Echo Resources Ltd achieves another milestone at Julius Gold Project
Echo Resources Ltd (ASX:EAR) has received standout recoveries ranging from 96.7% to 99.8% gold from a metallurgical test work program at the Julius Project in Western Australia.
These results reinforce the recently completed scoping study for Julius which projected positive cash flow of $47 million over 2 years.
The Julius project is situated in the Yandal greenstone belt of the Eastern Goldfields, one of Australia’s most bountiful gold regions.
The region has produced many multi-million ounce gold deposits, including Bronzewing (4 million ounces), Jundee (5 million ounces) and Darlot (3 million ounces).
The tests at Julius were done via a combination of gravity and cyanide leach processes to measure gold recoveries and were conducted as part of a bankable feasibility study.
The results demonstrate outstanding gold recoveries, as high as 99.8% from the lower oxide zone.
In addition, results have shown a high proportion of gold (77% of the 99.8%) is recoverable by a gravity process.
A high proportion of gold recoverable by a gravity process reduces the burden on the carbon in leach (CIL), elution and carbon reactivation circuits, thereby lowering operating costs substantially.
The new metallurgical results are expected to provide further support for the bankable feasibility study due for completion late in 2016.
Echo shares continue to trade strongly, up 194% year to date, currently priced at $0.235.
