Antipa Minerals Limited (ASX: AZY) has announced a highly encouraging update on the ongoing exploration programme at its 100% owned ground in the Paterson Province of Western Australia.
The company reported that six RC drill holes confirm multiple zones of significant copper‐gold‐silver‐lead‐zinc mineralisation at previously identified targets, including Serrano‐Poblano Prospects and Grey Prospect.
Significant assays from drilling at the Serrano-Poblano prospects include 4.0m at 8.1 g/t gold and 0.23% copper from 194m; 12.0m at 0.90 g/t gold, 0.24% copper, 1.29 g/t silver and 0.10% tungsten from 165m; and 79.0m at 0.20 g/t gold and 0.06% copper from 110m down hole.
The company reported that the drilling at Grey Prospect returned results of 3.0m at 197.2 g/t silver, 0.9% copper, 2.2% lead, 0.2% zinc and 0.12 g/t gold from 66m down hole in 19EPC0032, including 1.0m at 562.0 g/t silver, 2.3% copper, 6.3% lead, 0.4% zinc and 0.32 g/t gold.
The company said that two new precious and base metal trends were identified within the El Paso Structural Corridor with drilling confirming the potential for multiple discoveries.
AZY said that the phase 2 exploration programme was recently completed, with final results awaited for several RC drill holes, the 600km2 AEM survey, and induced polarisation survey.
The company reported that the exploration programme is aiming to deliver large‐scale discoveries based on Telfer, Winu, Havieron, and Nifty analogues.
Antipa owns nearly 1,140km2 within the Paterson Province in Western Australia. El Paso Corridor is a prominent geological structure that runs through its Paterson tenements.
A trend of mineralisation within the El Paso Corridor had intersected significant gold-copper +/- zinc mineralisation under shallow cover along a strike length of 1.8km. The strike included the Reaper (AEM32), Poblano, and Serrano targets.
The company reported that it has now identified the presence of a second mineralisation trend at the Grey prospect within the El Paso structural corridor.
Greenfield exploration drilling activities
AZY said that its recent greenfield exploration drilling activities have continued to deliver success with the discovery of further new copper‐gold‐silver‐lead‐zinc mineral systems, confirming the highly prospective nature of the Company’s tenure.
The company announced that the drilling has also confirmed the presence of a second new mineralisation trend at Grey (AEM28) beneath shallow cover within the El Paso Structural Corridor.
Drilling at Serrano-Poblano prospects
At Serrano, Poblano, and Reaper, four RC holes were completed to follow‐up the nine previously reported broad spaced RC drill holes.
The company reported that further significant gold‐copper mineralisation was intersected along a strike length of approximately 1.8km under shallow (10 to 23m) cover within this new mineralised El Paso Structural Corridor trend.
The company said that limited very broad spaced drilling at Serrano‐Poblano‐Reaper defines a 1.8km long, several hundred metre wide mineralised zone open in most directions.
Encouraging assay results
Antipa said that the drilling at the Serrano-Poblano prospects returned assays of 4.0m at 8.1 g/t gold and 0.23% copper from 194m down hole in 19EPC0020 (Serrano); 12.0m at 0.90 g/t gold, 0.24% copper, 1.29 g/t silver and 0.10% tungsten from 165m down hole in 19EPC0028 (Poblano), including 6.0m at 1.40 g/t gold, 0.31% copper, 1.66 g/t silver and 0.17% tungsten; 2.0m at 2.16 g/t gold, 0.17% copper and 0.87 g/t silver from 126m down hole in 19EPC0029 (Poblano); and 79.0m at 0.20 g/t gold and 0.06% copper from 110m down hole in 19EPC0030 (Serrano), including 1.0m at 2.83 g/t gold and 0.01% copper, 5.0m at 0.52 g/t gold and 0.04% copper, 18.0m at 0.17 g/t gold and 0.18% copper, also including 2.0m at 0.43 g/t gold and 0.48% copper at end of hole.
Potential for major mineral deposit
Antipa said that further exploration of this area has significant potential to identify a major mineral deposit. The company said that a soil sampling programme was recently conducted over the area and due to the thin cover, these samples will be analysed using an ultrafine fraction analytical technique.
AZy reported that further drilling and ground‐based geophysical surveys are envisaged for 2020.
Drilling at Grey (AEM28) target
Grey is located approximately 8km southwest of Serrano and 32km north‐northwest of the Minyari deposit.
At Grey two RC holes were completed to follow‐up the previously reported single traverse of three RC drill holes and eight air core holes, which had returned strong Cu‐Zn‐Co‐Au‐Ag air core anomalism across 350m above the EM target.
To evaluate the potential for improvement in the observed mineralisation at Grey, a further two RC drill holes were completed, one 250m northwest and one 250m southeast along strike of the initial drill section.
The company announced that the northern hole at Grey intersected narrow but very high‐grade poly‐metallic semi‐massive sulphide mineralisation grading up to 18 ounces of silver.
AZY said that drilling returned intercepts of 3.0m at 197.2 g/t silver, 0.9% copper, 2.2% lead, 0.2% zinc and 0.12 g/t gold from 66m down hole in 19EPC0032, including 1.0m at 562.0 g/t silver, 2.3% copper, 6.3% lead, 0.4% zinc and 0.32 g/t gold.
AZY reported that the high‐grade mineralisation (19EPC0032) intersected on edge of modelled EM target 250m north of supergene copper mineralisation in drill hole 19EPC0003 – Grey electromagnetic and magnetic targets remain largely untested. The company said that further drilling and ground based geophysical surveys are envisaged for 2020.
Phase 2 exploration
The company reported that the Reverse Circulation (RC) drilling component of the Phase 2 programme was completed on the 18th of November and involved 9,200m following up AEM targets and testing several aeromagnetic anomalies targeting gold‐copper discoveries.
AZY said that the geophysical campaign included an additional AEM survey covering approximately 600km2 to define further AEM targets and a Gradient Array Induced Polarisation (GAIP) survey at the Minyari Dome aimed at generating additional greenfield targets and extensions to existing gold‐copper resources.
Both geophysical surveys were recently completed, and final data is expected to be received by the end of November.
Updates and next steps
The company reported that the planned further work includes ongoing review and interpretations of the 2019 and historical exploration data; planning and execution of follow‐up exploration activities to identify potential high‐grade mineralisation; geophysical data modelling (including AEM and Aeromagnetics); and Full geological interpretation including 3D modelling.