Anax Metals (ASX:ANX) is drilling four follow-up holes at the Mons Cupri deposit to define a potential new zinc-lead-silver lens in Western Australia.
Hole 26ANXDD007 intersected 16.52m @ 1.06% copper equivalent (CuEq) from 257.5m, grading 2.68% zinc, 1.21% lead, and 32.9 grams per tonne silver.
The zone includes 10m @ 1.31% CuEq, and the mineralisation lies south-west of Mons Cupri NW, outside the classified mineral resource.
Meanwhile, hole 26ANXDD009 returned 7m @ 1.32% CuEq from 153m. Assays are pending for 167–280m, which projects towards the 26ANXDD007 zone.
A third hole, 26ANXDD005A, returned 9m @ 0.57% CuEq, with lower lead and silver grades suggesting it lies on the southern margin of the system.
The company interprets the higher-grade mineralisation as plunging shallowly at about 18° towards 245° over roughly 350m. Intercepts are downhole widths, and early drilling has not established continuity for resource estimation.
Downhole electromagnetic surveys failed to detect the subtle mineralisation. Anax has therefore commenced downhole magnetometric resistivity surveying to provide additional vectoring data.
Managing Director Geoff Laing says the discovery outside the current mineral resource on a largely untested plunge supports the company’s broader development plans at Whim Creek.
“Follow-up drilling is already underway, and every step forward builds the case for the Whim Creek restart,” Laing says.
Non-Executive Director Nick Jolly says the broad intercept at depth provides further evidence of the system’s potential.
“26ANXDD007 is the first proof point: 16.52m of zinc-lead-silver mineralisation in ground that’s barely been drilled,” Jolly adds.
Anax has completed 16 diamond holes for about 4,760m as at early November. The 2026 program is due to finish in early December, with 20 holes totalling about 6,200m. Results will determine the scope of work in 2027.
Mons Cupri forms part of the Whim Creek Copper-Zinc Project, 120km south-west of Port Hedland. Anax holds 80% and Develop Global (ASX:DVP) holds the remaining 20%.
Anax Metals is an Australian base metals developer focused on consolidating copper-zinc production in Western Australia’s Pilbara region.
Write to JC Villarba at Mining.com.au
Main image: Anax Metals
