Antipa Minerals (ASX:AZY) has officially started drilling 20,000m in the Paterson Province, which could deliver high-grade and large-scale gold-copper discoveries.
It told its investors today that it had started the greenfields program, which is testing leads generated last year which bear similarities to discoveries such as Telfer, Havieron, Winu and Calibre.
Telfer is a Newcrest Mining operation in the region, which boasts a staggering pre-mining 32 million ounces of gold and 1 million tonnes of copper, and appears on-track to produce over 430,000 ounces of gold and 13,000 tonnes of copper this financial year.
Havieron on the other hand is a relatively new gold-copper discovery from UK-based junior Greatland Gold (LON:GGP), which saw its share price shoot up by more than 430 percent on the back of 2018 drill results including a combined drill intersection of 275m grading at 4.77 grams of gold per tonne and 0.61 percent copper, just 9km from Antipa ground.
Rio Tinto’s Winu copper-gold-silver discovery remains the talk of the town after its recent announcement of 60m at 1.22g/t gold and 1.03 percent copper and 741m at 0.5g/t gold and 0.45 percent copper, just 5km from Antipa ground.
Speaking to Star Investing, Antipa executive chairman Stephen Power said that the exploration campaign had the potential to be a company-maker for the business.
“We’re really concentrating on that blue sky … [which is] where you are exposing shareholders to the ability to make a multi-bagger, as they call it, in gains,” Power said.
“Your share price can increase by two, three, five times because of an exceptional discovery. So I think that’s what we expose our shareholders to with this upcoming exploration program.”
Antipa is also fully-funded for the drilling, having bagged $5.1 million in support in April through a placement to sophisticated shareholders. Hartleys and Discovery Capital were joint lead managers to the issue.
The campaign at a glance
The first phase of the exploration program will take the form of 20,000m of air core and slim-line reverse circulation drilling — aiming to drill up to 26 targets.
Surface sampling will also be undertaken closer to Newcrest’s giant Telfer mine, to refine resource targets for follow-up drilling in the second half of the year.
Meanwhile, Antipa has also found another two targets just 8km along strike from Rio’s Winu discovery, with these to be drilled as part of the upcoming drilling campaign.
The market should be informed periodically on the progress of the upcoming drilling – with Antipa to send drill samples off for assay on a regular basis.
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.
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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