10 July 2024
MiningNews - Strong headline gold drilling by Antipa near Newmont's Telfer
Newmont-backed Antipa Minerals expects to report a maiden mineral resource estimate for its GEO-01 discovery in the vicinity of the Telfer operation in Western Australia this month.
Drill assays reported today from the prospect included a headline result of 35m grading 3 grams per tonne gold from 20m.
The result came from work "along the northern edge of the main zone" at GEO-01.
While a resource estimate is imminent, Antipa said the "true width" of the mineralisation intersected in that drill hole isn't yet known.
The GEO-01 discovery lies approximately 1.3km south of the 1.5-million-ounce Minyari gold-copper deposit.
An updated scoping study incorporating GEO-01 is due for completion next month.
Antipa says the GEO-01 gold anomaly has a "footprint similar in size to the flagship Minyari deposit and remains open in several directions, identifying a substantial near surface potential maiden resource opportunity".
Antipa unveiled a A$7.25 million raising earlier this month, with Newmont maintaining its 8.6% shareholding.
Ostensibly, Newmont is in the process of exiting the region with the potential sale of its Telfer operation, a deemed ‘non-core' asset acquired in the Newcrest Mining transaction.
Shares in Antipa were up 10% to 1.1c in morning trade, capitalising the company at $52 million.
by Michael Quinn
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