Newcrest Mining is assessing two new exploration opportunities with Encounter Resources as part of their project generation alliance.
The two companies formed the alliance to identify new mining opportunities last July. Newcrest agreed to provide Encounter up to $500,000 over the following 12 months to generate opportunities within an alliance area.
According to Encounter, the Aileron project in the West Arunta region and two tenements at the Phillipson Range project in the Tanami region have been added to the alliance.
The Aileron project is an iron oxide copper gold (IOCG) style target with a discrete magnetic anomaly consistent with the scale of the Ernest Henry or Carrapateena properties.
Meanwhile, the Phillipson Range tenements have been secured on a first-mover basis following release of a regional-scale geochemical soil survey completed by the Geological Survey of Western Australia (GSWA).
Encounter managing director Will Robinson described Aileron and Phillipson as “genuine first mover opportunities” in regions that are opening up to mineral exploration.
“The Phillipson tenement was pegged over a standout geochemical anomaly following the release of a new GSWA pre-competitive geochemical dataset,” Robinson said.
“Aileron is a high amplitude, interpreted sub-vertical magnetic pipe-like body with scale, context and significant potential.”
Robinson said both projects are the sort of large-scale frontier, first-mover opportunities highly sought after by major mining companies.