Encounter Resources Identifies Multiple Shallow Copper Oxide Blankets at Western Australia Project; Shares Down 5%

MT Newswires Live
09/29

Encounter Resources (ASX:ENR) identified multiple shallow copper oxide blankets more than 1 kilometer long at the Parbo copper system located in its Yeneena project in Western Australia, according to a Tuesday filing with the Australian bourse.

The company reported drill intersections including 52 meters at 0.6% copper from 42 meters, 15 meters at 1% copper and 0.6% cobalt from 36 meters, and 26.6 meters at 0.6% copper from 74.4 meters.

The results are potentially additive to the existing Tyrell prospect inferred mineral resource estimate of 2.9 million tonnes at 0.8% copper at the northern end of the Parbo system, Encounter Resources said.

The company, which is performing a strategic review of its copper assets, said assays from three diamond holes at Parbo are due in October.

The mineral explorer's shares shed 5% in recent Tuesday trade.

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