Encounter Resources (ASX:ENR) said reverse circulation drilling assay results at its Aileron project in Western Australia defined two strike and depth extensive zones of continuous high-grade niobium mineralization, according to a Wednesday Australian bourse filing.
The results include intercepts of 30 meters at 2% grade of niobium pentoxide from 49 meters, part of 107 meters at 1.1% grade of niobium pentoxide, as well as 22 meters at 3.3% niobium pentoxide from 40 meters, part of 41 meters at 2.2% niobium pentoxide.
Sufficient high-grade mineralization was discovered to support accelerating resource definition drilling, metallurgy, and mining studies at the Green, Crean, and Emily prospects at the project, Will Robinson, the firm's executive chairman said.
The firm's shares closed down by 5% Wednesday.
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