Anax Metals drilling hits high-grade copper, zinc at Evelyn

Anax Metals’ XRF scanning has indicated that Evelyn drilling has intersected high-grade copper and zinc
Samples have been submitted to the laboratory for assaying
Regional exploration at Evelyn has started with plans for auger sampling and geophysics to be carried out

Special Report: Preliminary XRF scanning has indicated high-grade copper-zinc was intersected during drilling at the Evelyn deposit within Anax Metals’ Whim Creek project.

While XRF scanning is no replacement for laboratory analysis nor is it capable of accurately quantifying gold and silver grades, it is nonetheless valuable as a tool to guide exploration on the field without waiting for assay results.

As such, the ability of the scanning tool to return up to 8.48% copper and 6.89% zinc in one of the two holes scanned is indicative that Anax Metals (ASX:ANX) is on to something significant, particularly since all diamond holes intersected sulphide mineralisation.

Success here could also be of massive benefit to the company’s plans to develop Whim Creek in WA’s Pilbara region into a copper-processing hub.

The project itself already boasts attractive economics with a definitive feasibility study released in April 2023 outlining a base metals operation with an 8.5-year production life highly leveraged to the formidable copper price.

Samples from the drill program have now been submitted for laboratory analysis with results expected in September.

“We have redoubled our efforts to deliver leveraged growth outcomes at Whim Creek,” Anax managing director Geoff Laing said.

“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.”

Whim Creek itself has a reserve of 4.6Mt grading 1.36% copper and 2.3% zinc.

Massive sulphide mineralisation in 24AED002A. Pic: Anax Metals

Results to date

ANX noted that prior to the XRF scanning, the best visual intersection from the drill program was from hole 24AED002A, which encountered a strongly mineralised zone between 176.45m and 189.9m.

XRF scanning confirmed the high-grade nature of this intersection.

However, the company noted that Evelyn mineralisation typically contains significant gold and silver enrichment which the XRF scanner is unable to accurately quantify.

Meanwhile, hole 24AED001 – designed to intersect the high-grade shoot below the previous drill hole JER074 which intersected 13m at 2.56% copper, 4.98% zinc, 1.92g/t gold and 41g/t silver – deviated in a southerly direction from its planned intersection and clipped the base of the shoot.

With regional exploration at Evelyn also ongoing, ANX is also planning to carry out auger sampling and geophysics ahead of reverse circulation drilling of high priority targets.

This article was developed in collaboration with Anax Metals, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.