Antipa’s $70M War Chest Fuels New Gold-Copper Discoveries Amid Resource Expansion

Minyari Project Consolidation and Resource Growth

Antipa Minerals Ltd (ASX, AZY) has taken a significant step forward in its quest to develop one of Western Australia's most promising gold-copper projects. During the March-April 2025 period, the company successfully reconsolidated its Minyari Dome, Wilki, and Paterson tenements into a single, belt-scale Minyari Project spanning 4,100 square kilometres. This strategic move grants Antipa full ownership and control over a highly prospective region adjacent to major operations such as Greatland Resources’ Telfer mine and Havieron development.

In May 2025, Antipa released an updated Mineral Resource Estimate (MRE) that increased its total resource base to 3.0 million ounces gold equivalent (AuEq) at an average grade of 1.94 grams per tonne. This includes 2.5 million ounces of gold, 84,000 tonnes of copper, 666,000 ounces of silver, and 13,000 tonnes of cobalt, reinforcing the project's scale and potential.

Drilling Program and New Discoveries

The company has embarked on an ambitious Phase 1 drilling program for calendar year 2025, targeting 389 holes totaling 35,000 metres. This dual-purpose campaign aims to both expand the existing resource at Minyari Dome and explore high-potential greenfield targets across the broader project area. Initial assay results from 66 holes have already confirmed a significant new gold-copper discovery south of the Fiama and Rizzo deposits, alongside meaningful extensions to known mineralisation at the GEO-01 Main Zone deposit.

These early results underscore the effectiveness of Antipa’s exploration strategy and hint at the potential for further resource growth. The drilling program is expected to conclude in late July 2025, with assay results to be released progressively.

Financial Strength and Development Outlook

Antipa closed the quarter with a robust cash balance of approximately A$36.5 million and no debt. Shortly after quarter-end, the company completed a strongly supported institutional placement raising an additional A$40 million before costs. This capital injection brings Antipa’s cash reserves to an estimated A$70.6 million, providing ample funding to accelerate exploration and advance the Minyari Dome Development.

Ongoing workstreams include metallurgical test work, environmental studies, permitting, and mine planning, all feeding into a Pre-feasibility Study (PFS) targeted for completion by June 2026. The PFS aims to validate the technical and financial viability of a standalone gold-copper mining and processing operation at Minyari Dome, with potential synergies from proximity to existing regional infrastructure.

Strategic Control of Paterson Province

Following the withdrawal of IGO Limited from the Paterson Project farm-in agreement, Antipa now holds 100% ownership of this highly prospective area. This consolidation enhances Antipa’s ability to manage exploration and development activities across a contiguous landholding, unlocking new opportunities for discovery and resource expansion in a region renowned for world-class deposits.

With multiple advanced prospects and greenfield targets primed for drilling, Antipa is well positioned to leverage its strengthened position and financial resources to deliver significant value creation for shareholders.