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Encounter Resources Limited (ASX:ENR)

ALERT: Price-sensitive ASX Announcement for ENR
Current share price for ENR : $0.240 -0.02 (-7.69%)+
Announcement
Release
19 May 2026 8:14AM
Price at Release
$0.260
Full Release
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Summary
Encounter Resources Limited announced the identification of a new copper zone at the Elsa prospect within the Lamil Copper-Gold Project in Western Australia. The initial assays from a reverse circulation (RC) drilling program revealed copper mineralisation at the far eastern end of the prospect, specifically in drill hole ETG262, which intersected 16 meters at 0.30% copper from a depth of 58 meters. This discovery, part of an EIS co-funded program, signifies an extension beyond the initial target area, prompting an expansion of the RC drilling from 6,000 meters to 9,000 meters to further explore the scale of the breccia system. Future efforts will include diamond drilling to assess depth extent. Upcoming activities involve completion of the RC program in May 2026 and further assay results expected within 4-6 weeks, with additional drilling at other prospects planned for June 2026.
Key Points
  • New copper zone identified at the Elsa prospect, Lamil Project.
  • First assays show 16m @ 0.30% Cu at the end of a drill line.
  • RC drilling program expanded from 6,000m to 9,000m.
  • EIS co-funded RC program with 36 holes drilled to date.
  • Diamond drilling planned to assess depth extent of breccia.
  • Upcoming activities include completion of RC program and further assays in May 2026.
  • Additional RC/diamond drilling at Yeneena prospects scheduled for June 2026.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.