Encounter Resources (ASX: $ENR) announces copper mineralisation at Jessica project

Encounter Resources Limited (ASX: $ENR) has reported the confirmation of copper mineralisation in an iron oxide copper gold (IOCG) setting at the Zeta target within the Jessica Copper Project in the Northern Territory. The initial drilling at Zeta, which is a coincident gravity and magnetic anomaly associated with a discrete seismic reflector, has intersected copper sulphide bearing veins and intense red rock hematite alteration, indicating the presence of IOCG style mineralisation.

Executive Commentary on Zeta Assay Results

Encounter Managing Director Will Robinson commented, 'The NT has significant untapped copper potential, recognized by numerous major resources companies. The first holes drilled at Zeta targeted large magnetic and gravity anomalies, intersecting red-rock hematite alteration and copper associated with quartz-carbonate veining, interpreted as a distal alteration signature to a potential IOCG style mineral system. Geophysics is used extensively to define mineralisation in IOCG systems, and a deep seeking MIMDAS geophysical survey could focus the next phase of targeted drilling at Zeta.'

Summary of Zeta Assay Results and Future Prospects

The assays from the two drill holes at Zeta confirm the presence of copper sulphide bearing veins and alteration signatures associated with IOCG style mineralisation at the Jessica Copper Project. The company is evaluating a deep seeking MIMDAS geophysical survey to identify potential mineralised zones at Zeta, with assay results from six further diamond drill holes expected in the June 2024 quarter. Encounter's farm-in agreements with South32 Limited subsidiary for the Jessica and Carrara projects indicate a positive outlook for further exploration and development. The company's focus on discovering major copper deposits in Australia aligns with the untapped potential in the Northern Territory, presenting opportunities for future growth and expansion.