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.
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.