Company
ASX:AZY
Antipa Minerals Ltd is a leading mineral exploration company with a proven track record of discovering world-class gold-copper deposits in the highly prospective Paterson Province of Western Australia. The company remains focused on advancing its exploration and development programmes to unlock the full potential of this richly endowed region, which offers substantial opportunities for profitable mining operations.
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The company plans to use the proceeds from the capital raising to maintain its 35% interest in the Citadel Joint Venture with Rio Tinto and to accelerate exploration and appraisal activities at Minyari Dome Project.
The company has received firm commitments to raise $22 million through an institutional placement supported by major shareholders Newcrest Mining Ltd (ASX:NCM) and IGO Ltd (ASX:IGO).
Each of the trading halts will be in place until Wednesday, April 21, or until an announcement is released to the market.
An additional 6,000-7,000 metres of drilling is planned for 19,000 metres in total, targeting mineralisation and resource extensions at the Calibre and Magnum gold-copper deposits.
The results confirm that significant zones of very high-grade gold with copper, silver and cobalt mineralisation exist outside the Minyari deposit mineral resource estimate boundary.
Analysis of a SkyTEM aerial electromagnetic (AEM) survey and Pacman ground gravity survey conducted last year identified new targets which will now be included in the exploration program for the remainder of 2021.
The FY21 IGO farm-in exploration program has a greenfield discovery emphasis, with on a focus on Winu, Havieron, Telfer and Nifty analogue targets.
New shares issued under the placement will rank equally with existing shares on issue and are expected to be allotted on April 15, 2019.
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The event will attract “the who’s who of the junior and mid-cap market CEOs” and will have a “bustling exhibition area”.
The mining scene in Western Australia is buzzing with talk about Havieron
The survey aims to identify conductors associated with gold and copper mineralisation.
The prospect, part of the Paterson Project, is 15 kilometres northeast of Newcrest’s Telfer Gold Mine.
A reverse circulation drilling program has begun to test the targets.
The additional cobalt processing will help Antipa extract further value from the project.
The company's shares are trading about 7% higher intra-day, at 1.5 cents.
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A summary of stories on the Proactive newswire today
The index of blue-chip shares closed down 24.92 at 7,447
The halt will remain in place until Monday 10th April 2017.
Antipa has been granted a trading halt by the ASX.
Antipa Minerals Ltd (ASX:AZY) has been granted a trading halt by the ASX.
