What is the Significance of Antipa Minerals' Newly Identified Parklands Gold Target?

Antipa Minerals Unveils Promising Gold Target Near Telfer: A Strategic Shift in Exploration Focus

Antipa Minerals Ltd (ASX: AZY), a notable player in the mining industry, has made a significant advancement in its exploration strategy by identifying a new, extensive gold target near the Telfer gold-copper-silver mine in Western Australia.

Discovery of the Parklands Gold Target

Antipa's exploration efforts have led to the discovery of the Parklands target, a vast gold anomaly situated just 10 km northeast of Newmont's Telfer mine. This prospect boasts a coherent gold and pathfinder anomaly that spans 3 km in length and up to 1. 5 km in width.

High-Grade Gold Indications

Surface geochemical sampling at Parklands has revealed impressive gold concentrations, with peak results reaching 1. 52 g/t gold. This high-grade gold presence, complemented by multiple results exceeding 0.

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1 g/t gold, indicates the significant potential of this new target.

Strategic Geological Features

Parklands' location in a favorable mineralization fluid anticlinal trap site, combined with its proximity to a northeast trending structure intersecting Telfer, enhances its prospects. The presence of local thrust faulting concentrated in the fold nose further adds to its appeal.

Antipa's Exploration Programs in CY2023

Antipa’s 100% owned Wilki Farm-in Project, partnered with Newmont, includes comprehensive exploration plans. The FY2024 exploration program envisages approximately 2,300m of RC and/or air core drilling. A large-scale airborne gravity gradiometer (AGG) geophysical survey was completed to guide target generation, accompanied by a large-scale surface geochemical sampling program. Exploration activities, fully funded by Newmont, aim for greenfield discoveries akin to Havieron, Winu, and Telfer within a strategic radius of the Telfer processing facility.

Citadel Joint Venture Project with Rio Tinto

The Citadel Joint Venture Project, a collaboration between Antipa (33%) and Rio Tinto (67%), completed 1,943m of reverse circulation drilling at Rimfire Southwest and Junction targets. Funded entirely by Rio Tinto, the program encountered low-grade copper mineralization. Antipa's joint venture interest is set to dilute slightly following the completion of the CY2023 program.

Paterson Farm-in Project with IGO

The Paterson Farm-in Project, 100% owned by Antipa and partnered with IGO, completed around 6,600m of the planned 9,000m FY2024 drill program. This program, fully funded and operated by IGO, includes diamond core, RC, and air core drilling. Drilling is scheduled to recommence in Q2 CY2024.

Looking Ahead: FY2024 Exploration Plans

The first tranche of the surface geochemical sampling program has already identified the promising Parklands target. Further sampling is required to potentially expand the Parklands footprint. The exploration team will also engage in drill testing to assess the anomaly's full potential.

Strategic Positioning and Future Potential

Parklands is advantageously located under shallow cover, predominantly less than 20m, making it an accessible and attractive exploration target. The anomaly remains open to the southeast, northwest, and north, offering room for expansion and further discoveries.

Anticipated Impact on Antipa’s Operations

The discovery of the Parklands target and ongoing exploration programs demonstrate Antipa's strategic approach to uncovering significant mineral resources in Western Australia. With a steady pipeline of assay results expected in the coming months, these findings will be instrumental in shaping the CY2024 exploration programs.

Antipa's Bold Move in Gold Exploration

Antipa Minerals' identification of the Parklands gold target near the renowned Telfer mine represents a major stride in the company's exploration endeavors. This discovery, coupled with ongoing partnered projects, positions Antipa as a forward-thinking player in the gold exploration sector. The company's strategic focus on underexplored areas with high potential for world-class gold-copper deposits is set to yield promising results, potentially reshaping the landscape of gold mining in the Paterson Province.

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