Key Highlights

•  Assays from previously unsampled sections of 2025 core returned 22m at 8.21g/t gold and 0.35% cobalt from 100m.

•  The interval includes 5.10m at 27.40g/t gold and 1.04% cobalt, with a peak one-metre assay of 82.2g/t gold.

•  Current drilling is funded from existing cash and Exploration Incentive Scheme grants, and no timetable for a resource update was given.

Antipa Minerals (ASX:AZY) has reported a fifth batch of phase one drilling results from its Minyari Gold-Copper Project in Western Australia's Paterson Province, with the headline figure coming not from a new hole but from fresh sampling of older core. Assays from previously unsampled sections of a 2025 drill core at the Minyari deposit returned 22m at 8.21g/t gold and 0.35% cobalt from 100m.

That interval includes a higher-grade zone of 5.10m at 27.40g/t gold and 1.04% cobalt, with a peak one-metre assay of 82.2g/t gold. The announcement does not state whether the intervals are downhole lengths or true widths, so true widths should be treated as not yet known.

Results across several prospects

The batch covered 22 reverse circulation (RC) holes totalling 4,588m at Tim's Dome and Minyari Dome, three diamond holes at Minyari Dome and 79 aircore holes at Chicken Ranch.

At the GEO-01 Main zone, diamond drilling extended mineralisation roughly 230m down dip, with one intersection of 26.60m at 1.36g/t gold from 640.4m. At WACA, mineralisation was extended about 80m down plunge, including 44m at 0.5g/t gold from 386m, within which 21m graded 0.8g/t gold from 386m.

RC drilling at Tim's Dome intersected gold-copper-lead-silver mineralisation over approximately 600m of strike, including 9m at 1.48g/t gold from 178m. At Rizzo, the company flagged gold-copper mineralisation of 12m at 1.34g/t gold and 0.27% copper from 70m, which remains open.

Aircore drilling at Chicken Ranch returned 14m at 2.10g/t gold from 40m, including 2m at 12.97g/t gold. These results sit outside the current mineral resource estimate, so they represent exploration information rather than defined resources.

Company and project background

Antipa holds 100% of the Minyari project, which covers about 3,840 square kilometres in a region that also hosts the Telfer gold-copper operation. The Minyari Dome area currently carries a mineral resource of 2.5 million ounces of gold, of which 2.2 million ounces is classified as indicated.

A Prefeasibility Study (PFS) for Minyari Dome is in progress. The current drilling is funded from existing cash and Exploration Incentive Scheme grants from the Western Australian government.

Managing Director Roger Mason said the results point to opportunities to grow Minyari "both around our existing deposits" and through new gold and copper discoveries. He added that the aim remains to systematically build understanding of the mineralised systems.

Why it matters

The re-sampling result shows that historical core can still add information to a known deposit, and the step-out intercepts at GEO-01 Main and WACA suggest mineralisation continues beyond previously tested positions. For a project already in the PFS stage, extensions near existing deposits could, if confirmed, influence future resource updates and mine planning.

However, several of the new intercepts are low to moderate grade, including the 0.5g/t gold interval at WACA, and the economic significance of the cobalt credits has not been established in the announcement. None of the new results has yet been converted into resources, and conversion depends on further drilling, modelling and independent estimation.

Programme status and next steps

Two drill rigs remain active. The company has completed 330 phase one holes totalling 42,248m. Two diamond holes at Tim's Dome are finished and a third is nearing completion, testing a 1.2km airborne electromagnetic conductor beneath the mineralised zones. Drilling has also just started at the AL01 target.

Further assays are expected, and the PFS continues alongside exploration. Antipa said it intends to convert drilling success into additional resources where results support it, though no timetable for a resource update was given. The remaining assays and AL01 drilling should show whether the pattern seen in this batch continues across the project.