The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Antipa Minerals has found new gold, copper and silver intercepts at its joint project with Rio Tinto
  • Highlights from the drilling campaign include 14.45 grams per tonne of gold, 0.64 per cent copper and 4.69 grams per tonne of silver.
  • The two companies entered the joint project in 2015, giving Rio the chance to spend $60 million on developments and increase its interest to 75 per cent
  • Antipa’s share price is down 14.29 per cent at today’s market close, currently trading for 1.2 cents each

At its joint project with mining giant Rio Tinto, Antipa Minerals has intersected further gold, copper and silver mineralisation following a diamond drilling campaign.

Highlights from the recent drilling program include 14.45 grams per tonne of gold, 0.64 per cent copper and 4.69 grams per tonne of silver.

Final results from this year’s exploration efforts at Citadel are expected by the end of next month.

In 2015, the two companies entered the farm-in joint venture for the Citadel project in Western Australia. It gives Rio the opportunity to invest $60 million in the project and assume a 75 per cent interest.

This year, Rio allocated $3.4 million in funding to further exploration at the project. Exploration included 6842 metres of reverse circulation and diamond-core drilling.

A resource estimate of Citadel forecast it to hold 1.6 million ounces of gold and 127,300 tonnes of copper across the Calibre and Magnum deposits.

Antipa’s share price is down 14.29 per cent at today’s market close, currently trading for 1.2 cents each.

AZY by the numbers
More From The Market Online
The Market Online Video

Triton Minerals (ASX:TON) executes material transaction for Ancuabe Graphite Project, Mozambique

Keely Lynch:

It’s hard to imagine a world without a mining company called Anglo American

Growing up in South Africa it seemed inconceivable that Anglo American, a mining colossus at its zenith…

Matador snaffles high grade copper play in Newfoundland

Matador Mining is set to add a high-grade copper play in the Canadian province of Newfoundland…

Provident Aurum’s off-market bid sends Sihayo shares soaring

Small-cap mineral and gold explorer, Sihayo Gold (ASX:SIH) shares have soared, on news that the company…