- Antipa Minerals (AZY) has identified 12 new geophysical targets at the Wilki farm-in project with Newcrest Operations
- These targets range from 350 metres to 3.95 kilometres, and many have not been subject to historical drilling
- During November and December, 14 reverse circulation (RC) holes were drilled across four electromagnetic and magnetic targets
- This worked intersected minor zones of anomalous gold, copper, silver and pathfinder elements, however, no significant mineralisation was identified
- For the remainder of the year, Antipa will undertake aircore drilling over areas with existing anomalies and review and interpret historical exploration data
- Antipa has ended the day in the grey with shares trading at 0.6 cents
Antipa Minerals (AZY) has identified 12 new geophysical targets at the Wilki farm-in project with Newcrest Operations.
These targets range from 350 metres to 3.95 kilometres in length and many have not been subject to historical drilling.
In February 2020, Antipa and Newcrest entered a $60 million farm-in and joint venture agreement which will allow Newcrest to earn a 75 per cent interest in the project.
To earn a 51 per cent interest, Newcrest can spend $16 million over seven years.
This can then be extended to 75 per cent once a further $44 million is spent within an eight year period.
During November and December, 14 reverse circulation (RC) holes, for 3737 metres, were drilled across four aerial electromagnetic and magnetic targets.
This worked intersected minor zones of anomalous gold, copper, silver and pathfinder elements, however, no significant mineralisation was identified.
PA5
At the PA5 target, anomalous gold and silver was identified with grades peaking at 0.17g/t and 0.55g/t, respectively.
Up to 578 parts per million (ppm) zinc, 799 ppm copper and 87 ppm bismuth was also encountered.
Grilla
At Grilla, up to 2.77g/t silver, 951 ppm tungsten, 625 ppm lead, 357 ppm zinc and 70 parts per billion (ppb) gold was encountered.
NP30
Up to 1.64g/t silver was identified at the MP30 target as well as 519 ppm zinc.
MD5
The final target, MD5, returned up to 0.10g/t gold and 946 ppm tungsten.
Additionally, one of the planned holes for the Chicken Ranch gold deposit was not completed due to significant rainfall.
While it did not reach its target depth, a result of one metre at 1.95g/t gold was returned.
“Whilst the initial four RC targets tested intersected minor zones of anomalous mineralisation, we are now focused on the multitude of compelling new greenfield geophysical targets along with brownfield resource growth opportunities all very close to Telfer which provide an exciting framework for this year’s Wilki Project exploration program,” Managing Director Roger Mason commented.
For the remainder of the year, Antipa will undertake aircore drilling over areas with existing anomalies and review and interpret historical exploration data.
Antipa has ended the day in the grey with shares trading at 0.6 cents in an $8.25 million market cap.