Anax teams up with Artemis for Pilbara copper processing hub

ANX and ARV sign MoU to potentially treat Carlow Castle ore at Whim Creek
ANX owns 80% of the project with DVP owning the remainder
MoU to also investigate ARV exploring for gold on ANX tenure

Special Report: Anax Metals and Artemis Resources have signed an MoU to collaborate on a copper-focused Pilbara alliance – with some gold exploration thrown in for good measure.

It’s a substantial step in Anax Metals’ (ASX:ANX) plans at Whim Creek to develop a copper and base metals hub in WA’s Pilbara region, with the proposed project (80% owned by ANX and 20% owned by Develop Global (ASX:DVP)) to consist of a new 400,000 tonnes per annum concentrator, and a refurbished heap leach facility capable of treating oxide, transitional and supergene ore supported by robust project economics.

The idea is that by fully utilising its processing capacity, the Whim Creek hub could become a substantial Australian copper producer.

This MoU will assess the potential to treat Carlow Castle (64,000t copper inferred mineral resource estimate) and other suitable Artemis Resources (ASX:ARV) copper assets at the Whim Creek processing hub.

As part of this deal, the parties will also assess the potential for Artemis to explore for gold mineralisation on the Anax project tenure.

Pilbara alliance and processing hub gathers steam

The Pilbara alliance and processing hub continues to gather momentum with Carlow Castle to be assessed in addition to DVP’s Sulphur Springs oxide and GreenTech Metals’ (ASX:GRE) Whundo project as potential satellite ore sources.

“We are extremely pleased to be working with Artemis on potential copper/gold production via the planned Whim Creek hub and to advance gold exploration opportunities at the project,” Anax managing director Geoff Laing said.

“Our region is prolific with copper and gold potential, and we look forward to applying the key strengths of our respective teams to delivering positive outcomes via the production hub and an expanded gold exploration initiative at Whim Creek.”

Pic: Location of the Whim Creek and Carlow Castle projects. Source: ANX.

Now, the Whim Creek processing assets could provide a near-term processing option for Artemis’ open pittable Carlow Castle deposit.

“We are thrilled to collaborate with Anax Metals on the Pilbara copper alliance via this MoU and expand our own potential for gold exploration,” Artemis executive director George Ventouras said.

“The West Pilbara region of Western Australia is an exciting jurisdiction to be operating in and this initiative allows each company to focus on its strengths and to deliver results for all stakeholders.”

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.