Antipa Minerals Boosts Minyari Dome Project Gold Resources by 33%
AZY (AZY) Share Update September 2024 Monday 16th
Antipa Minerals Announces Significant Increase in Minyari Dome Project Resource
Antipa Minerals Limited (ASX: AZY) has announced a substantial update to the Mineral Resource estimate for its 100% owned Minyari Dome Gold-Copper Project in Western Australia.
Instant Summary:
- 33% increase in contained gold, now totaling 2.3 million ounces.
- Resource includes 83,500 tonnes of copper, 661,000 ounces of silver, and 13,000 tonnes of cobalt.
- 53% of the material upgraded to Indicated Resource category.
- Minyari Project now has a total of 47.6Mt at 1.51 g/t gold, 0.18% copper, 0.43 g/t silver, and 0.03% cobalt.
- Maiden Mineral Resource Estimate for the GEO-01 deposit included.
Resource Update Details
The updated Mineral Resource Estimate (MRE) for Antipa Minerals' Minyari Dome Project shows a significant increase in contained gold, now totaling 2.3 million ounces, which is a 33% rise from the previous estimate in May 2022. This increase adds 573,000 ounces of gold to the Resource base.
The updated MRE also includes 83,500 tonnes of copper, 661,000 ounces of silver, and 13,000 tonnes of cobalt. The total Resource now stands at 47.6 million tonnes at 1.51 g/t gold, 0.18% copper, 0.43 g/t silver, and 0.03% cobalt.
Resource Confidence and New Inclusions
In addition to the increase in gold resources, 53% of the material has been upgraded to the Indicated Resource category, with 68% of the MRE now classified as Indicated. This upgrade provides greater geological confidence in the project's potential.
A maiden Mineral Resource Estimate for the GEO-01 deposit has also been included, comprising 6.7 million tonnes at 0.70 g/t gold for 151,000 ounces of gold.
Development Potential
The Minyari Dome Project's substantial Resource update enhances its standalone development potential. The project's strategic location, just 35km from the Telfer gold-copper-silver mine and 50km from Greatland Gold Plc’s Havieron gold-copper development project, further supports its development prospects.
Antipa Minerals is well-funded to progress the Minyari Project through advanced studies towards a mine development decision, bolstered by the recent sale of its interest in the Citadel Joint Venture Project for A$17 million.
The significant increase in gold resources and the upgrade in Resource confidence are likely to positively impact Antipa Minerals' stock. The project's enhanced development potential and strategic location in a world-class gold and copper district further strengthen its investment appeal. However, the broader market conditions and commodity prices will also play a crucial role in determining the stock's performance.
Investor Reaction:
Analysts are expected to react positively to the substantial increase in gold resources and the upgrade in Resource confidence. The project's strategic location and development potential are likely to attract investor interest. However, some caution may be exercised due to broader market conditions and commodity price fluctuations.
Conclusion:
Investors should closely monitor Antipa Minerals' progress on the Minyari Dome Project, particularly the upcoming advanced studies and potential mine development decisions. The significant increase in resources and the project's strategic location make it a compelling investment opportunity in the gold and copper sector.