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Echo Resources Ltd.
Summary
| Project: | Julius | |
|---|---|---|
| Deposit: | Julius | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 10/26/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 26-10-2016: Echo Resources Ltd. announces an Exploration/Drilling Update report for its Julius deposit at the Julius project. Drilling results incl. 16m @ 3.69g/t Au from 24m. Echo Resources Limited (“Echo” or “the Company”) is pleased to announce that an | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Simon Coxhell (Internal) | |
| ABSTRACT: | Echo Resources Limited (“Echo” or “the Company”) is pleased to announce that an updated resource estimate for its Julius Gold Project (“the Project”) has commenced following receipt of these remaining results from the recent drilling program at the Project. Drilling was testing for extensions to the known mineralisation near the proposed Stage 1 open pit. The database is currently being compiled to incorporate all drilling completed by Echo in the last six months and a new resource estimate and block model will be created by an Independent Expert. Following this, critical components of the Bankable Feasibility Study (“BFS”) including pit optimisation, design and scheduling will be conducted with completion expected by the end of November. Echo’s Chief Executive Officer, Mr Simon Coxhell, said the results will potentially enable conversion of a significant proportion of existing Mineral Resources from Indicated to Measured categories. “These latest extensional drill results lie well outside of the Stage 1 open pit and highlight the large gold system at Julius which we are growing and further understanding. The anomalous results returned from all drill holes highlight the underexplored nature of the Julius system and provide us with numerous opportunities to grow the resource, both at depth and along strike. I look forward to receiving the updated resource estimate in the coming weeks, one of the key milestones of the well-advanced Bankable Feasibility Study”, Mr Coxhell said. | |
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