Antipa loads up Magnum

THE DRILL SERGEANT: Antipa Minerals (ASX:AZY)has received assay results for a Phase 1 diamond drilling program conducted at the company’s Magnum prospect in northern Western Australia.

The company has received assays results for seven diamond drillholes, which it said has extended gold-copper-silver mineralisation 400 metres to the north and 600 metres to the south of the existing Magnum mineral resource.


Magnum exploration corridor plan showing interpreted geology,
historic drilling and completed diamond drillholes and aircore traverses
including 2012 holes. Source: Company announcement


Antipa has already defined a maiden Inferred Mineral Resource at Magnum of 27.8 million tonnes at 0.5 grams per tonne gold, 0.3 per cent copper and 0.7 grams per tonne silver for total contained metal of 415,000 ounces of gold, 77,000 tonnes copper and 641,000 ounces of silver.

The drilling has also confirmed over 1.8 kilometres of strike with the Magnum prospect remaining open in all directions.

Highlights of the recent drilling campaign included:

–    1.38 metres at 1.72 grams per tonne gold, 6.79 per cent copper and 32.03 grams per tonne silver;

–    9.08m at 0.49g/t gold, 0.33 per cent copper and 0.95g/t silver, including 1.29m at 0.26g/t gold, 1.55 per cent copper and 5.21g/t silver and 1.28m at 3.19g/t gold, 0.60 per cent copper and 1.17g/t silver;

–    39.7m at 0.21g/t gold, 0.34 per cent copper and 1.03g/t silver, including 1.63m at 1.25g/t gold, 3.13 per cent copper and 9.44g/t silver and 0.99m at 2.07g/t gold, 0.54 per cent copper and 1.39g/t silver and 1.22m at 1.24g/t gold, 1.51 per cent copper and 5.43g/t silver; and

–    152.5 m at 0.17g/t gold, 0.22 per cent copper and 0.96g/t silver, including 3.52m at 0.99g/t gold, 1.63 per cent copper and 6.87g/t silver and 1.05m at 0.26g/t gold, 0.65 per cent copper and 2.21g/t silver and 0.89m at 0.27g/t gold, 0.55 per cent copper and 1.93g/t silver.

Antipa said the style of mineralisation the recent drilling intersected is similar to what it had previously encountered and that a number of drillholes have intersected gold-copper mineralisation beyond the limits of the Magnum surface electromagnetic conductivity anomaly.

The company considers the results to have demonstrated the large scale potential of the Magnum gold-copper-silver mineralisation, further expanding the project’s exploration upside.

“The structural review of the Magnum prospect is ongoing and Magnum remains an exciting exploration opportunity for Antipa,” Antipa Minerals managing director Roger Mason said in the company’s announcement to the Australian Securities Exchange.

“Magnum is open in all directions with copper sulphide and gold mineralisation persistent across more than 1.8 kilometres of strike, 600 metres east-west and open at depth below 550 metres.”

The company is continuing to conduct a technical review of the results from the 2012 Magnum program as well as those received from a Phase 1 exploration program carried out on the Corker prospect and is finalising the design of the second phase of its 2012 program.