In July 2020, Antipa entered into a farm-in agreement with
established base metals and lithium company IGO Ltd in respect to a 1,550 km2 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
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.
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.
The Wilki Project area surrounds Newcrest Mining’s long-running
Telfer gold-copper-silver mine and comes to within 9km of
Newcrest-Greatland Gold’s Havieron high-grade gold-copper development
project, and also includes existing gold Mineral Resources at the Tim’s
Dome and Chicken Ranch deposits as well as multiple defined
greenfields exploration targets including Havieron analogue
The Chicken Ranch deposit is located 15km from the giant Telfer gold-copper-silver mine. It hosts mineralisation along a 3km+ strike length within four or more parallel mineralised gold trends starting from as shallow as 1m and extending down for more than 130 metres vertical metres.
Chicken Ranch hosts an Inferred Mineral Resource of 791,000 tonnes at 1.6 g/t gold for 40,300 ounces of gold. The prospect retains excellent exploration upside with multiple untested mineralised trends displaying significant strike extents, while the primary mineralisation remains untested at depth.
Tim’s Dome South is located just 12km from the Telfer gold-copper-silver mine and is interpreted as the re-emergence of the Telfer Dome structure with the potential for high-grade Telfer reef-style mineralisation.
Gold +/- copper mineralisation starts from as shallow as 1m in a gold
vein-bearing corridor of up to 200m wide over a 3.5km strike length within a broader 8km trend.
Tim’s Dome contains a resource of 1.78 million tonnes at 1.1 g/t Au for 63,200 ounces of gold.