Antipa Minerals (ASX:AZY) has launched an expanded phase two drilling program at its Minyari Dome Gold-Copper Project in Western Australia.
Under the program, Antipa plans to complete 19,200m of drilling, comprising 10,000m of reverse circulation (RC), 4,200m of diamond core, and 5,000m of aircore drilling.
The $48.4 million market capitalisation company is targeting key growth and discovery targets in the area, plus ‘major’ new greenfield discoveries.
Drilling will be focusing on 3 high-priority, ‘large-scale’ greenfield targets at the Tetris and Pacman areas, as well as a ‘large’ gold-copper prospect in the GEO-01 zone.
Commenting on the drill program, Antipa Minerals Managing Director Roger Mason says the company is ‘delighted’ to have boots on the ground and drill rigs starting to turn at the project.
“Phase two CY2023 exploration is geared towards resource growth and greenfield discoveries, with drilling at GEO-01, Tetris, and Pacman targeting rapid, sizeable success.”
“Phase two CY2023 exploration is geared towards resource growth and greenfield discoveries, with drilling at GEO-01, Tetris, and Pacman targeting rapid, sizeable success”
Following today’s announcement, Antipa’s share price increased 8.33% to close at $0.013 on Tuesday 10 October.
Antipa says the expanded program was enabled by its recent capital initiatives and partially supported by Western Australian Government Exploration Incentive Scheme (EIS) funding grants.
In April 2023, the company announced it had received the EIS funding grant of up to $660,000 for the Minyari Dome project.
Minyari Dome covers 900km-square and is located in the Paterson Province of Western Australia.
Antipa Minerals is a gold-copper exploration company focused on its deposits in the ‘highly prospective’ Paterson Province of Western Australia.
As of 30 June 2023, the company had $5.4 million cash at hand, according to its latest quarterly report. Subsequent to the end of June, the company raised just under $700,000 through a rights issue and received $5 million from a share placement.
Write to Aaliyah Rogan at Mining.com.au
Images: Antipa Minerals
