| Announcement Date: | 2022-10-04 |
|---|---|
| Announcement Type: | Drilling Results |
| Announcement Code: | JORC |
| Company name: | Anax Metals Ltd. |
| Project name: | Whim Creek |
| Location: | Australia |
| Commodities: | Gold,Silver,Copper,Zinc |
| Highlight: | Drilling results incl. 13m at 4.46% Cu, 3.1% Zn, 45g/t Ag, 1.61g/t Au from 204m |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | Anax Metals Limited (ASX: ANX, Anax, or the Company) is pleased to announce the first assay results from its recently completed reverse circulation (RC) drilling programme at the Whim Creek Project (Project), located 115 kilometres southwest of Port Hedland, in the West Pilbara region of Western Australia. As previously reported, extensional drilling intersected massive sulphides at the Evelyn Deposit (Evelyn) 1 and Anax requested that the Evelyn samples be given the highest priority by the laboratory. The remaining samples from the 2022 exploration drilling campaign are currently being analysed and will be reported once received and processed. The Whim Creek Project is 80% owned by Anax with the remaining 20% owned by Develop Global Limited (ASX: DVP, Develop). Evelyn is located 25km south of the proposed Whim Creek processing facility on the Croydon-Whim Creek Road (Figure 1). Anax was limited to completing two holes at Evelyn under a previously granted Plan of Works (POW). The Company was unable to secure approval to drill additional holes at Evelyn due to significant backlogs experienced at the time by the relevant government department in processing POWs. The initial hole (22AER005A) was terminated early after excessive deviation meant it was unlikely to intersect the target zone. The next RC drill hole (22AER005B) was successfully completed at Evelyn to a depth of 232 metres, intersecting massive sulphide in the modelled target zone. |
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