Antipa Minerals Ltd (ASX:AZY) has increased the mineral resource estimate (MRE) for its Minyari Dome project in Western Australia, with its figure for contained gold growing by 33% to 2.3 million ounces – representing and additional 570,000 ounces of gold.
The update also revealed a 53% increase in confidence for the MRE, with 68% of the data now in the indicated resource category.
Overall, the new resource at Minyari – located in WA’s Paterson Province – is 47.6 million tonnes (Mt) at 1.51 grams per tonne (g/t) of gold, 0.18% copper, 0.43 g/t silver and 0.03% cobalt, yielding 2.3 million ounces (oz) of gold, 84,000 tonnes of copper, 661,000 ounces of silver and 13,000 tonnes of cobalt.
The new data included a maiden MRE for the GEO-01 deposit – this being 6.7Mt at 0.70 g/t gold for 151,000oz of gold.
Antipa said the increase enabled consideration of Minyari as a standalone development project, with a scalable open pit and underground development – this is based on the fact that the project has resources starting from the surface and several deposits remaining open in numerous directions.
Managing Director Roger Mason said the company had several activities planned to capitalise on these new figures, including updating a scoping study from August 2022.
“We are delighted to announce this substantial update to the Mineral Resource estimate for our Minyari Project, which significantly enhances the value of what was already a highly attractive and strategically important development project,” he said.
“The project now hosts a sizeable 2.3-million-ounce gold only Resource, with strong potential for future growth across multiple deposit areas.
“With gold prices reaching all-time highs and market momentum remaining strong, the value of these newly defined ounces is more pronounced than ever.
“We remain committed to further expanding our resource base through continued exploration at the GEO-01 and Minyari extensional targets, along with other nearby prospects, which are the focus of our upcoming drilling programme.”
Antipa has been trading at 1.7 cents.