Anax Metals hits massive sulphide sweet spot at Evelyn

Disseminated, stringer and massive sulphides have been intersected during drilling over a 13.5m thick zone at Anax’s Whim Creek asset
Continuous XRF scanning of core will begin shortly, followed by lab assays
Ongoing drilling is targeting down-plunge extensions of high-grade shoot

Special Report: Diamond drilling at Anax Metals’ Evelyn deposit has continued to hit massive sulphide mineralisation with XRF scanning to begin shortly, followed by laboratory assays.

Anax Metals (ASX:ANX) has big plans to develop its wider Whim Creek asset in WA’s Pilbara into a copper-processing hub with the Evelyn deposit earmarked to feed into those plans.

Whim Creek 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.

In 2022, one of two drillholes intersected 13m at 4.46% copper, 3.10% zinc, 45 g/t silver and 1.61 g/t gold, providing ANX with the confidence to test for down-plunge extensions.

Zones up to 13.5m thick

That testing is now underway in the form of a 1,700m diamond drilling campaign at the Evelyn deposit.

Processing of the first two holes have been completed and both have intersected zones of disseminated, stringer and massive sulphides consisting of chalcopyrite (copper), sphalerite (zinc), galena (lead), pyrite and pyrrhotite up to 13.5m thick.

The best visual intersection from the drilling program to date is from hole 24AED002A, which encountered a strongly mineralised zone between 176.45 and 189.9m.

Hole 24AED001 was designed to intersect the high-grade shoot below previous drill hole JER074, but deviated in a southerly direction from its planned intersection position and clipped the base of the shoot.

That resulted in the 1.9m intersection of disseminated and massive sulphides from 190.85 to 192.7m consisting primarily of chalcopyrite and pyrrhotite.

Massive sulphide mineralisation in 24AED002A. Pic: Anax Metals

Doubling down on Whim Creek growth outcomes

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

“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.”

What’s coming up?

Drilling is ongoing, targeting down-plunge extensions below 22AER005B.

Core from the first two holes have been dispatched to Perth and will undergo continuous XRF scanning, geotechnical logging followed by geochemical assays.

Laboratory assay results are expected to be finalised in September and will be reported once received.

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.