IGO pulls out of WA copper mining JV with Encounter Resources
Encounter Resources has announced the full reacquisition of the Yeneena copper-cobalt project in Western Australia, following IGO’s exit from their joint venture (JV) agreement.
The Yeneena project, spanning more than 1,450km², is situated in the resource-rich Paterson Province and is known for its significant copper potential.
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Located near established mines, Yeneena is 60km south-west of the Telfer copper-gold mine and south of the Nifty copper mine.
During the six-year partnership, IGO invested approximately A$15m in exploration activities including drilling and geological surveys.
Encounter Resources will now utilise the extensive dataset to determine the next steps in exploring the project.
Encounter Resources executive chairman Will Robinson said: “The return of the Yeneena Copper Project comes at a time of strong demand for Tier 1 copper opportunities. With renewed control, we are 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.
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By GlobalData“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. We thank the IGO team for their collaborative and professional contribution over the past six years.”
The company’s immediate focus will be on the BM1 high-grade copper oxide discovery and the BM5 copper leakage anomaly.
Encounter plans to reassess the BM1 copper oxide zone using updated geological models and explore the potential for resource definition of the high-grade oxide mineralisation.
Furthermore, Encounter will conduct follow-up drilling at BM5 to investigate the source of the copper-silver-palladium anomalism identified in previous aircore programmes.
The insights from the accumulated data will shape future drilling campaigns and the overall exploration strategy at Yeneena.
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