Newcrest Mining (ASX:NCM) has announced its alliance with Encounter Resources has been extended for a further 12 months.
The companies entered the Project Generation Alliance in July last year to identify new mining opportunities in Western Australia.
Encounter says the initial 12 month period of the project was highly successful and led to the creation of five separate unincorporated joint ventures between the companies.
The projects cover over 4000 square kilometres of the Tanami Gold Province and West Arunta.
Encounter Resources says the company hopes to build on the five joint ventures already established with the potential to host major and giant gold deposits.
Shares in Newcrest Mining (ASX:NCM) closed 0.25 per cent higher at $20.09 on Friday