As per the latest ASX announcement on 10th December, Antipa Minerals Limited (ASX: AZY) shared the further expansion plan of its major Paterson Province Exploration programme, with the critical focus towards commencing multiple exploration and development projects across its North Telfer and Paterson Projects.
Antipa Managing Director, Roger Mason, commented: “We are pleased to commence our expanded greenfields exploration programme with 11 priority AEM targets currently defined and additional aeromagnetic targets that will be systematically evaluated in 2019.
This reflects our strategy to pursue the brownfields exploration and development of our Paterson and North Telfer Projects, together with an active greenfields programme, where Antipa is seeking to make a world class discovery”.
Antipa Minerals Limited is an Australian based mineral exploration company in the Metals and Mining sector. It runs significant operations in Paterson Province with the aim of developing top-notch discoveries. Major projects of the mineral explorer include Citadel, North Telfer and Paterson.
Antipa’s Paterson Province exploration tenement portfolio which totals 5,500km2 was strategically accumulated over the most shallowly covered portion of the site. As per company estimates, it has accumulated 56% of the eastern Paterson Province which is under less than 80m of cover. The company launched the major exploration program in Western Australia’s Paterson Province in July 2018 running almost a month ahead of the project timelines. The programme aims at unlocking province’s next mine development authority.
Company’s major drilling programme for the year now includes high-resolution aeromagnetic survey covering a total area of 260 km, with the objective of refining existing and defining new magnetic high anomalies. The focus is on high-quality copper and gold exploration and mineralization. The survey has proximity to Rio Tinto’s exploration base and Greatland Gold Plc’s Havieron site.
The greenfield exploration programme includes 11 priority airborne electromagnetic (AEM) targets and additional aeromagnetic targets to be evaluated in 2019. Both AEM and aeromagnetic have resulted in significant discoveries in the Paterson Province so far and offer pivotal exploration techniques for gold and copper deposits. The programme will comprise a planned 50,000m Reverse Circulation and air core drilling campaign and surface geochemical sampling and geological mapping programmes.
The large-scale aeromagnetic survey has been completed over the first tranche of high priority AEM conductor targets and the drilling is expected to commence soon.
Antipa Minerals has a market capitalization of $ 50.55 million and the earnings per share is around -0.002 AUD. Shares opened at $0.031 at ASX earlier today and are hovering around the same levels though slightly down to $0.029. The intraday increase has still been 3.6%.
What is worth noting is that Company’s stock has witnessed a drastic rise of around 33% with $0.021 price at 2018 beginning. The stock holds a positive outlook in near future with company’s long run strategy of owning and expanding high-quality significant exploration projects.
The Paterson Minerals Province possesses world-class mineral deposits however it remains substantially under-explored. and the Antipa group has expertise with a proven track record of discovery, exploration, and commercialization.
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