Specialist mining investment company Lion Selection Group is investing $2m (A$3m) in Antipa Minerals, contributing to a larger $6.75m fundraising effort.
Post-fundraising, Lion will have a stake of around 4% in Antipa.
The funds are earmarked for advancing Antipa's drilling programme at the Minyari Dome Gold-Copper Project in Western Australia's (WA) Paterson province, known for significant gold-copper discoveries.
Antipa Minerals, with its substantial gold resources and successful joint ventures, is a prominent player in the Paterson province of WA.
The region is renowned for hosting Newmont's Telfer mine and recent significant discoveries such as Rio Tinto's Winu and Newmont-Greatland Gold's Havieron.
Antipa’s exploration efforts have led to the discovery of several major deposits including the Minyari Dome Gold-Copper Project.
This project has gold resources of 1.8 million ounces (moz) at 1.6 grams per tonne, which a scoping study from August 2022 suggested has the potential for a considerable initial development with further prospects.
The capital raised will finance Antipa's drilling programme for the current year, aiming to expand the existing resources at the Minyari Dome.
Spanning 900km2, the Minyari Dome Project is part of a larger portfolio that includes three additional large-scale growth projects covering a total of 4,200km2.
These projects have drawn significant interest from major mining companies, resulting in multi-million-dollar farm-in and joint venture agreements.
Lion Selection Group chairman Robin Widdup said: “We are delighted to add Antipa to the Lion portfolio. Antipa ticks all the boxes that Lion seeks.
“The 1.8moz Minyari project is development opportunity within a 5,100km2 strategically located land package, with a quality team to advance it.
“Antipa’s regional joint ventures provide added attraction, with first-rate partners in an incredibly prospective part of Australia.”
