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Antipa jumps on high grade hits

Drilling at Antipa Minerals’ 100%-owned Minyari deposit in the Paterson Province has resulted in a new discovery.
Antipa jumps on high grade hits Antipa jumps on high grade hits Antipa jumps on high grade hits Antipa jumps on high grade hits Antipa jumps on high grade hits

Antipa drilling in the Paterson Province

One hole at Minyari East returned 31m at 3.2 grams per tonne gold and 0.26% copper from 383m to end of hole, including 2m at 17.54gpt gold, 1.4% copper and 2.19gpt silver, including 1m at 32.1gpt gold, 2.29% copper and 3.83gpt silver and 2m at 18.8gpt gold, 0.82% copper and 2.3gpt silver from 397m, including 1m at 33gpt gold, 0.8% copper and 3.56gpt silver.

Other results included 6m at 16.83gpt gold, 0.5% copper and 0.96gpt silver from 335m, including 1m at 58.9gpt gold, 0.75% copper and 1.88gpt silver; and 22m at 2.6gpt gold and 0.08% copper from 294m, including 1m at 42.3gpt gold, 0.16% and 1.03gpt silver from 294m.

Minyari East remains open in all directions along 140m of strike and 150m of dip.

The prospect is just 80m east of the existing Minyari resource boundary.

The Minyari and WACA deposits have a combined resource of 723,000 ounces of gold at 2gpt gold and 26,000 tonnes of copper at 0.24%.

New results from infill drilling at Minyari returned best results of 21m at 3.58gpt gold, 0.64% copper and 1.66gpt silver from 100m, including 8m at 4.86gpt gold, 1.27% copper and 3.01gpt silver and 1m at 20.6gpt gold, 2.85% copper and 8.25gpt silver.

Antipa managing director Roger Mason said the Minyari results highlighted the potential for resource growth.

The company is aiming to define resources sufficient for a standalone open pit and underground operation.

Three rigs are currently on site carrying out a 21,000m resource infill, extension and discovery program.

The company also has farm-in agreements in the region with Rio Tinto, Newcrest Mining and IGO.

"With nine rigs currently drilling across our four Paterson Province projects, we are in the middle of the most active drilling year in Antipa's history," Mason said.

The three JVs are potentially worth A$150 million in cumulative free-carried exploration to Antipa.

Antipa shares jumped 9.3% to 4.7c, a five-week high, valuing the company at $158.2 million.

Most read Exploration / Development

Most read Exploration / Development