31 August 2022
Antipa Minerals Scoping Study delivers the goods
Antipa Minerals says its Scoping Study has confirmed the
Minyari Dome Gold Project presents a potential commercially viable
The study is based on the Mineral Resource Estimate (MRE) of 33.9
million tonnes at 1.60g/t gold, 0.19% copper, 0.54g/t silver and 0.03%
cobalt for 1.8 million ounces of gold, 64,300 tonnes of copper, 584,000
ounces of silver and 11,100 tonnes of cobalt.
Notably, it shows the technical and financial robustness of a
stand-alone gold mining and processing operation, with an initial
combined open pit and underground mine schedule of 21.4 Mt at 1.6g/t Au
(1.1 Moz gold).
The project would have a 7+ years initial processing life at
nameplate 3 Mtpa throughput, at a forecast average
All‐In‐Sustaining‐Cost (AISC) of A$1,475/oz (US$1,062/oz), a total
pre‐production capital cost of A$275M (including pre‐production mining
of A$68M) and a post-tax payback of around 2.5 years from first
Plus, there’s also potential upside in further resource growth, and
project optimisation with copper and cobalt by-product opportunities.
Mineral Resource update on the horizon
“Critically, this is just the beginning for Minyari Dome. Project
economics are hugely leveraged to future resource growth, from both
extensional and greenfield drilling opportunities,” Antipa Minerals (ASX:AZY) MD Roger Mason says.
“An aggressive growth drilling program was commenced in June at
Minyari Dome, focused on testing of open pit targets with the objective
of extending high‐grade mine‐life.
“Substantial and immediate opportunity for such further discoveries
exists across the Minyari Deposit Keel Zone, Minyari South, Sundown,
Minyari North, GP01, along with several high‐prospectivity geophysical
and soil greenfield targets across the tenure.
“This drilling program is planned to continue through the second half
of calendar 2022, with the next update of the Minyari Dome Mineral
Resource Estimate targeted for around the middle of calendar year 2023.”
Next step is the Pre-Feasibility Study
Mason said that, alongside this drilling and resource work, and as a
direct function of the Scoping Study outcomes, the Antipa Board has
approved the commencement of a Pre‐Feasibility Study (PFS) on Minyari
“The PFS is planned to incorporate the next Mineral Resource estimate
update into the mine scheduling, as well as progress a range of other
upside opportunities identified as part of the Scoping Study – including
the obvious by‐product metal potential that exists,” he said.
“The PFS is scheduled for completion during Q4 CY2023.”
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