Echo Resources
Echo Resources (ASX: EAR) is an Australian exploration company committed to the growth of shareholder value through successful exploration and project acquisitions. Echo is exploring for gold, copper and nickel deposits in highly endowed mineral provinces in Western Australia and Queensland. Echo Resources confirms gold potential near Barrick Gold and Newmont Mining mines
Thursday, April 21, 2011 Echo Resources (ASX: EAR) 3D geological assessment has identified a major gold conduit, known as the Bungara Worm, which trends through the company's tenements in the Yandal Province of Western Australia.
The Yandal Province hosts massive gold deposits including Newmont Mining’s (NYSE: NEM) Jundee Deposit containing 5.4 million ounces of gold, and Barrick Gold’s (NYSE: ABX) Darlot Deposit containing 2.9 million ounces of gold.
Echo also said that the company's Julius Gold Discovery, which is located adjacent to the Bungara Worm, could host a large gold system.
Highlights from intersections at Julius include:
- 6 metres at 11.8 grams per tonne (g/t) gold;
- 5 metres at 11.2g/t gold; and
- 5 metres at 8.1g/t gold.
The company’s Yandal gold exploration assets have been assessed for gold mineralisation by Echo geologists where suitable host rocks, faults and geophysical anomalies have been discovered.
The Bungara Worm trends north-northeast across Echo tenements and appears to mark a deep-seated shear zone or contact extending over a strike length of at least 20 kilometres, penetrating to at least 30 kilometres.
Other Echo prospects adjacent to the Bungara Worm include Orpheus and Shady Well both hosting high grade gold intersections.
Highlights at the Orpheus Prospect include:
- 8 metres at 12.9g/t gold;
- 7 metres at 11.0g/t gold; and
- 6 metres at 4.5g/t gold.
Highlights at the Shady Well Prospect include:
- 10 metres at 15.5g/t gold;
- 2 metres at 10.3g/t gold; and
- 6 metres at 10.2g/t gold.
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