Newcrest Mining (OTCPK:NCMGF -2%) will fund all of the 2019 exploration programs with junior Encounter Resources, covering gold regions of Tanami and West Arunta in Western Australia.

Newcrest, which has five joint ventures with Encounter in the area, will have the right to increase its interest in each JV to 80%, unless Newcrest does not elect to contribute on a 50:50 basis by sole funding exploration and delivering over 1M ounces of gold.

Previously: Newcrest Mining to buy Canadian mine from Imperial Metals for $806M (March 11)