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Encounter Resources Ltd.
Summary
| Project: | Yeneena | |
|---|---|---|
| Deposit: | BM7 | |
| Location: | Australia | |
| Commodities: | Copper-Cobalt | |
| Date: | 1/26/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 26-1-2017: Encounter Resources Ltd. announces an Exploration/Drilling Update report for its BM7 deposit at the Yeneena project. Drilling results incl. 18m @ 0.28% Cu, 734ppm Co from 49m. The directors of Encounter Resources Ltd (“Encounter”) are pleased t | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Peter Bewick (Internal) | |
| ABSTRACT: | The directors of Encounter Resources Ltd (“Encounter”) are pleased to announce the intersection of a shoot of high grade copper-cobalt mineralisation at the BM7 prospect at Yeneena, Western Australia. BM1-BM7 is a 14km long copper system, discovered and wholly owned by Encounter, that contains high grade copper-cobalt sulphide mineralisation and a coherent zone of near surface copper oxide mineralisation. Considering the improving market outlook for both copper and cobalt, the Company is assessing the potential within the large mineral system at BM7 for near-term, high grade copper-cobalt development opportunities. A two RC hole program was completed at BM7 in November 2016 to test for continuity of the copper-cobalt mineralisation intersected in aircore hole EPT1667 (9m @ 1.5% Cu and 1.0% Co from 42m to EOH) (refer ASX release 21 November 2012). The two shallow RC scissor holes intersected additional high grade copper-cobalt down dip of EPT1667. EPT2292 included an intersection of 7m @ 1.4% Cu and 246ppm Co from 66m. Also encouraging, is the bottom of hole intersection in EPT2293 that finished in 18m @ 0.5% Cu and 735ppm Co from 49m including the final sample that graded 1m @ 0.2% Co (see Figure 2). It is interpreted that a steeply dipping high grade copper-cobalt shoot has been discovered at BM7 that is open to the north and south. Shallow drilling along the interpreted strike of the shoot includes an intersection of 8m @ 2.0% Cu and 1076ppm Co from 58m in EPT 1689 located 200m south and strong copper-cobalt mineralisation intersected on the drill section 200m north (see Figure 1) (refer ASX release 10 January 2013). A follow up drill program is planned in April-May 2017 to test down dip and along strike of the shoot and to test for additional near surface shoots in the BM7 region. | |
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