Mungana teams up with Newcrest to explore North Queensland project

Gold major Newcrest Mining would spend up to A$20-million over an eight-year period at ASX-listed Mungana Goldmines’ Chillagoe project, in North Queensland, under a newly signed exploration agreement. The two companies this week inked an agreement that required Newcrest to spend an initial A$3-million over the first 18 months of the agreement, and would have the option to sign a farm-in agreement to spend a further A$17-million over a 78-month period.