UBS 'drill hole of the day': Echo Resources (EAR.AX) has intersected 16m at 19.8g/t at its Julius gold project in Western Australia

UBS 'drill hole of the day': Echo Resources (EAR.AX) has intersected 16m at 19.8g/t at its Julius gold project in Western Australia. The intersection equates to circa $700/t using the UBS long term gold price assumption of $1300/oz. The hit includes a high-grade section of 4m at 76g/t, also from 276m ($2,765/t). The hole is a reverse circulation hole with assays representing 4m composite samples. The Julius gold project is located in the famous Yandal Gold Belt in Western Australia, approximately 750km northeast of Perth. The Yandal Belt is the host of numerous multi-million ounce gold deposits including Jundee, Darlot and Bronzewing. Momentum of interest in gold juniors keeps building. If this continues, Echo's spectacular drill result should command the project some worthy attention.