Antipa Minerals advances two-pronged approach to gold-copper development in Paterson Province
Antipa Minerals Ltd (ASX:AZY) is on the path towards developing its assets in the Paterson Province of Western Australia and has a two-pronged approach - with its joint venture partners and independently on its 100%-owned ground.
The Citadel Joint Venture Project with Rio Tinto Limited (ASX:RIO) (LON:RIO) (OTCMKTS:RTNTF) consists of around 1,300 square kilometres and includes the Calibre resource of 1.3 million ounces of gold and 70,000 tonnes of copper, as well as the Magnum resource with 339,000 ounces of gold and 58,000 tonnes of copper, plus a total combined total of 1.2 million ounces of silver.
Antipa also holds the 100%-owned Minyari-WACA deposits, which hosts a resource of around 750,000 ounces of gold at 2 g/t with 26,000 tonnes of copper.
In addition, the company has two farm-in projects with Newcrest Mining Ltd (ASX:NCM) (TSE:NCM) (FRA:NMA) (OTCMKTS:NCMGY) and IGO Ltd (ASX:IGO) (OTCMKTS:IPGDF) in the province, with both partners undertaking greenfields exploration this year.*"Calibre start-up feed for Winu"*
Antipa executive chairman Stephen Power said: "We have got two nearer-term development opportunities and we've also got large exploration ground which is being explored with the assistance of (and paid for) by our major joint venture partners.
"The Calibre resource on the Citadel Project, is around 45 kilometres away from Winu, which is Rio's near-term copper-gold-silver development that they expect to be in production in around 2024.
"Our Calibre resource is two things, it's higher grade than Winu and it's also better metallurgically so we think it's an excellent prospect as a start-up feed opportunity for Winu.
"Notably, Rio upped their 2020 exploration budget from $2 million to $12.6 million which will deliver an upgraded mineral resource but also preliminary metallurgical test-work and possible early-stage development studies for Calibre."
Power said the company was targeting the mineral resource upgrade for the current quarter or potentially early in the next quarter.