- Encounter Resources (ENR) has provided an update on the drilling program at the Aileron Gold-Copper Project in Western Australia
- Diamond drilling started in October but due to mechanical issues with the rig, a decision was made to demobilise the rig and assay the results
- Core will be transported to Perth for analysis with results expected in November to December, 2020
- Once analysed, the results will be used as part of the planning process for future drilling programs
- Encounter Resources ended the day 17.2 per cent in the red with shares trading for 26.5 cents each
Encounter Resources (ENR) has provided an update on the drilling program at the Aileron Gold-Copper Project in Western Australia.
Aileron is held in joint venture (JV) with Newcrest Mining (NCM) and lies in the West Arunta region.
Despite being prospective for large scale gold-copper deposits, Aileron has been subject to no previous mineral exploration and hole EAL_001 was the first hole drilled in the underexplored belt.
Diamond drilling began in October 2020 but due to mechanical issues with the drill rig, a decision was made to demobilise the rig at 158 metres and assay the results.
Core will be transported to Perth for analysis with results expected in November -December.
Once analysed, the results will be used in planning future drilling programs.
Despite demobilising the rig, Encounter observed a shallow cover which opens up the potential for surface sampling and shallow geochemical drilling.
Further, Encounter intersected a magnetite bearing banded iron formation (BIF) at 150 metres.
“This hole at Aileron is the first drill hole into a remote and unexplored belt. Despite mechanical issues with the rig, the hole appears to have just entered the southern margin go the modelled magnetic anomaly,” Managing Director Will Robinson said.
“A decision has been made that the best course of action at this time is to end the current program and assay the completed section of the hole,” he added.
Encounter has ended the day 17.2 per cent in the red with shares trading for 26.5 cents each in an $89.86 million market cap.