Niobium on a black background
Source: Adobe Stock
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

Encounter Resources Ltd (ASX:ENR) has used exploration drilling conducted last year to produce an initial inferred resource for its Aileron niobium project in Western Australia, with this estimated at 19.2 million tonnes (Mt) at 1.74% niobium pentoxide (Nb₂O₅) at a cut-off rate of 1.0% Nb₂O₅.

This maiden mineral resource estimate (MRE) – which is compliant with the 2012 JORC code – was prepared by Snowden Optiro, and marks an important step in exploration and development of the project, located in WA’s West Arunta region.

Three deposits – Green, Emily and Crean – are included in the combined MRE, which is contained within a broader resource of 67.6Mt at 0.88% Nb₂O₅ (from a cut-off of 0.25% Nb₂O₅).

Notably, the numbers have been yielded following only 6 months of drilling work, after the discovery of the high-grade Crean deposit in June 2024, and later discoveries at Green and Emily.

This exploration has shown the presence of shallow high-grade mineralisation open along strike and at depth, with reverse circulation (RC) drilling being progressed to extend this and improve its definition.

Executive chairman Will Robinson said the exploration work conducted throughout 2024 had outlined mineralisation which could become “one of the world’s most significant undeveloped niobium resources”.

“This early success highlights the exceptional geological potential of the Aileron project and the broader West Arunta region,” he said.

“This is only the beginning. The strike-extensive carbonatite systems of the West Arunta represent an unusually mineralised suite of intrusions, and Encounter is committed to unlocking their full potential through a focused and systematic exploration program.”

Encounter shares have risen since the news, and at 10:26 AEST, they were trading at 20 cents – a rise of 5.26% since the market opened.

Join the discussion: See what HotCopper users are saying about Encounter and be part of the conversations that move the markets.

enr by the numbers
More From The Market Online

Pioneer locks in USFS approval for large-scale Springfield drilling in ‘culmination’ of prep work

Pioneer has received approval from the USFS to execute its maiden drilling program at the Springfield…

MetalsGrove Mining to test seven potential drill targets at at Zuénoula

MetalsGrove Mining is preparing to test seven news targets with auger drilling at its Zuénoula permit…

Resolution Minerals joins high-profile US defense industrial base consortium

Resolution Minerals has achieved another breakthrough in its US critical minerals strategy with its admission as…

Power’s priority mineralogy program at Morro do Ferro targeting ‘high-value’ magnet rare earth elements

Power has started a priority mineralogical characterisation program at Morro do Ferro to identify the host…