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Echo Resources Ltd.
Summary
| Project: | Yandal | |
|---|---|---|
| Deposit: | Mt Joel | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 6/25/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Mine Development | |
| Report details: | 25-6-2019: Echo Resources Ltd. announces a Resource Estimation report for its Mt Joel deposit at the Yandal project. Mt Joel Mineral Resource Update. Echo Resources (ASX: EAR) (‘Echo’ or the ‘Company’) is pleased to provide an updated Mineral Resourc | |
| Resources: | (Resource, Total): 1.382Mt @ 2.1g/t Au for 91.6Koz Au contained at Mt Joel | |
| CP/QP: | [Resources]: Elizabeth Haren (Haren Consulting Pty Ltd.) | |
| ABSTRACT: | Echo Resources (ASX: EAR) (‘Echo’ or the ‘Company’) is pleased to provide an updated Mineral Resource Estimate for the 70% owned Mt Joel Project, part of the Yandal Gold Project, in Western Australia. The updated Mt Joel Mineral Resource Estimate is 1.4Mt at 2.1 g/t Au for 91,600 ounces Au. The Resource update includes Maiden JORC Resources for the Tiger and Adder deposits and an Updated Resource for the Taipan deposit. Some 98% of the Mineral Resource is classified in the Indicated category. The Mineral Resource Estimate was completed by Haren Consulting (Haren) and reviewed by Echo’s geological team. The details of the Updated Mt Joel Project Mineral Resource are provided in Table 1. Echo’s CEO and Managing Director, Victor Rajasooriar, commented: “The Mt Joel deposits are only 15 kilometres from our existing processing facility and provides Echo with the opportunity to enhance our existing mine plan with quality oxide ounces. “The deposits are open in multiple directions with further drilling planned for August 2019 aiming to grow the existing resources further and apply our knowledge of these deposits to the region’s other numerous exploration targets.” The Mount Joel Project Area is located 15 km to the north of the Bronzewing Processing Plant, part of the Yandal Gold Project (Figure 1). The Mt Joel tenements are subject to a joint venture with respected prospector Mark Creasy and Echo holds a 70% interest. Mt Joel is currently comprised of three key deposits; Taipan, Tiger and Adder, as well as numerous projects and exploration target areas. Echo completed a reverse circulation (RC) drilling program in December 2018 to January 2019 (refer EAR ASX announcement 7 February 2019). The RC program was designed to further define and increase confidence in the mineralisation defined from the air core (AC) drilling reported on 30 November 2018 and 21 December 2018. The RC and AC drill holes were drilled at a density with the objective to define Indicated Resources and this drilling has confirmed, extended and increased the confidence in the mineralisation. The drilling results have provided confidence that potential exists to define significant, open-pittable resources over several satellite pits in the Mt Joel Project area | |
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