Anax Metals Limited

High-Grade Copper-Zinc Confirmed at Evelyn

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 (Figure 1).


  • Preliminary continuous XRF scanning results confirm high-grade copper-zinc intersections
  • Diamond drilling now completed with visually-observed sulphide mineralisation intersected in all holes
  • Samples submitted for laboratory analysis with results expected in September
  • Evelyn regional exploration programme commenced aimed at identifying Evelyn- type high-grade VMS base metal deposits
  • Auger sampling and geophysics planned ahead of RC-drilling of high priority targets

Anax’s Managing Director, Geoff Laing commented: “These results again demonstrate the high-grade nature of this VMS deposit, and we are pleased with the outcomes of this drilling campaign. The team will continue to focus on leveraged growth outcomes at Whim Creek and we look forward to providing ongoing updates on the near mine exploration along with our regional consolidation strategy”

The Company has received results from continuous XRF-scanning of the first two holes, and these have confirmed the high-grade nature of the visual intersections. 1

CAUTIONARY STATEMENT ON CONTINUOUS XRF SCANNING RESULTS

Core was processed through the Minalyzer CS (Minalyzer) continuous XRF scanning unit in Perth. Six trays of calibration core samples were submitted with the new drilling, but no high-grade mineralisation was available. The results presented in this announcement are therefore considered partially calibrated as the upper limit of likely assays are not represented in the calibration core. The XRF results that are subject of this report will be submitted for laboratory assay and some variation from the results presented herein should be expected. Further information about Minalyzer is provided at the end of this announcement.

Figure 1: Location of the Whim Creek Project and Evelyn Deposit

The best visual intersection from the drilling programme previously reported1 is from Hole 24AED002A which encountered a strongly mineralised zone between 176.45 and 189.9m (Figure 2).1 Preliminary results from Minalyzer continuous XRF-scanner have confirmed the high-grade nature of the intersection (Table 1).

In addition, Evelyn mineralisation typically contains significant gold and silver enrichment. However, the continuous XRF-scanner is unable to accurately quantify gold and silver grades, and these are therefore not reported. Laboratory analyses will include gold and silver assays, and results for precious metals will be reported once received.

Table 1: Significant continuous XRF-scanning results for 24AED002A

Figure 2: Massive sulphide mineralisation in 24AED002A

Hole 24AED001 was designed to intersect the high-grade shoot below previous drill hole, JER074, which intersected 13m @ 2.56% Cu, 4.98% Zn, 1.92 g/t Au and 41 g/t Ag.2 The hole deviated in a southerly direction from its planned intersection position and clipped the base of the shoot. Preliminary results from continuous XRF scanning are shown below in Table 2. Laboratory analyses will include gold and silver assays, and results will be reported once received.

Table 2: Significant continuous XRF-scanning results for 24AED001

The final two holes of the diamond drilling programme at Evelyn have now been completed. Both 22AED003 and 222AED004 encountered sulphide mineralisation in the anticipated positions, including localised sections of strong copper and/or zinc mineralisation (Figure 3).

Figure 3: Sphalerite, galena and minor chalcopyrite in 24AED003

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.

Both 24AED003 and 24AED004 encountered sulphide mineralisation, but they did not intersect the mineralised horizon at the planned target zones due to excessive swing to the south. The possibility for down-plunge resource extensions remains (Figure 4), and the Company anticipates that areas of potential resource growth will be tested in future with Reverse Circulation (RC) drilling. Summary logs for 24AED003 and 004 are provided below in Table 3 and Table 4.

Geotechnical logging of the first two diamond holes have completed. Encouragingly, the hanging wall mafic unit in which the decline at Evelyn will be developed, appears very competent containing minimal fractures or foliation.


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.

ANX:AU
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

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
Empire Metals

Empire Metals Limited Announces Completion of MRE Drilling Campaign

Completion of Major Drilling Campaign Targeting Maiden Mineral Resource Estimate

Empire Metals Limited, the AIM-quoted and OTCQB-traded exploration and development company, is pleased to announce the successful completion of its largest drilling campaign to date at the Pitfield Project in Western Australia ('Pitfield' or the 'Project'). This programme focussed on high-grade titanium mineralisation within the in-situ weathered cap at the Thomas Prospect and is designed to underpin the Company's maiden JORC compliant Mineral Resource Estimate ('MRE').

Highlights

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

×