Antipa Minerals Elevates Minyari Resource to 3.6Moz Gold Equivalent with Strong Indicated Base
Antipa Minerals has significantly expanded and upgraded its Minyari Project resource in Western Australia, now boasting 3.6 million ounces gold equivalent with a robust 85% Indicated classification at its core Minyari Dome deposits.
- Total Mineral Resource Estimate grows to 2.9Moz gold and 3.6Moz gold equivalent
- Minyari Dome deposits contain 2.5Moz gold with 85% classified as Indicated
- Inclusion of significant copper, silver, and cobalt credits
- Ongoing Pre-Feasibility Study underpinned by improved resource confidence
- Multiple exploration targets remain open for further resource expansion
Resource Growth and Quality Upgrade
Antipa Minerals Ltd (ASX:AZY) has announced a substantial update to the Mineral Resource Estimate (MRE) for its wholly owned Minyari Gold-Copper-Silver Project, located in the prolific Paterson Province of Western Australia. The total resource now stands at 2.9 million ounces of gold, or 3.6 million ounces gold equivalent (AuEq), incorporating 91,000 tonnes of copper, 880,000 ounces of silver, and 13,000 tonnes of cobalt. Crucially, 76% of the gold ounces are classified as Indicated, reflecting a marked improvement in resource confidence.
The Minyari Dome group of deposits, which form the foundation of the ongoing Pre-Feasibility Study (PFS), accounts for 2.5 million ounces of gold (3.2 million ounces AuEq), with an impressive 85% of contained gold now in the Indicated category. This upgrade not only increases the scale but also the quality of the resource base, providing a stronger platform for mine planning and development.
Strategic Location and Project Potential
Situated within 35 kilometres of major regional mining operations including Greatland Resources’ Telfer mine and processing facility, as well as Rio Tinto-Sumitomo’s Winu and Greatland’s Havieron projects, Minyari is strategically positioned in one of Australia’s most prospective mineral provinces. The project’s proximity to existing infrastructure enhances its development potential and attractiveness to investors.
Antipa’s Managing Director, Roger Mason, highlighted the significance of the update, noting that the increased Indicated resource proportion strengthens the foundation for advancing the project towards a development decision. He also emphasised the clear scope for further growth, with multiple deposits and emerging zones remaining open for exploration and maiden resource definition.
Exploration Upside and Metallurgical Confidence
The updated MRE incorporates maiden resources at the Reaper-Poblano-Serrano (RPS) satellite deposits, which add 230,000 ounces of gold and substantial copper and silver credits. Exploration targets across the project remain open in multiple directions, with recent drilling confirming extensions and new high-grade zones at several deposits.
Metallurgical test work conducted to date demonstrates excellent recoveries for gold across oxide, transitional, and primary mineralisation types, with viable copper and cobalt concentrates also achieved. This metallurgical amenability supports the envisaged conventional processing route and adds economic value through by-product credits.
Economic Outlook and Next Steps
According to the October 2024 Scoping Study, the Minyari Project forecasts an average post-tax free cash flow of A$257 million to A$301 million per annum over the first ten years, depending on gold price assumptions. The recent resource upgrade and improved confidence underpin the ongoing PFS, which aims to refine the project’s economic parameters and support a development decision.
Looking ahead, Antipa plans to continue aggressive exploration throughout 2026, targeting resource growth through delineation of maiden resources and new discoveries. The company’s extensive landholding and multiple high-potential targets position it well to unlock further value in this emerging mining province.
Bottom Line?
With a stronger and larger resource base, Antipa Minerals is poised to accelerate Minyari’s path from exploration to development, but investors will watch closely for upcoming PFS results and exploration breakthroughs.
Questions in the middle?
- What timeline is Antipa targeting for a final investment decision on the Minyari Project?
- How will ongoing metallurgical test work influence the project’s processing strategy and economics?
- Which exploration targets have the highest potential to add significant new resources in the near term?
