Antipa Minerals (ASX:AZY) will start a 20,000m exploration program and work on bolstering existing gold and copper resources with new discoveries as activity in Western Australia’s Paterson Province continues to heat up.
The company told its shareholders today that it would start a drilling campaign in April following up key greenfield targets which may “deliver large-scale discoveries”.
Antipa said it would test key targets which bear similarities to the historic Telfer gold project, the Rio Tinto-backed Winu copper discovery, and the buzz-generating Havieron gold target.
Antipa said one of the most compelling factors is that the overwhelming majority of its key targets lie under just 80m of cover at the most.
What’s more, it said that about 50 percent of its total 5,500 square kilometre tenement package in the Paterson lies under just 20m of cover — making exploration cheaper and easier and also making the jump to a production opportunity more likely.
“This new breed of targets, concealed beneath shallow cover, were generated during our 2018 expanded greenfields exploration programme via state-of-the-art geophysical survey techniques,” Antipa managing director Roger Mason explained.
“The 2018 AEM and 2019 aeromagnetic targets will be systematically evaluated this year with the aim of making a world-class discovery in Western Australia’s underexplored Paterson Province.”
The first phase of 2019 exploration involves the drilling of 20,000m of air core and reverse circulation drilling — testing up to 25 targets.
The drilling will take place in the ‘El Paso Corridor’, a major structure that runs through Antipa’s ground and also hosts Rio Tinto’s Winu discovery and Greatland Gold’s Havieron gold project.
Winu generated new-found buzz for the Paterson last year when it emerged that Rio was constructing a camp and airfield in the neighbourhood, signs that the company considered the discovery significant
Drilling at Havieron in November produced what has been called “one of the most spectacular drill results to come out of Australia in recent memory.[$]”
The exploration at El Paso could provide more buzz for the Paterson, as historically exploration efforts have been “superficial and largely ineffective”, providing optimism that a more methodical approach may result in success.
It said the exploration drilling would start in April, with results from the program due at regular intervals after that.
Maiden resource for satellite prospects
Not content with focusing on the greenfields targets, Antipa is also working on delivering maiden resources for the Chicken Ranch and Tim’s Dome brownfield gold targets.
In addition, it said it should be in a position to deliver a resources update at the Triangle area, Pajero area and Turkey Farm along with Chicken Ranch and Tim’s Dome.
Antipa said it would undertake aircore and RC drilling at Turkey Farm and take further surface sampling which should give it enough information to declare a maiden resource for the area.
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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