Australian precious and base metal exploration company Antipa Minerals Limited announced the results from its 2012 Phase 1 Magnum prospect diamond drilling program in the Proterozoic Paterson Province details of which are set out.
The style of mineralization intersected is similar to that previously encountered although, importantly several drillholes have intersected significant gold-copper mineralization beyond the limits of the Magnum surface electromagnetic conductivity anomaly.
Mr Roger Mason MD of Antipa Minerals said that the results from 2012’s Phase 1 Magnum drilling program have demonstrated the very large scale of the Magnum gold, copper and silver mineralization further expanding the exploration upside.
Next Steps;
The Company is continuing its technical review of the results from the 2012 Magnum and Corker Phase 1 exploration program and is finalizing the design of the second phase of its 2012 program.
Magnum Prospect;
The Magnum prospect hosts the Company’s maiden (Inferred) Mineral Resource of 27.8 MT at 0.5 gram per tonne gold, 0.3% copper and 0.7 gram per tonne silver for a total contained metal of 415,000 oz gold, 77,000 tonnes copper and 641,000 oz silver.
The Mineral Resource has been defined by broad spaced drilling from the Central Zone which is approximately 500 meters in length and remains open in all directions. The Magnum anomaly including the Central Zone, covers an area 2 kilometers north south and 600 meters east west.
The 2012 drilling program involved the completion of six diamond drillholes and a diamond tail of 2011 RC drillhole and achieved the following objectives:
1. Identified gold, copper and silver sulphide mineralization 400 meters to the north and 600m to the south of the existing Mineral Resource greatly enhancing both the understanding of the structures and the broader potential of the deposit.
2. Limited extensional drill testing of the 10 meters to 50 meters wide zone located along the western side of Magnum which hosts higher grade copper mineralization.
Whilst delivering encouraging results the Phase 1 Magnum drilling to date has provided only a limited test of the 300 to 400 meter wide and +550 meter deep corridor of gold, copper and silver mineralization.
Within the Magnum Mineral Resource, mineralization improves with depth commencing in the vicinity of the central portions of the Magnum Gabbro and also approximately 80 meters above and below the lower contact between the gabbro and footwall meta sediments. The resource also hosts higher grade gold and copper shoots.
Possible northwest trending cross-faults and movement along the sheared and faulted margins of the Gabbro have resulted in some re positioning of mineralization and warrant further investigation. DHEM will be completed for the 2012 Magnum drillholes as part of Phase 2 of the 2012 Citadel Project exploration program.
Mr Mason said that “The structural review of the Magnum prospect is ongoing and Magnum remains an exciting exploration opportunity for Antipa. Magnum is open in all directions with copper sulphide and gold mineralization persistent across more than 1.8 kilometers of strike 600 meters east west and open at depth below 550 meters.”
Source - Antipa Minerals
(www.steelguru.com)
