Antipa Minerals (ASX:AZY) - Managing Director, Roger Mason
Managing Director, Roger Mason
Source: 121 Mining Investment TV
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  • Antipa Minerals (AZY) has received assays from two more holes drilled in an exploration program at the Calibre deposit in WA
  • Antipa and mining giant Rio Tinto’s subsidiary, Rio Tinto Exploration, have teamed up to conduct over 10,500 metres of drilling at the Citadel Project
  • The latest results have confirmed significant widths of gold and copper as well as high-grade gold
  • Looking ahead, Antipa and Rio will conduct an ongoing review of Citadel’s deposit and plan more drilling for next year as they wait on final assays
  • Company shares are up 2.22 per cent and are trading at 4.6 cents

Antipa Minerals (AZY) has received assays for another two holes from a diamond core and reverse circulation (RC) drilling program at the Calibre deposit.

The Calibre deposit is part of the Citadel Project in Western Australia. Both deposits are located around 45 kilometres east of Rio Tinto’s (RIO) Winu copper-gold-silver deposit.

Rio Tinto’s subsidiary, Rio Tinto Exploration, has partnered up with Antipa to conduct the Citadel 2020 Exploration Program. Rio is managing and fully funding the program which now has a budget of $12.6 million.

The companies aimed to test potential extensions and further define and improve ore body knowledge of the Calibre deposit. In addition, the miners have tested certain greenfield targets.

Pleasingly, results from the latest two holes confirmed significant widths of gold and copper along with substantial high-grade gold mineralisation outside the mineral resource boundaries.

Latest results include 146.7 metres at 1.36g/t gold and 0.08 per cent copper from 95.9 metres downhole, including 101 metres at 1.81g/t gold and 0.05 per cent copper from 95.9 metres, and 9.4 metres at 4.26g/t gold and 0.11 per cent copper from 187.6 metres including, 0.9 metres at 19.30g/t gold and 0.09 per cent copper from 192.5 metres.

Overall, the drilling program has confirmed significant gold-copper-silver mineralisation along a 550-metre strike and total mineralisation now extends up to 570 metres below surface, up to 300 metres across strike and over a total strike length of around 1500 metres.

All up, 10,510 metres of diamond core and RC drilling has been completed and assay results have been received for 22 of the 27 holes drilled.

Moving forward, the companies will conduct an ongoing review of the Calibre results as well as the results from a recent geophysical survey. They will also plan to drill greenfield targets next year and potential increase Calibre’s mineral resource.

Company shares are up 2.22 per cent and are trading at 4.6 cents at 10:54 am AEDT.

AZY by the numbers
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