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Anax Metals Limited (ASX: ANX, Anax, or the Company) is pleased to report that it has received partial lab results from recent rock chip and soil sampling which define cohesive in-situ lithium anomalies at Whim Maar (Li up to 72ppm in soils) and Loudens Patch Prospects (Li up to 161ppm in rocks). Whim Maar is the northernmost prospect of the Whim Creek Project, 80% owned and operated by Anax, under a joint venture with Develop Global Limited (ASX:DVP). Loudens Patch is 100% Anax owned and is adjacent to the east of Whim Creek Project (see Figures 1, 3 and 4).
- Results received from soil and rock chip sampling at Whim Maar and Loudens Patch have defined cohesive lithium zones
- Drill targets outlined for heritage clearance
- Lithium pegmatite potential extended across the Whim Creek Project
Geoff Laing, Managing Director of Anax Metals Limited (ASX: ANX) (“Anax” or “the Company”), commented on exploration progress:
“Soil and rock chip lithium anomalies from Whim Maar and Loudens Patch are cohesive and confirm the presence of lithium. Drill targets have been prioritised ready for heritage clearance ahead of drilling.
“Anax is broadening the search for lithium across the Whim Creek Project. Large areas remain under- explored due to lack of copper potential which has historically been the target for all exploration at Whim Creek. High-resolution satellite imagery shows extensive outcropping pegmatite swarms, now awaiting on-site verification. Anax is preparing a field programme to begin shortly, with mapping, soil and rock chip sampling at Whim Creek Dome to investigate the potential of these newly identified pegmatites.”
Following the recent discovery of pegmatites with lithium potential at Whim Maar and Loudens Patch1, and the world class lithium discovery by Azure Minerals (ASX: AZS) (~$1.17bn market cap) at the nearby Andover Project, Anax has now extended its lithium exploration further across the Whim Creek Project. UltraFine+™ soil sampling results, reported in 2021, 2022 and 20233,4,6, included lithium and associated elements (such as niobium, rubidium, strontium, caesium, tantalum, tin, etc). Contouring of lithium in soils (values up to 111ppm, contours spaced 10ppm - see Figure 1) has highlighted areas of lithium anomalism across the project as well as defining underexplored areas for further investigation.
Figure 1: Lithium contours illustrate anomalism across Whim Creek Project. Further soil and rock sampling planned at underexplored areas along with verification of interpreted pegmatites.
Interpretation of high-resolution satellite imagery has defined new pegmatite outcrops (patches shown in red, Figure 1) for on-site verification, some of which coincide with lithium soil anomalies.
Anax’s 3D structural model of Whim Creek, commissioned in 20215, illustrates a dome feature at the centre of the Whim Creek Project between the Whim Creek and Mons Cupri Copper-Zinc Resources. The dome is represented by bedding planes coloured blue for older units and red for younger units in Figure 2, below. This area is underexplored as the Rushall Shale (illustrated in light grey in Figure 2) and Cistern Formation metasediments, both known to host VMS copper-zinc mineralisation, have been eroded across the dome to expose the older Mons Cupri Dacite and Red Hill Volcanic units. Structural domes are usually evidence of folding and/or subsurface intrusions, such as granites. Granites are the likely source of pegmatites which can be seen outcropping across the underexplored dome feature (see Figure 2, above) and for this reason the Whim Creek Dome is prospective for lithium.
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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.
Significant Number of New LCT Pegmatite Targets Generated from Airborne Lidar at Aqua Property, James Bay – Quebec, Canada
Highlights:
- Airborne LiDAR and high-resolution photography flown across the La Grande Lithium Project.
- Assessment of data from LiDAR and high-resolution photography has generated a total of 123 LCT pegmatite targets across the Aqua Property.
- High-priority targets commence just ~200m to the east of FIN Resources’ significant spodumene showings1, which have returned assayed grades of up to 6.85% Li2O2.
- The La Grande Project is a highly prospective lithium property located along trend from Winsome Resources' (ASX: WR1) Cancet Lithium Project and Patriot Battery Metals (ASX: PMT).
LiDAR has been utilised to measure and map out the variations in slope, aspect and elevation to study landforms. The Company’s exploration team has examined all the variations in slope and elevation to identify and confirm high-priority areas which sit proud of other structures, as these are some of the key geological features expected of Lithium-Caesium-Tantalum (LCT) pegmatites in the region. Once structures have been identified utilising LiDAR, the James Bay Minerals team overlayed these onto high-resolution photos where white outcropping is visible generating key targets. This methodology will also be deployed in the assessment of JBY’s other La Grande Properties and its Troilus Project.
James Bay Executive Director, Andrew Dornan, commented:
“This is another exciting development for the Company with over 120 LCT pegmatite targets identified across our Aqua Property. Given we have the three key geological ingredients for giant LCT lithium- pegmatite deposits – along with FIN Resources’ spodumene discovery on the border of our Property – our confidence in the prospectivity at Aqua and the potential for a significant lithium discovery continues to grow.”
In conjunction with its exploration partner, Breakaway Exploration, JBY is in the process of planning a targeted field program across the Aqua Property focused on field mapping the new LCT pegmatite targets generated from LiDAR and high-resolution photography. This program is planned to commence in the first half of 2024.
Figure 1 – High-priority LCT pegmatite targets across the Aqua Property.
Figure 2 – Aqua Property high-priority LCT pegmatite targets within the north-western section of the Property, within proximity to FIN Resources’ discovery.
LiDAR, an acronym of "light detection and ranging" or "laser imaging, detection and ranging" is a method for determining ranges by targeting an object or a surface with a laser and measuring the time for the reflected light to return to the receiver.
LiDAR surveys produce a high-resolution topographical image of the surface, allowing detailed desktop exploration of outcropping pegmatites and prospective geological features. The survey will deliver a digital elevation model (DEM) on a 1x1m grid scale with an overlying image of 16cm pixel resolution.
The high-resolution nature of the survey is designed to uncover undiscovered or hidden pegmatites beneath vegetation. Pegmatite outcrops are more resistant to weathering than other lithologies present in the project area and tend to present as topographic highs which can be detected by the high-resolution LiDAR survey. Importantly, this technique has been successfully used in the James Bay region by other explorers and producers in the discovery of lithium-bearing pegmatites.
Background on James Bay Minerals
James Bay has acquired a 100% interest in one of the largest lithium exploration portfolios in the James Bay region, covering an area of 34,572Ha or 346km2. The Joule, Aero and Aqua properties are located in the La Grande sub province along trend from the Corvette deposit, where Patriot Battery Metals (ASX: PMT) recently reported a maiden Inferred Mineral Resource Estimate of 109.2Mt at 1.42% Li2O and 160ppm Ta2O5 (0.40% Li2O cut-off grade).3
The Troilus Project is located further to the south sitting only 5km to the north of Sayona’s Moblan Lithium Project and proximity to Winsome Resources’ Sirmac-Clappier Project.
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This article includes content from James Bay Minerals, 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.
Many Peaks Gold: Exploring Mining-friendly Jurisdictions to Meet Growing Demand for Critical Minerals
Many Peaks (ASX:MPG) capitalizes on Australia’s and Canada’s ongoing push to strengthen domestic critical mineral production by advancing its gold-copper assets in Queensland, Australia, and other key energy transition projects in Newfoundland and Labrador, Canada.
Many Peaks’ Canadian assets target REE and lithium deposits where Newfoundland represents an emerging district of lithium strategically positioned with access to both European and North American markets. The company’s REE project has not been previously drilled but has a defined, drill-ready target with the potential for a significant REE deposit.
The company’s assets in Queensland, meanwhile, cover a combined 464 square kilometers, with an 80 percent interest and an option over the remaining 20 percent. The company’s Australian portfolio has an excellent existing infrastructure and is host to intrusion-related gold systems and copper-gold porphyry style mineralization. The presence of copper allows these assets to meet the growing demand for the critical mineral, while gold creates additional value.
A management team with a range of experience throughout the natural resources industry leads the company toward achieving its goals of strengthening shareholder value through exploration.
Company Highlights
- Many Peaks is a mineral exploration company with assets in Australia and Canada.
- The company’s assets include several drill-ready targets focusing on minerals necessary for the transition to clean energy.
- Many Peaks aims to capitalize on both countries' push to strengthen domestic sources of critical minerals, while gold further improves the value of its assets.
- Both countries have mining-friendly regulations and the potential for future incentives to help bolster the domestic supply of lithium, copper and REEs.
- Many Peaks owns two critical minerals assets in Newfoundland and Labrador, Canada, and an extensive portfolio of copper-gold assets in Australia.
- The company’s Queensland assets cover a combined 464 square kilometers with several drill-ready copper-gold targets.
- An expert management team with extensive experience throughout the natural resources industry leads the team toward fully exploring its assets.
This Many Peaks profile is part of a paid investor education campaign.*
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