Antipa Minerals (ASX:AZY) has identified four targets on its Paterson tenements in Western Australia that it thinks look eerily similar to a nearby gold discovery described by commentators as “spectacular”.
It told the market today it had wrapped up an aerial electromagnetic survey over 260km2 of ground at North Telfer and Paterson, and that the survey had firmed up four new anomalies which demanded attention.
The company said the four anomalies were “Havieron gold-copper deposit lookalikes” in nature, a reference to the discovery made by UK-listed Greatland Gold nearby last year.
Coverage of the discovery in The Australian described it as producing “one of the most spectacular drill results to come out of Australia in recent memory.” [$]
A hit there included a whopping 275m at 4.77 grams per tonne gold from 459m downhole — setting Greatland’s share price ablaze and triggering speculation it may look for an Australian listing.
Antipa anticipates conducting initial drill testing of the Havieron lookalikes in April this year.
“These aeromagnetic targets, along with the AEM targets identified in 2018, will be systematically evaluated this year with the aim of making a world-class discovery in Western Australia’s underexplored Paterson Province,” Antipa managing director Roger Mason said.
In addition to the Havieron lookalikes, the survey also firmed up targets along strike from Rio Tinto’s Winu discovery — which has been the centre of the recent explosion of interest in the province.
Speculation has been rife that Rio has its foot on a large copper system at Winu, after satellite imagery emerged last year of the company setting up an airstrip and 50-person camp nearby.
While the latest survey results have given Antipa more exciting targets to follow up, it has no shortage of work underway across its 5,500km2 landholding in the Paterson. .
Ongoing exploration activities include:
- Greenfield aerial EM target exploration activities during March include second heritage survey and planned commencement of drilling;
- Greenfield aeromagnetic drill targeting;
- Ongoing brownfield target evaluation, including Turkey Farm prospect drilling expected to commence in April 2019;
- Planning for additional ground based electrical geophysical surveys; and
- 3D geological modelling and Mineral Resource estimation.
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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