PERTH (miningweekly.com) – A scoping study into the Minyari Dome gold project, in Western Australia, has estimated that it could produce 975 000 oz of gold over an initial seven-year mine life.

ASX-listed Antipa Minerals on Wednesday reported that the scoping study was based on a three-million-tonne-a-year throughput, and based on an initial openpit and underground mine schedule of 21.4-million tonnes at 1.6 g/t gold.

The project is expected to produce an average of 170 000 oz/y of gold over the first five years of operations.

The scoping study estimated that the project would require a capital investment of A$275-million, and would have an all-in sustaining cost of A$1 475/oz. The study also estimated a post-tax net present value of A$278-million and an internal rate of return of 29%.

“The scoping study has demonstrated a technically robust and commercially attractive standalone gold mining and processing development at our flagship 100%‐owned Minyari Dome project. Critically, this is just the beginning for Minyari Dome. Project economics are hugely leveraged to future resource growth, from both extensional and greenfield drilling opportunities,” said Antipa MD Roger Mason.

He noted that an aggressive growth drilling programme was started in June at Minyari Dome, focused on testing of openpit targets with the objective of extending high‐grade mine‐life, and that an updated mineral resource estimate (MRE) was targeted for around the middle of calendar year 2023.

“Alongside this drilling and resource work, and as a direct function of the scoping study outcomes, the Antipa board has approved the commencement of a prefeasibility study (PFS) on Minyari Dome. The PFS is planned to incorporate the next MRE update into the mine scheduling, as well as progress a range of other upside opportunities identified as part of the scoping study, including the obvious by‐product metal potential that exists.”

The PFS is scheduled for completion during the fourth quarter of 2023.

“Over the last 18 months, Antipa has started to truly unlock the potential of Minyari Dome. We have delivered a 250% increase to the MRE for the project, accompanied by a pipeline of further high‐prospectivity gold/copper greenfield targets. Given the latent further value capable of being added via the drill bit, we remain committed to continuing a substantial exploration programme across our 144 km² of tenure at Minyari Dome,” said Mason.