Antipa Minerals (ASX: AZY) has achieved a major update to the Mineral Resource Estimate (MRE) for its 100% owned Minyari Dome Gold-Copper Project in the Paterson Province of Western Australia.
The substantial update includes a 33% increase in contained gold, and an upgrade in Mineral Resource confidence for 53% of the material. The updated MRE comprises 2.3 million gold-only ounces, an increase of 573,000 ounces from the May 2022 MRE.
The boost in Resource scale further adds to the projects already substantial standalone development potential, underpinned by its strategic location, just 35km the Telfer gold-copper-silver mine and 22Mtpa mineral processing facility and 50km along strike from Greatland Gold Plc’s (LSE: GGP) Havieron gold-copper development project.
With the recently announced sale of its interest in the Citadel Joint Venture Project for $17 million, the company is very well funded to progress the Minyari Project through advanced studies towards a mine development decision.
“We are delighted to announce this substantial update to the Mineral Resource estimate for our Minyari Project, which significantly enhances the value of what was already a highly attractive and strategically important development project,” Managing Director, Roger Mason, said.
“The update includes a 573,000-ounce increase in contained gold and provides greater geological confidence, with 68% of the total material now residing in the Indicated category.
“The project now hosts a sizeable 2.3-million-ounce gold only Resource, with strong potential for future growth across multiple deposit areas.
“With gold prices reaching all-time highs and market momentum remaining strong, the value of these newly defined ounces is more pronounced than ever. Recent corporate consolidation within the Paterson Province spotlights the region’s strategic importance as a world-class gold and copper district. This activity, combined with our own progress, underscores the opportunity for large-scale developments and strengthens our position within this highly prospective area.
“We remain committed to further expanding our resource base through continued exploration at the GEO- 01 and Minyari extensional targets, along with other nearby prospects, which are the focus of our upcoming drilling programme.
“We also look forward to providing an update to the August 2022 Scoping Study later this month, incorporating the updated resource and better reflecting prevailing gold market conditions
“Armed with a very strong balance sheet and with plenty of activity scheduled, we are excited about the months ahead as we continue unlock the full potential of this exceptional asset.”
