NT an exploration hotspot after gold found

The Northern Territory could become home to Australia’s next gold rush with high-grade deposits discovered during recent exploration.

Resource companies have reported promising finds in the Barkly region while searching for gold at exploration sites near Tennant Creek.

The results support the case for a gold processing hub being built in the town of 3000 people, which is about 500km north of Alice Springs.

“Tennant Creek is one of Australia’s highest-grade gold districts,” Emmerson Resources chief executive Rob Bills said on Wednesday.

New NT government-supplied geoscience data has made the region an “exciting exploration hotspot” with multiple companies now prospecting.

Emmerson has partnered with Tennant Consolidated Mining Group following the discovery of gold beneath an area known for high-grade gold mineralisation.

It was likely to become the first new open-pit deposit in the area, Mr Bills said.

The companies hope to set up a processing mill in the Tennant Creek area.

Numerous other companies are also exploring in the Barkly region, including Newcrest Mining, Rio Tinto, Castile Resources, Encounter Resources and Inca Minerals.

There are 20 mining projects currently working towards a final investment decision in the Territory worth a combined value of $6.2 billion.

This could create 5700 construction jobs and 3400 ongoing jobs, NT Mining and Industry Minister Nicole Manison said.

“Our message is clear, if you are looking for the next resource or mining investment, come to the Territory,” she said.