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Earlier this week emerging exploration company Antipa Minerals (ASX:AZY) told the market that it was about to embark on an exploration campaign in the Paterson Province — we sat down with executive chairman Stephen Power to talk all about it:

SI: So thanks for joining me today Stephen. So we’re here to talk to you about the upcoming exploration program and to get some context about why this exploration program is so important for the company.

Stephen: Well James I think that the essential point is that we’ve split our exploration program into brownfield, increasing the resource style objective which we carried out the drilling for last year,  and this year basically where we’re concentrating on the blue sky. The blue sky is where you are exposing shareholders to the ability to make — multi-bagger as they call it — in gains.

So your share price can increase by 2, 3, 5 times because of an exceptional discovery which can be made. So I think that’s what we expose our shareholders to With this upcoming exploration program.

SI: Well that sounds really exciting. So the exploration there as you alluded to can be kind of split into two parts: you’ve got greenfield and brownfield. Let’s talk about the really exciting blue sky drilling first. Can you talk me through the greenfield exploration plan.

Stephen: Last year we did a number of surveys, we did aerial E.M. which is electro mag that picks up electromagnetic responses in the ground. We then basically the anomalies that that picked up we rated nine Priority 1 targets, which included a large one just north of the Winu discovery which is made by Rio and we on a 100 percent underground and we’ll drill those nine Priority 1 targets in a program which starts in April.

SI: Great. So let’s say everything goes to plan and everything is hunky dory — from a news flow perspective, when can we expect to see results that sort of filter through to the market?

Stephen: Sure. Well we start in April, batch the results and get the get the essays done. If there was something extraordinary coming out which we could actually see, which could happen conceivably, you’d have to announce that sort of straight away.

Otherwise, you would wait for the essays and that would take perhaps eight weeks from from the first drilling we should our first batch of results out.

But it’s a ‘watch this space’ sort of thing. It’s that type of thing that if you come across something things can happen very quickly. You can put two drill holes in, and if things happen quickly you get that those samples flown down to a lab and get them processed on an urgent basis. That sort of thing you can really get moving quickly, and that’s what’s so exciting about this is sort of part of the exploration phase.

SI: The exciting part about investing in any sort of any sort of small cap exploration company is you get results very quickly, and that can convert the share price very quickly as a result.

Stephen: Absolutely, absolutely. And at this stage it’s really not brain surgery because we’ve got the anomalies. You go in you do some Air Cores and Slim Line drilling program, so you put down two or three holes into an anomaly and you should get those results pretty quickly — so you can really turn things around very quickly.

SI: I just want to go back to that magic word you mentioned before, Winu. So the first phase of that Greenfield program is testing targets within what the company calls the ‘El Paso corridor’ and that’s where Winu sits.

Talk to me about why that’s so exciting and why everybody is excited by this new discovery

Stephen:  That was discovered using exactly the same method that we’ve used for previous our own previous discoveries, and what we using today.

So we knew was was an aerial E.M. anomaly. They went and sunk three holes into it, as I understand, and ended up with something that they knew was significant. So I think that’s what we understand.

They haven’t announced anything we don’t know whether it’s big, small or indifferent. But what they’ve done on the ground points to it being something pretty significant to say the least, and we we’ve got one just north of there.

We do the same thing. And so these things can can happen pretty quickly because in a company like ours we’ll announce it straight away. You’ll get an immediate turnaround.

SI: And as you said, three holes and all of a sudden there’s a mining camp on an airstrip nearby…

Stephen: That’s right — they will have drilled it out now, and I think it goes about one and a half kilometres along strike and 800 meters wide. So it’s getting pretty big.

SI: So the second phase of the program basically involves as I understand testing anomalies which are being described as ‘Haveiron-like’,I hope I’ll have that correct by the way. For those playing at home, why is that so important?

Stephen: Well they might have heard of a company called Greatland Gold, and they enjoyed a spectacular price run late last year and early this year, and it was basically all the results they got from the Haveiron discovery.

Haveiron was an existing Newcrest discovery, which they drilled and got some spectacular results, which increased their share price.

We’ve modelled that, it’s a mag response — or a magnetic response or a magnetic anomaly. Different sort of thing from the aerial EM.

But it basically helps you determine what’s underneath the cover and where, and we’ve looked at have our own magnetic response and we’ve looked at where that occurs for us.

Those sort of responses also occur on our own property and in the sort of back half of this year we’ll be testing those anomalies.

SI: And you mentioned the word ‘cover’. I think the one of the more exciting things about Antipa Minerals is that it’s exploration ground…the targets are not a lot of cover whereas something like Haveiron is under about 400 meters of ground as standard.

Stephen:  Yeah look that’s one of the real positives of our of our land holding.

We’ve got five and a half thousand square kilometres, and  50 percent of our tenements are under less than 20 meters of cover. So the rocks or the mineralization, if you find it, is going to be closer to the surface and our with existing resources that mineralization occurs 10 meters or less under the surface — which means it’s cheaper to explore.

You can put holes down cheaper and it’s also cheaper to produce because it’s more than likely going to be open pittable. So really it’s a great benefit.

SI: So let’s look through the brownfield program because that’s no less exciting than the sort of blue sky exploration program, and Antipa told the market that it should be in a position to deliver a maiden resource at both Chicken Ranch and tim’s Dome — do I have that right?  

Stephen: Absolutely. In April we should be able to announce some maiden resources from Chicken Ranch and Tim’s Dome.

The exciting thing about it is that they’ll add to the existing Minyari/WACA three quarters of a million ounce resource — and Minyari/WACA is 40km from Tim’s Dome, which is about 12km away from Telfer and 15km away from Chicken Ranch.

So you’re setting up this thing whereby they’re all close to each other so you can either process it build a process plant yourself, or maybe do a deal with Newcrest to use existing their 20 million tonne per annum plant.

SI:  So talk to me about what exactly you’ll be doing without brownfield program what that looks like, and when the market may start to see results from that — assuming of course everything goes swimmingly.

Stephen: Look we’ll be doing two things:  we’ll announce the update updated the maiden resources and then we’ll also be doing some further exploration around some areas called Turkey Farm, Triangle and Pajero.

Those again are all very close to the existing mineralization and resources we’ve got.

So we’re working up this camp style sort of format where you’ve got the additional resources that can be trucked to various places within them where you either build a processing plant or use Telfer.

So that’s that’s what we’re doing. It’s basically aimed at giving us a cash flow in the not too distant future.

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.