Major Growth Projects

PATERSON PROJECT

In July 2020, Antipa entered into a farm-in agreement with established base metals and lithium company IGO Ltd in respect to a 1,550km² portion of its 100%-owned landholding in the Paterson Province, which has been named the Paterson Project.

The agreement caters for a staged-farm-in process whereby IGO must spend an initial $4 million on exploration on the landholding within 2.5 years and a further $26 million within 6.5 years to earn a 70% joint venture interest in the Project. The initial $4 million minimum exploration expenditure milestone was satisfied in December 2021. Effective from 31 March 2022, IGO became manager and operator of the Project.

The farm-in area is contiguous with the Citadel Joint Venture in the north, runs to within 20km of Newcrest Mining’s Telfer gold operation in the south and surrounds the Company's Minyari Dome area. It includes a new gold-copper trend identified by Antipa in 2019 that covers the Reaper, Serrano and Poblano targets over a strike length of approximately 1.8km. The Company’s interpretation is that Reaper, Poblano and Serrano could all form part of the same very large-scale mineral system. There are multiple other areas of interest within the project that are likely to be the focus of future exploration work, including several co-incident magnetic-gravity high targets.

Under the terms of the farm-in agreement with IGO, Antipa will be free-carried until the completion of a feasibility study on any proposed mining operation within the Project area.

WILKI PROJECT

In late February 2020, Antipa entered into a farm-in agreement with established gold miner Newcrest Mining in respect to a 2,260km² portion of Antipa’s southern landholding in the Paterson Province, which has been named the Wilki Project.

The agreement caters for a staged farm-in process whereby Newcrest Mining must spend an initial $6 million on exploration within two years of commencement; a further $10 million within five years of commencement to earn a 51% interest; and a further $44 million within eight years of commencement to earn a 75% interest. In certain circumstances, Newcrest Mining can extend this earn-in period by up to two years. The initial $6 million minimum exploration expenditure milestone was satisfied in November 2021 and Newcrest elected to proceed to the next stage of the farm-in.

Effective from 1 July 2022, Newcrest became manager and operator of the Project. In November 2023, Newmont Corporation (Newmont) completed the acquisition of Newcrest, including its interest in the Wilki Project. 

The Wilki Project area surrounds the long-running Telfer gold-copper-silver mine and comes to within 9km of Newmont-Greatland Gold’s Havieron high-grade gold-copper development project. It includes existing gold Mineral Resources at the Tim’s Dome and Chicken Ranch deposits as well as multiple defined greenfields exploration targets including the exciting Parklands Target.

WILKI PROJECT SURFACE GEOCHEMICAL SAMPLING PROGRAMME: PARKLANDS TARGET IDENTIFIED

The first tranche of the large-scale surface geochemical sampling programme (currently involving approximately 4,000 samples) has identified an exciting new gold target known as Parklands, located just 10km northeast of Telfer and 6km along a northwest trend from several known gold deposits.

Key characteristics of the Parklands target include: 

• A large 3km long by up to 1.5km wide, coherent gold and mineral system pathfinder (bismuth, tungsten, cobalt, sulphur, antimony, tin and selenium) surface geochemical anomaly; 
• Peak surface geochemical sample lag result 1.52 g/t gold, with multiple results exceeding 0.1 g/t gold; 
• Favourable mineralisation fluid anticlinal trap site, with fluid conduit plumbing, including a northeast-trending structure intersecting
• Telfer and local thrust faulting concentrated in the fold nose; 
• Shallow cover, predominantly less than 20m; and 
• Anomaly open to the southeast, northwest and north.