Encounter Resources (ASX:ENR) has intersected copper mineralisation in an IOCG setting at the Zeta target in the first drilling activity at in a farm-in campaign with South32 at the Jessica project in the Northern Territory.
Highlights:
- The first two drill holes completed at the Zeta target, drilled 1.3km apart, at the Jessica Copper Project provide support for the targeted IOCG deposit model
- Zeta is a coincident gravity and magnetic anomaly associated with a discrete seismic reflector. Encouragingly, the first drilling has intersected a number of key IOCG indicators including: Chalcopyrite/bornite in thin quartz-carbonate veins; Intense and pervasive red rock hematite alteration; and Bimodal felsic volcanic-basalt sequences (indicating a major, long lived structure).
- These were bold, conceptual drill holes in a new area which have highlighted the IOCG prospectivity of this region
- Geophysical techniques are being evaluated to vector into the best parts of the mineral system at Zeta
- Jessica is being explored under a farm-in agreement with South32
South32, our farm-in partner at Jessica, has informed us that observations from the first drill holes at the Zeta target have provided encouragement for the targeted IOCG copper model,” Encounter Managing Director, Will Robinson, said.
“In a previously unexplored region of the NT, both holes drilled have intersected red-rock hematite alteration together with copper sulphides contained in quartz–carbonate veins. The 6,500m diamond drill program at Jessica/Carrara is ongoing with drilling to continue through to November 2023.”
Background
Jessica covers ~10,300 sq. km along key structural corridors east of Tennant Creek and is prospective for sediment-hosted copper and IOCG style deposits.
Reprocessing of seismic data that extends through Jessica was completed by HiSeis, to provide greater detail of the geology and structure in the upper 1,000m. A two km spaced gravity survey was also completed with 1km spaced gravity infill data collected over a series of high priority magnetic targets.
The seismic reprocessing and gravity surveys have identified a series of targets for drilling including the Zeta IOCG target. Zeta is a significant and discrete gravity feature coincident with a prominent magnetic feature on the margin of a large interpreted intrusive body. In addition, there is a discrete seismic reflector immediately underlying Zeta.
Next Steps
The red rock alteration and copper mineralisation in Z23DD002, in addition to the mineralised veins containing chalcopyrite + bornite, intersected within similar geology in Z23DD001 represent an encouraging start to exploration at Jessica.
Assay results from the holes are expected in the December 2023 quarter. Geophysical techniques are being evaluated to vector into the best parts of the Zeta mineral system.
The 6,500m diamond drill program at Jessica/Carrara is ongoing through to November 2023.
