Anax Applies for 207km2 Tenement Adjacent to De Grey’s 0.6Moz Toweranna Deposit

Strategic Expansion in a Proven Mining Hub

Anax Metals Limited (ASX: ANX) has taken a decisive step to bolster its exploration portfolio by applying for a new exploration license, E47/5275, spanning approximately 207 square kilometres in the Pilbara region of Western Australia. This application notably expands Anax’s presence in the highly prospective Whim Creek greenstone belt and the underexplored Mallina basin.

The new tenement application is strategically positioned adjacent to Anax’s existing 80% held Whim Creek Joint Venture tenements, promising a contiguous land package that enhances the company’s ability to explore and potentially develop mineral resources in the region.

Proximity to Established Gold and Base Metal Deposits

One of the most compelling aspects of this application is its proximity to De Grey Mining Limited’s Toweranna deposit, which hosts an estimated 0.6 million ounces of gold. The southeastern corner of Anax’s proposed tenement lies less than one kilometre along strike from Toweranna, placing Anax in a prime position to explore extensions or parallel mineralisation trends.

In addition, the Whim Creek greenstone belt is renowned for hosting Volcanogenic Massive Sulphide (VMS) deposits, including the Whim Creek, Salt Creek, and Mons Cupri deposits, which are significant sources of base metals. The inclusion of approximately 32 square kilometres of the Mallina basin within the tenement adds further exploration upside, given its relative underexploration and proximity to known gold prospects such as Geemas.

Management’s Optimism and Next Steps

Geoff Laing, Managing Director of Anax Metals, expressed enthusiasm about the new tenement, highlighting its complementarity to the existing Whim Creek package and the substantial exploration potential it offers. The company has already commenced a desktop review and data compilation to identify priority targets ahead of the tenement grant.

While the granting process is expected to take several months, Anax’s proactive approach to compiling publicly available data and planning work programs signals a readiness to accelerate exploration activities once approval is secured.

Implications for Anax and the Pilbara Region

This expansion reflects Anax Metals’ strategic intent to deepen its foothold in a region that continues to attract significant investment and exploration interest. The Pilbara’s rich endowment of gold and base metals, combined with Anax’s growing land position, could position the company to unlock new discoveries that enhance shareholder value.

However, as with all exploration ventures, the outcomes remain uncertain until drilling and further fieldwork can validate the geological potential suggested by proximity and regional data.