PERTH (miningweekly.com) – Junior Encounter Resources has generated and secured two new project opportunities that were being assessed by gold miner Newcrest Mining under an existing project generation alliance.
Newcrest and Encounter in December of last year agreed to the project generation alliance, which would see the companies enter into a 50:50 joint venture (JV) over any project approved for further exploration.
Encounter would have the option to maintain its 50% contributing interest in approved projects by co-funding its share of exploration expenditure.
The Aileron and Phillipson projects are now being assessed under the agreement, with Encounter telling shareholders on Wednesday that both projects were genuine first mover opportunities in regions that were opening up to mineral exploration.
“The Phillipsons tenement was pegged over a standout geochemical anomaly following the release of the new geological survey of Western Australia pre-competitive geochemical dataset,” said Encounter MD Will Robinson.
“Aileron is a high amplitude, interpreted, sub-vertical magnetic pipe-like body with scale, context and significant potential. Both new projects are the sort of large scale frontier, first mover opportunities that are highly sought after by major mining companies.”