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Antipa raising A$7.5M to explore Western Australian gold projects

Antipa Minerals Ltd. is raising up to A$7.5 million at 1.2 Australian cents per share to advance exploration at its wholly owned gold projects in Western Australia's Paterson region.

The exploration program will look to increase the 723,000-ounce gold resource at its Minyari and WACA deposits, which are part of the North Telfer project, and to test the potential at Tim's Dome, part of the Paterson project.

The company said May 21 that it has already received commitments for a two-tranche placement of up to about 270 million shares to raise up to A$3.3 million and intends to raise up to a further A$4.3 million via a 1-for-4 entitlements offer.

Antipa will also test a number of prospects regionally on its tenements, including the high-grade Chicken Ranch prospect.