JOHANNESBURG (miningweekly.com) – Australian gold major Newcrest Mining will provide A$500 000 in funding to exploration company Encounter over the next 12 months to look for projects in northern Western Australia.
The companies on Friday announced their project generation alliance, which will use Encounter’s project team to identify new camp scale exploration and potential future production opportunities.
The alliance area excludes any ground that Newcrest or Encounter currently have a direct or indirect interest in or is under application by Newcrest or Encounter. The area also contains an exclusion zone and specifically excludes projects around the Telfer mine in the Paterson province.
The companies will enter into a 50:50 joint venture over any project approved for further exploration by both parties to the alliance.