Antipa Minerals Ltd (ASX:AZY) is moving ahead with extensive induced polarisation (IP) electrical geophysical survey at the Citadel Project in Western Australia, which is fully funded by Rio Tinto Exploration Pty Ltd.
The Citadel Project, covering 1,335 square kilometres is located 75 kilometres north of Newcrest Mining Ltd’s (ASX:NCM) Telfer gold-copper-silver mine.
Under the terms of the farm-in and joint venture agreement with Rio Tinto, Rio Tinto can fund up to $60 million of exploration expenditure to earn up to a 75% interest in Antipa’s Citadel Project.
The 2016 exploration program at Citadel has been divided into two phases.
During the first phase Antipa will conduct IP ground geophysical surveys at 16 high-priority targets within an extensive 400 square kilometre region of the Citadel Project, including Calibre, Magnum, Corker, Meekus and the broader Rimfire area.
Second phase of the exploration program will be driven by the results of phase 1 and is expected to include reverse circulation drill testing of IP chargeability anomalies generated during phase 1 and possible follow-up geophysical surveys.
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