The world’s largest resources company has begun diamond drilling at Encounter Resources’ Elliott copper project in the Northern Territory.
The company said the earn-in and joint venture agreement with BHP was an indication of how the NT was fast emerging as one of the most significant global opportunities for the discovery of new, large sediment-hosted copper.
The exploration program is operated and funded by BHP and includes planned deep diamond drilling and seismic surveys.
Encounter managing director Will Robinson said the current diamond program of about 2000 meres is designed to advance the understanding of basin architecture and prospective deposition locations for sediment-hosted copper deposits.
He said before the end of November, Encounter’s project partners would complete diamond drill programs at two projects: the BHP-funded program at Elliott, and an IGO-funded 4500m program at the Yeneena Project in the Paterson Province in Western Australia.
The Elliott project was the first project secured by Encounter in the NT and now extends over more than 7200 square kilometres. The project is readily accessible being located 200km north of Tennant Creek on the Stuart Highway which runs along the western margin of the project area.
BHP has the right to earn up to a 75 per cent interest in Elliott by sole funding up to $25 million of expenditure within 10 years.
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