ENR says airborne gravity survey data has outlined “extraordinary” new targets at the Aileron project, right next door to WA1 Resources’ (ASX:WA1) company-making Luni niobium-REE discovery in the West Arunta of WA.
Gravity surveys are a crucial exploration tool used calculate the density of subsurface rock. The higher the gravity values, the denser the rock beneath.
ENR’s new survey has defined a monstrous, high amplitude gravity anomaly that encompasses its Caird target and the adjacent Luni discovery:
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Pic: Aileron gravity survey containing high amplitude gravity anomalies (dotted lines)
“The survey has unveiled some extraordinary new density features that are interpreted as potential alkaline intrusions highly prospective for carbonatite-hosted critical minerals and base metals,” ENR MD Will Robinson says.
Carbonatites are associated with economic deposits of metals like REEs and niobium.
“We will interpret and integrate these new datasets and are already planning programs to test these exceptional targets,” Robinson says.
Diamond drilling is ongoing at the Caird, Crean and Worsley targets defined in prior geophysical surveys, with first results expected in June-July 2023.
The $90m capped stock is up 45% in 2023. It had $4.2m in the bank at the end of March
ENR Price at posting:
26.0¢ Sentiment: Buy Disclosure: Held
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