Commenting on the copper intersected at Sandover, Encounter...

Commenting on the copper intersected at Sandover, Encounter Managing Director Will Robinson said:“Greenfield exploration is an iterative learning process. In the south-east of Sandover there is an outcropping red-bed sandstone sequence with multiple narrow but strike extensive grey shale units (reductants) containing copper oxide mineralisation. This horizon has been mapped over 20km.“

So the drilling was primarily to find multiple narrow, strike extensive copper oxide reductions.

“We drilled this first diamond drill hole into what we interpreted was a favourable structural position, at the western end of the basin targeting the first reductant. We didn’t intersect the targeted reduced unit,”

So they have not found what they had hoped to find …… yet.

“so we extended the hole to the basement unconformity where it intersected high grade copper mineralisation.

”This provides further evidence of highly charged copper fluids in the basin. Mineralisation has been identified in both reduced sedimentary horizons within the basin and now also at the basement unconformity. Further geophysical surveys are planned to guide the next phase of drilling.”

So they found something they did not expect to find, somewhere else than where they expected to find something. A thin band rich in copper oxide, deeper than expected.

Back to the drawing board, to find the source. I cannot figure out in what way this is in any way bad.

Looks like the whole Arunta region is a very strange place with lots of hidden surprises to be uncovered that will confound both geologists and mining companies for many years to come.. Will possibly rewrite geological thinking along the way.

And finally, ENR states:

“The mineralisation is on the basement contact, an analogous position to the Lumwana copper deposit in Zambia (owned by Barrick) and opens up potential for new deposit styles at Sandover”

I hope this is true - it will be big.

“Magnetic features have been identified adjacent to ESA001 and further geophysics, including a detailed magnetic survey, is planned prior to further drilling in the second half of 2024”

ENR believes this may be true and are going to do further drilling in the next six months.

ENR is the only other company, apart from (and very close to) WA1 to have found *significant niobium and REE.

it would appear to me that some shareholders have their blinkers on too tight and can only think of niobium and REE. These are present, awaiting further drilling.

I will settle for a Lumwana or a Sandfire copper mine.

Please try to read the company announcements more carefully. Will save a lot of unnecessary angst.

Cheers
INKY