THE DRILL SERGEANT: Antipa Minerals (ASX: AZY) reported assay results for follow-up drilling at the GEO-01 gold discovery the company’s 100 per cent-owned Minyari Dome gold-copper project in the Paterson Province of Western Australia.

Antipa Minerals drilled two Western Australian Government Exploration Incentive Scheme (EIS) co-funded diamond core drill holes that intersected near-surface high-grade gold mineralisation at GEO-01.

Multiple zones of mineralisation remain open across the broader 600m by 370m prospect footprint, which is located just 1.3 kilometres from Antipa’s 1.5Moz Minyari gold-copper deposit

Assay results for the second of the two GEO-01 diamond core drill holes returned:

23MYD0532
27 metres at 0.7 grams per tonne gold from 34m down hole, including 8m at 1.4g/t gold from 53m, including 1m at 4.8g/t gold from 56m; and

23m at 0.8g/t gold and 0.02 per cent copper from 109m down hole, including 4m at 2.9g/t gold and 0.05 per cent copper from 121m, and;

1m at 2.1g/t gold from 131m.

“Results from the second diamond hole into our GEO-01 discovery confirmed the intersection of high-grade gold mineralisation and continue to demonstrate the quality of this resource opportunity,” Antipa Minerals managing director Roger Mason said in the company’s ASX announcement.

“Importantly, multiple zones of gold mineralisation remain open, which we intend to target for strike and depth extensions during our CY2024 drill programs.

“We’ve hit the ground running to start the year and there is a significant amount of activity ongoing as we complete planning for our upcoming programs.

“We look forward to updating shareholders shortly with results of our expanded regional air core program expected late this month, and with the commencement of maiden drilling at our three exciting Pacman targets.”

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

THE DRILL SERGEANT: Antipa Minerals (ASX: AZY) has begun diamond and air core drilling programs at the company’s wholly-owned Minyari Dome project in the Paterson Province of Western Australia.

Antipa Minerals anticipates completing up to 3,800 metres of diamond drilling with the aim of potentially increasing the size and grade of both the Minyari and WACA deposits, which combined host high‐grade JORC 2012 Mineral Resource Estimates (MREs) of 732,000 ounces gold at 2 grams per tonne and 26,000 tonnes of copper at 0.24 per cent.

A 3,000m program of air core drilling will test the potential of 2019 GAIP Survey chargeability (and resistivity) high priority targets, potentially related to gold and copper sulphide bearing mineral systems.

Targets within the areas of interest have had limited to no prior direct drill testing.

While the diamond drill rig is at the Minyari Dome project, Antipa will take the opportunity to also drill test the Judes copper, silver and gold deposit, to evaluate the style and shoot controls for the previously identified high‐grade mineralisation, which remains open down dip/plunge, along strike and potentially across strike.

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

Web: www.antipaminerals.com.au

THE DRILL SERGEANT: Few junior explorers can claim a list of heavyweight partners like Antipa Minerals (ASX: AZY).

Antipa Minerals first lured a big name to join its hunt for giant deposits in Western Australia’s Paterson Province in 2015 when it struck a $60 million farm-in agreement with Rio Tinto on its Citadel project.

Since then, interest in the Paterson has exploded with Rio’s Winu copper find and Greatland Gold’s Havieron gold discovery, and Antipa has lined up two more top-class partners for other parts of its extensive landholding in the region.

In February this year, Newcrest Mining, entered a farm-in agreement over 2,180 square kilometres of ground held by Antipa that surrounds its Telfer gold operation, the largest mine in the Paterson.

Newcrest, which is keen to find new sources of ore to keep Telfer running beyond 2023 when current reserves are due to run out, can earn 75 per cent of the Wilki project, as it has been dubbed, by spending $60 million over eight years.

Antipa followed up the Newcrest deal by signing a third major farm-in agreement, this time with $3 billion gold and base metals producer IGO Ltd, at the start of this month.

Under this agreement, IGO can earn a 70 per cent interest in 1,563sqkm of tenements held by Antipa by spending $30 million over 6.5 years, with a requirement to spend at least $4 million in the first 2.5 years.

While the partners have the right to pull out after reaching certain expenditure milestones as is typical in mining industry farm-ins, Antipa could ultimately be free carried for a whopping $150 million of exploration expenditure if the agreements are all seen through to their conclusions.

The company also retains 100 per cent ownership of 144sqkm of ground in the Paterson that includes established gold-copper resources at Minyari-WACA (723,340 ounces of gold and 26,390 tonnes of copper).

In conjunction with the farm-in agreements, both Newcrest and IGO took positions on the Antipa register through share placements (Newcrest 9.9%, IGO 4.9%).

These placements have ensured Antipa is well funded to continue exploration on its 100 per cent-owned ground, study development scenarios and potentially look at new opportunities.

The company listed on the ASX in 2011 with its main asset being a package of tenements in the Paterson acquired from Centaurus Metals.

At that time, the region was far from the fashionable address for mineral exploration it is today.

But there was a recognition among board and management that it had the potential to host world-class deposits such as Telfer, which had a pre-mining endowment of 32 million ounces of gold and 1 million tonnes of copper.

They went on to assemble a commanding landholding of more than 5,000sqkm by acquiring additional ground from the likes of Paladin Energy and legendary WA prospector Mark Creasy.

The strategy has proven to be prescient with recent developments.

Antipa Minerals is presenting at the M+C Partners/Vertical Events Gold ‘n Brews Seminar.

RSVPs are required to attend this free event. To do so CLICK HERE.

THE DRILL SERGEANT: Antipa Minerals (ASX: AZY) is advancing its exploration activities at the company’s Citadel project in the Paterson Province of Western Australia.

Antipa Minerals’ Citadel project sits 80 kilometes north of Newcrest’s Telfer gold‐copper‐silver mine and within five kilometres of Rio Tinto’s recent Winu copper‐gold deposit.

Exploration at Citadel is being fully funded by Rio Tinto Exploration Pty Limited pursuant to a Farm‐in and Joint Venture Agreement.

A 2019 Gradient Array Induced Polarisation survey undertaken at the Citadel project JV with Rio Tinto identified six new greenfield gold‐ copper targets that the JV proposes to be drill tested in 2020.

These new targets are all located within 30 to 40km of Rio Tinto’s Winu copper‐gold‐silver deposit within a similar geological setting.

Citadel currently hosts a global Mineral Resource of 63.8 million tonnes at 0.8 grams per tonne gold and 0.2 per cent copper for 1.6 million ounces of gold and 127,000 tonnes copper.

Results from an Airborne gravity survey over the Citadel project are expected to hit the Antipa desktop in March.

As for now, Rio Tinto is moving ahead with the next stage of the Citadel project earn‐in whereby it can increase its interest to 65 per cent by sole funding $14 million in exploration expenditure.

nder the terms of the Farm-in Agreement, Rio Tinto may spend an additional $14 million within five years to increase its interest in the Citadel JV from 51 per cent to 65 per cent.

Subject to Rio Tinto earning the 65 per cent interest in the JV and Antipa then electing not to contribute to expenditure to maintain its 35 per cent interest, Rio Tinto has the ability to increase its interest to 75 per cent by sole funding a further $35 million within a further three years with the total of Rio Tinto’s sole funding potentially being $60 million.

Web: www.antipaminerals.com.au