Encounter Resources Limited announced that it has regained full control of the Yeneena Copper project in the Paterson Province following the withdrawal of IGO Limited from their joint venture agreement. With IGO’s exit, the company now owns 100% of the large-scale copper-cobalt project, which spans over 1,450 square kilometers in northern Western Australia. The project is strategically positioned near major deposits such as the Telfer copper-gold mine and the Nifty copper mine, enhancing its prospectivity in a highly mineralized region known for significant copper and gold deposits. The release detailed promising exploration results from two primary targets within the Yeneena project. The BM1 high-grade copper oxide zone, initially discovered in 2010, has delivered several strong drill intersections, including 20 meters at 2.0% copper (with 12 of those meters at 3.2% copper), 10 meters at 6.8% copper (with 2.8 meters at 12.3% copper), and 18 meters at 3.2% copper (with 9 meters at 6.0% copper). In addition, the BM5 area has shown significant anomalies through aircore drilling, with intersections highlighting copper, silver, and even traces of palladium. One notable result at BM5 was 15 meters recording 0.17% copper along with high silver grades, indicating potential for a deeper primary copper source linked to a regional fault and syncline structure. Encounter Resources Limited will now take a closer look at the extensive technical and geochemical dataset generated during the previous farm-in period. The company plans to reassess the BM1 zone with updated geological models to explore possible extensions into the primary sulphide domain, while BM5 will see follow-up drilling aimed at testing the source of the widespread copper-silver-palladium anomaly. This deliberate focus on high-quality data and a dual-target exploration strategy underscores the company’s commitment to unlocking further value from its portfolio. The news carries mixed sentiment cues. On the bullish side, regaining full control of a project with robust technical data and strong grade intersections offers considerable upside potential, particularly as global copper demand remains strong. The detailed data and clear future drilling targets provide a foundation for scaling production and resource definition, making the project an attractive tier-1 copper opportunity. However, from a bearish perspective, the early-stage nature of the exploration means that there is still significant technical and operational risk. Uncertainties remain regarding the true extent and continuity of the mineralisation, and further drilling will be required to fully validate the resource potential. Overall, the renewed control of Yeneena, combined with a fresh strategic approach based on rich technical datasets, positions Encounter Resources Limited to capitalize on its copper assets while highlighting the inherent exploration risks that still need to be addressed.