- Anax Metals (ANX) has attained a Mineral Resource for its Whim Creek Project in Western Australia which includes a 37 per cent increase in copper tonnage
- The update was based on a database audit, historical data and the results of a diamond drill hole completed by the explorer last year
- The project’s new global copper resource clocked in at 8.25 million tonnes at 1.03 per cent copper at a 0.4 per cent cut-off while the zinc resource totalled 1.28 million tonnes at 3.63 per cent at a two per cent zinc cut off
- Broadly, Anax affirms achieving a JORC-compliant Indicated and Inferred Mineral Resource represents a solid step for the Whim Creek Project’s development
- Anax Metals shares are up 2.27 per cent following the announcement, trading at 11.3 cents per share
Anax Metals (ANX) has attained a Mineral Resource for its Whim Creek Project in Western Australia which includes a 37 per cent increase in copper tonnage.
A Mineral Resource was established for the project — of which fellow ASX-lister Venturex (VXR) holds a 20 per cent stake — based on a database audit, historical data and the results of a diamond drill hole completed by Anax in late 2020.
As a result, ANX has managed to establish a JORC2012-compliant Indicated and Inferred Mineral Resource, with over 70 per cent falling within the indicated category.
The project’s new global copper resource clocked in at 8.25 million tonnes at 1.03 per cent copper at a 0.4 per cent cut-off while the zinc resource totalled 1.28 million tonnes at 3.63 per cent at a two per cent zinc cut off.
Further to this, the Whim Creek deposit’s copper resource 2.41 million tonnes at 0.95 per cent copper also at a 0.40 per cent cut off and a zinc resource 0.17 million tonnes at 3.00 per cent zinc.
Broadly, the explorer affirms this represents another significant step at the Whim Creek Project’s development pathway and has helped contribute to an updated global mineral resource.
Anax Metals shares are up 2.27 per cent following the announcement, trading at 11.3 cents per share at 11:16 am AEST.