Encounter Resources (ASX: ENR) has confirmed that a programme of diamond and aircore drilling has commenced at Yeneena under the earn-in by IGO in the Paterson Province of WA.
“Exploration at Yeneena in 2023 defined priority copper targets at Fishhook and BM5. IGO has commenced a 6,300 metre programme of aircore and diamond drilling to test these targets," Executive Chairman, Will Robinson, said.
"This drilling will be completed in August with assay results expected in October-November 2024.”
Yeneena comprises a major land position covering around 1,450 sq. km in the highly prospective Paterson Province, targeting copper-cobalt mineralisation. IGO can sole fund $15 million in exploration expenditure over a maximum of seven years to earn a 70% interest in Yeneena.
2023 Aircore Drilling
Nine aircore holes were completed west of the historical drilling at BM5 in September 2023 as part of a 16 hole regional reconnaissance aircore drill programme targeting the upflow source of an identified hydrochemical anomaly.
2023 aircore drilling returned anomalous copper, silver and base metal values in 400m spaced holes to the west of a major regional fault. The anomalous assays occur within an iron-manganese horizon above a carbonate unit. Highly anomalous copper assays occur at the weathering interface and are interpreted to be hydromorphic dispersion up the fault from nearby primary copper mineralisation.
Results feature copper, silver and palladium anomalism including:
* 15m @ 0.17% Cu and 21.8g/t Ag from 69m to EOH; including 10m @ 0.23% Cu from 73m
* 9m @ 432 ppm Cu and 4.7g/t Ag from 65m (23PTAC0108) o including 7m @ 24.7 ppb Pd from 67m
Next Steps
Further aircore drilling will be completed on sections north and south of the 2023 drilling at BM5 to determine the extent of the copper-silver-palladium anomaly.
Diamond drilling will commence at Fishhook to test interpreted first reductant trap sites for copper mineralisation.
This programme will be augmented by additional aircore drilling at three other nearby copper targets where interpreted first reductant trap sites are located near fold hinges.
Results from the drill programmees are expected to be reported in the December 2024 quarter.
