Encounter Resources (ASX: ENR) should trade higher this morning after intersecting copper sulphide mineralisation in all four diamond drill holes at the BM7 prospect, which is part of the Yeneena project in Western Australia.
The strongest copper sulphide mineralisation was intersected in EPT1719, which was the last of the four hole program.
This zone extended over approximately 5 metres, with locally massive copper sulphides forming as breccia cement near the upper boundary of a narrow carbonate unit.
There is the potential for the discovery of more mineralisation with the system remaining open along strike.
BM7 is strategically located 65 kilometres SE of the Nifty copper mine, and is hosted within sediments of the Broadhurst Formation - in a similar geological setting to the Nifty. Newcrest's (ASX: NCM) Telfer gold/copper deposit is 30 kilometres SW.
Exploration at the BM7 prospect being conducted as part of the Antofagasta (LON: ANTO) earn-in agreement. Antofagasta is one of the world’s largest copper producers and explorers and has a market cap. of over $8 billion.
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