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Echo Resources Ltd.
Summary
| Project: | Julius | |
|---|---|---|
| Deposit: | Julius | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 8/22/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 22-8-2016: Echo Resources Ltd. announces an Exploration/Drilling Update report for its Julius deposit at the Julius project. Drilling results incl. 9m @ 18.11g/t Au from 32m. Echo Resources Limited (“Echo” or “the Company”) is pleased to announce the resu | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: n/a (n/a) | |
| ABSTRACT: | Echo Resources Limited (“Echo” or “the Company”) is pleased to announce the results from the first 10 aircore holes drilled in the northern sector of the proposed Stage 1 open pit at the Julius Gold Project. The drilling was completed on a 10m x 10m pattern designed to accurately quantify the tonnes and grade of the previously defined soft oxide gold mineralisation indicated to be present between 24 and 60 metres from previous RC and aircore drilling results. The drilling has confirmed and extended previous known high grade results and will allow conversion from Indicated to Measured Resources and allow a more accurate updated Resource Estimate to be compiled. Additional results from both aircore and reverse circulation drilling are expected in the next few weeks. Mr Simon Coxhell, Echo’s Chief Executive Officer, commented: “Previous high grade results in the northern sector of the proposed pit, as defined in the Scoping Study, suggested a high grade zone to be present. While not unexpected, these results confirm the extent of the supergene zone with all results within highly oxidised ultramafic and granitic rocks which are extensively sheared and altered with associated quartz veining. Free gold, as suggested by the recent metallurgical testwork results was further verified by panning a number of samples resulting in extensive visible free gold. I look forward to receiving all remaining infill aircore and extensional RC results in the coming weeks. Once all of the results have been received, a follow up drill programme will be instituted aimed at extending the Julius mineralisation” | |
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