Newcrest Mining has extended its project generation alliance with Encounter Resources by 12 months.
The alliance, first launched over a 12-month period in July 2017, has already formed five exploration joint ventures covering 4400km2 in the Tanami and West Arunta in Western Australia.
It plans to strengthen this relationship over the coming year, according to Encounter managing director Will Robinson.
“We hope to build on the five joint ventures already established which provide Encounter with significant leverage to a pipeline of projects with the potential to host major and giant gold deposits,” Robinson said.
The five JVs — Selby, Watts, Lewis, Phillipson and Aileron — have been established on a 50:50 basis.
Newcrest is managing each exploration JV. Encounter can maintain its 50 per cent interest in the JVs by contributing a share of the exploration funds.
If a mining decision is made at any of the projects, Encounter will also have the opportunity to be part of a production JV.
Newcrest has been aggressive in its hunt for gold resources in northern Australian over the past year.
Earlier this month, Newcrest signed a farm-in agreement with Prodigy Gold at the Euro gold project in the Tanami region of the Northern Territory.
The miner also secured a $12-million, seven-year, exploration agreement with ABM Resources in the Tanami, Northern Territory during May.