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Encounter Resources Mobilizes Two Drill Rigs at Western Australia Project; Shares Up 4%

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Encounter Resources (ASX:ENR) mobilized two drill rigs at the Aileron project in Western Australia as part of this year's exploration and pre-development program, according to a Tuesday filing with the Australian bourse.

The air-core rigs will undertake 30,000 meters of infill drilling at the Green prospect for a mineral resource upgrade for starter pit areas and 40,000 meters of regional exploration drilling to target further discoveries, the filing said.

A third rig will be mobilized to site to support pre-development activities in the coming months, per the filing.

Shares rose nearly 4% in midday trade Tuesday.

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