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Highlights
- Antipa Minerals confirms strong potential for Minyari Dome Project.
- Forecast mine life extends beyond a decade with significant gold output.
- Phase 2 drilling program continues to explore expansion possibilities.
Antipa Minerals Ltd (ASX:AZY) has reaffirmed the promising potential of its Minyari Dome Gold Project in Western Australia, based on a recently updated scoping study. This study highlights both the technical and financial feasibility of a standalone gold mining operation, which builds on a revised September 2024 mineral resource estimate (MRE).
The Minyari Dome Project is strategically located, just 35 kilometers from Newmont’s Telfer gold-copper-silver processing facility and within proximity to the Greatland Gold-Newmont Havieron development. These nearby operations add optionality and potential synergies for the Minyari Dome, should external collaborations be explored.
The updated scoping study outlines a long mine life, predicting gold production spanning more than ten years. The total initial gold output is forecast at 1.3 million ounces, with an annual average of 130,000 ounces. The study projects an all-in-sustaining-cost (AISC) of A$1,721 per ounce, a reflection of the operation's economic viability.
Development costs are forecast at A$306 million, covering both pre-production expenses and initial mining activities. The project is set to combine both open pit and underground mining, processing a total of 30.2 million tonnes of ore, which contains around 1.5 million ounces of gold.
Financially, the pre-tax NPV7 is estimated at A$834 million under a gold price of US$2,100 per ounce, with potential for further upside depending on market conditions.
Antipa’s management, represented by managing director Roger Mason, emphasizes the significant opportunities for continued exploration. With Phase 2 drilling underway, the company aims to expand the resource base and explore additional gold-copper targets. Antipa also hints at potential third-party collaborations, adding flexibility to the project’s development strategy.
Looking ahead, the company is fully committed to its exploration efforts through 2024 and 2025, setting the stage for growth as the resource base expands through further drilling activities at the Minyari Dome Project.
