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Antipa proves ‘camp-style’ gold-copper potential right next door to Newcrest in the Paterson
Mining
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There appears to still be plenty of untapped greenfield discovery potential at Antipa’s Minyari Dome Project, with the company unearthing more shallow, high-grade gold and copper within 3.5km of the Minyari resource.
Antipa Minerals (ASX:AZY) recently completed 11,000m of greenfield drilling to test multiple high priority gold-copper targets in close proximity to the Minyari resource, in WA’s Paterson Province – just 35km from Newcrest Mining’s (ASX:NCM) massive Telfer gold-copper-silver mine.
Drilling delivered significant shallow, high-grade gold and copper mineralisation at the Minyari South prospect, which sits 250m southwest of the Minyari resource.
Four holes drilled at that prospect returned a top intercept of 9m at 10.8 grams per tonne (g/t) gold and 0.6% copper from 54m, including 3m at 19.4g/t gold and 1.4% copper from 55m.
One hole drilled at the Sundown prospect, meanwhile, delivered a broad intercept of 42m at 0.53g/t gold and 0.2% copper from 125m, including 14m at 1.3g/t gold and 0.4% copper along with 4m at 3.1g/t gold and 1% copper from 135m.
The drilling at Sundown, located 400m west of the Minyari resource, indicated similarities to the northern upper zone of the Minyari deposit, where gold grade increases with depth.
“The increasing cache of greenfield discoveries within close proximity to the Minyari and WACA deposits demonstrates the significant exploration and resource growth potential within the company’s 100% Minyari Dome Project,” Managing Director Roger Mason said.
“The company’s recently completed 11,000 metre 2021 greenfield RC drill program tested 14 targets and has delivered four discoveries (assay results available), with significant sulphide mineralisation intersected at another four targets (assay results pending).
“The Minyari Dome area is showing signs of camp-style potential with multiple mineral systems developed around one or more causative intrusions.”
A reference to ‘camp-style’ potential indicates the possible significant scale of a project, with these multiple near-surface discoveries remaining open.
Follow-up drilling at the GP01 prospect, 400m east of the WACA resource, intersected further mineral system related sulphides and alteration along 150m of strike, which remains open.
Drilling also intersected significant mineral system related sulphides and alteration at four other targets, which remain open in most directions and are all within close proximity to Minyari. Assay results are pending for GP01 and the four other targets.
With the continued exploration success at Minyari Dome, the project has shown potential to be both an open pit and underground mining operation.
The Minyari and WACA deposits currently host 723,000 ounces of gold at 2 grams per tonne (g/t) and 26,000 tonnes of copper at 0.24% in the soon to be superseded 2017 resource, with material upside potential.
Newcrest, Australia’s largest gold producer, just last week committed to spending up to a further $10M on exploration at Antipa’s Wilki Project, also in the Paterson Province.
The mining heavyweight has already spent $6M on the project and it did that well before the initial two-year deadline.
With three majors doing the heavy exploration lifting on the Wilki, Citadel and Paterson projects, Antipa is free to focus all its resources on advancing its 100% owned Minyari Dome Project.
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.
