ANTIPA Minerals (ASX: AZY) has entered into a $60m farm-in agreement and exploration joint venture agreement with gold miner Newcrest.
The agreement covers the southern part of Antipa Minerals’ 100pc-owned exploration ground in the Paterson province of WA, now known as the Wilki project.
The Wilki project abuts Newcrest’s Telfer mine for gold and copper and its O’Callaghans deposit.
Under the deal Newcrest has the option to acquire a 75pc interest in the joint venture for Wilki.
Also, Newcrest has entered into an agreement with Antipa Minerals to acquire a 9.9pc shareholding in the Australian company through a $3.9m share placement.
Antipa Minerals chairman Stephen Power said the agreements with Newcrest will ensure a robust exploration programme for Wilki over the coming years.
“We are delighted to welcome Newcrest as a shareholder of Antipa and to be partnering with them to progress the exploration of our Wilki project in the world-class Paterson province of WA,” he said.
