Antipa Minerals has confirmed gold-copper mineralisation at Calibre prospect following the drilling of the third diamond hole at the Citadel project in Western Australia, which returned about 380 metres of unbroken mineralisation.
The Calibre mineralisation, after three diamond drill holes, is now confirmed across 160 metres of strike, down to a vertical depth below surface of over 420 metres and across a horizontal width of 280 metres, and open in all directions.
The second drill hole returned intersections including 75.70 metres at 0.73 grams per tonne gold, 0.42% copper, 1.35 g/t silver and 0.04% tungsten for a gold equivalent grade of 1.59 g/t or a copper equivalent grade of 1.05%.
The third diamond drillhole, which is the first to be completed as part of Phase 1, 2013 Calibre exploration programme, targeted the region beneath the second drillhole of stronger magnetic response which also hosts several downhole electromagnetic (DHEM) conductivity anomalies identified from the DHEM survey.
The three completed drillholes are located at the central but upper extremities of the very large Calibre magnetic anomaly, identified as approximately 800 metres long by 600 metres wide by 350 metres thick, using aeromagnetics.
Interpretation of the available geological and geophysical information and the limited drilling to date suggests that the amount of sulphide mineralisation may increase as drilling moves across the stronger magnetic and DHEM conductivity anomalies identified to date.
Over a geologically comparable 226 metre interval, grades for gold, copper, silver and tungsten increased by factors of 2.4, 3.0, 2.8 and 1.5 respectively from drillholes 12AMD0029 to 12AMD0032.
The continuity of mineralisation over extremely significant thicknesses also confirms the sheer size of the mineralised system. The three drillholes completed to date returned semi-continuous copper-gold-silver±tungsten mineralisation over 280 to 380 metre downhole.
The fourth drillhole in progress, at 111metres, which has intersected significant primary copper and gold (based on bismuth) mineralisation also supports the large scale of mineralisation at Calibre.
The Company’s Phase 1 exploration programme is continuing, with diamond drilling ongoing involving the utilisation of one drill rig to drill up to 2,000m of diamond drilling, which is expected to continue for approximately four to five weeks in total.
Additional geophysical surveys, including a high resolution, deep penetrating fixed-loop surface electromagnetic (FLEM) survey, at Calibre are planned be carried out over the next several weeks.
Antipa's Citadel project covers 1,714 square kilometres of prospective tenements and is located about 100 kilometres north of Newcrest Mining's Telfer gold-copper mine.
The project also includes the gold and copper Magnum deposit, where a maiden resource of 415,000 ounce gold, 641,000 ounce silver and 77,000 tonnes of copper was defined last year.
It has also made priority application for an additional 1,330 square kilometres of exploration licences called the North Telfer project, the granting of which would bring its tenements just 20 kilometres of Newcrest's Telfer project.
The company had a cash balance of $2.28 million at the end of last quarter.
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