Encounter sets rendezvous for further Yeneena drilling

Encounter Resources (ASX:ENR) is planning further drilling to target the base of the copper anomalous carbonate unit in 2024 at its Yeneena Project in Western Australia. 

The $118.66 million market capitalisation company says this specific target position within the Broadhurst Formation is adjacent to a major regional fault and is an analogous geological setting to that of the Nifty copper deposit that lies 50km north-west. 

Encounter reports aircore drilling at Yeneena recently intersected a laterally extensive iron-manganese horizon with ‘strong’ copper-silver anomalism. 

Managing Director Will Robinson says aircore drilling completed in September uncovered the extensive anomaly that was interpreted to be leakage along a fault from a primary position at depth. 

“Exploration at the Yeneena project, located south of the Nifty copper mine, is completed in partnership and funded by IGO under a farm-in agreement.

Planned drilling will target primary copper mineralisation deposited at the base of a thick carbonate unit interpreted from geophysics.”

The company completed 9 holes targeting the upflow source of a recently discovered hydrochemical anomaly. 

Results of the ‘significant’ copper and silver anomalism include hole 23PTAC0109 with 15m @ 0.17% Cu, 21.8 grams per tonne Ag from 69m, including 10m @ 0.23% Cu from 73m.

The Yeneena project covers a more than 1,450km-square area in the Paterson Province. IGO can sole fund $15 million in exploration spending over 7 years to earn a 50% interest in the project. 

Encounter Resources is an Australian mineral explorer focused on copper, niobium, and rare earth deposits. 

As of 31 December 2023, the company had $7.458 million cash and cash equivalents at hand, according to its latest quarterly report. 

Write to Aaliyah Rogan at Mining.com.au   

Images: Encounter Resources
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Written By Aaliyah Rogan
Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.