Encounter Resources Intersects Further High-Grade Mineralization at Western Australia Deposits; Shares Up 16%

MT Newswires Live
Yesterday

Encounter Resources (ASX:ENR) intersected further high-grade mineralization at the Emily and Green deposits within its Aileron project in Western Australia, according to a Tuesday filing with the Australian bourse.

Air-core drilling at Emily returned high-grade results in multiple zones at seven meters at 3.1% niobium pentoxide from 41 meters to the end of hole, 16 meters at 2.4% niobium pentoxide from 93 meters within 67 meters at 1% niobium pentoxide from 65 meters to the end of hole, the filing said.

Infill drilling at Green continued to indicate thick, high-grade niobium mineralization well above resource grade, returning nearly 20 meters at 5.3% niobium pentoxide from 76 meters within 92 meters at 2% niobium pentoxide from 74 meters, per the filing.

Shares rose 16% in afternoon trade Tuesday.

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