Encounter Resources Ltd (ASX: ENR) has commenced on ground exploration activity under the recently completed earn-in and joint venture agreement with IGO Limited the Yeneena Copper-Cobalt Project in the Paterson Province of WA.
Encounter Managing Director, Will Robinson, said Yeneena comprises a major land position covering more than 1,400 sq. km in the highly prospective Paterson Province, targeting copper-cobalt mineralisation.
We are delighted exploration is back underway in the Paterson Province of WA under the earn-in agreement completed with IGO in March 2020,” Mr Robinson said.
“The successful deployment of a number of modern exploration methodologies in 2019 has generated a suite of new targets at Yeneena.
“We look forward to now building on this targeting work and drill testing a number of these large-scale copper-cobalt prospects in the second half of 2020.”
In March 2020, IGO entered into earn-in and joint venture agreement following an extensive program of advanced geophysics and geochemistry completed in 2019. IGO can sole fund $15 million in exploration expenditure over a maximum seven years to earn a 70% interest in Yeneena.
During 2019, the exploration programme conducted at Yeneena effectively deployed several new technologies, including a large-scale magneto-telluric (MT) survey (~100 line-km) to better define the basin architecture and to further advance 3D targets.
Several broad, orientation surface sampling programs were completed in 2019 at Yeneena in areas where traditional geochemistry was considered ineffective. The innovative interpretation of this data has provided a potential breakthrough that may be applied to vast areas of prospective geology at Yeneena.
As a result of the learnings in the 2019 orientation surveys an extensive fine fraction soil sampling program has commenced at Yeneena. This will include the collection of more than 2,500 surface fine fraction samples over the next two months.
A line of MT surveying was also completed in the southwest of the project in 2019, crossing the Vines Fault in the west through to the Windsor Fault to the east, 2km north of the BM1 Prospect.
The MT has mapped conductivity anomalies to the west and east of the Windsor Fault that are interpreted to be Broadhurst Formation.
A high-powered ground moving loop EM survey is being deployed to further define the two conceptually compelling targets. Additional ground EM will be completed further north to help define targets highlighted along the McKay Fault.
A ground EM survey will also be completed at the Aria IOCG Prospect located in the northwest of Yeneena. A 3D audio-magnetotelluric (AMT) survey completed in 2019 highlighted a conductive feature within the interpreted breccia pipe which is untested by prior drilling. The planned ground EM survey has been designed to refine this conductive feature for drill testing.
