
- NORTH AMERICA EDITIONAustraliaNorth AmericaWorld
September 01, 2024
Anax Metals Limited (ASX: ANX) (Anax or the Company) is pleased to advise on the waste rock repurposing initiative. The Whim Creek Copper-Zinc Project, located 100 km southwest of Port Hedland, is jointly held by ANX (80%) and DVP (20%). Anax is focussed on developing a copper mine and processing hub to produce copper concentrates and cathode along with valuable by-products. A definitive feasibility study1 and subsequent leaching study2 detailed an initial 8-year mining project that will deliver in excess of $400M in free cashflows.
- Anax is pursuing an opportunity to generate near term revenue through the production of road base / aggregates from existing waste rock
- Working with Castle Civil Pty Ltd, the team is looking to develop a business that will reclaim waste rock and turn it into valuable products
- A commercial scale trial is underway producing material for blending to road base products
- Whim Creek is fully permitted for mining and processing activities and the site is ideally located to supply road base and aggregate products to a rapidly developing Pilbara region
- Aggregate production at Whim Creek will be complementary to the planned regional copper and base metals hub while delivering environmental benefits through the repurposing of waste.
- The team continues with its primary focus on the growth of the copper business through the development of the processing hub at Whim Creek and consolidation and exploration
Anax’s Managing Director, Geoff Laing commented: “Anax is pleased to be pursuing an early-stage revenue opportunity for Whim Creek, while we advance growth initiatives to establish the project as a production hub for the sustainable development of copper and base metals projects in the Pilbara. This innovative approach to repurposing waste materials underlines our commitment to maximise shareholder value through diversified revenue streams from the project. Since acquiring Whim Creek, the Anax team has committed significant resources to improving the site, including key upgrade works, resulting in revoking the Environmental Protection Notice and securing operating permits for the planned mining operation. Repurposing the existing waste rock dumps is another positive initiative that can potentially deliver economic and environmental benefits for us and the region.”
Figure 1: Location of the Whim Creek Project3,4,5,6
While the Company remains 100% focussed on the Whim Creek Copper project, it is investigating the potential to efficiently produce road base, fill and aggregate materials utilising the readily available mined and stacked waste rock and existing site infrastructure. Whim Creek is an established site that is fully permitted for mining and producing copper concentrates and associated products. Site infrastructure includes process plant, water and power systems, offices, roads, and a camp. Applications have been submitted to the Department of Energy, Mines and Industrial Regulation and Safety (DMIRS) and the Department of Water and Environment Regulations (DWER) for relevant amendments to the existing permits to facilitate the repurposing of existing waste rock. The distribution of potential products will be via the northwest highway, which runs directly past the Whim Creek site. Anax intends to pursue producing repurposed waste products in parallel with its ongoing copper growth strategy and closing out financing for the planned copper project.
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.
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The Conversation (0)
04 March
Anax Metals Limited
Investor Insight
Anax Metals, an ASX-listed exploration company, is dedicated to advancing its copper assets in Western Australia’s Pilbara region. Through key joint ventures and strategic partnerships, the company is well-positioned to develop a central processing hub, enhancing operational efficiency and delivering strong investor value.
Overview
Anax Metals (ASX:ANX) is a project developer that is on track to begin producing copper and zinc concentrates from its flagship Whim Creek project in the Pilbara region of Western Australia. The project is 80 percent owned by Anax, with JV partner Develop Global (Develop) owning the remaining 20 percent. The Whim Creek DFS (and leaching study) have demonstrated the opportunity for an eight-year mining operation producing copper concentrates, cathodes and valuable byproducts. The operation will generate $410 million in cash flow and deliver an NPV of $270 million with a development capex of $71 million.
The company believes its growth potential lies both in expanding the mineral resources across the project’s four deposits and in a consolidation strategy that includes a processing hub with a concentrator and heap leach at Whim Creek. Benefits from the consolidation include delivering economies of scale with processing flexibility to treat ores from regional orebodies. The permitted infrastructure is ideally located and suited to becoming the Pilbara-processing hub.
Anax Metals and GreenTech Metals signed a non-binding and non-exclusive memorandum of understanding to assess the potential to treat mined material from GreenTech’s base metal assets, with a focus on the open-pittable Whundo deposit.
Anax Metals also signed a non-binding and non-exclusive memorandum of understanding (MoU) with Artemis Resources (ASX:ARV) to jointly assess the potential for processing the copper content of Artemis’ open-pittable Greater Carlow resource at the fully-permitted Whim Creek Processing hub. Anax and Artemis also agree to evaluate the potential for Artemis to explore for gold mineralisation on the Anax project tenure.
Company Highlights
- Anax Metals focuses on delivering copper production at the Whim Creek copper-zinc project within the next 18 to 24 months, targeting over $400 million in free cash flow across an eight-year mine life.
- The company aims to drive resource expansion and consolidate copper assets in the Pilbara region by developing a central processing hub.
- Since completing the DFS last year, Anax Metals has been evaluating opportunities to increase Whim Creek’s production capacity beyond 20 kt of copper equivalent per year.
- Capital requirements are expected to remain low, with plans to leverage existing infrastructure and deploy preconcentration technology to optimize processing capacity..
- Anax Metals actively collaborates with key partners, including Develop Global (ASX:DVP), Greentech Metals (ASX:GRE), and several metal trading groups.
Key Projects
Whim Creek Copper-Zinc Project
Whim Creek is strategically located along the NW Coastal Highway in Western Australia’s Pilbara region, approximately 120 km from both Port Hedland and Karratha. With a long history of copper production, the project benefits from existing infrastructure, including dams, haul roads, offices, workshops, and a dedicated gas spur line. Currently being developed as an 80/20 joint venture between Anax Metals and Develop Global, Whim Creek hosts four key deposits—Whim Creek, Mons Cupri, Salt Creek, and Evelyn. These deposits feature structurally controlled, volcanic-hosted massive sulphide copper-zinc-lead mineralization, presenting significant development potential.
On-going exploration work at Evelyn resulted in discovering exciting new targets for future drilling campaigns scheduled in early 2025. Exploration works conducted in 2024 indicated high copper grades and new soil anomalies. The company is assessing the regional potential of the granted Evelyn Mining Lease for further high-grade VMS-type, polymetallic base metal deposits.
Anax Metals announced its recent application for an exploration license (E47/5275) covering 65 sub-blocks spanning approximately 207 sq. km, which extends the company’s landholding to the south and west of the Whim Creek joint venture tenement package. Once granted, the new tenement will be 100 percent owned by Anax. The majority of E47/5275 lies within the Whim Creek Greenstone Belt, which is highly prospective for volcanogenic massive sulphide (VMS) mineralization, similar to the Whim Creek and Mons Cupri deposits.
Production – Concentrator and Heap Leach
Since completing the definitive feasibility study in 2023, Anax has promoted Whim Creek as a regional processing hub, with potential for an expanded production capacity over 20 kt copper equivalent. Highlights of the technical report include FCF generation of $410 million over an eight-year mine life. Processing would be predominantly through the planned concentrator. Heap leaching is anticipated to begin in the second year of production.
Anax has achieved significant success with bioleaching technology, reporting up to 80 percent copper and 90 percent zinc extraction rates. This innovative approach enhances metal recovery and supports the company’s commitment to sustainable practices.
A processing hub with sorting, concentrator and heap leach facilities
The company believes the project will also provide a processing solution for surrounding projects located within trucking distance of Anax’s processing facility. In the long term, Anax plans to establish a Pilbara Base Metal Alliance to facilitate collaboration with other base metal projects in the region.
Management Team
Phillip Jackson - Chairman
Phillip Jackson is a barrister and solicitor with significant legal and international corporate experience, Phillip Jackson specialises in commercial and contract law, mining and energy law and corporate governance. He has been a director and chairman of a number of ASX and AIM listed minerals companies.
Geoff Laing - Managing Director
Geoff Laing is a chemical engineer with 30 years in mining and project development. He has been involved in the exploration and junior mining sector for the last 15 years, taking on corporate and advisory roles. He was a key player in Exco Resources’ divestment of a substantial copper asset for $175 million to Xstrata Copper, and as managing director, he delivered the successful takeover of the company by WH Sol Pattinson.
Peter Cordin - Non-executive Director
Peter Cordin is a civil engineer with over 45 years' global experience in mining and exploration, both at operational and senior management levels. He has direct experience in the construction and management of diamond and gold operations in Australia, Fenno-Scandinavia and Indonesia.
Phil Warren - Non-executive Director
Phil Warren is a chartered accountant with over 25 years’ experience in board governance, corporate advisory and capital raising advice. Warren has spent a number of years working overseas for major international investment banks. He is currently a non-executive director of ASX listed companies, including Family Zone Cyber Safety, Narryer Metals, Killi Resource and Rent.com.au. He was a founding director of Cassini Resources, which was subsequently acquired by Oz Minerals.
Jenine Owen - Chief Financial Officer
Jenine Owen joined Anax in 2020, where she is responsible for corporate risk management, financial management and financial reporting. She is a chartered accountant with extensive finance and commercial experience, including several CFO roles in ASX listed entities. Having started her career with Deloitte (Zimbabwe) in the external assurance division, she moved to London in 1999 where she held various finance and governance roles before settling in Australia in 2008. Prior to joining Anax, Owen was CFO at Predictive Discovery (ASX:PDI).
Andrew Mcdonald - General Manager
Andrew McDonald is a seasoned geologist with over 20 years of experience in project management, development, resource geology, and exploration across a wide range of commodities. He has held roles with several ASX-listed mining companies, where he has led project development and managed regulatory approvals for mining projects in both Australia and the United States.
Dan O’Hara – Environmental Manager
Dan O’Hara is an experienced environmental professional with over 15 years in environmental management across the mining, oil and gas, construction, and government sectors. In recent years, he has played a key role in securing environmental permits for mining projects in Western Australia.
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Near-term copper producer targeting resource growth and a regional consolidation strategy
28 July
Quarterly Activities/Appendix 5B Cash Flow Report
05 May
ANX secures commitment for funding from cornerstone investor
Anax Metals Limited (ANX:AU) has announced ANX secures commitment for funding from cornerstone investor
30 April
Quarterly Activities/Appendix 5B Cash Flow Report
12 September
Empire Metals Limited Announces Director/PDMR Shareholding
Empire Metals Limited / LON:EEE / Sector: Natural Resources - Empire Metals Limited ("Empire" or the "Company")
Director Dealing
Empire Metals Limited (LON:EEE)(OTCQX:EPMLF), the AIM-quoted resource exploration and development company, announces that it was notified today that Mr Greg Kuenzel, Finance Director, purchased 111,091 ordinary shares of no par value in the share capital of the Company ("Ordinary Shares") at a price of 45 pence each.
Following this purchase, Mr Kuenzel's total beneficial ownership in the Company is 3,969,669 Ordinary Shares representing 0.57% of the Company's issued share capital.
**ENDS**
For further information please visit www.empiremetals.co.uk or contact:
About Empire Metals Limited
Empire Metals is an AIM-listed and OTCQX-traded exploration and resource development company (LON: EEE, OTCQX: EPMLF) with a primary focus on developing Pitfield, an emerging giant titanium project in Western Australia.
The high-grade titanium discovery at Pitfield is of unprecedented scale, with airborne surveys identifying a massive, coincident gravity and magnetics anomaly extending over 40km by 8km by 5km deep. Drill results have indicated excellent continuity in grades and consistency of the in-situ mineralised beds and confirm that the sandstone beds hold the higher-grade titanium dioxide (TiO₂) values within the interbedded succession of sandstones, siltstones and conglomerates. The Company is focused on two key prospects (Cosgrove and Thomas), which have been identified as having thick, high-grade, near-surface, in-situ bedded TiO₂ mineralisation, each being over 7km in strike length.
An Exploration Target* for Pitfield was declared in 2024, covering the Thomas and Cosgrove mineral prospects, and was estimated to contain between 26.4 to 32.2 billion tonnes with a grade range of 4.5 to 5.5% TiO2. Included within the total Exploration Target* is a subset that covers the in-situ weathered sandstone zone, which extends from surface to an average vertical depth of 30m to 40m and is estimated to contain between 4.0 to 4.9 billion tonnes with a grade range of 4.8 to 5.9% TiO2.
The Exploration Target* covers an area less than 20% of the overall mineral system at Pitfield which demonstrates the potential for significant further upside.
Empire is now accelerating the economic development of Pitfield, with a vision to produce a high-value titanium metal or pigment quality product at Pitfield, to realise the full value potential of this exceptional deposit.
The Company also has two further exploration projects in Australia; the Eclipse Project and the Walton Project in Western Australia, in addition to three precious metals projects located in a historically high-grade gold producing region of Austria.
*The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource. See RNS dated 12 June 2024 for full details.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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12 September
Empire Metals Limited Announces Exercise of Options
Empire Metals Limited (LON:EEE)(OTCQX:EPMLF), the AIM-quoted resource exploration and development company, announces that it has received notification from employees of the Company and its operating subsidiary, in their capacity as option holders, to exercise options over 2,500,000 new ordinary shares of no par value in the share capital of the Company (the 'New Ordinary Shares') at a price of 14 pence per share and 500,000 new ordinary shares of no par value in the share capital of the Company (the 'New Ordinary Shares') at a price of 2.5 pence per share. Accordingly, the Company has today issued the New Ordinary Shares to the option holder for an aggregate cash value of £362,500.
Application for Admission
Application will be made to the London Stock Exchange for the new shares to be admitted to trading on AIM ('Admission'). It is expected that Admission will become effective on or around 18 September 2025.
Following Admission of the new shares as described above, the issued share capital of the Company will consist of 693,393,221 ordinary shares of no-par value. 693,393,221 represents the total number of voting rights in the Company and may be used by shareholders as the denominator for the calculations by which they can determine if they are required to notify their interest in, or a change to their interest in the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.
**ENDS**
For further information please visit www.empiremetals.co.uk or contact:
About Empire Metals Limited
Empire Metals is an AIM-listed and OTCQX-traded exploration and resource development company (LON:EEE)(OTCQX:EPMLF) with a primary focus on developing Pitfield, an emerging giant titanium project in Western Australia.
The high-grade titanium discovery at Pitfield is of unprecedented scale, with airborne surveys identifying a massive, coincident gravity and magnetics anomaly extending over 40km by 8km by 5km deep. Drill results have indicated excellent continuity in grades and consistency of the in-situ mineralised beds and confirm that the sandstone beds hold the higher-grade titanium dioxide (TiO₂) values within the interbedded succession of sandstones, siltstones and conglomerates. The Company is focused on two key prospects (Cosgrove and Thomas), which have been identified as having thick, high-grade, near-surface, in-situ bedded TiO₂ mineralisation, each being over 7km in strike length.
An Exploration Target* for Pitfield was declared in 2024, covering the Thomas and Cosgrove mineral prospects, and was estimated to contain between 26.4 to 32.2 billion tonnes with a grade range of 4.5 to 5.5% TiO2. Included within the total Exploration Target* is a subset that covers the in-situ weathered sandstone zone, which extends from surface to an average vertical depth of 30m to 40m and is estimated to contain between 4.0 to 4.9 billion tonnes with a grade range of 4.8 to 5.9% TiO2.
The Exploration Target* covers an area less than 20% of the overall mineral system at Pitfield which demonstrates the potential for significant further upside.
Empire is now accelerating the economic development of Pitfield, with a vision to produce a high-value titanium metal or pigment quality product at Pitfield, to realise the full value potential of this exceptional deposit.
The Company also has two further exploration projects in Australia; the Eclipse Project and the Walton Project in Western Australia, in addition to three precious metals projects located in a historically high-grade gold producing region of Austria.
*The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource. See RNS dated 12 June 2024 for full details.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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11 September
Copper Quest Announces Multi-National Investor Awareness Campaign
Copper Quest Exploration Inc. (CSE: CQX; OTCQB: IMIMF; FRA: 3MX) ("Copper Quest" or the "Company") is pleased to announce the launch of its Investor Awareness Campaign designed to educate retail and institutional investors on Copper Quest and its portfolio of North American critical mineral projects. The Campaign will begin on or around September 15th, 2025 and run until September 1st, 2026 and includes agreements signed with Guerilla Capital, Dig Media Inc. 'dba' Investing News Network, and Departures Capital Inc.
Guerilla Capital
The Company has entered into a Consulting Agreement with Guerilla Capital ("Guerilla") to provide investor outreach, community building, and capital markets consulting and advisory services for the Company over a period of twelve (12) months. In consideration for these services, the Company will pay Guerilla a total fee of $100,000 CAD plus applicable taxes. The engagement is at arm's length, and neither Guerilla nor its principals currently hold any securities of the Company. Guerilla utilizes dynamic, high impact, high volume messaging across over 50+ investing groups (investor chat rooms, forums, platforms, websites, Facebook groups, Discord Rooms, Stock Channels and Reddit) to ensure millions of investors are targeted and supported daily. If you would like to know more about Guerilla their website is https://guerillacapital.io.
Investing News Network
The Company has entered into an advertising and investor awareness Campaign Agreement with Dig Media Inc. dba Investing News Network ("INN"). INN is a private company headquartered in Vancouver Canada, dedicated to providing independent news and education to investors since 2007. For the (12) month term of agreement INN will provide advertising on its website to increase awareness of the Company. The cost of the campaign is $107,000 CAD plus applicable taxes. The engagement is at arm's length, and neither Dig Media nor its principals currently hold securities of the Company. INN is a leading provider of investor focused news, designed to educate investors and connect them with opportunities. The INN process involves an integrated approach that educates the investor, brands the company within its sector, and connects the investor & company in multiple ways for the benefit of each party. INN does not provide market making services. INN can be reached at 604-688-8231 or www.investingnews.com.
Departures Capital
The Company has entered into a Service Agreement with Departures Capital Inc. ("DCI") under which DCI will provide strategic consulting, investor communications, digital media production, and other related services to Copper Quest for a (12) month term. Under the agreement, Copper Quest will pay DCI $25,000 CAD plus applicable taxes. DCI is arm's length to Copper Quest. DCI is a marketing company dedicated to creating value for public companies through targeted, informative multi-level marketing strategies by remaining at the forefront of digital trends, from Webflows to TikToks, AI and more. DCI is an industry leader in crafting short-form videos and compelling written content, along with branded landing pages designed to attract tangible investor leads. DCI can be reached by email at contact@departurescapital.com or at 1500-409 Granville Street, Vancouver, British Columbia V6C 1T2, (519) 590-6985.
Financing
The Company also announces that, further to its news releases dated June 27, 2025, and August 19, 2025, the Company anticipates closing of the second tranche (the "Second Tranche") of its previously announced non-brokered private placement (the "Private Placement") on or about September 19, 2025.
Proceeds from the Private Placement are intended for exploration activities and general working capital purposes.
The Company may pay finder's fees in the Second Tranche.
About Copper Quest Inc.
Copper Quest (CSE: CQX; OTCQB: IMIMF; FRA: 3MX) is focused on building shareholder value through the exploration and development of its North American Critical Mineral portfolio of assets. The Company's land package currently comprises four projects that span over 40,000+ hectares in great mining jurisdictions.
Copper Quest has a 100% interest in the Stars Property, a porphyry copper-molybdenum discovery, covering 9,693 hectares in central British Columbia's Bulkley Porphyry Belt. Contiguous to the Stars Property Copper Quest has a 100% interest in the 5,389 hectare Stellar Property. CQX also has an earn-in option up to 80% and joint-venture agreement on the 4,700 hectare porphyry copper-molybdenum Rip Project, also in the Bulkley Porphyry Belt.
Copper Quest has a 100% interest in the Thane Project located in the Quesnel Terrane of Northern BC which spans over 20,658 ha with 10 high-priority targets identified demonstrating significant copper and precious metal mineralization potential.
Copper Quest's leadership and advisory teams are senior mining industry executives who have a wealth of technical and capital markets experience and a strong track record of discovering, financing, developing, and operating mining projects on a global scale. Copper Quest is committed to sustainable and responsible business activities in line with industry best practices, supportive of all stakeholders, including the local communities in which it operates. The Company's common shares are principally listed on the Canadian Stock Exchange under the symbol "CQX". For more information on Copper Quest, please visit the Company's website at Copper Quest.
On behalf of the Board of Copper Quest Exploration Inc.
Brian Thurston, P.Geo.
Chief Executive Officer and Director
Tel: 778-949-1829
For further information contact:
Kelly Abbott
Investor Relations
info@copper.quest
Forward Looking Information
This news release contains certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact included herein, including without limitation, statements relating the Second Tranche of Private Placement, future operations and activities of Copper Quest, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, risks associated with possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, risks associated with the interpretation of exploration results, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. The Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.
The Canadian Securities Exchange has not reviewed, approved or disapproved the contents of this press release, and does not accept responsibility for the adequacy or accuracy of this release.
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10 September
T2 Metals Secures Option to Acquire Shanghai Gold-Silver Project in Yukon's Tombstone Gold Belt and Appoints Shawn Ryan to Advisory Board
T2 Metals Corp. (TSXV: TWO) (OTCQB: TWOSF) (WKN: A2DR6E) ("T2 Metals" or the "Company") is pleased to announce signing of an Option Agreement (the "Option") with renowned explorer Shawn Ryan ("Ryan") and Wildwood Exploration Inc. (together with Ryan, the "Optionor") to earn a 100% interest in the 27.4 sq km Shanghai gold-silver project in the Mayo Mining District, Yukon Territory, Canada. The project lies within the Tombstone Gold Belt, 12 km west of Hecla Mining's Keno Hill silver mine, and midway between the AurMac, Eagle and Raven intrusion-related deposits (see Table 1 for further information on these deposits).
The Shanghai project includes a Class 3 permit enabling drilling, road construction and installation of a camp.
Highlights:
- Large landholding in the Tombstone Gold Belt, one of North America's premier gold and silver mining districts;
- Project lies within 10 km of multiple resource-stage gold projects as reported within NI43-101 compliant technical reports since 2022 (see resource information pertaining to the Eagle, Olive, Raven, Airstrip and Powerline projects in Table 1 and www.sedarplus.ca for supporting technical reports);
- Similar geological setting to major discoveries by Sitka Gold Corp and Banyan Gold Corp;
- No prior exploration drilling on the property;
- High gold, silver, antimony and bismuth in soil samples provide immediate targets. Gold values in soil up to 6.1 g/t Au;
- Permits in place for road construction and drilling;
- Highly regarded and successful explorer Shawn Ryan to join T2 Metals' Advisory Board;
The Shanghai project sits within the northwest portion of the Yukon's Tombstone Gold Belt, one of North America's most active and gold-endowed mining districts, and home to the famous Klondike goldfield (Figure 1). Recent exploration of the Tombstone Gold Belt by Snowline Gold Corp (Valley project), Sitka Gold Corp (RC Gold project), Banyan Gold Corp (AurMac project) and Sanatana Resources Inc have highlighted the potential for major new gold discoveries and value creation.
Mark Saxon, CEO of T2 Metals Corp., said, "We have worked hard to identify high potential gold projects to augment our existing portfolio, and are very pleased to have secured Shanghai in one of North America's premier gold exploration districts. The project has been held by Shawn Ryan for over 20 years, during which time major gold projects have been discovered on the property boundaries.
New investment by a range of explorers in the Tombstone Gold Belt is progressively revealing significant gold deposits. We are very pleased to join the search, supported by one of the Yukon's most successful explorers in Shawn Ryan."
Project partner, Shawn Ryan, commented, "The geology and geochemistry of the Shanghai project look a lot like that from the surrounding resource-stage gold deposits, and it is a project well overdue for drilling. We are keen to see what T2 Metals will discover and I'm very happy to be advising their technical team."
Figure 1: Regional Location of the Shanghai Project, Yukon Territory, Canada.
See Table 1 for additional information on resource-stage projects and supporting NI43-101 report references.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7326/265810_08849d2834cbbb3d_002full.jpg
The Shanghai claims cover a large area of Hyland Group metasediments immediately above the Robert Service Thrust fault with mapped mid-Cretaceous (~90Ma) Tombstone Plutonic Suite intrusions (Figure 2, 3). This setting is analogous to the AurMac deposit of Banyan Gold Corp, which hosts 112.5 million tonnes at 0.63 g/t Au (for 2.28 million oz of gold) in the Indicated Resource estimate category; and 280.6 million tonnes at 0.60 g/t Au (for 5.50 million ounces of gold) in the Inferred Resource estimate category, only 6 km to the south of Shanghai (resource information for the AurMac deposit is based on a technical report prepared for Banyan Gold Corp titled Technical Report, Aurmac Property, Yukon Territory, Canada by Hantelmann, T. et al., with an effective date of June 28, 2025 and available at www.sedarplus.ca). See Table 1 for additional information.
The presence of the Tombstone Plutonic Suite is similar to the Yukon's most exciting recent discoveries that lie to the east (Snowline) and west (Sitka) of Shanghai.
From 2004, Ryan staked the areas surrounding the historical Shanghai silver-lead-zinc mine north of Mayo, identifying overlapping potential for intrusion-related gold and high-grade silver. As the Hyland Group presents limited outcrop, Ryan applied the techniques utilised during his discovery of the White Gold and Coffee deposits and collected more than 4,000 auger soil samples. This sample data has defined areas of high gold-antimony-bismuth, an association that correlates well to the intrusion-related gold deposits being explored by Banyan Gold Corp, Sitka Gold Corp and Snowline Gold Corp; and areas of high silver-lead which correlates to Keno Hill style mineralization.
Auger soil data covers an area of 23 km2 with gold values ranging from <0.5 ppb to 6.1 ppm averaging 17 ppb; silver values ranging from <0.05 ppm to >100 ppm averaging 0.4 ppm; and lead ranging from 15 ppm to >1% averaging 27 ppm (4435 samples). In addition to auger soil sampling, Ryan completed ground magnetics and induced polarization ("IP") geophysics over much of the Shanghai property. The reader is cautioned that while this information is considered reliable the Qualified Person and the Company have relied on data provided by the Optionor and has been unable to verify the information independently. Additional information as to the history of the Shanghai project can be found in NI43-101 Technical Report titled "Shanghai Project Technical Report, Mayo Mining District, Yukon" dated July 15, 2022 by Doherty, R. A. (P. Geo.) on behalf of Targa Exploration Corp. on www.sedarplus.ca.
Despite the discovery potential of the project, and geological similarity to major deposits, no exploration drilling has been completed at Shanghai. T2 Metals proposes additional surface sampling and local geophysics to better refine and prioritise target areas, followed by drilling during 2026. The Shanghai project holds a valid Class 3 Quartz Mining Land Use permit which enables drilling, road construction and installation of a camp if required. The project lies within 5km of the Eagle Gold Mine road and 6 km from Baynan Gold Corp's AurMac camp.
Figure 2: Geological Map for Shanghai Project, Yukon Territory, Canada.
See Table 1 for additional information on resource-stage projects and supporting NI43-101 report references.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7326/265810_08849d2834cbbb3d_003full.jpg
Figure 3: Cross Section from Shanghai Project to AurMac Deposit Area (see Figure for Section line).
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7326/265810_08849d2834cbbb3d_004full.jpg
Option Terms
Subject to receipt of TSX Venture Exchange ("TSXV") approval of the Option Agreement, T2 Metals will have the option to acquire a 100% undivided interest in the Shanghai project, for a total consideration of $500,000 in cash and 3,000,000 common shares of T2 Metals to be paid to the Optionor in incremental amounts over a seven-year period, which may be accelerated at the discretion of T2 Metals. An initial cash payment of $50,000 and an initial payment of 300,000 common shares in T2 Metals will be made following TSXV acceptance of the Transaction. All shares issued under the Option Agreement will be subject to a four-month hold period from the date of issuance in accordance with applicable securities laws.
In order to exercise the Option, T2 Metals is also required to incur exploration expenditures on the Shanghai project totalling a minimum of $1,800,000 over six years, including $100,000 by November 15, 2026. Upon commencement of commercial production on the Shanghai project, the Optionor will retain a 2% net smelter return royalty on the property with 1% purchasable by T2 Metals for the cash payment of $1,000,000 to the Optionor.
The claims are located within the traditional territory of the Nacho Nyak Dun First nation, which has settled its land claim, and is a self-governing first nation.
About Shawn Ryan
As part of the Shanghai transaction, Shawn Ryan has agreed to join T2 Metals Advisory Board. Shawn is a well-known prospector and entrepreneur in the Yukon's mineral exploration industry. He is recognized for his innovative and systematic approach to gold exploration, which has been credited with sparking a "second Klondike gold rush". Ryan's career is marked by a methodical approach to sampling, including development of a novel auger soil sampling technique, a method particularly effective in the Yukon where thick soil layers often obscure bedrock.
Shawn Ryan's work led to several significant discoveries including the Golden Saddle and Arc deposits, which became part of the multi-million ounce White Gold Project acquired by Kinross Gold, and the Coffee project, which was sold to Goldcorp (now Newmont Corporation) for $520 million. His contributions to the industry have earned him numerous awards, including the Bill Dennis Award for prospecting from the Prospectors & Developers Association of Canada (PDAC). Shawn's work is seen as a major factor in modernizing exploration in the Yukon and drawing new attention to the territory's mineral potential.
Figure 4: Gold in Auger Soil Geochemistry from Shanghai Project, Yukon Territory, Canada.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7326/265810_08849d2834cbbb3d_005full.jpg
Figure 5: Silver in Auger Soil Geochemistry from Shanghai Project, Yukon Territory, Canada.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7326/265810_08849d2834cbbb3d_006full.jpg
Figure 6: Site Visit to Shanghai Project. Photo looking south to AurMac Deposit.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7326/265810_08849d2834cbbb3d_007full.jpg
About the Historic Shanghai Mine
The Shanghai mine is hosted by the Keno Hill Quartzite immediately below the regionally extensive Robert Service Thrust fault. It lies on the northern limb of the McQuesten Antiform, presenting a mirror image of the Keno Hill camp found on the southern limb of this antiform.
During the 1960's the Shanghai Mine was explored by Silver Titan Mines Ltd with close to 800 m of underground development. Assays reported from underground workings that followed veins included 9.1 m @ 1182.8 g/t Ag, 8.2% Pb and 7.2% Zn (average width of 1.5 m) (Yukon Minfile 105M 028).
About the Tombstone Gold Belt
The Tombstone Gold Belt, a component of the larger Tintina Gold Province, is a highly prospective metallogenic province in the Yukon, with a range of well-known and emerging gold discoveries. The belt is characterized by a suite of mid-Cretaceous, reduced, felsic intrusions known as the Tombstone Plutonic Suite. These intrusive bodies and the surrounding host rocks have created conditions for the formation of numerous Intrusion-Related Gold Systems (IRGS). Exploration efforts have identified multiple mineralized corridors with gold hosted in sheeted quartz veins and disseminated mineralization within both the intrusive bodies and the hornfelsed country rocks.
Gold mineralization in the Tombstone Gold Belt is typically associated with a distinctive multi-element signature that includes bismuth, tellurium, and tungsten, along with arsenic and antimony. Gold-bearing fluids exsolved from cooling intrusions and preferentially deposited gold in brittle, structurally controlled environments. Both high-grade, structurally-controlled vein systems and lower-grade, bulk-tonnage deposits are known. The region hosts numerous significant deposits and is the site of recent discoveries by companies such as Snowline Gold Corp., Banyan Gold Corp. and Sitka Gold Corp.
Table 1: Gold Deposits in the Tombstone Gold Belt with NI43-101 References
Project | EFFECTIVE DATE | Author | Report For | Tonnes (M) | Au (g/t) | Contained Gold | Status |
Brewery Creek | 18/01/2022 | Cook. C. et al., 2022. | Sabre Gold Mines Corp | 34.5 | 1.03 | 1.142 M oz | Measured & Indicated |
36.0 | 0.88 | 1.018 M oz | Inferred | ||||
Report Title: Preliminary Economic Assessment. NI 43-101 Technical Report on the Brewery Creek Project Yukon Territory, Canada | |||||||
Eagle (Dublin Gulch) | 31/12/2022 | Harvey, N., 2022 | Victoria Gold Corp | 233.2 | 0.57 | 4.303 M oz | Measured & Indicated |
36.2 | 0.62 | 0.724 M oz | Inferred | ||||
Report Title: Technical Report. Eagle Gold Mine. Yukon Territory, Canada | |||||||
Olive (Dublin Gulch) | 31/12/2022 | Harvey, N., 2022 | Victoria Gold Corp | 11.6 | 0.97 | 0.361 M oz | Measured & Indicated |
5.5 | 1.17 | 206,479 | Inferred | ||||
Report Title: Technical Report. Eagle Gold Mine. Yukon Territory, Canada | |||||||
Raven (Dublin Gulch) | 15/09/2022 | Jutras, M., 2022. | Victoria Gold Corp | 19.9 | 1.67 | 1.071 M oz | Inferred |
Report Title: Technical Report On The Raven Mineral Deposit, Mayo Mining District Yukon Territory, Canada | |||||||
Blackjack (RC Gold) | 21/01/2025 | Simpson. R., 2025 | Sitka Gold Corp | 39.9 | 1.01 | 1.298 M oz | Indicated |
34.6 | 0.94 | 1.045 M oz | Inferred | ||||
Report Title: Clear Creek Property, RC Gold Project NI 43-101 Technical Report Dawson Mining District, Yukon Territory | |||||||
Eiger (RC Gold) | 19/01/2023 | Simpson. R., 2025 | Sitka Gold Corp | 27.4 | 0.5 | 0.440 M oz | Inferred |
Report Title: Clear Creek Property, RC Gold Project. NI 43-101 Technical Report. Dawson Mining District, Yukon Territory | |||||||
Airstrip (AurMac) | 28/06/2025 | Jutras, M., 2025 | Banyan Gold Corp | 27.7 | 0.69 | 0.614 M oz | Indicated |
10.1 | 0.75 | 0.244 M oz | Inferred | ||||
Report Title: Technical Report, Aurmac Property, Yukon Territory, Canada | |||||||
Powerline (AurMac) | 28/06/2025 | Jutras, M., 2025 | Banyan Gold Corp | 84.8 | 0.61 | 1.663 M oz | Indicated |
270.4 | 0.60 | 5.216 M oz | Inferred | ||||
Report Title: Technical Report, Aurmac Property, Yukon Territory, Canada | |||||||
Florin | 6/04/2025 | Simpson. R., 2021 | St. James Gold Corp. | 170.9 | 0.45 | 2.474 M oz | Inferred |
Report Title: Florin Gold Project. NI 43-101 Technical Report. Mayo and Dawson Mining Districts, Yukon Territory | |||||||
Valley (Rouge) | 15/05/2025 | Burrell. H. et al., 2024 | Snowline Gold Corp | 75.8 | 1.66 | 4,047 M oz | Indicated |
81.0 | 1.25 | 3.256 M oz | Inferred | ||||
Report Title: Rogue Project. NI 43-101 Technical Report and Mineral Resource Estimate. Yukon Territory, Canada |
Disclaimers
The qualified person (as defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects) for the Company's projects, Mr. Mark Saxon, the Company's Chief Executive Officer, a Fellow of the Australasian Institute of Mining and Metallurgy and a Member of the Australian Institute of Geoscientists, has reviewed and approved the contents of this release.
Readers are cautioned that the discussion about adjacent or similar properties in this press release is not necessarily indicative of the mineralization or potential of the Shanghai property. The Company has no interest in or right to acquire any interest in any such adjacent properties.
About T2 Metals Corp (TSXV: TWO) (OTCQB: TWOSF) (WKN: A2DR6E)
T2 Metals Corp is an emerging copper and precious metal company enhancing shareholder value through exploration and discovery. T2 is focused on the Sherridon Project in Manitoba, the Shanghai Project in the Yukon, and the Cora Project in Arizona.
ON BEHALF OF THE BOARD,
"Mark Saxon" Mark Saxon President & CEO | For further information, please contact: t2metals.com 1 (604) 685-93161305 - 1090 West Georgia St., Vancouver, BC, V6E 3V7 info@t2metals.com |
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
Certain information set out in this news release constitutes forward-looking information. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "intend", "could", "might", "should", "believe" and similar expressions. Forward-looking information in this press release include statements regarding the potential exercise of the Option and obtaining regulatory approval for the Option, and future exploration plans for the Company on the Shanghai project. Forward-looking statements are based upon the opinions and expectations of management of the Company as at the effective date of such statements and, in certain cases, information provided or disseminated by third parties. Although the Company believes that the expectations reflected in forward-looking statements are based upon reasonable assumptions, and that information obtained from third party sources is reliable, they can give no assurance that those expectations will prove to have been correct. Readers are cautioned not to place undue reliance on forward-looking statements.
These forward-looking statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. Such risks include uncertainties relating to exploration activities; risks in obtaining regulatory approval; the impact of exploration competition; unexpected geological conditions; changes in government regulations and policies, including trade laws and policies; failure to obtain necessary permits and approvals from government authorities; volatility and sensitivity to market prices; volatility and sensitivity to capital market fluctuations; the ability to raise funds through private or public equity financings; environmental and safety risks including increased regulatory burdens; weather and other natural phenomena; and other exploration, development, operating, financial market risks. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof or the dates specifically referenced in this press release, where applicable. The Company does not undertake to update any forward-looking statements, except as may be required by applicable securities laws.
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09 September
ACG Metals Announces Commencement of Trading on the OTCQX Best Market
ACG is pleased to announce that its ordinary shares have today qualified and will begin trading on the OTCQX Best Market, under the OTCQX ticker code "ACGAF". ACG's shares will also continue to trade on the London Stock Exchange.
The OTCQX Best Market, operated by OTC Markets Group, is the highest tier of the U.S. OTC markets and is designed for established, investor-focused companies that meet high financial and governance standards.
This milestone represents a significant step in ACG's strategy to broaden its international shareholder base and enhance visibility among U.S. institutional and retail investors.
Representatives of the Company, including Chairman and CEO Artem Volynets, will participate in a ceremonial "ringing of the bell" at the OTC Markets office of the NYSE later today.
Artem Volynets (Chairman and CEO) and Patrick Henze (CFO) will provide a live presentation on the H1 2025 Financial Results and OTCQX listing via Investor Meet Company on 16 September 2025 at 13:00 BST.
Investors can register here.
Artem Volynets, Chairman and Chief Executive Officer of ACG, said:
"We are thrilled to begin trading on the OTCQX Best Market, a natural next step as we broaden our global investor outreach and look to enhance liquidity in our shares.
Trading in New York provides U.S. investors, including retail investors, with greater access to ACG at a time when, despite accelerating global demand for copper, opportunities to gain exposure to emerging copper producers remain limited in the U.S.
With the expansion of the Gediktepe mine advancing on schedule and a clear pipeline of copper-focused growth, we are building strong momentum and look forward to engaging with investors on both sides of the Atlantic as we continue to execute our growth strategy to deliver long-term, sustainable value for our shareholders."
Michael R. Pompeo, Non-Executive Director at ACG, said:
"Graduating to the OTCQX Best Market is an important milestone for ACG, and vital for American investors seeking exposure to an emerging copper miner at a time when such opportunities are still scarce. Copper is absolutely central to the energy transition, and ensuring continued Western access to critical metals has never been more important.
I look forward to contributing to ACG's story as it grows its U.S. presence and builds scale and value for shareholders."
The person responsible for the release of this information on behalf of the Company is Artem Volynets, Chief Executive Officer.
For further information please contact:
Palatine
Communications Advisor
Conal Walsh / James Gilheany/ Kelsey Traynor/ Richard Seed
Berenberg
Research Analysts
William Dalby +44 (0) 20 3753 3243
Richard Hatch +44 (0) 20 3753 3070
Cody Hayden +44 (0) 20 3753 3133
Joint Broker
Jennifer Lee
+44 (0) 20 3207 7800
Canaccord
Research Analysts
Tim Huff +44 (0) 20 7523 8374
Alex Bedwany +44 (0) 20 7523 8387
Joint Broker
James Asensio / Charlie Hammond
+ 44 (0) 20 7523 80
Cantor Fitzgerald
Research Analysts
Puneet Singh +1 (416) 350-8153
Stifel
Research Analysts
Andrew Breichmanas +44 (0) 20 3465 1110
Joint Broker
Ashton Clanfield / Varun Talwar
+44 (0) 20 7710 7600
About the Company
ACG Metals is a company with a vision to consolidate the copper industry through a series of roll-up acquisitions, with best-in-class ESG and carbon footprint characteristics.
In September 2024, ACG successfully completed the acquisition of the Gediktepe Mine which is expected to transition to primary copper and zinc production from 2026 and will target annual steady-state copper equivalent production of 20-25 kt. Gediktepe produced 55koz of AuEq in 2024.
ACG's team has extensive M&A experience built through decades spent at blue-chip multinationals in the sector. The team brings a significant network as well as a commitment to ESG principles and strong corporate governance.
For more information about ACG, please visit: www.acgmetals.com
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09 September
Anglo American and Teck to Merge, Forming US$53 Billion Global Copper Powerhouse
Anglo American (LSE:AAL,OTCQX:AAUKF) and Teck Resources (TSX:TECK.A,TSX:TECK.B,NYSE:TECK) have agreed to merge in a blockbuster US$53 billion deal that will create one of the world’s largest copper producers.
Under the terms of the all-share merger, announced on Tuesday (September 9), Anglo American shareholders will hold 62.4 percent of the combined company, while Teck investors will own 37.6 percent.
The new entity, tentatively named Anglo Teck, will be headquartered in Vancouver and will have its primary listing on the London Stock Exchange, with secondary listings in Johannesburg, New York and Vancouver.
Copper, which is vital for power grids, electric vehicles and increasingly energy-hungry data centers, has become the focus of a global scramble for supply, driving consolidation among major players within the industry.
“We are all committed to preserving and building on the proud heritage of both companies, both in Canada, as Anglo Teck’s natural headquarters, and in South Africa where our commitment to investment and national priorities endure,” said Anglo American CEO Duncan Wanblad in the company's press release. Wanblad will lead the combined group from Canada, while Teck CEO Jonathan Price will serve as the deputy chief executive of Anglo Teck.
Copper is projected to account for more than 70 percent of the merged company’s earnings by 2027.
Both companies have recently fended off prior takeover attempts.
Last year, Anglo American rejected a US$38.8 billion bid from Australian giant BHP (ASX:BHP,NYSE:BHP,LSE:BHP), while Teck turned down a US$22.5 billion offer from Glencore (LSE:GLEN,OTC Pink:GLCNF) in 2023.
Analysts have described the deal as a signal of Anglo American’s shift from takeover target to aggressive consolidator.
“Anglo American has turned from prey to predator,” said Russ Mould, investment director at AJ Bell.
“The deal to buy Teck Resources, if it completes, means Anglo has not only pulled itself out of a hole, but also sends a message to mining peers that it is not a pushover.”
While the merger is structured as a zero-premium deal, Anglo plans to distribute a US$4.5 billion special dividend to shareholders before the completion of the transaction.
The consolidation is expected to generate significant cost savings. Anglo Teck has projected US$800 million in annual savings within four years, with roughly US$60 million targeted from executive and head office rationalization.
While the companies have pledged “no net reduction in the number of employees” in Canada, market watchers anticipate potential job losses at Anglo’s London office as the headquarters shift to Vancouver.
Canadian officials have already commented on the transaction, with Mélanie Joly, minister of innovation, science and industry, saying it will be reviewed to ensure it represents a "net benefit" to Canada.
Investors reacted positively to the announcement. Anglo’s shares climbed more than 10 percent following the news, lifting its market cap to US$39.5 billion, while Teck’s US-listed shares gained over 10.4 percent in pre-market trading.
Beyond copper, London-based Anglo American has been actively restructuring its portfolio.
The company has sold or demerged non-core assets to focus on copper and iron ore, including the demerger of its platinum business in May and the pending sale of its nickel and steelmaking coal operations.
Anglo is also exploring options for its De Beers diamond unit, either through a potential sale or a separate listing.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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