FINWIRES · TerminalLIVE
FINWIRES

Encounter Resources' Drilling at Western Australia Copper-Gold Prospect Suggests Mineralization to Strengthen at Depth, Euroz Hartleys Says

By

Encounter Resources' (ASX:ENR) latest drilling results at the Elsa prospect within the Lamil project in Western Australia indicate mineralization may strengthen at depth, highlighting the potential for a larger sulphide-rich copper-gold system and supporting further drilling, Euroz Hartleys said in a Monday note.

The latest copper results at Elsa include 18 meters at 0.45% copper from 96 meters, and gold results include six meters at 1.74 grams per tonne grade of gold from 94 meters.

"While grades are somewhat modest, they remain highly encouraging, providing an exploration focus for follow-up activities," the equity research firm said.

It added that Encounter Resources also reported geological similarities to the breccia-hosted Havieron deposit, suggesting the potential for a sizeable mineralized system.

Euroz Hartleys maintained a speculative buy rating on Encounter Resources with a price target of AU$0.85 per share.

The company's shares advanced 11% in recent Monday trade.

Related Articles

Asia

Cauldron Energy Receives Further Passive Seismic Interpretations at Yanrey Uranium Project; Shares Down 7%

Cauldron Energy (ASX:CXU) said Southern Geoscience has provided a further installment of processed passive seismic interpretations for its Yanrey Uranium Project in Western Australia, covering the Manyingee Southeast, Manyingee West, Ashburton East and Cosgrove locations, according to a Monday Australian bourse filing.The company said the most significant finding from the third installment is the delineation of a separate, previously undiscovered and untested arm of the Manyingee South palaeochannel, with passive seismic continuing to prove a cost-effective method for identifying the margins of palaeochannels and increasing drilling effectiveness.The company's shares fell almost 7% in recent Monday trade.

ASX:CXU
Asia

Infoline Tec Group Seeks Shareholder Nod to Acquire Buildings for New Head Office

Infoline Tec Group (KLSE:INFOTEC) is seeking shareholders' approval for its wholly-owned subsidiary, Infoline IT Solutions, to acquire two adjoining intermediate units from Huayi (SEA) and Orionis Technology, respectively, for a total of 18.6 Malaysian ringgit, according to a Monday filing to Bursa Malaysia.The investor approval will be sought at the upcoming extraordinary general meeting on Aug. 28.The company's shares were down nearly 6% in recent trade.The acquired units will be used to set up the company's new head office. Both acquisitions will be done on a 99-year lease up to Oct. 18, 2106.Infoline's board is also seeking shareholders' nod for a proposed employees' share option scheme (ESOS) covering up to 10% of issued share capital for eligible directors and employees. The scheme will be valid for five years with an option for a further five-year extension.

KLSE:INFOTEC
Asia

Hanwha Aerospace Secures Framework Supply Contract in South Korea

Hanwha Aerospace (KRX:012450) secured a framework contract with an unnamed entity to supply aerospace products, exceeding 2.5% of its most recent annual sales, according to a Monday filing with the Korea Exchange.The company said that the contract is subject to disclosure requirements, and the details of the agreement are withheld due to business confidentiality.

KRX:012450