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The Australian - Antipa lifts Minyari mining opportunity as gold equivalent resource grows to 3.6Moz

By SPECIAL REPORT

• Antipa Minerals boosts Minyari gold equivalent resources by 9% to achieve 3.6Moz overall with gold ounces up to 2.9Moz

• Contained gold resources within higher confidence indicated category now stand at 2.2Moz

• New exploration in 2026 will focus on resource growth, delineating maiden resources and delivering new discoveries

Special Report: A resource upgrade by Antipa Minerals at the Minyari Gold-Copper-Silver Project in WA’s Paterson Province underpins a standalone, open pit and underground mining and processing opportunity.

Overall gold equivalent resources at the project have been boosted 9% to 3.6Moz while gold-only ounces increased 7.4% to 2.9Moz.

Importantly for Antipa Minerals (ASX: AZY) about 76% of the contained gold ounces, or 2.2Moz, are now within the Indicated category providing enough resource confidence to enable detailed Pre-Feasibility Study mine planning, scheduling and development studies.

The Minyari Dome deposits are within 3.5km of each other and contain 2.5Moz Au or 3.2Moz AuEq of the overall resource which forms the basis of the ongoing PFS.

About 85% of this resource is in the Indicated category, which underpins the PFS.

“Today’s mineral resource update delivers both an increase in total contained metal and a significant uplift in the proportion of higher-confidence Indicated ounces across the Minyari Dome deposit group,” AZY managing director Roger Mason said.

“This provides an even stronger foundation for mine planning, study work and ongoing technical workstreams as we advance the project towards a development decision.

“With 2.9 million ounces of gold, alongside substantial copper, silver and cobalt credits for 3.6 million ounces of gold equivalent now defined, Minyari continues to strengthen as a large-scale standalone development opportunity in one of Australia’s most prospective mineral provinces which is rapidly emerging as Australia’s next prolific mining province.

“Just as importantly, we see clear scope for further growth.

“Multiple deposit areas remain open, several emerging zones are shaping up for maiden resource potential, and the broader project area continues to generate highly encouraging new discovery opportunities.”

Minyari Project Resources

The Minyari Project’s resource comprises the Minyari Dome group of 12 deposits, as well as satellite deposits at Tim’s Dome, Chicken Ranch and RPS, which are all within 35m of Minyari.

The updated resource now stands at 69Mt grading 1.33g/t gold, 0.13% copper, 0.4g/t silver and 0.03% cobalt for 2.9Moz contained gold, 91,000t copper, 880,000oz silver and 13,000t cobalt.

Further resource growth could come from multiple deposits, in particular the broader GEO-01 area within Minyari Dome with follow-up work planned in the first half of 2026.

GEO-01 Main Zone features a steeply plunging high-grade zone, open from 200m below surface, with a recent step out drill hole confirming mineralisation extends beyond 850m below surface, while Fiama, Minella and GEO-01 Central remain open in several directions.

While the PFS is underway, the October 2024 scoping study forecast the project as delivering average post-tax free cash flow over the first 10 years of $257m and $301m per annum at Australian gold prices of $4500/oz and $5000/oz, respectively.

This is decidedly conservative given that the current Australian gold spot price is within shouting distance of $7000/oz at $6921/oz.

Exploration in 2026 will target future resource growth with a focus on delineating maiden resources and delivering new discoveries across the company’s extensive landholding.

The PFS is due for completion in Q3 CY2026.

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.

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