Anax Metals on the hunt for high-grade Pilbara copper to feed processing hub

Anax Metals to commence diamond drilling at Evelyn deposit at Whim Creek
Company looking for high-grade copper to feed planned production hub
Previous drilling returned 13m at 4.46% copper at Evelyn

Special Report: Anax Metals has mobilised a diamond drill rig to the Whim Creek project in WA, targeting high-grade copper mineralisation at the Evelyn deposit.

Anax Metals (ASX:ANX) plans to develop Whim Creek as a copper processing hub in the Pilbara, with a new 400,000tpa concentrator and a refurbished heap leach facility capable of treating oxide, transitional and supergene ore.

And the Evelyn deposit could feed into those plans. In mid-2022, the company drilled two RC holes at Evelyn, with the initial hole abandoned due to excessive deviation.

Despite also experiencing substantial deviation, the second hole (22AER005B) intersected 13m at 4.46% copper, 3.10% zinc, 45 g/t silver and 1.61 g/t gold from 204m.

The company now plans for up to 1,700m of extensional and resource drilling at Evelyn to test for down-plunge extensions and increased drill density, partly funded by last month’s $3m cap raise.

A copper production hub

The company continues to position itself as the key player for consolidation of Pilbara copper assets through the development of the copper processing hub at Whim Creek with GreenTech Metals’ (ASX:GRE).

The planned Pilbara Base Metal Alliance between the two companies targets more than 20,000tpa of copper equivalent production.

The primary purpose of the Evelyn drilling will be to test for down-plunge extensions of high-grade copper below 22AER005B with a further two holes planned to increase drill density in the vicinity – which may allow for conversion from Inferred to Indicated Resources.

“We continue to focus on project growth through the planned extension drilling at our high-grade Evelyn deposit in parallel to the Pilbara consolidation program,” ANX managing director Geoff Laing said.

“Our strategy remains to position Anax to become a significant copper producer and key player in consolidating base metal production in the Pilbara.”

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.