold;
- 12 metres at 2.9g/t gold, including 2 metres at 8.9g/t gold; and
- 4 metres at 5.2g/t gold, including 1 metre at 16.7g/t gold.

The drill results confirm the presence of high-grade shoots along several larger gold lodes at Julius, including lodes hosted by granodiorite beneath, and to the east of, the sheared ultramafic-granodiorite contact.

The gold mineralisation is generally associated with the presence of elevated molybdenum, tellurium, bismuth and silver, which may have also added to the global interest in the stock.

Echo shares last traded at $0.215, after recently hitting a twelve month high of $0.30, with lows less than $0.05 as recently as five months ago.

Echo’s three directors continue to hold a combined 37.3% stake.

 

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Wed, 23 Feb 2011 12:16:00 +1100 http://www.proactiveinvestors.com.au/companies/news/153652/echo-resources-shares-being-snaffled-up-by-unknown-european-investors-14165.html
<![CDATA[News - Echo Resources' high grade gold hits enhance potential at Julius gold discovery ]]> http://www.proactiveinvestors.com.au/companies/news/153651/echo-resources-high-grade-gold-hits-enhance-potential-at-julius-gold-discovery-12100.html Echo Resources (ASX: EAR) has reported high-grade gold intercepts from reverse circulation drilling undertaken at the Julius gold discovery, Western Australia, enhancing the potential for it to contain a substantial gold mineralised system.

Results include:

- 4m @ 4.2g/t Au including 2m @ 7.6g/t Au;
- 1m @ 5.8g/t Au;
- 12m @ 2.9g/t Au including 2m @ 8.9g/t Au; and
- 4m @ 5.2g/t Au including 1m @ 16.7g/t Au

The drill results confirm the presence of high-grade shoots along several larger gold lodes at Julius, including lodes hosted by granodiorite beneath, and to the east of, the sheared ultramafic-granodiorite contact.

The gold mineralisation is generally associated with the presence of elevated
molybdenum (Mo), tellurium (Te), bismuth (Bi) and silver (Ag). In particular, Te, Bi and Ag show a spatial association with gold mineralisation.

Echo is sourcing quotations from drilling contractors for follow-up RC and core drilling at Julius.

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Mon, 29 Nov 2010 16:34:00 +1100 http://www.proactiveinvestors.com.au/companies/news/153651/echo-resources-high-grade-gold-hits-enhance-potential-at-julius-gold-discovery-12100.html
<![CDATA[News - Echo Resources shares spike 46% before trading halt ]]> http://www.proactiveinvestors.com.au/companies/news/153650/echo-resources-shares-spike-46-before-trading-halt-12059.html The ASX has granted a trading halt to Echo Resources (ASX: EAR), but not before there was massive trader interest in the stock.

Echo hit a morning intra-day high of $0.28, almost double the $0.15 opening price, with the last trade at $0.19, on volume of 3.3 million shares.

The company did not state in its ASX trading halt request the nature of why the shares should be placed in pre-open.

Last month Echo announced significant intercepts including; 4m at 5.1g/t gold and 8m at 2.8g/t gold, at the Julius gold discovery in the Yandal Gold Nickel project, located in the Yandal Belt of Western Australia.

The Yandal Belt contains several of Australia's largest gold deposits, such as those at Jundee, Darlot and Bronzewing, which have produced in excess of six million ounces of gold since 1995.

 

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Fri, 26 Nov 2010 14:38:00 +1100 http://www.proactiveinvestors.com.au/companies/news/153650/echo-resources-shares-spike-46-before-trading-halt-12059.html
<![CDATA[News - Echo Resources intercepts significant preliminary gold at Julius ]]> http://www.proactiveinvestors.com.au/companies/news/153649/echo-resources-intercepts-significant-preliminary-gold-at-julius--10620.html Echo Resources (ASX: EAR) has reported preliminary gold assay results on 4m composite samples from Reverse Circulation drill holes completed at the Julius gold discovery in the Yandal Project, Western Australia, with significant intercepts including 4m @ 5.1g/t Au and 8m @ 2.8g/t Au.

In June drilling at Julius returned several highgrade gold intercepts and today's results will reinforce Echo’s belief that the area may host a large hydrothermal gold mineralised system containing discrete high-grade gold lodes.

Geological logging and gold-related pathfinder trace elements in step-out drill holes indicate potential gold mineralisation down-dip to the west of the main Julius RC drilling area.

Highlights include:

- ERC139: 4m @ 5.1g/t Au from 44m and 12m @ 1.1g/t Au from 64m;
- ERC143: 8m @ 2.8g/t Au from 8m;
- ERC133: 12m @ 1.8g/t Au from 60m; and
- ERC134: 8m @ 1.6g/t Au from 80m and 4m @ 2.1g/t Au from 100m.

The RC holes intersected significant widths (greater than 50m down-hole) of gold
mineralisation and muscovite-biotite-silica-pyrite alteration along a west-dipping shear zone between ultramafic and granitic rocks.

The gold mineralisation is generally associated with the presence of elevated
molybdenum (Mo), tellurium (Te), bismuth (Bi) and silver (Ag). In particular, Te, Bi and Ag show a spatial association with gold mineralisation.

In some cases, these elements extend beyond the gold zone, and can be used as pathfinders to locate blind gold mineralisation at Julius.

The results from ERC140 suggest that the Julius gold mineralised system continues at depth to the west.

Pre-collar RC drill hole ERC142 was completed in readiness for a step-out diamond core tail designed to test if the gold mineralised system extends 650m down-dip to the west of previous RC drilling along the ultramafic-granite contact, as predicted by 3D geological modelling.

ERC142 will be completed with a diamond core drill rig later this year or early next year depending on rig availability.

Future drilling will test the potential for high-grade gold lodes in the area west of Julius.

Echo is currently sourcing quotations for drilling contractors for a follow-up drilling program at Julius.

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Thu, 07 Oct 2010 10:28:00 +1100 http://www.proactiveinvestors.com.au/companies/news/153649/echo-resources-intercepts-significant-preliminary-gold-at-julius--10620.html