Encounter Resources (ASX:ENR) has touted the rare earths potential of its Emily prospect within its Aileron Project in Western Australia following its latest round of assay results from the area.
The $102.75 million market capitalisation company says the remaining assays from the eastern end of the Emily target — which come from a 15-hole reverse circulation (RC) program across the area completed in October 2023 — showcase the prospect’s potential for shallow, enriched niobium-rare earth element (REE) mineralisation.
The latest Emily assay results include a top hit of 14m @ 0.91% total rare earth oxides (TREO) and 0.5% Nb2O5 from 28m in hole EAL058.
Previously reported drill results from this area include EAL098 with 130m @ 0.7% Nb2O5 and 0.23% TREO from 50m, including 12m @ 2.3% Nb2O5 and 0.85% TREO from 54m, and EAL136 with 32m @ 1% TNb2O5 and 0.25% TREO from 34m.
Encounter says the results ‘clearly’ define a geophysical target at Emily that has the potential for further shallow, ‘high-grade’ mineralisation. This target will be the focus of upcoming drilling.
Meanwhile, Encounter says the mineralisation at Emily potentially bodes well for similar nearby but large geophysical features at the Green and Joyce targets in the project area.
The company is now planning more heritage surveys for early 2024 to facilitate further aircore and RC drilling at the Emily, Green, and Joyce targets, with ‘systematic’ drill testing on a 1km-by-1km area of the magnetic low at Emily planned for around May or June
Encounter Resources Managing Director Will Robinson says the assay results from the first reconnaissance drilling program at Emily are ‘potentially significant’.
“Follow-up drilling at Emily will focus on the central part of the targeted magnetic low, which is interpreted to represent favourable lithology for shallow niobium-REE-enriched mineralisation.
Systematic closer-spaced drilling of this target has strong potential to yield additional zones of high-grade near-surface mineralisation.”
“Systematic closer-spaced drilling of this target has strong potential to yield additional zones of high-grade near-surface mineralisation”
The Aileron Project is wholly owned by Encounter and lies in the West Auranta region of WA. This project is prospective for niobium, REE, and copper.
Meanwhile, Encounter also owns the Greater McArthur Superbasin Copper Project and the Sandover Copper and Junction Lithium Projects in the Northern Territory, as well as the Lamil Copper-Gold Project, also in Western Australia.
Encounter Resources had around $9 million cash at hand on 30 September 2023, according to its latest investor presentation.
Write to Joshua Smith at Mining.com.au
Images: Encounter Resources
