International news within the industry of mining and metal, Jun, 26 2019
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Newcrest to fund explorations programs in Australia

Encounter Resources holds exploration tenure over 2,000 square kilometres of the Paterson Province in WA, which hosts several large gold and/or copper deposits such as Nifty, Winu and Newcrest’s own Telfer. Image courtesy of Encounter Resources.
Encounter Resources holds exploration tenure over 2,000 square kilometres of the Paterson Province in WA, which hosts several large gold and/or copper deposits such as Nifty, Winu and Newcrest’s own Telfer. Image courtesy of Encounter Resources.
Published by
Markku Björkman - 05 Apr 2019

Australia’s largest gold producer, Newcrest Mining (ASX: NCM), has committed to sole fund all of the 2019 exploration programs with junior Encounter Resources (ASX: ENR), covering the highly sought after gold regions of Tanami and West Arunta in Western Australia, wrote the Mining newly.

Newcrest, which has five joint ventures (JVs) with Encounter in the area, covering a total of 5,900 km2, will have the right to increase its interest in each JV to 80 per cent should the Sydney-based partner not elect to contribute on a 50:50 basis by sole funding exploration and delivering over one million ounces of gold.

The hunt is on for the next game-changing gold discovery in Australia

Encounter's managing director, Will Robinson, said the exploration boost provided by Newcrest would test several well-defined, advanced targets this year.

“The hunt is on for the next game-changing gold discovery in Australia,” he said to The Mining.