Antipa Minerals (ASX:AZY) has sketched out key details of a $3.4 million joint venture program with Rio Tinto (ASX:RIO) in the Paterson Province
AT A GLANCE:
- Project at Citadel will include major ground-based electrical geophysical survey over 620 square kilometres, and 4000m of reverse circulation test test targets generated from this survey
- 2300m of combined reverse circulation and diamond core drilling testing resource extension targets at Calibre
- 4000m aircore drilling program to test eight existing gold-copper targets.
The large-scale Gradient Array Induced Polarisation (GAIP) program over 620sq.km will kick off next month.
The combined 10,300m drilling campaign will start after this, potentially as soon as July.
Antipa is the operator of the joint venture program after Rio Tinto handed over operator responsibility in March.
The exploration is part of a broader farm-in program, whereby Rio can earn a 75 percent joint venture interest in exchange for $60 million in exploration spend. The current exploration program accounts for $3.4 million of the cap.
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ABOUT ANTIPA MINERALS (ASX:AZY)
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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