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Echo Resources Ltd.
Summary
| Project: | Julius | |
|---|---|---|
| Deposit: | Julius | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 6/27/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Mine Development | |
| Report details: | 27-6-2017: Echo Resources Ltd. announces an Exploration/Drilling Update report for its Julius deposit at the Julius project. Drilling results incl. 4m @ 13.98g/t Au from 48m. Echo Resources Limited (ASX: EAR) (‘Echo’ or the ‘Company’) is pleased to releas | |
| Resources: | (Resource, Total): 5.2Mt @ 2.0g/t Au for 335000oz Au contained at project | |
| CP/QP: | [Overall Report]: Simon Coxhell (Internal) | |
| ABSTRACT: | Echo Resources Limited (ASX: EAR) (‘Echo’ or the ‘Company’) is pleased to release results from recent aircore drilling at the Julius Gold Project (‘Julius’). Drilling has yielded outstanding results that are likely to enable an expansion of the Julius open-pit which was proposed in the January 2017 Bankable Feasibility Study (‘BFS’) 1 . Julius is currently host to a Resource of 335,000 ounces (5.2Mt @ 2.0g/t Au2 ) of gold contained on the granitegreenstone contact of a late stage granite pluton. Based on our understanding of the controls of known mineralisation this round of drilling targeted extensions to the north of the proposed Julius BFS pit. Aircore drilling on the granite margin up to 150 metres north of the Julius BFS pit provided encouraging results including 4 metres @ 13.98 g/t Au from 36 metres. This drilling confirmed significant potential for a much larger open pit. In addition, an intersection of 20 metres @ 1.93 g/t Au from 32 metres was encountered on the mineralised contact approximately 400 metres north of the proposed pit providing great promise for a significant strike extension to Julius. These results suggest there remains considerable upside at Julius and follow-up RC drilling is planned to test the full extent of the Julius mineralised system. | |
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