IGO exits Yeneena JV, returns copper project to Encounter
Exploration junior Encounter Resources has regained full ownership of the Yeneena copper project in Western Australia's Paterson province after IGO withdrew from their six-year farm-in and joint venture (JV) agreement.
Yeneena, which spans more than 1 450 km², is located 60 km south-west of the Telfer copper/gold mine – recently acquired by Greatland Gold from Newmont – and south of the Nifty copper mine, owned by Cyprium Metals in partnership with Glencore. The region is one of Australia’s most prospective for copper and gold, hosting major deposits including Rio Tinto’s Winu, Greatland’s Havieron, and Antipa Minerals’ Minyari Dome.
IGO invested about A$15-million in exploration at Yeneena over the life of the agreement, including diamond and aircore drilling, and large-scale geophysical, geochemical, and geological surveys. That work returned several notable copper intercepts, such as 20 m at 2.0% copper from 22 m including 12 m at 3.2% from 32 m, 10 m at 6.8% copper from 32 m including 2.8 m at 12.3% from 32 m, and 18 m at 3.2% copper from 32 m including 9 m at 6.0% from 37 m.
Encounter will now assess the extensive technical data to prioritise the next phase of exploration, including advancing the high-grade BM1 copper zone and drill testing a large copper leakage anomaly at the BM5 prospect.
“The return of the Yeneena copper project comes at a time of strong demand for Tier 1 copper opportunities,” said executive chair Will Robinson. “With renewed control, we’re evaluating the high-quality data generated under the farm-in, with plans to advance exploration at the high-grade BM1 copper zone and targets defined at BM5.”
“While Yeneena presents compelling copper upside, our West Arunta niobium project remains a core strategic priority, reflecting the strength and balance of Encounter’s project portfolio,” he added. “We thank the IGO team for their collaborative and professional contribution over the past six years.”
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