Near-surface gold on show as Antipa looks to Minyari resource update

Phase 1 delivers multiple gold hits of up to 30g/t gold intersected at Antipa Minerals’ Minyari Dome
New zones of near-surface gold mineralisation to generate additional drill targets
Maiden resource for GEO-01 discovery and update to Minyari Dome resource and Scoping Study on the way

Special Report: Phase 1 drilling of Antipa Minerals’ 1.8Moz Minyari Dome gold-copper project in WA’s Paterson Province has identified new, near-surface gold zones along the northern edge of the GEO-01 discovery.

Antipa Minerals’ (ASX:AZY) Minyari Dome is smack bang in the middle of the copper, gold and silver-laden Paterson Province – home to Newmont’s 32Moz Telfer operation, Rio Tinto’s 7.9Moz Winu development project and Greatland Gold/Newmont’s 7Moz Havieron JV.

AZY also has a bunch of other exploration tenements and farm-in and JV agreements in the region, including:

Paterson farm-in with IGO (ASX:IGO) to spend $30m spend for 70% interest (over $7m spent to-date)
Wilki farm-in with Newmont (ASX:NEM) to spend $60m for 75% interest (over $10m spent to-date)
Citadel JV with Rio Tinto (ASX:RIO) (Antipa 32%)

Antipa Minerals (ASX:AZY) — Antipa Minerals’ tenements and surrounding projects. Via Antipa

Phase 1 drilling delivers high-grade gold

A total of 81 RC drill holes for 12,816m were drilled as part of AZY’s Phase 1 RC drilling program at Minyari Dome and a final batch of assays from the remaining 62 holes have encountered near-surface, high-grade gold mineralisation at multiple target areas.

The new zones were identified along the northern edge of the GEO-01 discovery, the GP01 target and at the Minyari Southeastern Extension target at the project.

New mineralised zones

High-grade gold mineralisation was intersected along the northern edge of the main zone of GEO-01 and at several areas within the broader 700m x 500m GEO-01 prospect area.

Hits included a highlight intersection of 35m at 3g/t gold from 20m down hole in 24MYC0610, including 16m at 5.6g/t gold from 33m down hole at the GEO-01 prospect – and a bonanza 1m at 24g/t intercept.

Results from GP01 intersected 8m at 5.3g/t gold and 0.07% copper from 96m down hole in 24MYC0607, including 4m at 8.5g/t gold and 0.12% copper from 96m down hole.

Further drilling results discovered mineralisation at multiple GEO-01 lodes and the Minyari Southeast Extension target remains open in most directions, which AZY says add further weight to existing significant maiden resource opportunities.

MD Roger Mason says the results will serve to meaningfully increase the resource potential at the existing Minyari deposit and adds to the already substantial opportunity at GEO-01.

“Results from the program also facilitate refinement of our geological model and enable generation of multiple new drill target locations,” Mason says.

What’s next?

The explorer now awaits assay results from the two diamond drill holes completed at the PM1 and PM2 Pacman targets, which are expected later this month as it works towards an update to its 100%-owned 1.8Moz gold resource.

“We are advancing workstreams designed to deliver a GEO-1 maiden resource and an update to the existing Minyari resource, both scheduled for July while we prepare for the upcoming CY2024 Phase 2 drilling program set to commence later this year,” Mason says.

This article was developed in collaboration with Antipa Minerals, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.