Encounter Resources (ASX:ENR) breaks ground on WA project

Company News

by Katrina Bullock

Mineral explorer, Encounter Resources (ASX:ENR) has commenced exploration of the Paterson Province in Western Australia under its earn-in and joint venture agreement with IGO (ASX:IGO).

Under the agreement IGO can sole fund $15 million in exploration expenditure over a 7 year period to earn a 70 per cent interest in the Yeneena Copper-Cobalt Project.

Encounter’s Managing Director Will Robinson says “The successful deployment of a number of modern exploration methodologies in 2019 has generated a suite of new targets at Yeneena”.

The current program includes fine-fraction soil surveys and moving loop electromagnetic surveys.

These programs are designed to support drill target definition as a precursor to planned aircore and RC diamond drill programs in the second half of 2020.

Shares in Encounter Resources (ASX:ENR) are trading 3.45 per cent lower at 14 cents.