IGO Limited has strengthened its presence in Western Australia’s Paterson Province by entering a joint venture (JV) with Encounter Resources to develop the Yeneena copper project, located just 60 km southwest of the Telfer gold-copper mine. The move boosts IGO’s landholding in the region, positioning it as the second-largest player, behind Rio Tinto.
The Paterson Province has attracted considerable attention from major mining companies, underscoring its potential for large-scale copper and gold discoveries. IGO believes the region, largely overlooked in the past, could harbor world-class copper deposits.
IGO first engaged with the Yeneena project in 2018, collaborating with Encounter to apply new exploration techniques that had not been tested in the area. These innovative methods proved successful, prompting IGO to further expand its footprint in the region through additional earn-in and joint venture agreements. Currently, IGO controls a 6671 km² tenure, second only to Rio Tinto’s Winu project in the area.
In 2024, IGO completed two diamond drill holes and 39 aircore holes at Yeneena, with results expected in early 2025.
“We are delighted to be working in joint venture with IGO to unlock the significant copper potential at Yeneena,” said Encounter executive chair Will Robinson. “The Paterson Province is a Tier 1 mining jurisdiction with a globally significant opportunity for new copper discoveries under shallow cover using cutting-edge exploration techniques.”
IGO has invested $15 million into exploration at Yeneena, securing a 70 percent interest in the project. The partnership’s agreement includes pro-rata funding for exploration, with an automatic conversion to a net smelter royalty if either party’s interest falls below 10 percent.
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