Citadel project

The Citadel Project is located approximately, 1,300 kilometres north east of Perth, 400 kilometres east of Port Hedland and 75 kilometres north of Newcrest Mining's Telfer gold mine, in the Paterson province, of the Great Sandy Desert in Western Australia.

The Citadel Project Contains the Calibre, Magnum and Corker Deposits

The Citadel Project is made up of two major mineral deposits; the Calibre tungsten, silver, copper and gold deposit and the Magnum silver, copper and gold deposit. These two deposits have a combined JORC (2012) Mineral Resource of 1.4 million ounces of silver, 139,000 tonnes of copper and 1.2 million ounces of gold. The mineralisation of both deposits remain open in all directions. The project also contains the high quality polymetallic Corker deposit.

Antipa Minerals Acquire Citadel Project From Kitchener Resources

The Citadel Project, that consists of seven granted exploration licences covering an area of 1,527 square kilometres of highly prospective, mainly unexplored land, was acquired by Antipa Minerals Limited, in 2013, from Kitchener Resources Pty Ltd. The tenements extend to within seven kilometres of the O'Callaghans mining operation and five kilometres of the Telfer mine.

Antipa Minerals Limited, which was incorporated in 2010, is a small Australian mineral exploration public company with its headquarters in Perth. It was established with the objective of seeking out under-explored mineral projects that have the potential to contain world class mineralisation.

Rio Tinto Sees Value in Investing in Citadel Project

In October 2015, Antipa Minerals Limited, caused a stir in the mining industry, when giant international mining company, Rio Tinto, announced it planned to invest in the Citadel Project by entering into a farm-in agreement with Antipa Minerals and work in partnership with the small miner in a Joint Venture capacity. The farm in agreement allowed for Rio Tinto to progressively increase its interests in the Citadel Joint Venture until it obtained a 75 percent interest in the project. Antipa Resources was to remain the operator of the farm-in agreement with Rio Tinto for the first 18 months.

As part of the farm-in agreement Rio Tinto agreed to complete the follow up phase 2, RC drilling program at the Calibre deposit during 2015. This meant the completion of around 30 RC drill holes totaling 5,000 metres that was to be divided into three stages. The three stage drilling program is being undertaken with the intention of extending the limits of the North Calibre copper and gold mineralisation, to a total strike length of between 1.6 kilometres and 3.9 kilometres. When Rio Tinto's investment in the Citadel Project reached a certain amount it was agreed it would then receive 51 percent interest in the project and become a Joint Venture partner. Further investment would allow Rio Tinto to reach a maximum holding of up to 75 percent.

The Calibre deposit at the Citadel project was given a JORC Code in 2012 of an Inferred Mineral Resource totaling 47.8 million tonnes grading at 14,200 tonnes of tungsten, 918,000 ounces of silver, 80,800 tonnes of copper and 867,000 ounces of gold.

The Magnum deposit JORC Code of the same year gave an Inferred Mineral Resource of 16.1 million tonnes returning 511,000 ounces of silver, 57,800 tonnes of copper and 339,000 ounces of gold.