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Highlights
- Antipa Minerals regains full ownership of Paterson Project.
- Extensive exploration activities expand gold targets.
- Future plans include further drilling near Minyari.
Antipa Minerals Ltd (ASX:AZY) is set to regain full ownership of its expansive 1,520-square-kilometre Paterson Project in Western Australia, following a strategic move that underscores its commitment to the region. The transition comes as IGO Ltd (ASX:IGO), through its subsidiary IGO Newsearch Pty Ltd, opts out of a joint venture, cementing Antipa's position in the highly prospective Paterson Province.
This development marks a significant milestone in the history of the Paterson Project, concluding a four-year collaboration that saw IGO inject approximately $15 million into exploration efforts, particularly in the search for copper deposits. With IGO's departure effective April 30, 2025, Antipa not only recovers full control but also significantly enlarges its holdings in the area to about 4,060 square kilometres.
Antipa’s foresight in securing early opportunities in the Paterson has paid dividends. Roger Mason, Antipa’s managing director, emphasizes the dual benefit of this consolidation. “This strategic tenement package not only surrounds our flagship Minyari Dome Project but also boosts the potential for standalone development while giving us the freedom to explore multiple gold-dominant opportunities,” Mason stated.
The end of the farm-in agreement with IGO gives Antipa the advantage of focusing on both gold and copper prospects across a region dotted with major mining activities, including Greatland Gold’s (LSE:GGP) Telfer Mine and Rio Tinto’s (ASX:RIO) various deposits.
Antipa's recent exploration activities have been fruitful, particularly in expanding the gold mineralisation footprint at the GEO-01 and Rizzo prospects near the Minyari deposit. The last quarter of 2024 alone included 37 drill holes and extensive surface geochemical sampling. This work has not only refined the company's targeting strategy but also uncovered promising results from the Collie geophysical target.
Looking forward, Antipa plans to continue its exploration momentum into 2025, focusing on key prospects near Minyari with further drilling at GEO-01 and Rizzo, along with testing new targets. The upcoming exploration program, soon to be detailed, promises to further enhance the project’s discovery potential.
This robust exploration strategy, coupled with the strategic recovery of full project ownership, positions Antipa Minerals to significantly influence the development of the Paterson Province, turning previously underexplored areas into valuable assets in its growing portfolio.
