Encounter Resources Launches Strategic Review of Copper Assets

MT Newswires Live08-20 08:57

Encounter Resources (ASX:ENR) launched strategic review of its copper assets in Western Australia and the Northern Territory, according to a Thursday filing with the Australian bourse.

The review will evaluate alternative corporate structures and new partnerships to maximize the value of the copper assets, per the filing.

The review comes amid continued momentum across the company's copper portfolio, with recent reverse circulation drilling at the Yeneena project in Western Australia extending shallow copper oxide mineralization at the Parbo copper system, Encounter said.

Results include 16 meters at 0.5% copper from 32 meters; 20 meters at 0.4% copper from 36 meters; and 12 meters at 0.4% copper from 42 meters, per the filing.

The company's shares gained 2% in recent Thursday trade.

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