Newmont divests its stake in Antipa Minerals' Wilki gold project in Western Australia, paving the way for Antipa to focus on exploration and potential discoveries. The company plans extensive drilling programs targeting promising anomalies, including the undrilled 'Telfer-sized' Parklands prospect.
Newmont , the world's leading gold producer based in the United States, has recently been streamlining its non-core assets. This includes finalizing the sale of assets in North America and withdrawing from Antipa Minerals ' Wilki project in Western Australia.
Newmont's departure from the five-year-old joint venture in Western Australia's Paterson province was anticipated due to the company's recent portfolio restructuring, particularly the sale of its interests in the Havieron development and Telfer operations to Greatland Gold late last year. Newmont acquired its 51% stake in Wilki through its acquisition of Newcrest Mining. Since 2020, the joint venture partners have invested approximately $12 million out of a possible $60 million in Wilki. To exit the joint venture, Newmont has made a final payment of $590,000 to Antipa, bolstering Antipa's cash position, which stood at $36.5 million at the beginning of the year.Antipa has stated its intention to continue advancing exploration across the now 100% owned 1430sq.km tenement package, strategically located near both Havieron to the east and Telfer to the west. The initial focus is on drilling at the Parklands prospect, with operations expected to commence before mid-year. Parklands is described as an undrilled, 'Telfer-sized surface geochemical gold anomaly' spanning 3km by 1.5km, situated along the same structural corridor as the nearby Chicken Ranch, Turkey Farm, and Triangle deposits. It lies beneath only 15m of cover, 10km northeast of the 22 million tonne per annum Telfer operations. Antipa is planning up to 16,000m of Wilki drilling this year, encompassing aircore, RC, and diamond drilling. The FY25 program was initially budgeted by Newmont at approximately $1.8 million.While Parklands is the primary target, there is another emerging anomaly, Jezabeel, located just 4km northeast of the Telfer plant, beneath approximately 30m of cover. Limited historical drilling has revealed basement-hosted gold. The prospect is modeled as being situated on an anticlinal trap site along the same northeast-trending structure that intersects Telfer and Parklands. Existing resources at Wilki are modest, totaling 103,500 ounces grading 1.6 grams per tonne. However, the known deposits are within 30km of Antipa's Minyari project, a potential location for a future standalone processing hub. The Wilki package was not included in the Greatland deal, as the transfer required Antipa's consent. If Antipa successfully discovers another Telfer-scale deposit, it could significantly enhance its financial position. Antipa, which possesses resources of 2.42Moz gold, 84,000t copper, and 661,000oz silver, predominantly at Minyari Dome, now controls 2540sq.km of the Paterson at 100% ownership, plus it has an interest in 1520sq.km that is farmed out to IGO.
Mining Gold Exploration Antipa Minerals Newmont Wilki Project Paterson Province Parklands Prospect Telfer
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