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Echo Resources Ltd.
Summary
| Project: | Bronzewing | |
|---|---|---|
| Deposit: | Zaphod | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 8/17/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 17-8-2017: Echo Resources Ltd. announces an Exploration/Drilling Update report for its Zaphod deposit at the Bronzewing project. Drilling results incl. 2m @ 15.55g/t Au from 105m. Echo Resources Limited (ASX: EAR) (‘Echo’ or the ‘Company’) is pleased to r | |
| Resources: | (Resource, I+I): 5.6Mt @ 1.9g/t Au for 349koz contained at project | |
| CP/QP: | [Overall Report]: Simon Coxhell (Internal) | |
| ABSTRACT: | Echo Resources Limited (ASX: EAR) (‘Echo’ or the ‘Company’) is pleased to release high grade results from drilling at the Zaphod gold discovery (‘Zaphod’). Zaphod was identified by Echo following a detailed structural study as part of Echo’s mineral systems approach to exploration targeting. Following this, outcrop mapping/sampling, surface geochemistry and first-pass aircore (‘AC’) drilling was completed in 2016. These six reverse circulation (‘RC’) holes follow up 13 AC holes drilled by Echo in 2016 and have defined high grade mineralisation over 100 metres of strike. Mineralisation remains open along strike and at depth. Zaphod comprises mineralised quartz veins within a package of sheared and carbonated intermediate-mafic rocks, which outcrop through a window of the surrounding ferruginous laterite. Echo’s Chief Executive Officer, Simon Coxhell, noted that Zaphod is a prime example of Echo’s ability to generate and efficiently explore for new, quality gold systems. “Despite this outcrop and its location only 10 kilometres of the Bronzewing Processing Hub, Zaphod had never previously been drilled. This is the most advanced example of Echo’s ability to identify new and prospective targets to potentially delineate new large gold resources.” “Following on from consolidating the large geophysical and exploration datasets during 2016 and early 2017, we have been actively identifying the key controls on mineralisation in the region. Zaphod is located in the pressure shadow of the Hamster Granite, an ideal structural position, and is analogous to the dilationary setting of Kanowna Bell. These systems have the potential to extend to great vertical depths and testing to date has been limited. We have a range of high quality targets which we are now in the process of moving along our methodical exploration and resource development pathway. “To this end, we are drilling two geochemical anomalies (ASX Announcement 20 July 2017) this week, with more to be tested in the near future”, he commented. | |
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