Anax Metals Limited

Drilling to Commence at Evelyn

Anax Metals Limited (ASX: ANX, Anax, or the Company) is pleased to announce that a diamond drill rig has mobilised to Whim Creek to commence drilling at the Evelyn deposit, targeting high-grade copper mineralisation. Evelyn is located approximately 25km south of Whim Creek (Figure 1). Anax has an 80%joint venture interest in the Whim Creek Project, with Develop Global Limited (ASX: DVP) holding the remaining 20%.
  • Diamond rig mobilised to Evelyn, targeting high-grade copper mineralisation
  • First drilling at Evelyn since 2022 when RC hole 22AER005B intersected 13m @ 4.46% Cu, 3.10% Zn, 1.61 g/t Au and 45 g/t Ag1
  • Programme to test for down-plunge extensions and increased drill density
  • Up to 1,700m of extensional and resource drilling planned

Anax’s Managing Director, Geoff Laing, commented “We continue to focus on project growth through the planned extension drilling at our high-grade Evelyn deposit in parallel to the Pilbara consolidation program. Our strategy remains to position Anax to become a significant copper producer and key player in consolidating base metal production in the Pilbara.”

Figure 1: Whim Creek Project location

In mid-2022, the Company drilled two RC holes at Evelyn. The initial hole was abandoned due to excessive deviation and despite also experiencing substantial deviation, the second hole, 22AER005B, intersected 13m @ 4.46% Cu, 3.10% Zn, 45 g/t Ag and 1.61 g/t Au from 204m (Figure 2).1 

Figure 2: Massive sulphide mineralisation (dark samples) intersected within 22AER005B

The primary purpose of the programme will be to test for down-plunge extensions of high-grade copper below 22AER005B with a further two holes planned to increase drill density in the vicinity, which may allow for conversion from Inferred to Indicated Resources.

Diamond drilling will be used due to the excessive deviation experienced in the previous RC programme. The core holes will undergo geotechnical logging which will add to the existing geotechnical database and increase confidence in the geotechnical assessment. Mineralised intersections will also be retained for metallurgical variability testing.


Click here for the full ASX Release

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.

Anax Metals Limited

Anax Metals Limited Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Anax Metals Limited

Anax Metals Limited


Keep reading...Show less

Near-term copper producer targeting resource growth and a regional consolidation strategy

Osisko Metals (TSXV:OM)

Osisko Metals


Keep reading...Show less
Copper bars with weight stamps, stock market chart background.

What Was the Highest Price for Copper?

Strong demand in the face of looming supply shortages has pushed copper to new heights in recent years.

With a wide range of applications in nearly every sector, copper is by far the most industrious of the base metals. In fact, for decades, the copper price has been a key indicator of global economic health, earning the red metal the moniker “Dr. Copper.” Rising prices tend to signal a strong global economy, while a significant longer-term drop in the price of copper is often a symptom of economic instability.

After bottoming out at US$2.17 per pound, or US$5,203.58 per metric ton (MT), in mid-March 2020, copper has largely been on an upward trajectory.

Keep reading...Show less
Empire Metals

Empire Metals Limited Announces Team Expansion & Bulk Met Testing Commences

Empire Metals Limited (LON:EEE), the AIM-quoted and OTCQB-traded resource exploration and development company, is pleased to announce several strategic technical appointments and partnerships that strengthen the in-house project development team and support the advancement of the Pitfield Titanium Project ("Pitfield" or the "Project") in Western Australia.

These appointments coincide with the commencement of bulk-scale metallurgical testing, a critical step in progressing Pitfield toward commercial development.

Keep reading...Show less
Cracked globe labeled "Tariffs" and "Sanctions" on a wooden surface.

Global Outcry Mounts Over Trump’s Tariff Blitz Ahead of Deadline

President Donald Trump’s surprise announcement of 30 percent tariffs on imports from the EU and Mexico has triggered immediate backlash from various stakeholders, with less than three weeks to go before the tariffs take effect on August 1.

The tariffs—part of a broader series of trade penalties that include duties on copper and new levies on Canada, Japan, South Korea, and Brazil—have drawn sharp criticism from some of the country's closest allies and trading partners.

Keep reading...Show less
Lobo Tiggre, copper bars.

Lobo Tiggre: Copper's Trump Tariffs — Plus Gold Price, Uranium Opportunity

Lobo Tiggre, CEO of IndependentSpeculator.com, discusses the recent news that the US plans to put a 50 percent tariff on copper imports.

He also weighs in on gold, silver and platinum price drivers, as well as uranium stocks.

Keep reading...Show less
Metal pipes and bars obstructed by yellow "tariffs" tape with US flags.

Copper Soars to All-time High as Trump Unveils 50 Percent Tariff on Imports

US President Donald Trump said Tuesday (July 8) that he plans to impose a 50 percent tariff on all copper imports, a dramatic escalation of his administration’s use of targeted trade restrictions on national security grounds.

“I believe the tariff on copper, we're going to make 50 percent,” Trump said during a White House cabinet meeting.

Though he did not provide a timeline, Commerce Secretary Howard Lutnick said in a subsequent CNBC interview that the tariff could take effect by late July or as early as August 1, with details to be posted on Trump’s Truth Social account.

Keep reading...Show less
Anax Metals Limited

Anax Metals Limited Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×