Newcrest Mining (ASX:NCM) has inked a farm-in agreement with Prodigy Gold for its highly prospective Euro Project in the Northern Territory.
Under the deal Newcrest will provide $12 million in funding over seven years to ultimately earn up to a 75 per cent interest in the project.
The Euro Project covers almost 3500 square kilometres of exploration licenses and applications from the Tanami Region of the Northern Territory.
Newcrest and Prodigy are combining technical skills and intend to commence exploration during the third quarter of 2018.
Shares in Newcrest Mining (ASX:NCM) are trading 0.42 per cent higher to $21.45.