BHP making moves to sure up Copper supplies not far from CCZ.
BHP and Encounter have entered into an Option Agreement covering the 4,500km2 Elliott Copper Project (“Elliott”) in the Northern Territory (“NT”) • Option Agreement provides BHP with the right, following the completion of a jointly designed validation program, to enter an earn-in and joint venture agreement to earn up to 75% interest in Elliott by spending up to $22 million over 10 years • Elliott represents a compelling first mover copper opportunity in a high quality jurisdiction:
LocateatamajorstructuralintersectiononthesouthwesternmarginoftheBeetalooBasin o Contains the key conceptual criteria for the formation of sedimentary copper with the target sequence being undercover and untested o Standout copper-in-groundwater anomaly which is supported by surface geochemical sampling at Elliott • Elliott was first identified by analysing new datasets generated by Geoscience Australia, as part of the Federal Government’s Exploring for the Future Program • Encounter retains 100% control of five other copper projects in the NT covering a further 10,300km2
CCZ Price at posting:
4.6¢ Sentiment: Buy Disclosure: Held
