28 January 2026
Proactive Investors - Antipa Minerals Minyari MRE lifted to 3.3Moz AuEq in December quarter
Antipa Minerals Ltd (ASX: AZY) completed an updated Mineral Resource Estimate (MRE) for its 100%-owned 4,500km² Minyari Dome gold-copper development project during the December 2025 quarter.
The updated Minyari MRE added 163koz of gold and 6.6kt of copper (200koz AuEq) and now totals 58Mt at 1.45g/t gold and 0.17% copper (plus 0.42g/t silver and 0.03% cobalt), containing 2.7Moz gold, 90kt copper, 700koz silver and 13kt cobalt — equivalent to 3.3Moz AuEq at 1.80g/t AuEq. Indicated resources represent 70% of the total, with 34.1Mt at 1.60g/t gold and 0.19% copper.
CY2025 drilling wrap-up: Phase 1 assays received; Phase 2 largely complete
Antipa said all assay results from the Phase 1 drilling program were received by quarter-end, covering 305 holes for 35,158 metres. Phase 2 drilling was also completed, with only limited PFS sterilisation drilling still underway across proposed infrastructure and waste rock storage sites, expected to conclude in H1 CY2026.
Growth drilling at Minyari Dome during CY2025 targeted resource extensions at Minyari South and the broader GEO-01 prospect area, including the Main Zone, Minella, Fiama and Central prospects. The growth program was completed in the quarter and comprised 90 holes for 20,611 metres, with assays returned for 84 holes totalling 19,126 metres.
At Fiama, Antipa highlighted RC hole 25MYC0873 from the GEO-01 program, which returned 53 metres at 1.9g/t gold and 0.08% copper from 233 metres, including higher-grade internal intervals of 7 metres at 6.5g/t gold and 0.17% copper from 274 metres, and 1 metre at 32.6g/t gold and 0.24% copper from 279 metres.
The company said the GEO-01 prospect now covers a mineralised footprint of about 1 kilometre by 800 metres, located roughly 1.3 kilometres south of Minyari, with mineralisation remaining open down-dip and, in places, along strike.
PFS drilling and workstreams progressing
Antipa reported the PFS resource definition drilling component was completed during the quarter, comprising 81 holes for 17,746 metres, with results returned for 71 holes totalling 13,838 metres.
Metallurgical testwork for the PFS was described as substantially complete, with results indicating the gold is free milling and suitable for conventional CIL processing. Reported gold recoveries ranged from 89% to 98%, with primary fresh ore returning 89%–90%, and higher recoveries recorded in oxide and transitional material. Current testwork supports a flowsheet producing gold doré via CIL, with optional cyanide leach residue flotation to generate a separate copper concentrate.
Antipa is targeting completion of the PFS in Q3 CY2026, with a supporting PFS MRE expected in Q1 CY2026.
Cash balance $51.2 million at quarter-end
At the end of the December 2025 quarter, Antipa reported a cash balance of approximately A$51.2 million, with A$12.8 million spent on exploration during the period.
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