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Roadhouse Roadshow Brings Melbourne Punters Together

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CONFERENCE CALLER: The Resources Roadhouse presented its inaugural Roadhouse Roadshow this week.

The Roadhouse welcomed punters to the auspicious surrounds of the Kelvin Club in the Melbourne CBD to listen to presentations from four ASX-listed companies.

Encounter Resources (ASX: ENR) executive chairman Wil Robinson provided plenty of food for investment thought giving an insightful look at the company’s large portfolio of 100 per cent-owned projects in one of Australia’s exciting mineral provinces considered prospective for copper and critical minerals including the Aileron project in the West Arunta region of Western Australia.

Encounter Resources executive chairman Wil Robinson presenting to the Kelvin Club throng

Adelong Gold (ASX: ADG) managing director Ian Holland explained how his company is on track to becoming a mineral producer at the company’s Adelong Goldfield project in New South Wales as well as giving a brief look at its new lithium project in Brazil.

Bass Oil (ASX: BAS) managing director Tino Guglielmo steered the room on an oil & gas tack explaining the benefits the company is earning as an oil producer with majority interest in eight permits in the Cooper Basin of Australia that includes the 100 per cent-owned Worrior and Padulla oil fields.

Alto Metals (ASX: AME) managing director Matthew Bowles closed the day’s presentations by enlightening attendees on the company’s aspirations for the shallow, open pit gold resource of 17.6 million tonnes at 1.5 grams per tonne gold for 832,000 ounces across its Sandstone Gold Project in Western Australia.

Punters and presenters alike, left the day with a sense of either having learned something new to think about or having met a new set of prospective investors that showed much interest after the formal part of proceeding was complete.

There will be more Roadhouse Roadshows in the future. Keep an eye out for these as they arise.

Roadhouse Presenting Diverse Program to Melbourne Investment Community

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THE CONFERENCE CALLER: The Resources Roadhouse will be in Melbourne next week presenting our inaugural Resources Roadhouse Roadshow. Here’s a quick bite of two of the companies that will be presenting.

Encounter Resources (ASX: ENR) controls a large portfolio of 100 per cent-owned projects in one of Australia’s exciting mineral provinces considered prospective for copper and critical minerals including the Aileron project in the West Arunta region of Western Australia.

Encounter recently completed a $10.5 million placement, the funds from which have been earmarked to accelerate and expand the company’s upcoming drill program at Aileron project.

The drilling will pick up from results and modelling from the company’s 2023 exploration campaign that confirmed the presence of shallow, high-grade niobium-REE mineralised carbonatites at several prospects and the discovery of large-scale primary niobium-REE carbonatite-hosted mineralisation within a five kilometre corridor.

Elsewhere in the company portfolio, Encounter reported assays from two drill holes completed at the Zeta target at the Jessica copper project in the Northern Territory confirming the presence of copper sulphide bearing veins and alteration signatures associated with iron oxide copper gold (IOCG) style mineralisation.

“The NT has significant untapped copper potential which has been recognised by numerous major resources companies,” Encounter Resources managing director Will Robinson said.

“Located in a previously unexplored region of the NT, the first holes drilled at Zeta targeted large magnetic and gravity anomalies.

“Both holes intersected red-rock hematite alteration and copper associated with quartz–carbonate veining which is interpreted as a distal alteration signature to a potential IOCG style mineral system.”

The Jessica project is subject to a Joint Venture with South32, which has the right to earn a 60 per cent interest in the project via sole funding $15 million of exploration expenditure within 10 years.

 

Bass Oil (ASX: BAS) is an oil producer with majority interest in eight permits in the Cooper Basin of Australia that includes the 100 per cent-owned Worrior and Padulla oil fields.

The company is also in Indonesia where it holds a 55 per cent interest in the Tangai-Sukananti KSO, which it acquired in 2017 instantly transforming Bass Oil into a profitable oil producer in a prolific oil and gas region.

Bass Oil’s Tangai-Sukananti KSO 2P Reserves as at 31 December 2023 were assessed to be 0.741 million barrels of oil with production expected to continue until 2032.

In 2023 Bass secured a 10 year licence extension for the KSO which now expires in September 2035.

In October 2022 Bass completed the acquisition of its portfolio of Cooper Basin assets.

These included a 100 per cent interest in the producing Worrior and Padulla oil fields that, as of January 2024, are producing approx. 100 barrels of oil per day (bopd) at a gross profit margin of around $64 per barrel at a Brent oil price of around US$80.

The fields provide 2P reserves of almost 366,000 barrels of oil and 2C contingent resources of approximately 582,000 barrels of oil.

The portfolio also contains properties that host prospective appraisal and exploration opportunities.

Bass Oil owns a high equity stake (74%-100%) in fifteen Cooper Basin licences, representing one of the largest acreage holdings in the core of the Cooper Basin covering a cumulative area of approximately 1,900 square kilometres.

 

Encounter Resources Meets Copper Sulphides in First Drilling at Jessica IOCG Project

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THE DRILL SERGEANT: Encounter Resources (ASX: ENR) has been encouraged by copper hits from the first two drill holes completed at the Zeta target at the company’s Jessica copper project in the Northern Territory.

The Jessica project deposits is being explored under a farm-in agreement with South32 and covers some 10,300 square kilometres along structural corridors east of Tennant Creek and is considered prospective for sediment-hosted copper and IOCG style.

Two diamond drill holes have been completed at the Zeta target a coincident gravity and magnetic anomaly associated with a discrete seismic reflector.

Encounter reported first drilling at Zeta has intersected a number of key IOCG indicators including:

Chalcopyrite/bornite in thin quartz-carbonate veins;
Intense and pervasive red rock hematite alteration; and
Bimodal felsic volcanic-basalt sequences (indicating a major, long lived structure).

“South32, our farm-in partner at Jessica, has informed us that observations from the first drill holes at the Zeta target have provided encouragement for the targeted IOCG copper model,” Encounter Resources managing director Will Robinson said in the company’s ASX announcement.

“In a previously unexplored region of the NT, both holes drilled have intersected red-rock hematite alteration together with copper sulphides contained in quartz–carbonate veins.

“The 6,500 metres diamond drill program at Jessica/Carrara is ongoing with drilling to continue through to November 2023.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Encounter Resources Intersects Mineralised Carbonatites at West Arunta

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THE DRILL SERGEANT: Encounter Resources (ASX: ENR) reported drilling news from the company’s 100 per cent-owned Aileron critical minerals project in the West Arunta region of Western Australia.

Encounter Resources recently completed three diamond drill holes (EAL001, EAL007 & EAL008) that intersected the Elephant Island Fault at the Crean and Hoschke (formerly Worsley) targets with all hitting niobium-REE mineralised carbonatites.

The three holes cover a strike extent of 3.5 kilometres.

The company reported mineralised carbonatite remains open to the east and west and is increasing in width to the east.

The first diamond hole (EAL001) was completed at Hoschke and intersected a niobium-REE mineralised carbonatite which returned an assay result from a 24.8m interval of

16 metres at 0.6 per cent dinitrogen pentoxide (N2O5) and 0.2 per cent total rare earth oxide (TREO), including 402ppm neodymium and praseodymium (Nd+Pr) from 350m.

Two further RC pre-collars and diamond holes (EAL007 & EAL008) were completed at Crean, stepping out a further 2km and 3.5km to the east of EAL001.

“The West Arunta continues to emerge as a critical minerals province with the intersection of mineralised carbonatites in three drillholes over a strike length of 3.5 kilometres at Aileron,” Encounter Resources managing director Will Robinson said in the company’s ASX announcement.

“The first hole at Aileron, EAL001, was targeting a high amplitude magnetic anomaly, which it successfully intersected, before also intersecting a niobium-REE bearing primary carbonatite dyke.

“We were able to get structural measurements from the dyke to confirm it was striking east-west so two additional holes were drilled along the Elephant Island Fault to the east at Crean.

“Both holes contain zones of shallow oxidised and fresh carbonatite that returned anomalous niobium-REE on a handheld pXRF and the carbonatite units appear to be increasing in width to the east.

“Systematically testing the Elephant Island Fault for further zones of near surface, enriched mineralisation is a priority objective for the upcoming RC program.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Encounter Resources Raises $10M to Accelerate West Arunta Exploration

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THE BOURSE WHISPERER: Encounter Resources (ASX: ENR) has bolstered its coffers after receiving firm commitments for a placement to raise $10 million at 25 cents per share.

Encounter Resources said the raising demonstrated a strong endorsement of the current exploration programs underway at the company’s 100 per cent-owned Aileron IOCG and Critical Minerals project in the West Arunta region of Western Australia.

The company indicated the funds will primarily be put towards an accelerated exploration program at the Aileron that will entail geochemistry covering new gravity targets, geophysics as well as RC and diamond drilling.

Elsewhere copper, REE and lithium exploration will be undertaken at Encounter’s projects in the Northern Territory and Western Australia.

“The limited exploration to date in the West Arunta has shown that the region is highly prospective for the formation of IOCG and carbonatite-hosted critical mineral deposits under shallow cover,” Encounter Resources managing director Will Robinson said in the company’s ASX announcement.

“This funding will allow us to accelerate activities across the West Arunta which has the hallmarks of a new copper and critical minerals province in Australia.”

 

 

Encounter Resources Identifies New REE Projects near Laverton in WA

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THE DRILL SERGEANT: Encounter Resources (ASX: ENR) has joined the ranks of rare earth element (REE) aspirants by announcing it has secured 100 per cent of projects in the Laverton region of Western Australia.

Encounter Resources REE tale began in 2009, when the company conducted aircore drilling near Lake Irwin located north-west of Laverton following up a gold trend it had identified in auger drilling.

This program intersected anomalous REE in a felsic intrusion below a sequence of transported sands and clays.

At the time, only the lower portions of the holes, close to the cover/basement geological boundary, were analysed for REE, from which REE anomalism was identified that included 6 metres at 0.55 per cent total rare earth oxide (TREO) from 74m to end of hole in ELI0118, which was one of the deepest holes in the program.

With the historical drilling in mind, Encounter carried out an evaluation of regional geophysicsthat highlighted a series of anomalies it has interpreted to be intrusions.

In late 2022, Encounter applied for four tenements (approx. 800sqkms) to cover the REE targets identified at Irwin.

“The Encounter generative team has a well-established track record of moving early into new mineral belts,” Encounter Resources managing director Will Robinson said in the company’s ASX announcement.

“We were early to identify copper opportunities in the Greater McArthur Superbasin in the NT and a BHP and South32 have joined us as project partners.

“Encounter also moved early into the emerging West Arunta region where mineralised carbonatites have been discovered recently.

“REE projects have mounting strategic and economic importance for Australia.

“The confirmation of undercover REE mineralisation in historical drilling has important regional implications.

“Particularly given that the region contains the world-class Mt Weld REE mine.

“A series of geophysical anomalies have been identified and ground truthing of these anomalies has commenced.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE