15 October 2024
ProActive Investors - Antipa Minerals set for new drilling at Minyari Dome in Paterson Province
Antipa Minerals Ltd (ASX: AZY) is ready to begin an extensive drilling program this week at the 100%-owned Minyari Dome Gold-Copper Project in the Paterson Province of Western Australia.
Phase 2 of the company’s 2024 exploration campaign is scheduled to include 70 drill holes for up to 11,000 metres, comprising 66 reverse circulation (RC) holes for up to 10,000 metres and four diamond core holes for up to 1,000 metres.
Program objectives
The key objectives include growth of existing mineral resources at the GEO-01 deposit and Minyari Southeast along with pursing new gold discoveries within multiple high-priority areas.
These include GEO-01 South and North targets, the Minyari Southeast extension target, which was identified during Phase 1 drilling, and the Minyari Plunge target beneath Minyari North.
Samples from the drilling will also be collected for metallurgical testing, which is planned as part of a future pre-feasibility study (PFS).
Potential to enhance value
Antipa’s managing director Roger Mason said: “The RC rig will start spinning later this week at our Minyari Dome Project, with the diamond rig set to arrive on site before month-end.
"This year’s exciting Phase 2 drilling program is geared towards both resource growth at GEO-01 and Minyari Southeast and exploring new discovery opportunities.
"With approximately 11,000 metres of RC and diamond core drilling planned, this 2024 Phase 2 program has the potential to significantly enhance the value of the Minyari Dome development.”
The project has an indicated and inferred resource of 2.3 million ounces of gold, 83,500 tonnes of copper, 661,000 ounces of silver and 13,000 tonnes of cobalt with the majority in the higher confidence indicated category.
Near-term milestones
Antipa has a number of key milestones in the short term including the delivery of an updated Minyari Dome Scoping Study, which is anticipated next week.
Also, by the end of this month, the company expects to finalise the all-cash sale of its share of the Citadel JV Project to Rio Tinto for A$17 million.
Upon completion, Antipa’s cash reserves will grow to approximately A$23 million, providing a solid financial footing for ongoing project advancement.
The company also expects to receive initial assay results from the Phase 2 drilling during December.
By John Miller
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