Sign up Australia
Proactive Investors - Run By Investors For Investors

Echo Resources Ltd lifts holdings in famed Yandal gold belt

Echo Resources Ltd lifts holdings in famed Yandal gold belt

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.

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

picture of gold pour
May 18 2017
Sener wants to do more work itself at Salinbas to see what’s there
picture of gold mine
May 08 2017
New Luika comprises nine deposits in the south of Tanzania
July 05 2017
The group is aiming for first gold production in mid-2018....

© 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