Newmont has exercised its top-up right to maintain an 8.6 per cent shareholding in minerals exploration company Antipa Minerals.

The top-up placement is set to deliver approximately $0.54 million in additional new equity funds, bumping the total new funding secured to $7.25 million.

“We thank Newmont for their support in our recent placement,” Antipa managing director Roger Mason said. “Their participation represents a strong endorsement of our Paterson Province portfolio and exploration strategy, including our rapidly emerging 100 per cent-owned Minyari Dome gold projct.

“With continued support from the world’s largest gold mining company, we are excited for Phase 2 drilling to begin and look forward to exploring the potential at GEO-01 and more broadly within Minyari Dome.”

The Minyari Dome project is located in Western Australia and has an initial combined open pit and underground mining inventory of 21.4 million tonnes at 1.6 g/t gold for 1.1 million ounces.

Mineralisation at Minyari starts at 0–10m from the surface and extends for more than 670 vertical metres. The mineralised corridor extends over 500m in length and up to 300m in width and remains open in several directions providing material resource extension upside.

Proceeds from the placement and top-up placement will be used to advance Minyari Dome, including its resource growth and discovery-focused exploration.