Anax Metals Ltd (ASX: ANX) Announces New Tenement Application
New Tenement Application
Anax Metals Ltd (ASX: ANX) has submitted an application for exploration license E47/5275, covering approximately 207 square kilometres in the Pilbara region of Western Australia. This new tenement significantly expands Anax’s presence in the highly prospective Whim Creek greenstone belt and Mallina basin, enhancing its potential for gold and base metal discoveries.
The southeastern corner of the new tenement lies less than 1 kilometre from De Grey Mining Ltd’s Toweranna deposit, which boasts an estimated 0.6Moz of gold resources. The tenement includes a noteworthy 32 square kilometres of underexplored Mallina basin and substantial base metal prospectivity.
Executive Comments
Geoff Laing, Managing Director of Anax Metals, stated, “The addition of this high-quality exploration asset compliments our Whim Creek package and provides tremendous exploration potential in addition to the Whim Creek Joint Venture tenements. We are excited to commence work on the project and look forward to keeping shareholders updated on our progress.”
Next Steps
The granting of the new tenement is expected to take several months. During this time, Anax Metals will conduct a comprehensive review of publicly available data to identify priority areas for exploration and develop tailored work programs.
Motley Fool contributor Lianne Eastty has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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