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- Antipa Minerals (ASX:AZY) discovers a large gold and pathfinder anomaly 10kms northeast of Newmont’s (ASX:NEM) Telfer mine in Western Australia
- The company also summarised its 2023 exploration efforts for its partnered gold-copper major growth projects in WA
- Assay results for a variety of partnered projects are expected in the coming months, helping to shape planning for 2024 exploration
- AZY shares are up 10.7 per cent, trading at 1.6 cents at 12:37 pm AEDT
Antipa Minerals (ASX:AZY) has discovered a large gold and pathfinder anomaly 10 kilometres northeast of Newmont’s (ASX:NEM) Telfer gold-copper-silver mine in Western Australia.
The company has also outlined the highlights of 2023 exploration activities at its partnered gold-copper major growth projects in the Paterson Province of WA.
Assay results for a pipeline of partnered projects are expected in the coming months, helping to shape planning for 2024 exploration.
Wilki farm-in project
At AZY’s Wilki farm-in project, which is being managed by Newmont, a fresh three-kilometre-long and 1.5-kilometre-wide gold target, named Parklands, was identified.
A peak surface geochemical sample has resulted in multiple grades above 0.1 grams per tonne (g/t) gold, with one sample intercepting 1.52 g/t gold.
The project bridges onto Newmont’s Telfer gold-copper-silver mine, just 10 kilometres northeast, and follow-up surface sampling at the Parklands footprint will be required in 2024 to test the extent of the anomaly.
“We are very excited by the opportunity at Parklands, which provides another high-impact exploration target that has the potential to grow further in scale from an already impressive size,” AZY Managing Director Roger Mason said.
The company’s FY2024 exploration programme is prepared to cover 2300 metres of ground with reverse circulation (RC) and/or air core (AC) drilling. All drilling activities will be operated by Newmont, who is covering the full cost as part of the $60 million farm-in agreement.
Citadel JV project
This year at the company’s Citadel project with Rio Tinto (ASX:RIO), 13 holes for a total of 1943 metres of RC drilling were completed at the Rimfire Southwest and Junction prospects.
The program cost $42.1 million which was fully funded by Rio and operated by Antipa. Antipa also diluted its interest in the project from 32.6 to 31.6 per cent.
Paterson farm-in project
During 2023, Antipa drilled 6600 metres of its planned FY2024 drill program, which comprised 1492 metres of diamond core drilling, 1423 metres of RC drilling and 3708 metres of AC drilling, with all assays pending.
Antipa continues to explore new targets to drill in 2024, with a fully funded program budget from IGO (ASX:IGO) worth $4.2 million.
Further drilling is scheduled to recommence in the second quarter of the 2024 calendar year.
AZY shares were up 10.7 per cent, trading at 1.6 cents at 12:37 pm AEDT.
