Encounter Resources (ASX:ENR) validated the presence of niobium from a drill program at the Green prospect within the Aileron project in Western Australia, according to a Thursday filing with the Australian bourse.
Initial results from the program yielded up to 10 meters at 4.2% niobium pentoxide from 57 meters within a larger envelope of 38 meters at 1.5% niobium pentoxide from 51 meters, the miner said in the filing.
The company's shares climbed 13% in recent Thursday trade.
Price (AUD): $0.39, Change: $+0.05, Percent Change: +13.04%
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