- Antipa Minerals (AZY) has commenced an exploration program as part of its Citadel Joint Venture Project with Rio Tinto Exploration (RIO)
- The exploration program is being operated and fully funded by Rio Tinto who currently holds a 51 per cent interest in the joint venture
- Under the $9.2 million budget, 13,000 metres of diamond and reverse circulation drilling is being conducted at the Calibre deposit in northwest WA
- A survey is also ongoing along structural corridors to test for gold and copper
- Anitpa’s shares are up 3.85 per cent and trading for 2.7 cents each and Rio Tinto’s shares are also up a slight 1.64 per cent, trading for $93.02 cents per share
Antipa Minerals (AZY) has commenced an exploration program as part of its Citadel Joint Venture Project with Rio Tinto Exploration (RIO).
The Citadel 2020 Exploration Program is being operated and fully funded by Rio Tinto who currently holds a 51 per cent interest in the joint venture.
The drilling program includes a total of roughly 13,000 metres of resource drilling (5000 metres of diamond drilling and 8000 metres reverse circulation) to test potential extensions and further define and improve knowledge of the ore body at the Calibre deposit. Calibre lies 45 kilometres from Rio’s Winu Copper-Gold Project.
The program will also include the continuation of the Gradient Array Induced Polarisation (GAIP) Survey across structural corridors that are prospective for gold and copper mineralisation.
An ongoing review of the Calibre drilling results and Magnum Dome modelling is also being conducted. The aim is to identify more priority target areas, especially for higher-grade mineralisation.
The joint venture program has a budget of $9.2 million which includes management fees and the costs of an Airborne Gravity Gradiometer (AGG) Survey completed late last year.
The Citadel Project is located within the Paterson Province in northwest Western Australia. The project covers an area of 1316 square kilometres and currently contains a mineral resource of 1.64 million ounces of gold and 128,000 tonnes of copper from the Calibre and Magnum deposits.
Before limited drilling was completed last year, Calibre had a strike length of about 1.6 kilometres, was up to 480 metres thick and open in all directions. It produced an Inferred Mineral resource of 47.7 million tonnes at 0.85g/t of gold, 0.15 per cent copper and 0.48g/t of silver for 1.3 million ounces of gold, 69,500 tonnes of copper and 0.73 million ounces of silver.
The Calibre deposit has significant gold-copper potential and an exploration upside under just 80 metres of cover.
Anitpa’s shares are up 3.85 per cent and trading for 2.7 cents each at 10:34 am AEST. Rio Tinto’s shares are also up a slight 1.64 per cent and trading for $93.02 cents each.