Antipa Minerals welcomes A$1 million investment of European-based commodity fund
The company is well funded to pursue its aggressive exploration programs in the Paterson Province, with several drill programs underway. The placement will further expose the company to the European investment community.
Antipa Minerals Ltd (ASX:AZY) has welcomed a firm commitment from Netherlands-based Commodity Discovery Fund (CDF) to raise A$1 million through the issue of 23,809,524 new shares at A$0.042 per share.
The company is confident that the commitment validates the high prospectivity of its combined tenement portfolio of about 5,200 square kilometres across the Paterson Province in Western Australia.
It also believes that the placement will further expose the company to the European investment community.
Antipa Minerals and partner Rio Tinto increase Calibre gold resource 62% to 2.1 million ounces
As well as the gold, Calibre s inferred estimate update includes 103,700 tonnes of copper and 1.3 million ounces of silver. Further extensional drilling is planned, supported by a JV 2021 exploration budget of $24.5 million.
Antipa Minerals Ltd (ASX:AZY) and partner Rio Tinto Exploration Pty Limited (ASX:RIO) have increased the resource estimate of the Calibre deposit in Western Australia s Paterson Province by 62% to 2.1 million ounces of gold.
The updated inferred estimate incorporates the results of drilling completed in 2020 and totals 92 million tonnes at 0.92 g/t gold‐equivalent (0.72 g/t gold, 0.11% copper and 0.46 g/t silver) containing 2.7 million gold‐equivalent ounces (2.1 million ounces of gold, 103,700 tonnes of copper and 1.3 million ounces of silver).
Antipa Minerals Ltd (ASX:AZY) is on the path towards developing its assets in the Paterson Province of Western Australia and has a two-pronged approach - with its joint venture partners and independently on its 100%-owned ground.
The Citadel Joint Venture Project with Rio Tinto Limited (ASX:RIO) (LON:RIO) (OTCMKTS:RTNTF) consists of around 1,300 square kilometres and includes the Calibre resource of 1.3 million ounces of gold and 70,000 tonnes of copper, as well as the Magnum resource with 339,000 ounces of gold and 58,000 tonnes of copper, plus a total combined total of 1.2 million ounces of silver.
Antipa also holds the 100%-owned Minyari-WACA deposits, which hosts a resource of around 750,000 ounces of gold at 2 g/t with 26,000 tonnes of copper.
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