Buoyed by a review of recent results and the improving prospectivity of key targets, Antipa Minerals Ltd (ASX:AZY) will significantly expand 2023 exploration, including drilling, at the Minyari Dome Project in Western Australia’s resource-rich Paterson Province.
The enlarged exploration program is set to comprise up to 12,000 metres of drilling with a focus on new resource growth opportunities with the ability to enhance Antipa’s project development opportunity.
This program, which follows recently completed analysis of the second phase greenfield drilling undertaken in the second half of 2022, is expected to begin in May.
Priority targets
As a result of the review, Antipa believes that the two targets immediately north of Minyari plus the GEO-01 soil/aircore target, combined with other high-priority regional targets worked up to drill-ready status, warrant a more aggressive exploration focus this year.
To facilitate this work and ensure the subsequent results are included in the pre-feasibility study (PFS), the company has decided to pause the PFS workstreams on the Minyari Dome Project.
This action will also help ensure the company has sufficient funding for the expanded exploration activities.
Growth opportunity “magnified”
Antipa’s managing director Roger Mason said: “As we worked through the results from last year’s H2 greenfield drilling in more detail, the scale of the growth opportunity in front of us became increasingly magnified.
“Put simply, this opportunity demanded increased investment, relative to what we previously planned for 2023 drilling at Minyari Dome.
“As a result, we are now set to significantly expand our 2023 drilling plans at Minyari Dome. This approach has the potential to materially change the scope of the Minyari Dome development and so we will pause our PFS program until these results are received.
“We are convinced this strategy is the right one, given its potential to add substantial further value to the Minyari Dome Project through the course of this year.
“We also have the benefit of being able to carry forward almost all PFS work completed to date without significant need for refreshment upon recommencement.”
In Paterson Province
Antipa tenements within the Paterson Province of WA. Also shows the Antipa-Rio Tinto Citadel JV, Antipa-Newcrest Wilki Farm-in, Antipa-IGO Paterson Farm-in, Newcrest Mining Ltd’s Telfer Mine and O’Callaghans deposit, Rio Tinto’s Winu deposit, Newcrest-Greatland Gold’s Havieron deposit and Cyprium’s Nifty Mine.
Minyari Dome Project is in a region of WA attracting considerable global attention from producers and explorers. It is 35 kilometres from Newcrest Mining’s Telfer gold-copper-silver mine and mineral processing facility and 54 kilometres along strike from Newcrest-Greatland Gold’s Havieron gold-copper development project.
Drilling program
The growth drilling program will consist of up to 12,000 metres, including 6,000 metres of reverse circulation (RC), 5,000 metres of aircore and 1,000 metres of diamond core drilling, and is designed to:
- Deliver a maiden Minyari North gold-copper resource;
- Test the revised Minyari Plunge gold-copper target position;
- Test the large-scale, 2022 aircore-defined, GEO-01 gold-copper target;
- Provide preliminary testing of several other targets including Chicane; and
- Test high-priority greenfield target areas.
- Soil geochemical sampling program to identify new greenfield gold-copper targets; and
- Ongoing Minyari Dome PFS workstreams mainly limited to desktop study components.
Progress by Antipa on the PFS to date has affirmed the general technical and economic parameters presented in a scoping study completed in August 2022.
Antipa expects to recommence the PFS in early 2024, incorporating all results from the expanded 2023 drilling activities.