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Encounter Resources kicks off zinc-copper drilling at Yeneena, Western Australia

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Encounter Resources (ASX: ENR) has commenced a 9,000 metre diamond drilling program at the Yeneena base metals project in Western Australia.

The initial hole at the BM2 zinc prospect will test the up dip position of high grade zinc sulphide mineralisation intersected at the end of the 2013.

This intercept included 0.7 metres at 36.5% zinc from 430.05 metres.

At the BM7 copper prospect, where Antofagasta (LON:ANTO) is earning in, a 6 kilometre by 3 kilometre copper system remains open to the south.

Antofagasta, one of the world’s largest copper producers, may earn a 51% interest in two tenements by incurring expenditures of US$20 million over a five year period.

Recent drilling here intersected a 5.3 metre zone, with locally massive copper sulphides forming as breccia cement near the upper boundary of a narrow carbonate unit.

This zone returned an assay of 5.3 metres at 2.5% copper from 387.6 metres, including 0.7 metres at 10.7% copper.

The initial three diamond holes at BM7 will test the area down dip and to the east of this high grade copper sulphide mineralisation.

This drilling will also provide the first diamond drilling at the BM7 East regolith anomaly, which extends over 2 kilometres in strike.

The planned exploration under the Antofagasta earn-in agreement during the June 2014 quarter includes 4,000 metres of diamond drilling and 5,500 metres of aircore and reverse circulation drilling.

Yeneena covers 1,900 kilometres of the Paterson Province, 40 kilometres southeast of the Nifty copper mine and 30 kilometres southwest of the Telfer gold-copper deposit.

During 2012 and 2013 Encounter added to its ground position along the prospective corridor adjacent to Yeneena by completing earn-in agreements with listed companies including St Barbara (ASX: SBM) and Independence Group (ASX: IGO).

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

Quick facts: Encounter Resources Ltd

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