Drilling at Tim's Dome intersects broad gold-copper mineralisation above a large untested conductor, with MD Roger Mason calling it a potential Telfer-style reef system.
Antipa Minerals (ASX:AZY) identified a potential Telfer-style reef system at its Minyari gold-copper project in Western Australia. Phase one drilling returned broad mineralisation above a large untested conductor, the company said.
The results come from 70 drill holes totaling 7,781 metres across four targets: Tim’s Dome, GEO-01, Minyari Dome and AL01. At Tim’s Dome, reverse circulation drilling intersected gold-copper mineralisation with lead and silver over about 500 metres of strike. The mineralisation sits directly above a large airborne electromagnetic conductor that extends 1.2 kilometres, is 200 to 470 metres wide, and lies 50 to 100 metres below the current drilling depth.
Managing Director Roger Mason said the geological setting and metal association support the interpretation that the drilling may be defining the upper expression of a larger Telfer-style reef system.
“Mineralisation has now been identified over approximately 500m of strike, directly above a large AEM conductor that the RC rig could not reach in this round of testing,” Mason said. “The geological setting, metal association and scale of the underlying conductor support our interpretation that the drilling may be defining the upper expression of a larger Telfer-style reef system.”
Mason said the company is keen to test the conductor with diamond tail drilling scheduled to start by mid-August. Three rigs remain active at WACA, Tim’s Dome and Chicken Ranch.
At AL01, a new discovery, air core drilling returned 26 metres at 0.08 grams per tonne gold and 183 parts per million copper from 12 metres, and 39 metres at 0.05 g/t gold and 185 ppm copper from 4 metres in a separate hole. Mason said the results warrant follow-up RC drilling, with program design pending further air core results.
The Minyari project sits in a region known for gold and copper deposits. The company also extended mineralised lodes at GEO-01 South and returned a strong geotechnical drilling intersection at WACA.
AZY shares were steady at 2.2 cents before the open, giving a market capitalisation of $361.3 million.
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