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.