News: Encounter Resources starts copper drilling in Western Australia

Encounter Resources (ASX:ENR) has started diamond drilling at the Fishhook Project in Western Australia that follows up a regional aircore drilling program that had highlighted a number of areas of interest.

The program is co-funded under the WA Government Exploration Incentive Scheme, which will pay for half of drilling costs to a cap of $150,000.

Diamond drilling will be carried out on the Moby Dick and Orca targets.

Moby Dick is a 2 kilometre long copper geochemical anomaly coincident with a resistive geophysical anomaly.

A diamond drill hole is planned for this target to identify the source of the copper regolith anomaly and to determine if similar mineralisation indicators occur in the Fishhook area as in the BM1-BM7 corridor.

Orca is located about 5 kilometres southwest of Moby Dick.

Aircore and EIS co-funded reverse circulation drilling has outlined a north west trending, 800 metre long copper geochemical anomaly located adjacent to the regionally significant Vines Fault.

Previous shallow drilling indicates the anomaly contains copper with assays up to 0.4% copper, 104 grams per tonne silver silver and end of hole bedrock copper anomalism grading above 0.1% copper. This target will also be followed up with a single diamond drill hole.

Assay results are expected in November 2014.

Fishhook covers an area of over 100 square kilometres and located about 20 kilometres north of the BM1-BM7 copper discoveries in the Yeneena project.

Encounter had $3.8 million in cash at hand as at 30 June 2014 and received a further $1.5 million in earn-in contribution in July.

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