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Anax Metals Limited (ASX: ANX, Anax, or the Company) is pleased to provide an update on drilling at the Evelyn deposit (Evelyn), part of the Whim Creek Project, located 115km southwest of Port Hedland.
- Diamond drilling at Evelyn deposit within the Whim Creek Project has encountered strong chalcopyrite (Cu) and sphalerite-rich (Zn) mineralisation
- Disseminated, stringer and massive sulphides intersected over a 13.5m thick zone
- Continuous XRF scanning of core to commence shortly, followed by laboratory assays
- Ongoing drilling is targeting down-plunge extensions of the high-grade shoot
Anax’s Managing Director, Geoff Laing commented: “We have redoubled our efforts to deliver leveraged growth outcomes at Whim Creek. A high-grade copper and zinc resource has already been delineated at Evelyn and highly prospective proximal exploration targets are key targets for growth. It is pleasing to again see the familiar massive mineralisation that this deposit delivers. We look forward to providing ongoing updates on the near mine exploration along with our regional consolidation strategy.”
Figure 1: Massive sulphide mineralisation in 24AED002A
Cautionary Statement:
Certain information in this announcement may contain references to visual results. The Company draws attention to the inherent uncertainty in reporting visual results. Visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analyses where concentrations or grades are the factor of principal economic interest. Visual estimates also potentially provide no information regarding impurities or deleterious physical properties relevant to valuations.
The Company recently announced1 that it was commencing a drilling programme at Evelyn of up to 1,700m. Processing of the first two holes have been completed and both have intersected zones of disseminated, stringer and massive sulphides consisting of chalcopyrite (Cu), sphalerite (Zn), galena (Pb), pyrite and pyrrhotite, up to 13.5m thick (true width estimated at approximately 80% of downhole interval).
The best visual intersection from the drilling programme to date is from Hole 24AED002A which encountered a strongly mineralised zone between 176.45 and 189.9m (Figure 1 and Figure 2).
Figure 2: 24AED002A showing mineralisation between 183.3m and 190.8m
Cautionary Statement:
Certain information in this announcement may contain references to visual results. The Company draws attention to the inherent uncertainty in reporting visual results. Visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analyses where concentrations or grades are the factor of principal economic interest. Visual estimates also potentially provide no information regarding impurities or deleterious physical properties relevant to valuations.
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This article includes content from Anax Metals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
ANX:AU
Multiple High-Grade Copper Results and Antimony at Fiery Creek Project
Highlights
- Initial Surface Sampling Program returns multiple very high-grade copper assay results at Fiery Creek Copper Project in the Mt Isa copper belt, Queensland
- Results from the Piper prospect covering over 600m of strike include; 11.83% Cu, 11.53% Cu, 9.95% Cu and 9.53% Cu
- Highly encouraging antimony results also returned including; 10,883ppm Sb, 2,305ppm Sb and 2,035ppm Sb – along with high-grade silver assays up to 31.3g/t Ag
- Historical exploration at Fiery Creek also returned very high-grade copper rock chip samples including; 36% Cu, 25.4% Cu and 15.2% Cu (ASX announcement 30 July 2024)
- Data generated from soil sampling to date indicates strong copper anomalism across the Fiery Creek Project, beyond the initial Piper and Fiery Creek targets
- The under-explored Fiery Creek Project displays geological features favourable for copper deposits and is an exploration priority for Aruma
- Next steps: detailed ground gravity surveys to better define drill targets to commence this month followed by an IP survey at the Piper prospect planned for October
The first-phase sampling program provides initial confirmation of the Project’s exploration potential. Results come from the priority Piper prospect in the north-west of the Project area, and include multiple very high-grade copper samples along with high-grade silver results (Figure 1). Highlight results include;
- 11.83% Cu, 17.7g/t Ag: AR28585
- 11.53% Cu, 18.8 g/t Ag and 0.3% Zn: AR28586
- 9.95% Cu, 31.3g/t Ag; AR28582
- 9.53% Cu: AR28580
- 4.02% Cu, 20.8g/t Ag: AR28584
- 2.10% Cu, 31.3g/t Ag: AR28581
The sampling program also returned encouraging antimony (Sb) results including; 10,883ppm Sb in AR28586, 2,305ppm Sb in AR28583 and 2,035ppm Sb in AR28585.
Aruma Resources managing director Glenn Grayson said:“The multiple high-grade copper results, along with the silver and antimony mineralisation returned at the Piper target from our initial surface sampling program provide early confirmation of the Fiery Creek Project’s exploration potential. These results, in conjunction with historic exploration results, help provide key base-line data for our next phase of field work. Ground-based geophysical surveys are planned in the coming weeks, with the aim of defining targets for a maiden drilling program. Also of significant, wider importance is that the data generated from soil sampling to date indicates strong copper anomalism across the Fiery Creek Project, beyond the initial Piper and Fiery Creek targets.”
Figure 1: Geology map of the Piper Prospect at the Fiery Creek Project (GDA20 z54) showing AAJ’s sample results plus historic drilling results.
Sample rocks from the Piper prospect (Figures 2, 3) highlight the potential for copper mineralisation with supporting antimony, sliver and arsenic (As), with an outcropping cross-cutting quartz breccia mapped for 700m. The breccia is terminated by a tertiary creek system to the east. This is an excellent example of the prospectivity of Fiery Creek, and also underlines the need for appropriate base data to help interpret other prospective structural traps for copper under cover.
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This article includes content from Aruma Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Substantial Step to Pilbara Processing Hub
- Artemis Resources Ltd (ARV) and Anax Metals Ltd (ANX) sign Memorandum of Understanding (MoU) to assess potential to treat Carlow Castle (64,000 T Cu Inferred Mineral Resource Estimate) and other suitable ARV copper assets at Whim Creek processing hub.
- The Parties also agree to jointly assess the potential for Artemis to explore for gold mineralisation on the Anax Project tenure.
- The Pilbara Alliance and Processing Hub continue to gather momentum with Carlow Castle to be assessed in addition to Develop Global’s (DVP), Sulphur Springs Oxide and GreenTech Metals (GRE), Whundo project as potential satellite ore sources.
- Fully-permitted Whim Creek processing assets could provide near-term processing option for Artemis’ open pittable Carlow Castle deposit.
Anax’s Managing Director, Geoff Laing, commented:“We are extremely pleased to be working with Artemis on potential copper/gold production via the planned Whim Creek hub and to advance gold exploration opportunities at the project. Our region is prolific with copper and gold potential, and we look forward to applying the key strengths of our respective teams to delivering positive outcomes via the production hub and an expanded gold exploration initiative at Whim Creek.”
Artemis Executive Director, George Ventouras, commented:"We are thrilled to collaborate with Anax Metals on the Pilbara copper alliance via this MoU and expand our own potential for gold exploration. The West Pilbara region of Western Australia is an exciting jurisdiction to be operating in and this initiative allows each company to focus on its strengths and to deliver results for all stakeholders.”
The proposed Whim Creek Project (80% owned by Anax and 20% owned by Develop Global Ltd) will consist of a new 400,000 tonnes per annum concentrator, and a refurbished heap leach facility capable of treating oxide, transitional and supergene ore that is supported by robust project economics. 1, 2 & 3 By fully utilising its processing capacity, the Whim Creek hub could become a substantial Australian copper producer.
Whim Creek is located 115km southwest of Port Hedland in the West Pilbara region of Western Australia, and 80km east of the Artemis Carlow Castle deposit which is located 25 km east of Karratha (Figure 1).
Figure 1: Location of the Whim Creek and Carlow Castle Projects (Refer Appendix A)
Under the agreement, each party will contribute resources and information to the joint assessment that will focus on technical studies and regulatory approvals at Carlow Castle. The joint assessment will assist the Parties in developing terms for a legally binding agreement that allows for Artemis copper assets to be processed at Whim Creek. Transaction options being considered include (without limitation) an outright asset sale/purchase agreement, joint venture or joint mining and funding agreements.
The parties also agree to jointly assess the potential for Artemis to explore for gold mineralisation on the Whim Creek Project tenure. Artemis will continue to progress gold and lithium exploration at its 100%-owned and JV Pilbara tenements.
The MoU is for a term of 12-months and either party is permitted to terminate the MoU by providing 30-days’ written notice.
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This article includes content from Anax Metals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
TNC Identifies Broad Zones of Surface Copper Mineralisation at Mt Oxide Project, QLD
HIGHLIGHTS
- Assay results received from a successful rock chip sampling program at the Aquila and Ivena North prospects, part of TNC’s 100% owned Mt Oxide Project in Queensland.
- Aquila and Ivena North are both part of the larger Dorman Fault Mineral System, a +10km long trend that hosts the Vero Cu-Ag-Co Resource and the Camp Gossans Prospect.
- At Aquila, sampling has highlighted six zones of anomalous Cu, Co & As associated with multiple gossanous breccia structures up to 30m wide.
- Aquila B Trend: +180m long and +30m wide Cu +/- Co-As-Ag within a 440m long fault breccia with visible copper oxide mineralisation. The trend includes rock chip channels returning 3.6m @ 0.49% Cu with a peak assay of 0.94% Cu.
- Aquila A Trend: +20m long and up to 12m wide Cu-As-Sb anomalous zone within +210m strike of hematite altered hydrothermal breccias, returning up to 0.05% Cu and 12.7g/t Ag and anomalous pathfinders.
- Aquila D Trend: +100m long and up to 4m wide Cu-Co trend associated with a historical prospecting pit with strong copper oxide mineralisation, and a peak assay of 0.87% Cu.
- At Ivena North, sampling has identified Cu, Co & As trends within two geochemically anomalous zones from multiple gossanous breccia structures that are up to 25m wide.
- Ivena North A Trend – +130m long and up to 15m wide Cu-Co-As trend within a +580m strike of hydrothermal breccia and gossans that returned assays up to 1.38% Cu and anomalous As +/- Ag-Sb-Bi-Mo.
- A combined 680m strike length of mapped hematite silica gossans remains under-sampled between the Aquila and Mt Gordon Prospects.
- Rock chip results will be integrated with ongoing mapping and results from the Queensland Government-funded MIMDAS IP and MT survey, which is currently underway along the Dorman Fault Mineral System.
The rock chip sampling program has successfully identified new broad zones of strongly anomalous copper and pathfinder elements. The copper grades and pathfinder anomalism returned in the samples are at levels consistent with other outcropping leached gossans associated with historic drill discoveries in the region.
The Ivena North and Aquila prospects are located along strike northwest of the high-grade Vero Cu-Ag-Co resource (Vero). Both prospects are high priority exploration targets for TNC, with a MIMDAS Induced Polarisation (IP) and Magnetotellurics (MT) geophysical survey continuing at Mt Oxide to test for geophysical anomalies coincident with outcropping geochemically anomalous gossans1, 3.
COMMENT
True North Copper’s Managing Director, Bevan Jones said:
“Our exploration team has been working hard to systematically map and sample the +10km Dorman fault trend at Mt Oxide. Multiple gossans have been identified, and rock chip results from the gossans are revealing large areas of wider and stronger mineralisation on which to focus our future exploration work, including the ongoing MIMDAS geophysical survey.
We are also remobilising the on-ground team to systematically collect additional rock chip samples over the newly discovered Black Marlin and Rhea structures. Further geophysical results are filtering through, and updates will be released soon. We are potentially building a significant district at Mt Oxide with multiple high priority targets which have never been drilled. Our next steps include prioritisation of these targets, designing and planning upcoming drill programs, and securing the necessary permits for on-ground access.”
Figure 1. Mt Oxide Project with priority prospects identified within the Dorman Fault corridor.
Summary of Results
During Q4 CY23, TNC’s Discovery Team initiated a prospectivity analysis of the Dorman Fault Mineral System, host to the Vero Cu-Ag-Co Resource (Vero) (15.03Mt @ 1.46% Cu and 10.59g/t Ag M, I & I, refer Table 1)4. Geological and structural mapping delineated a +10km highly prospective corridor of intermittently outcropping gossanous and silica breccias with no drilling, surface sampling or effective geophysics. Since completion of this work, TNC has collected 388 rock chip samples, including 243.5m of rock chip channel samples at the Ivena North and Aquila Prospects where TNC is currently acquiring MIMDAS IP and MT as part of its Queensland Government Collaborative Exploration Initiative (CEI) grant3.
Analysis of the assay results has highlighted eight high priority geochemically anomalous zones within the larger, structurally complex footprint at both prospects with two of these zones remaining open to the north. These anomalies have similar pathfinder geochemical signatures and are within the order of magnitude of the results from Camp Gossans4 south of Vero, which are considered analogous to the leached gossan outcrops at the Esperanza South deposit4.
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This article includes content from True North Copper, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
