Join our daily newsletter At The Bell to receive exclusive market insights
Antipa Minerals Ltd (ASX:AZY) has reported evidence of high-grade gold located close to the surface of its GEO-01 prospect area – including up to 24 grams per tonne – as part of drilling work completed at the company’s Minyari Dome gold-copper project in Western Australia.
Results from the final 62 holes of an expanded Phase 1 reverse circulation (RC) drilling at the project confirmed high-grade gold mineralisation along the northern edge of GEO-01’s main zone as well as several parts of the broader prospect area.
From this, intercepts included 35 metres at 3.0 grams per tonne gold from 20 metres down hole, including16 metres at 5.6 grams per tonne gold from 33 metres down hole, also including: 1 metre at 14.4 grams per tonne from 34 metres; and 1 metre at 24.0 grams per tonne from 48 metres.
The Phase 1 drilling had been undertaken to enable a maiden mineral resource estimate (MRE) for the GEO-01 prospect, and this has been boosted by the recent assays, which have shown mineralisation at multiple GEO-01 lodes and the Minyari Southeast Extension target to be open in most directions.
Antipa’s managing director Roger Mason said the results showed evidence of high-grade gold in multiple locations around GEO-01.
“We are delighted to report these final assay results from our CY2024 Phase 1 RC drilling programme at Minyari Dome,” he said.
“The decision to expand the initial size and scope of drilling has delivered some fantastic
outcomes with thick, near-surface high-grade gold mineralisation discovered at multiple target areas.
“Importantly, the drilling programme successfully identified new gold zones along the northern edge of GEO-01, at the GP01 target, and at the Minyari Southeastern Extension target.”
He added that results from the program would guide geological modelling at Minyari.
The market was happy with the news, and at 12:58 AEDT, Antipa was trading at 1.1 cents, a rise of 9.99 percent since the market opened.
