- Encounter Resources (ENR) discovers large-scale alkaline targets at its Aileron copper-gold rare earth element (REE) project in WA
- The company used preliminary data from its Falcon airborne gravity survey, which defined a high-amplitude gravity anomaly near the company’s Caird prospect
- ENR expects to analyse and integrate the data in the following weeks and kick off its planned exploration, including surface geochemistry and drilling
- Meanwhile, diamond drilling at the company’s Caird, Crean, and Worsley prospects is continuing, with first results expected in June-July 2023
- ENR shares are up 21.4 per cent to 25.5 cents at 10:45 am AEST
Encounter Resources (ENR) has discovered large-scale targets at its Aileron copper-gold rare earth element (REE) project in WA’s West Arunta region.
The company used preliminary data from a project-wide Falcon airborne gravity survey to define a large, high-amplitude gravity anomaly that encompassed its Caird target and the adjacent Luni Discovery, held by WA1 Resources (WA1).
The company interpreted the find as a major alkaline intrusive complex with the potential to hold carbonatite-hosted critical minerals and base metals.
“We are delighted with the initial outputs of the survey as it has provided important geological context, key structural information and high-quality new targets,” ENR Managing Director Will Robinson said.
“We had ideal flying conditions and the survey data is high-quality and revealing,” Mr Robinson said.
“We will interpret and integrate these new datasets and are already planning programs to test these exceptional targets.”
ENR has planned to analyse and integrate the data in the following weeks, and kick off its planned exploration in the area, which will include surface geochemistry and drilling.
Meanwhile, diamond drilling at the company’s Caird, Crean, and Worsley prospects is continuing, based on prior geophysical surveys. The first results are expected around June or July this year.
ENR shares climbed 21.4 per cent to 25.5 cents at 10:45 am AEST.