Encounter Resources Accelerates Copper Hunt with New Geophysics at Jessica Project

Exploration Momentum Builds at Jessica Copper Project

Encounter Resources Limited (ASX, ENR) has announced a significant escalation in its exploration activities at the Jessica Copper Project, located in the Northern Territory. The project, operated under a farm-in agreement with South32 Limited, is now entering a critical phase with a comprehensive geophysical program already underway and drilling planned for later this year.

The Jessica Project spans approximately 8,700 square kilometres along key structural corridors east of Tennant Creek, an area known for its prospective sediment-hosted copper and Iron Oxide Copper-Gold (IOCG) deposits. The recent focus has been on the Zeta target, a discrete gravity and magnetic anomaly interpreted to be associated with a large intrusive body, which is a classic setting for IOCG mineralisation.

Advanced Geophysical Surveys Targeting Deep Mineralisation

In 2025, Encounter has commenced a MIMDAS geophysical survey at Zeta, designed to detect less conductive bodies at depth, which are typical of IOCG deposits. This technique complements previous seismic reprocessing and gravity surveys that helped define drilling targets. Following this, a large-scale airborne electromagnetic (AEM) survey covering 2,640 line kilometres is scheduled for August to September, co-funded through the Northern Territory Geophysics and Drilling Collaborations program.

These surveys aim to refine the understanding of subsurface structures and identify anomalies that could host significant copper-gold mineralisation. The integration of these datasets is expected to enhance targeting precision ahead of the planned diamond drilling campaign starting in October 2025.

Encouraging Early Drilling Results and Strategic Tenure Expansion

Previous drilling at Zeta in 2023 intersected zones of hematite alteration and quartz carbonate veining containing chalcopyrite and bornite; key IOCG indicators. These findings support the interpretation of a distal alteration signature to a potential IOCG system, bolstering confidence in the project's prospectivity.

In addition, Encounter has lodged an application for new tenure (ELA34124) to cover lateral extensions of key structures identified in the 2024 drilling program. This strategic move aims to secure ground that could host extensions of mineralised zones, ensuring continuity of exploration efforts along prospective corridors.

Looking Ahead, Anticipation Builds for 2024 Drilling Results

Results from the 2024 drilling program, which tested targets in the eastern part of the Jessica Project, are expected to be released in August 2025. These results will be pivotal in guiding the next stages of exploration and could significantly influence the project's valuation and development trajectory.

Encounter’s Executive Chairman, Will Robinson, emphasised the potential of the Jessica Project, highlighting the combination of geological, geophysical, and drilling data that points to a compelling IOCG target. With South32’s backing and a robust exploration plan, the company is well positioned to advance this frontier copper project.