Sydney - Monday - October 11: (RWE Aust Business News) - Encounter Resources (ASX:ENR) has a second zone of near surface copper mineralisation at the BM1 prospect at the Yeneena project.
The new zone of coherent copper mineralisation is located approximately 500 metres south of the northern area copper discovery.
On the basis of broad spaced drilling this new zone of copper mineralisation is interpreted to be approximately 600m long and 100-200m wide.
The mineralisation identified is hosted in black shales below the base of oxidation.
It is associated with high sulphur contents and high copper/sulphur ratios indicating that it is likely to be transitional to primary in nature.
There is a clear north-south trend to the copper mineralisation and it is interpreted that this zone represents metal leakage from a primary source at depth, localised along a north-south trending fault.
"The identification of the second copper zone at BM1 expands the footprint of the near surface mineralisation significantly," managing director Will Robinson said.
"The copper is hosted in black shales below the base of oxidation which gives us further confidence that the near surface copper discovered at BM1 has a primary source at depth."
Further assay results from the northern area are expected to be received within the next two weeks.
Reuters.
ENR Price at posting:
74.0¢ Sentiment: Buy Disclosure: Held
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