Antipa Minerals Limited - DRILLING COMMENCED AT MINYARI PLUNGE EXTENSION TARGETS | MarketScreener

2022-10-16 00:18:45 By :

Antipa Minerals Limited (ASX: AZY) (Antipa or the Company) is pleased to provide an exploration update for its 100% owned Minyari Dome Project in Western Australia's Paterson Province (Figure 4). The Project is located within 35km of Newcrest Mining's (Newcrest) Telfer gold?copper?silver mine and mineral processing facility and 54km along strike from Greatland Gold?Newcrest's Havieron gold?copper development project

Antipa's Managing Director, Roger Mason, said: 'Antipa has started to unlock the potential of our flagship 100%?owned Minyari Dome Project. To date we have delivered a 250% increase to the project's Mineral Resource Estimate, backed up by a Scoping Study which demonstrated the potential for an attractive stand?alone gold mining and processing development, resulting in the commencement of a Pre?feasibility Study. The Minyari Dome Project economics are hugely leveraged to future resource growth, from both extensional and greenfield drilling opportunities and we have a pipeline of high?prospectivity gold? copper targets to drill. We remain committed to continuing a substantial exploration programme across our 144km2 tenure at Minyari Dome, which includes an aggressive growth exploration programme. The first phase of drilling was completed in mid?August with assay results expected shortly and the second phase of drilling was recently commenced to test the high priority Minyari down plunge resource extensional target and the Minyari North prospect area. Additionally, new greenfield discoveries are being targeted from planned drill testing of high?priority soil geochemical targets. The objective of the growth drilling programme is to increase the potential project life to seriously boost project economics.

Antipa's Managing Director, Roger Mason, said: 'Antipa has started to unlock the potential of our flagship 100%?owned Minyari Dome Project. To date we have delivered a 250% increase to the project's Mineral Resource Estimate, backed up by a Scoping Study which demonstrated the potential for an attractive stand?alone gold mining and processing development, resulting in the commencement of a Pre?feasibility Study. The Minyari Dome Project economics are hugely leveraged to future resource growth, from both extensional and greenfield drilling opportunities and we have a pipeline of high?prospectivity gold? copper targets to drill. We remain committed to continuing a substantial exploration programme across our 144km2 tenure at Minyari Dome, which includes an aggressive growth exploration programme. The first phase of drilling was completed in mid?August with assay results expected shortly and the second phase of drilling was recently commenced to test the high priority Minyari down plunge resource extensional target and the Minyari North prospect area. Additionally, new greenfield discoveries are being targeted from planned drill testing of high?priority soil geochemical targets. The objective of the growth drilling programme is to increase the potential project life to seriously boost project economics.

Antipa is a mineral exploration company focused on the Paterson Province in north?west Western Australia, home to Newcrest Mining's world?class Telfer gold?copper mine, Rio Tinto's Winu copper?gold deposit, Newcrest? Greatland Gold's Havieron gold?copper deposit and other significant mineral deposits. Having first entered the Paterson in 2011 when it was a less sought?after exploration address, the Company has used its early mover advantage to build an enviable tenement holding of ~5,100km2 , including the ~1,200km2 Citadel Joint Venture Project with Rio Tinto (who currently holds a 65% joint venture interest), the ~2,200km2 Wilki Project that is subject to a $60 million Farm?in and Joint Venture Agreement with Newcrest (who is yet to earn a joint venture interest) and the ~1,500km2 Paterson Project that is subject to a $30 million Farm?in and Joint Venture Agreement with IGO (who is yet to earn a joint venture interest). Antipa retains 144km2 of the 100%?owned Minyari Dome Project which contains a significant Mineral Resource, with the Minyari and WACA deposits containing 1.8 million ounces of gold and 64,300 tonnes of copper, and a Scoping Study Mining Inventory of 21.4 million tonnes at 1.6 g/t gold for 1.1 million ounces of gold, plus other deposits and high quality exploration targets. The Citadel Project lies within 5km of the Winu deposit and contains a Mineral Resource of 2.4 million ounces of gold and 162,000 tonnes of copper from two deposits, Calibre and Magnum. Unlike certain parts of the Paterson where the post mineralisation (younger) cover can be kilometres thick, making for difficult exploration, the Company's combined 5,100km2 tenement portfolio features relatively shallow cover; approximately 80% being under less than 80 metres of cover. Extensive drilling programmes, geophysical and surface geochemical surveys are planned for 2022 across Antipa's combined Paterson tenement portfolio as the company pursues a multi?layered strategy of targeting tier?one greenfields discoveries, growing its existing resources through brownfields exploration and advancing potential development opportunitie

This document may include forward?looking statements. Forward?looking statementsinclude, but are not limited to, statements concerning Antipa Mineral Ltd's planned exploration programme and other statements that are not historical facts. When used in this document, the words such as 'could,' 'plan,' 'estimate,' 'expect,' 'intend,' 'may,' 'potential,' 'should,' and similar expressions are forward?looking statements. Although Antipa Minerals Ltd believes that its expectations reflected in these forward?looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward?looking statements

Competent Persons Statement - Exploration Results: The information in this document that relates to Exploration Results is based on and fairly represents information and supporting documentation compiled by Mr Roger Mason, a Competent Person who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Mason is a full?time employee of the Company. Mr Mason is the Managing Director of Antipa Minerals Limited, is a substantial shareholder of the Company and is an option holder of the Company. Mr Mason has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcements, all of which are available to view on www.antipaminerals.com.au and www.asx.com.au. Mr Mason, whose details are set out above, was the Competent Person in respect of the Exploration Results in these original market announcements.

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