IGO has signed on to a new joint venture (JV) with Encounter Resources to progress the Yeneena copper project in Western Australia.
The JV will see IGO earn a 70 per cent interest in Yeneena, located in the 60km southwest of the Telfer gold-copper mine in the Paterson Province of WA.
“We are delighted to be working in joint venture with IGO to unlock the significant copper potential at Yeneena,” Encounter Resources executive chairman Will Robinson said.
The JV follows IGO’s sole $15 million funding in Yeneena, with each party contributing pro-rata funding for exploration expenditure.
The Paterson Province contains multiple large-scale copper-gold deposits such as Greatland Gold’s Havieron, Rio Tinto’s Winu deposit, and Antipa Minerals’ Minyari Dome deposit, making the spot a key area for exploration.
IGO completed two diamond drill holes and 39 aircore holes at Yeneena throughout 2024, with results expected in early 2025.
“The Paterson Province is located in a Tier 1 mining jurisdiction and represents a globally significant opportunity for new copper discoveries under shallow cover using leading edge exploration techniques,” Robinson said.
“We look forward to continuing to work closely with IGO to advance the copper potential at Yeneena in what is an exciting time for the Paterson Province.”
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