Is Antipa sitting on Havieron 2.0?

Antipa Minerals’ high-grade gold Minyari deposit at its wholly owned Minyari Dome Project in the highly fertile Paterson Province of WA continues to impress and is thicker than the current inferred resource.

Antipa Minerals (ASX:AZY) has received further results from recent drilling of its Minyari deposit which has shown high-grade mineralisation that is “materially thicker” than the current resource of 723,000oz of gold and 26,000 tonnes of copper.

The new results showed a broad 172m intercept grading at 1.68 grams per tonne (g/t) gold and 0.21% copper from 230m, which included higher grade hits of 20m at 5.20g/t gold, 0.40% copper, 1.23g/t silver and 0.12% cobalt from 272m; 5m at 12.98g/t gold, 0.86% copper, 2.56g/t silver and 0.3% cobalt from 277m; and 31m at 3.17g/t gold, 0.35% copper and 1.17g/t silver from 359m.

Grades reached up to 55.6g/t gold, 3.17% copper, 17.5g/t silver and 0.56% cobalt.

These latest assays continue to highlight significant zones of additional high-grade gold-copper-silver-cobalt mineralisation which combined with the recent Minyari East discovery are likely to result in an increase to the Minyari resource.

They also further prove high-grade mineralisation is commonly associated with sulphide matrixed breccia zones similar to Greatland Gold and Newcrest’s Mining’s (ASX:NCM) Havieron 3.4Moz gold and 160,000 tonne copper project.

“These exciting 21MYC0216 results confirm the potential for significant resource growth at the Minyari deposit as well as potential for a stand-alone development opportunity based on an open pit and underground mining operation that is close to Telfer,” Managing Director Roger Mason said.

The recently reported high-grade gold and copper mineralisation at its new Minyari East target has extended the overall width of the Minyari mineralisation envelope to about 275m.

Antipa’s Minyari Dome project sits within 35km of Newcrest huge Telfer gold-copper-silver mine and processing facility and 54km along strike from Havieron.

Antipa

Demonstrating there is still plenty of exploration upside, the Minyari mineralisation remains open down plunge, along strike to the north, across strike to the east and west, and potentially open to the south up plunge and at depth.

Antipa has so far completed 16,000m of the 21,000m drilling program initially planned with the majority of assays still to come.

The company is in an enviable position, with major partners doing the heavy lifting on three of its projects in the Paterson and significant drill programs in progress at all of its projects.

Massive drilling blitz

Nine rigs are in operation undertaking 62,000m of diamond core, reverse circulation (RC) and air core drilling at its four Paterson Province precious and base metals projects.

But three of those projects are being taken care of by heavyweights Rio Tinto (ASX:RIO), Newcrest and IGO (ASX:IGO), with Newcrest and IGO owning 9.9% and 4.9% of Antipa respectively.

“We are in the middle of the most active drilling year in Antipa’s history with nine rigs currently drilling across our four Paterson Province projects and we are delighted with the early success of this year’s program to date,” Mason said.

The phase one drilling program was due to be completed by mid-August, but because of the promising results so far Antipa plans to undertake additional drilling to fast-track the evaluation of the high-grade Minyari East lode and broader eastern Minyari target area.

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.