Sign up Australia
Proactive Investors - Run By Investors For Investors

Echo Resources Ltd high grade gold results paves way for open pit mine

Echo Resources Ltd high grade gold results paves way for open pit mine

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.

Register here to be notified of future EAR Company articles
View full EAR profile View Profile

Echo Resources Ltd Timeline

January 24 2017

Related Articles

Canadian flag
January 24 2017
This will be very easy to fast-track, because we’ve done all the work we need to move forward for the nickel lease
picture of mine interior
Caledonia retains operational control of Blanket and ownership of 49% of the mine in Zimbabwe
October 24 2016
These mid-program results demonstrate the potential the Wa Gold Project has to host shallow gold mineralisation.

© Proactive Investors 2017

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use