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Asia

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

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.

ASX:ENR
Asia

Encounter Resources Enters MOU on Lithium-Niobium Battery Development

Encounter Resources (ASX:ENR) entered a memorandum of understanding (MOU) with UK-based Echion Technologies and Western Australia-based Switch Technologies (WA) to collaborate on integrated lithium-niobium battery development, according to a Wednesday filing with the Australian bourse.The MOU will expand to include additional niobium anode battery users, such as logistics companies, mining fleet owners, original equipment manufacturers, data center developers, and niobium suppliers, the filing said.Encounter Resources shares rose 2% in afternoon trade on Wednesday.

ASX:ENR
Asia

Encounter Resources Makes 'Promising Start to Exploration' at Western Australia Copper Prospect, Euroz Hartleys Says

Encounter Resources (ASX:ENR) delivered "strong metallurgical test work results" from its Aileron project and has made a "promising start to exploration" at its Elsa prospect, both located in Western Australia, Euroz Hartleys said in a May 22 note.Initial metallurgical test work from the Green deposit in Aileron achieved niobium recoveries of 51% to 53% from head-grade feeds, while generating concentrate grades of up to 57% niobium pentoxide following refining, the investment firm said.The results show that "standard beneficiation and refining methods can be effectively applied, and importantly, the flowsheet is comparable to those used in existing niobium operations, reducing future development risks," Euroz Hartleys said.Meanwhile, first assays from ongoing reverse circulation drilling at the Elsa prospect intersected a new copper zone with 16 meters at 0.3% copper from 58 meters. Although the grades are modest, the result is still "highly encouraging at this early stage" and supports the presence of a broader system, the equity research firm said.Euroz Hartleys maintained a speculative buy rating on Encounter Resources with a price target of AU$0.85 per share.The company's shares gained 2% in recent Monday trade.

ASX:ENR
Asia

Encounter Resources Says Drilling at Western Australia Project Identifies New Copper Zone

Encounter Resources (ASX:ENR) said first assays from a reverse circulation drilling program at the Lamil copper-gold project in Western Australia identified a new copper zone east of the Elsa prospect, according to a Tuesday Australian bourse filing.The first drill hole of the program intersected 16 meters at 0.3% grade of copper from 58 meters.The drilling program was expanded from 6,000 meters to 9,000 meters. Diamond drilling at Elsa will follow the completion of the reverse circulation drilling program.

ASX:ENR
Asia

Encounter Resources Posts Strong Niobium Recovery in Western Australia Project Metallurgical Tests, Shares Fall 7%

Encounter Resources (ASX:ENR) said metallurgical test work for the Green deposit within its Aileron Project in Western Australia has returned recoveries of 51% to 53% on representative head grades of 2.2% to 2.8% niobium pentoxide, according to a Monday Australian bourse filing.The company said the test work achieved up to 57% niobium pentoxide concentrate grade post refining, an industry-standard result, with the flowsheet and results comparable to existing niobium operations, the filing added.Next steps include test work to produce ferroniobium and niobium oxide, as well as optimization work targeting enhanced recoveries and concentrate grade, it added.The company's shares fell 7% in recent Monday trade.

ASX:ENR
Asia

Encounter Resources' Updated Mineral Resource Estimate Confirms Aileron as 'Globally Significant' Undeveloped Niobium Deposit, Says Euroz Hartleys Niobium Deposit, Says Euroz Hartleys

Encounter Resources' (ASX:ENR) updated mineral resource estimate for its Aileron project in Western Australia confirms the project as a "globally significant" undeveloped niobium deposit, said Euroz Hartleys in a Wednesday note.The company on Wednesday said its combined, inferred mineral resource estimate at Aileron grew 54% to 120 million tonnes at 0.8% grade of niobium pentoxide.The research firm said the company continues to screen attractively on a resource basis compared with its peers, with meaningful scale now established at both bulk tonnage and high-grade subsets.Euroz Hartleys maintained its speculative buy rating on Encounter Resources and lowered its price target to AU$0.85 from AU$0.95.The company's shares rose almost 2% in recent Thursday trade.

ASX:ENR
Asia

Encounter Resources Upgrades Mineral Resource Estimate at Western Australia Project; Shares Climb 11%

Encounter Resources (ASX:ENR) said its combined, inferred mineral resource estimate at the Aileron project in Western Australia grew 54% to 120 million tonnes at 0.8% grade of niobium pentoxide, according to a Wednesday filing with the Australian bourse.The company said ongoing field operations at Aileron are targeting an upgraded resource classification of potential high-grade starter pit locations, as well as a further expansion of the niobium-rare earth element resource base.Encounter Resources highlighted "substantial upside" to the mineral resource estimate, with a pipeline of roughly 15 regional prospects to be drill tested this year.The company's shares gained more than 11% in recent Wednesday trade.

ASX:ENR

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