- Antipa Minerals (AZY) has intersected significant gold-copper-silver mineralisation at the Calibre deposit within the Citadel Project
- Drilling aimed to evaluate potential extensions to the deposit’s existing mineral resource
- This exploration program is being fully funded by Rio Tinto through a farm-in and joint venture agreement
- Antipa Minerals is up 9.09 per cent today with shares trading for 1.2 cents each
Antipa Minerals (AZY) has announced reverse circulation and diamond drilling at the Citadel Project has intersected significant widths of gold-copper-silver mineralisation.
The Citadel Project is located within the Paterson Province in Western Australia.
Diamond drilling was undertaken at the Calibre deposit and aimed to evaluate potential extensions to the existing mineral resource.
Significant assay results include: 310 metres at 0.56 g/t gold and 0.06 per cent copper from 95 metres down hole in 19CEC0011, including: 57 metres at 0.90 g/t gold and 0.03 per cent copper from 105 metres, 141 metres at 0.72 g/t gold and 0.10 per cent copper from 257 metres.
Additional results include: 123 metres at 0.69 g/t gold and 0.08 per cent copper from 261 metres down hole in 19CED0019, including: 17.9 metres at 0.97 g/t gold and 0.07 per cent copper from 261.6 metres, and 21.1 metres at 1.05 g/t gold and 0.03 per cent copper from 364.6 metres.
Drilling successfully extended mineralisation approximately 350 metres down dip and along strike to the north of the existing Calibre mineral resource.
Prior to the current drilling, this deposit has a strike length of approximately 1.6 kilometres, was up to 480 metres thick and open in all directions to produce an inferred mineral resource of 47.7 million tonnes at 0.85 g/t gold, 0.15 per cent copper and 0.48 g/t silver for 1.3 million ounces of gold, 69.5 thousand tonnes of copper and 0.73 million ounces of silver.
This shows a very large-scale mineral system with material potential mineral resource and exploration upside under 80 metres of cover and located 45 kilometres east of Rio Tinto’s recent Winu discovery.
This exploration program is being fully funded by Rio Tinto pursuant to a farm-in and joint venture.
In 2015, the two companies entered the farm-in joint venture for the Citadel project. It gives Rio the chance to invest $60 million in the project and assume a 75 per cent interest.
This year, Rio allocated $3.4 million in funding for further exploration at the project.
The 2019 exploration program has now been completed. It included 6842 metres of reverse circulation and diamond-core drilling, testing of both brownfield and greenfield targets.
Antipa Minerals is up 9.09 per cent today with shares trading for 1.2 cents each at 11:59 am AEDT.