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- Anax Metals (ANX) has announced more strong results from its Whim Creek Copper-Zinc Project in WA’s Pilbara region, leading to a share price jump
- The materials stock carried out metallurgical diamond drilling at the site back in November last year, finding near-surface, massive sulphide mineralisation
- These results confirm the find, with best intersections of 18 metres at 5.2 per cent zinc, 2.48 per cent copper and 1.53 per cent lead from 60 metres, including o.3 metres at 10.34 per cent zinc, 3.15 per cent lead and 2.55 per cent copper
- Drill result testing wasn’t able to detect the gold and silver elements at the project, but Anax believe the site is prospective for both
- Shares in ANX have doubled since the announcement today, up 113 per cent in early trade to trade at 10 cents each
Anax Metals (ANX) has seen its share price double after announcing more strong results from its Whim Creek Copper-Zinc Project in WA’s Pilbara region.
The materials stock carried out a metallurgical diamond drilling campaign at the site back in November last year, finding near-surface massive to semi-massive sulphide and stringer mineralisation.
Results from the program have confirmed the find, with multiple zones of near-surface high-grade mineralisation — some tens of metres in thickness — intersected.
Best results include 18 metres at 5.2 per cent zinc, 2.48 per cent copper and 1.53 per cent lead from 60 metres, including o.3 metres at 10.34 per cent zinc, 3.15 per cent lead and 2.55 per cent copper.
Additionally, Anax believes Whim Creek is prospective for gold and silver after bulk composites prepared for ore sorting test work return gold grades of up to 2.08g/t and silver grades of up to 89g/t.
The testing undertaken of the diamond drilling program’s results isn’t designed to detect gold and silver, so the company is now awaiting results from separate ore testing.
Those results are expected later this month, while ANX advises that its feasibility studies for Whim Creek are progressing well.
Meanwhile, shares in the company have skyrocketed since Friday morning’s announcement, trading up over 100 per cent within the first hour of trade.
ANX is up 113 per cent, trading for 10 cents each at 10:58 am AEDT.
