Anax Metals Limited (ASX: ANX) has announced a significantly revised JORC 2012 Mineral Resource for the Salt Creek Deposit at the Whim Creek Copper-Zinc Project located 115km southwest of Port Hedland in the West Pilbara Region of Western Australia.
Highlights:
- Indicated Resources for Salt Creek have increased by over 80% and makes up 67% of the overall Mineral Resource. The remaining resources are in the Inferred category. The classification is supported by drilling density, geological continuity and confidence in the geological interpretation.
• Updated Salt Creek Resource Estimate:
- Copper Domain: 1.72 Mt @ 1.73% Cu (Cu ≥ 0.80%, Zn < 2.50%)
- Zinc Domain: 1.03 Mt @ 8.86% Zn, 2.70% Pb, 63 g/t Ag and 0.33 g/t Au (Zn ≥ 2.50%)
• 35,700 T contained Copper (up by 99%) and 95,000 T Contained Zinc (up by 22%)
• Indicated Resource Tonnes increased by over 80%
• Potential for future resource growth with main shoot open at depth
• Key DFS workstreams completed, results being compiled to be released in Q4 2022. Significant benefits delivered as a result of the “Anax technology integration strategy.”
• Works Approval and Mining Proposal expected to be granted later this quarter
“The significant increase in copper and zinc resources at Salt Creek demonstrates, once again, the fantastic opportunity this Pilbara project offers,” Managing Director, Geoff Laing, said.
“Salt Creek remains open at depth with significant exploration upside and we look forward to evaluating the underground and growth potential at this high grade deposit.”
The Mineral Resource at the Salt Creek Deposit represents another significant step in the Whim Creek Project’s development pathway and has contributed to an updated global Mineral Resource for the Whim Creek Project, which is 80% owned by Anax and 20% by Develop Global Limited.
The Mineral Resource was completed following a database audit, updated geological interpretations and updated methodology on the assignment of bulk densities. The Mineral Resource modelling and estimate was undertaken by independent resource consultancy, Trepanier Pty Ltd, and has produced a JORC2012 compliant Indicated and Inferred Mineral Resource.
Salt Creek remains open at depth with four previous drill holes intersecting mineralisation over a lateral distance of 250 metres. The best intersection of the four deep holes was from 16VSCD008 which returned 18.7m @ 2.42% Cu from 457.8m, including 7.6m @ 3.39% Cu from 468.9m.
For further information please visit: https://anaxmetals.com.au/
