Antipa today climbed 9% on a generally red day on the back of an increased resource announcement at their 'Minyari Dome' site in the Patterson Region.
We are very near Minyari with our Koongulla project.
Quoting Antipa from *....
ANTIPA MINERALS (ASX:AZY)The explorer has increased resources 250% to 1.8Moz gold, 64,300t copper, 584,000oz silver and 11,100 cobalt at the ‘Minyari Dome’ project in one of WA’s top exploration hotspots, the Paterson Province.
Is 2.3 million gold equivalent ounces large enough to put AZY on the radar of the ounce-hungry major miners right next door?“
The strategic significance of this resource to Antipa is huge, providing us with the potential to deliver a standalone mining and processing operation located in the rapidly advancing tier-one Paterson Province, nestled between Newcrest’s (ASX:NCM) Telfer mine and Rio’s (ASX:RIO) Winu development project, and surrounded by our Paterson Farm-in Project with IGO (ASX:IGO),”
AZY managing director Roger Mason says.Antipa has begun a Scoping Study – the first proper look at the economics of building a project.
Mason says the majority of the 1Moz ‘indicated’ (higher confidence) resource is within 300m of the surface, which provided strong potential for cheaper open pit mining.“The other exciting resource highlight was the high-grade 1 million gold equivalent ounces at 3.06 g/t gold equivalent, which provides the potential for underground development opportunities,” he says.
AZY expects to resource to get bigger. Minyari Dome is a serious candidate to potentially rival the likes of the nearby 5.5Moz gold and 218kt copper ‘Havieron’ deposit, it says.“The current Minyari resource delivers ~3,000oz per vertical metre from surface,” Mason says.“Given Greatland Gold’s recently revised Havieron resource of 5.5Moz of gold is contained over an approximate 1,000m vertical deposit extent (equating to approximately 5,500 oz per vertical metre), and also noting that the Havieron deposit starts below approximately 430m of cover, Antipa believes that there is further substantial growth potential down plunge at Minyari.
“We think there is strong potential to continue to grow this resource through both extensional and greenfields drilling.”
It will be a nervous wait for test results once we've dug into Koongulla!!
