Resource Growth Raises Stakes for Antipa’s Minyari Development Plans

Resource Growth and Project Scale

Antipa Minerals Limited (ASX – AZY) has released an updated Mineral Resource Estimate (MRE) for its wholly owned Minyari Project in Western Australia's Paterson Province. The new estimate marks a substantial increase, lifting the total resource to 3.3 million ounces gold equivalent (AuEq), including 2.7 million ounces of gold, alongside significant quantities of copper, silver, and cobalt. This update reflects an addition of 163,000 ounces of gold and 6,600 tonnes of copper, underscoring the project's growing scale and quality.

The Minyari Project's resource now comprises 58 million tonnes at an average grade of 1.45 grams per tonne gold, 0.17% copper, 0.42 grams per tonne silver, and 0.03% cobalt. Notably, 70% of this resource is classified as Indicated, providing a higher level of confidence for development planning. The resource includes multiple deposits such as Minyari Dome, GEO-01 Area, Fiama, Minella, and Rizzo, with several deposits remaining open for expansion along strike and at depth.

Drilling Success and Maiden Resources

The resource growth is attributed to the success of Antipa's two-phase 2025 drilling program, which not only expanded existing deposits but also converted new discovery zones into maiden resources. The GEO-01 area, in particular, saw an 80% increase in contained gold ounces, with maiden resources added at GEO-01 South and Rizzo. These discoveries highlight the project's exploration upside and the potential for further resource expansion in 2026.

Satellite deposits such as Tim’s Dome and Chicken Ranch, recently consolidated back under Antipa’s ownership, are also being evaluated as potential supplementary sources of production, given their proximity to Greatland Resources’ Telfer processing facility.

Development Outlook and Metallurgical Confidence

Building on the positive outcomes of the October 2024 Scoping Study, which indicated a robust standalone development opportunity, Antipa is advancing the Minyari Project through pre-feasibility and technical de-risking activities. The upcoming pre-feasibility study update, expected in February 2026, will integrate the expanded resource base and provide further clarity on the project's economic potential.

Metallurgical test-work to date has demonstrated excellent recoveries for gold, copper, and cobalt, supporting the feasibility of conventional processing methods. The project envisions a scalable open pit and underground mining operation, with mineralisation starting near surface and extending to significant depths.

Strategic Positioning in a Tier-One Province

Situated in the prolific Paterson Province, the Minyari Project benefits from its location near established operations such as Greatland Resources’ Telfer mine and Rio Tinto-Sumitomo’s Winu deposit. This regional context enhances the strategic value of Antipa’s holdings and provides infrastructure advantages for future development.

Antipa’s Managing Director, Roger Mason, emphasised the company’s strong position – "With a robust technical foundation, a well-funded balance sheet, and a clear advancement plan, Antipa is well placed to continue unlocking value through exploration and project development." The company’s aspirational target includes extending the production horizon by three years through ongoing resource growth and maiden resource drilling programs.