Antipa Minerals Announced Second Tranche Of Results From Recent RC Drill Programme

  • Oct 08, 2018 AEDT
  • Team Kalkine
Antipa Minerals Announced Second Tranche Of Results From Recent RC Drill Programme

On 2 October 2018, Antipa Minerals Ltd (ASX: AZY) announced the second tranche of results from recent reverse circulation (RC) drill programme at the Minyari Dome area, part of its 100%-owned North Telfer Project 40km northeast of Newcrest Mining Limited’s Telfer gold mine and processing facility in Western Australia.

The RC drill programme was having 45 RC drill holes and it was focused on finding new mineralization near the existing high-grade 723,000-ounce gold, 26,400 tonne copper, and 4,000 tonne cobalt Mineral Resources of WACA and Minyari. The recent high-grade intercepts are continuing to highlight the potential of adding new zones of high-grade mineralization. The company also acknowledged the Western Australia Government’s Exploration Incentive Scheme (EIS), through which it has secured co-funding grants totaling up to $298,000 for up to 8,000m of the 2018 Minyari Dome RC drilling. The Judes mineralization is interpreted to dip steeply towards the west, be 20 to 30m true width, extend for 150m along strike and remain open in all directions. Recent drilling suggests that the Judes mineralization is increasing in both width and grade toward the south and this improving trend has been targeted for possible follow-up drill testing.               

The 2018 results to date highlight the regions with significant potential for high-grade gold and copper mineralization mainly in the Minyari South and Judes areas which confirms the proximal growth potential to the existing Minyari Dome Mineral Resources. The two zones of high-grade mineralization are located approximately 70m south-west of reported 2017 high-grade intercept of 6.0m @ 9.28 g/t gold and 0.05% Cu. Drilling before the 2018 campaign has been predominantly shallow with an average depth of only 27m.

Minyari South results highlight a significant new region of high-grade gold-copper-cobalt mineralization located around 300m from both the Minyari and WACA deposits and confirms the growth potential proximal to these existing mineral resources. The Company is reviewing results to systematically rank high priority targets, which may result in a follow-up programme in late 2018. The current exploration activities in the Minyari Dome area this year include the awaiting 40% of assays from 7,241m of 2018 RC drilling completed to date, following a systematic review of high priority targets, potential follow-up drill testing of several highly prospective areas, including Judes and Minyari South, 3D geological modelling and possible Mineral Resource estimation.

AZY’s share last traded at $0.017 with the market capitalization of circa $30.69 million.

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