Encounter Resources (ASX:ENR) says its Green target in the West Arunta region of Western Australia contains widespread carbonatite complex hosting niobium and rare earths.
Assays have been received from a broad-spaced, reconnaissance aircore drilling program, returning 6m @ 2.3% niobium pentoxide from 50m, including 4m @ 3% niobium pentoxide from 52m; and 26m @ 1.3% niobium pentoxide from 53m, including 2m @ 4.1% niobium pentoxide from 67m.
Encounter, which has a market capitalisation of $374.18 million, is expecting a second batch of samples from the Green target, covering the eastern side of the target in August this year.
The next phase of exploration has already begun, aimed to define “high-grade” sections within the broader mineralised trend through closer spaced aircore drilling and deeper reverse circulation drilling.
Executive Chairman Will Robinson says drilling achieved what the company hoped for, which was identifying and mapping out near-surface mineralised carbonatites in the West Arunta.
“The mineralised trend at Green broadly follows a curved, magnetic anomaly extending to the northeast from WA1 Resources’ (ASX:WA1) Luni discovery and wraps around into the Stromness fault,” he says.
“Many of the aircore holes drilled at Green end in high-grade niobium mineralisation and the next phase of exploration aims to methodically define better mineralised parts of the large carbonatite at Green through closer spaced and deeper drilling.”
Encounter notes that the mineralised trend is open to the east as it approaches the Stromness fault.
The company owns the Aileron Project in the West Arunta region, which is considered prospective for niobium, rare earths, and copper.
Encounter Resources holds a portfolio of prospective projects across Australia, including the Lamil, Greater McArthur Superbasin Copper, and Sandover Copper and Junction Lithium projects.
Write to Aaliyah Rogan at Mining.com.au
Images: Encounter Resources
