Rio Tinto is remaining tight-lipped about what it has discovered on tenements neighbouring Antipa Minerals (ASX:AZY) in the remote Paterson Province in northern Western Australia, but there is mounting evidence that it is something special.
The prospect, apparently named “Winu”, was identified by Rio Tinto in the second half of 2017 using airborne electromagnetics, an exploration technology that aids in “seeing” through layers of cover to the target rocks below.
After drilling the prospect in December 2017, Rio Tinto has expanded its landholding in the Paterson Province from 1000km2 of 100 percent-owned ground and 1,335km2 of ground in joint venture, to 11,036km2 of 100 percent-owned ground and 1,760km2 of ground in joint venture.
As seen in satellite imagery, Rio has built a large exploration camp and core shed on the tenements.
Rio has lodged an application to build an airstrip, fuel storage facility and meteorological station. The company has also lodged a separate “miscellaneous licence” application to build, among other things, a road stretching several hundred kilometres from the Great Northern Highway to its tenements.
The boundary of Antipa’s Citadel joint venture with Rio is approximately 5 kilometres to the east of the Winu discovery.
Today Antipa has an interest in more than 5,500km2 of prime exploration ground in the region, including the Citadel Project which Rio is currently farming into.
This content is produced by Star Investing in commercial partnership with Antipa Minerals. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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