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Resources Top 4: Encounter’s thick, high-grade niobium find strengthens westwards; Burley muscles up
Mining
3 hours ago | Rob Badman


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• Encounter Resources is the standout ASX ressie stock so far today, with a niobium-news-based +60% gain
• Burley Minerals is muscling its way on up the bourse, too, amid some tea, biscuits and boardroom shuffling
• RWD and KTA also reaping some share price rewards at time of publishing

Here are some of the biggest resources winners in early trade, Monday June 24.

Encounter Resources (ASX:ENR)

Critical minerals explorer Encounter Resources is focused on discovering major copper and niobium/REE deposits in Australia.
This morning, it’s the ressie gains pack leader with a strong 60% intraday burst. There appears to be a very clear reason for that.
As we flagged earlier in our Top 10 at 10, the company has drilled into thick, high grade niobium at the Crean carbonatite, part of the Aileron project in the red-hot West Arunta region of WA.
Highlights include 52m at 3% Nb2O5 from 81m to end of hole, including 16m at 6% Nb2O5.
The shallow mineralised trend is now reportedly more than 800m long, and appears to be strengthening to the west and remains open for further exploration.
The first aircore drill results from 2024 drill program at the Aileron project in West Arunta have returned high-grade, near-surface niobium-REE mineralisation.
Highlights include:
– 52m @ 3.0% Nb2O5
– 32m @ 2.5% Nb2O5
– 15m @ 1.5% Nb2O5
https://t.co/kH7CRRYli4$ENR pic.twitter.com/GScttnLpCH
— Encounter Resources (@Encounter_ENR) June 24, 2024

What next? A second batch of aircore samples, which includes further samples from Crean as well as samples from the Emily and Hurley targets, is now at the lab, with assay results expected in July.
The company’s MD Will Robinson said this, among other things:
“Aircore drilling is opening up new fronts of shallow niobium-REE carbonatite hosted mineralisation at Aileron. The aircore rig completed over 10,000m of drilling in its first month on site.
“This drilling has expanded the near surface footprint of the Crean, Hurley and Emily carbonatites. The aircore rig has now moved to the untested Green and Joyce targets located east of WA1 Resources’ Luni carbonatite discovery. Drilling will start with broad spaced aircore traverses and then move to closer spaced drilling based on initial observations.”