CAPITAL MARKETS

Maiden 10Mlb resource for Encounter

SHARES in uranium explorer Encounter Resources jumped 18% today after the company announced a 10 ...

Kristie Batten

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The initial inferred resource estimate is 27.6 million tonnes, averaging 174 parts per million uranium for a contained 10.6Mlb or about 4800t contained uranium.

The main mineralised zone at Hillview is 7km long by 1.4km wide, with an average thickness of 3.15m. The entire uranium resource is within 15m of the surface.

The resource is a flat-lying, consistent body of mineralisation with minimal internal dilution.

The Hillview project, in which Avoca Resources earns a 20% interest, is one of a number of uranium and base metal prospects Encounter has in Western Australia.

Shares in Barra Resources were up 18% or 4.5c to 29.5c today.

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