Antipa Minerals (ASX: AZY) - $60m exploration JV with RIO a good confidence builder
Antipa Minerals (ASX: AZY) maintains a first-class acreage position within the mineral-rich Telfer province in Western Australia – a fact reinforced by the recent signing of an agreement with Rio Tinto Exploration, which allows for Rio to spend up to $60m on Antipa’s flagship Citadel gold and copper project, which already hosts a sizeable combined resource of 1.2M ounces of gold, 139,000 tonnes of copper and 1.4M ounces of silver. The JV with Rio is a major breakthrough for Antipa in terms of guaranteeing exploration funding and reflects the underlying resource potential of the Citadel project, which lies just 75km north of Newcrest’s Telfer gold-copper-silver deposit. It also recently advised that a review of two newly acquired prospects had identified significant high-grade gold (with copper) mineralization from drilling work conducted by previous owners and a follow-up drilling program is just about to commence. The upcoming drilling program at Minyari is of strong market interest, as the project is situated just 40km away from Telfer’s infrastructure.
Gavin has been a senior resources analyst following the mining and energy sectors for the past 25 years, working with Intersuisse and Fat Prophets. He is also the Executive Director, Mining & Metals with Independent Investment Research (IIR).