Encounter Resources Says Western Australia Prospect Drilling Intersects High-Grade Niobium Mineralization, Shares Jump 6%

MT Newswires Live

02/18

Encounter Resources (ASX:ENR) said aircore and diamond drilling at the Green prospect at the Aileron project in Western Australia intersected high-grade niobium mineralization, according to a Wednesday Australian bourse filing.

It hit intercepts of 42 meters at 2.2% grade of niobium oxide from 35 meters, as well as 18 meters at 1.3% grade of niobium oxide and 1% grade of total rare earth oxides from 58 meters.

The drilling at Green is still very broad, with drill sections 200 meters apart. The next phase of drilling at the prospect will close the drill spacing and define the highest-grade parts of the system.

Its shares jumped 6% in recent trading on Wednesday.

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