Encounter Resources (ASX:ENR) has identified a new ‘large-scale’ niobium-rare earth element (REE) carbonatite at the Hurley target within its Aileron Project in Western Australia.
The $118.65 million market capitalisation company says 4 reverse circulation (RC) holes completed at Hurley intersected fresh carbonatite to end-of-hole that is anomalous in niobium (Nb) and REEs via handheld pXRF field analysis.
Drillhole EAL001 intersected a niobium-REE mineralisation carbonatite dyke within the Elephant Island Fault corridor, returning 16m @ 0.6% niobium pentoxide (Nb2O5) and 0.2% total rare earth oxide (TREO) from 350m.
Meanwhile, drillhole EAL007 intersected 282m @ 0.54% Nb2O5 and 0.17% TREO from 64m to end-of-hole, including 19m @ 1% Nb2O5 and 0.2% TREO from 65m.
Commenting on the drill results, Encounter Resources Managing Director Will Robinson says: “Following the intersection of thick, near-surface niobium-REE mineralisation at Crean, the first step-out target for testing was the Hurley gravity-magnetic target located 3km to the east.
“The initial drilling at Hurley has intersected a large, depth-extensive niobium-REE carbonatite”
The initial drilling at Hurley has intersected a large, depth-extensive niobium-REE carbonatite. The intersection of another niobium-REE mineralised carbonatite, this time at Hurley, endorses our targeting methods and further substantiates the mounting and large-scale prospectivity at Aileron.”
Samples from the drill program conducted at Hurley have been prioritised, with assays anticipated in November 2023.
Encounter Resources is a mineral exploration company focused on discovering ‘major’ copper and critical mineral deposits in Australia. As of 30 June 2023, the company had $11.8 million cash at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Encounter Resources
