Antipa Minerals (ASX:AZY) has given investors their first taste of what its current brownfield development program could bring, boosting its Paterson resource to 13.6 million tonnes at 1.9 grams per tonne gold for 827,000 ounces.
It told the market this morning that it had declared a maiden mineral resource of 2.6Mt at 1.3g/t for 104,000/oz for its brownfield Chicken Ranch and Tim’s Dome areas.
Antipa’s overall mineral resource also includes 26,400 tonnes of copper, 233,000/oz of silver and 4000 tonnes of cobalt.
While the company is in the midst of an aggressive greenfield campaign, it is also drilling out brownfield targets to add more resource close to the historic Telfer gold mine.
- Completed drilling at Turkey Farm, with assays coming soon
- Targeted further drilling at Tim’s Dome, both along strike and depth
- Aimed for an upgrade at Minyari-WACA
- Moved to firm up additional brownfield targets such as Pajero and Triangle
It all fits within a broader plan for Antipa, to chase big targets with its greenfield drilling while systematically adding resource by drilling out brownfield extensions.
Antipa said that it expects to “convert several additional satellite brownfield targets to resource status in the coming year [to] provide further support to the company’s development aspirations.”
The resource upgrade is the first noise from the company since it officially fired the starter’s pistol on its exploration campaign for the year, one which has been hyped as a potential company maker with interest in the Paterson Province at a high watermark.
The company has split its campaign on its 100 percent-owned ground into two parts:
- Greenfield drilling to provide new resources
- Brownfield drilling to provide resource extensions
The greenfield campaign will:
- 20,000m of air core and slim-line reverse circulation drilling — aiming to drill up to 26 targets.
- Drill testing of several ‘Haveiron lookalikes’
The brownfield drilling on the other hand will include:
- Follow-up drilling at Chicken’s Ranch and Minyari Dome
- Looking at the gold resource potential of Turkey Farm, Pajero, and Triangle
- A geophysical survey and additional drilling at Tim’s Dome
- Possible further resource upgrades
About Antipa Minerals
Antipa Minerals has emerged as one of the key players in Western Australia’s Paterson Province region, having first snapped up acreage in 2011.
At that time, the company was of the belief that the province could yet throw up more tier-one discoveries such as Newcrest Mining’s world-class Telfer gold and copper operation, and so Antipa built a portfolio in excess of 5,000 square-km of prime exploration ground, stretching for 150km and coming within 3km of the Telfer mine.
While its JV with Rio has attracted attention, its 100 percent-owned North Telfer Project has a resource of 723,000 ounces of gold and 26,000 tonnes of copper, plus silver and cobalt, from its high-grade Minyari and WACA deposits.
Map of Antipa’s holdings in the Paterson
This content is produced by Star Investing in commercial partnership with Antipa Minerals. This content does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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