Anax Metals (ASX:ANX) has intersected ‘high-grade’ copper equivalent mineralisation from infill drilling at the Mons Cupri deposit within its Whim Creek Copper-Zinc Project in Western Australia.
Key intercepts from diamond drilling include 85.9m @ 2.89% copper equivalent (CuEq) from 34.6m, including 4.7m @ 8.34% CuEq from 34.6m and 17.5m @ 8.37% CuEq from 39.3m; and 62.54m @ 2.95% CuEq from 107.32m, including 5.04m @ 5.46% CuEq from 107.32m and 18.98m @ 6.01% CuEq from 112.36m.
Managing Director Geoff Laing describes the results as ‘outstanding’, noting that they confirm near-surface mineralisation is a ‘defining feature’ of Mons Cupri.
“Importantly, this is the material scheduled to be mined in the early stages of the restart plan, which underpins strong early cash flow,” Laing says.
The results form part of a 5,000m drilling program at Mons Cupri, located 120km southwest of Port Hedland. As of mid-September, Anax has completed 10 holes totalling 2,736.3m.
Anax says a downhole electromagnetic crew is mobilising to site late this month to conduct surveys on available holes. Drilling will also continue through the December quarter to target induced polarisation anomalies.
The company is also advancing project funding and front-end engineering design workstreams towards a final investment decision for Whim Creek.
Meanwhile, a broad project-wide target evaluation is underway using Aster and WorldView-3 high-resolution satellite imagery.
In August, Anax reported a 24% increase in the Mons Cupri mineral resource estimate to 6.32 million tonnes at 1.38% CuEq.
Anax Metals is an explorer and developer focused on copper, zinc, and gold projects in WA. The company owns 80% of Whim Creek, with Develop Global (ASX:DVP) holding 20%.
Write to Paula Fabe at Mining.com.au
Main image: Anax Metals
