AZY 7.69% 1.2¢ antipa minerals limited

"It's not on the Rio ground. It's 100% Antipa. This is a very...

  1. 2,348 Posts.
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    "It's not on the Rio ground. It's 100% Antipa.

    This is a very interesting release. They have done an electro-geophysical survey over the eastern side of their Tim's Dome prospect, which is just 12km along strike from and covering the same sequence of rocks and geological structures as Newcrest's world-class Telfer gold mine (one of the largest gold mines in Australia).

    The survey is what is known as a Gradient Array Induced Polarisation survey. In theory, it has the ability to map the sulphide content of the underlying rocks (and quartz/sulphide mineralisation is what hosts the gold at Telfer). At least it will do so provided the rest of the rest of the rocks have a pretty bland GAIP response, being low in sulphide, salt or graphite (all of which can be very common in these sorts of sedimentary rocks, and which also show up as big anomalies on a GAIP survey)

    The results have shown:

    a) some interesting GAIP anomalies in the south, where Antipa have already drilled significant but sub-economic gold mineralisation.
    This implies that 1. the survey is clearly distinguishing the known mineralisation from the background response of the host rocks, and 2. when I look at it closely, within those areas it has picked up some stronger anomalies between and beyond previous drill holes, which may well be additional / better quality gold mineralisation that has been missed by the drilling in that southern area (on the 'West Limb')

    b) The survey has also identified a sodding great GAIP anomaly to the north of there (the 1km long anomaly on the 'East Limb' of the Tim's Dome fold) which is potentially an area of much more significant mineralisation, which has never been drilled before, and is completely hidden by a few metres of sand cover.

    This could either be a big false anomaly (caused by graphite shales perhaps), or possibly a very significant new area of sulphide/quartz/gold mineralisation. Potentially a repetition of the Telfer orebody.

    What are the chances?

    Who knows!

    But anyway, it's a tasty looking target. I'd be very excited if I was the Antipa Exploration Manager. And they are drilling it right now, so if they find something (IF!), we should know about it fairly soon.

    And if not, the stock will drift back to 0.01c..

    Wait and see."
 
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