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Encounter Resources and South32 are preparing to conduct a significant drilling program at the Jessica copper project in the Northern Territory. The joint venture will execute 4,000 metres of RC drilling and 2,000 metres of diamond drilling to explore targets identified from Encounter's CY25 geophysical surveys.

The companies have expanded their farm-in agreement by adding 685 sq. km of new acreage. Final design of the drilling program is expected in Q1 2026, with drilling scheduled for Q2 2026, and a regional MT survey planned for Q3 2026.