Echo Resources’ (ASX:EAR) shares closed circa 5% higher on Thursday after receiving high-grade gold results from drilling at its Zaphod gold discovery in Western Australia.
Zaphod is located 10 kilometres from the Bronzewing Processing Hub in the central Yandal greenstone belt.
Echo’s six reverse circulation drill holes followed up 13 aircore holes drilled in 2016 and have defined high grade mineralisation over 100 metres of strike.
The new results extends gold mineralisation below Echo’s 2016 drilling and includes:
- 2 metres at 15.55 g/t gold from 105 metres;
- 2 metres at 14.84 g/t gold from 89 metres; and
- 4 metres at 6.20 g/t gold from 116 metres.
Importantly, the mineralisation remains open along strike and at depth. Zaphod is the first of many structural targets identified by Echo to be drilled.
The company’s objective is to discover new gold systems in the under-explored central Yandal greenstone belt within its 1,600 square kilometres of highly prospective tenement holdings.
Echo has a large pipeline of prospective targets and will continue to test these in conjunction with resource and reserve definition drilling programs during the remainder of 2017.