Anax Metals (ASX: ANX) is launching a high-impact 18-hole diamond drilling campaign at its Whim Creek Project, aiming to extend the Mons Cupri VHMS deposit and uncover new mineralisation with modern techniques.
- 18-hole, 5,000m Phase 1 diamond drilling starts mid-July 2026
- Targets extensions of Mons Cupri deposit and new VHMS discoveries
- Program led by newly appointed director and geologist Nick Jolly
- Modern Down-hole Electromagnetics (DHEM) to guide drilling
- Strong funding position following recent capital raises
Ambitious Drilling Campaign Targets Untested Depths at Mons Cupri
Anax Metals (ASX:ANX) is set to kick off a significant exploration push at its Whim Creek Copper-Zinc Project in Western Australia's Pilbara region, commencing an 18-hole, 5,000-metre diamond drilling program in mid-July 2026. The campaign focuses on extending the Mons Cupri Volcanic-hosted Massive Sulphide (VHMS) deposit, where historical drilling has left the primary sulphide horizon largely untested at depth.
With over half of Anax’s Ore Reserves tied to Mons Cupri; 2.55 million tonnes grading 1.09% copper and 1.29% zinc; the stakes are high. Previous drilling has delivered impressive intercepts such as 80 metres at 1.95% copper from 78 metres depth, underscoring the deposit’s potential scale and grade. Yet, the deposit’s deeper extensions and surrounding corridors remain underexplored, with limited Down-hole Electromagnetics (DHEM) surveys historically conducted.
Strategic Leadership and Modern Techniques Drive Exploration
Guiding this phase is newly appointed director Nick Jolly, a geologist and mining executive with 25 years’ experience in exploration strategy and resource growth. Anax has also engaged Newexco Exploration Services, led by Nicholas Ebner, to review historical geophysical data and deploy advanced electromagnetic techniques during drilling. DHEM surveys will be conducted on drill holes in real time, allowing dynamic targeting adjustments to maximise discovery potential.
Managing Director Geoff Laing emphasised the significance of this program as a pivot from previous operational constraints, stating, "Whim Creek is a proven VHMS camp with exceptional exploration upside, but our ability to systematically explore the project has been constrained in recent years by the Company's focus on a restart of mining activities." He highlighted the company’s strong balance sheet and the program’s role as the first step in a sustained exploration campaign aimed at resource growth and new discoveries.
Well-Funded Exploration Backed by Recent Capital Raises
The timing of this drilling coincides with Anax’s bolstered financial position following a series of capital raises earlier in 2026, including a $6 million placement in June. These funds underpin the Phase 1 program and support parallel efforts in project financing and offtake negotiations, critical components as the company advances Whim Creek toward development.
Drilling contractor TopDrill is scheduled to commence operations shortly, with site earthworks and permitting now complete. The Whim Creek Project benefits from existing infrastructure and is the only fully permitted base metals project in the Western Pilbara capable of processing both oxide and sulphide ores.
Exploration Potential Beyond Mons Cupri
While the immediate focus is on Mons Cupri, Anax’s broader Whim Creek tenure hosts multiple VHMS deposits including Whim Creek, Evelyn, and Salt Creek. The company believes systematic exploration using modern geological modelling and geophysical techniques could unlock further resources and discoveries across this underexplored camp.
Historical drilling data, some dating back to the 1970s and primarily conducted by previous operators, has been integrated into Anax’s geological models, but gaps remain; particularly in deeper zones and in the corridor between Mons Cupri’s main lens and its north-west extension, which has only seen shallow drilling to date.
The upcoming program also includes a comprehensive review of geophysical datasets and geochemical analyses, laying the groundwork for updated Mineral Resource Estimates and future targeting.
Bottom Line?
Anax Metals’ mid-July drilling launch at Whim Creek marks a critical juncture in unlocking deeper, underexplored VHMS mineralisation with modern geophysical techniques, backed by solid funding and strategic leadership.
Questions in the middle?
- Will the Phase 1 drilling confirm significant extensions to the Mons Cupri orebody?
- How might modern DHEM surveys reshape the understanding of Whim Creek’s VHMS systems?
- What impact will drilling results have on ongoing project financing and offtake negotiations?