The North Telfer project is located in the Paterson Province of Western Australia approximately 20 kilometres north of the large-scale Telfer mine. The Minyari and WACA gold-copper-silver-cobalt deposits at North Telfer are hosted within a geological structure referred to as the Minyari Dome. Both deposits are potentially amenable to open pit and underground mining methods, bearing a number of similarities to the mineralization at the Telfer deposit.
Strong gold results from exploration drilling programs completed in 2016 and 2017 enabled Antipa to establish its maiden Minyari and WACA deposit JORC Mineral Resource Estimates and to commence evaluation of the economic potential of the Minyari Dome area.
An updated Scoping Study for Minyari Dome was released in October 2024 which outlined an initial combined open pit and underground mine schedule of 30.2 Mt a 1.5 g/t gold for 1.5 Moz gold and envisions total initial gold output of 1.3 Moz with an average rate of 130 koz per annum for the first 10 years. The study indicated post-tax NPV of A$598 million and 46% IRR (at US$2,100/oz gold based on an exchange rate of A$0.70 per US$1.00), with a post-tax payback of approximately 2.0 years from first production.
The Minyari Dome Mineral Resource Estimate was updated in September 2024. The Indicated Resources include 1.65 Moz of gold, 64,000 tonnes of copper, 534,000 oz of silver, and 10,000 tonnes of cobalt, contained within 32.2 Mt with an average grade of 1.60 g/t gold, 0.20% copper, 0.52 g/t silver, and 0.03% cobalt, based on cut off grades of 0.4 g/t gold equivalent for open pit and 1.5 g/t gold equivalent for underground (“AuEq”). For AuEq calculations refer to Antipa’s website at www.antipaminerals.com.au.
