Exploration Update on Evelyn Deposit at Whim Creek Project

Anax Metals Limited (ASX:ANX) has announced the identification of multiple high-potential Volcanogenic Massive Sulphide (VMS) targets at the Evelyn Mining Lease, forming part of the Whim Creek Project. The evaluation of historical exploration has revealed extensive drill targets and prospective areas within the mining lease, indicating significant potential for resource expansion. The high-grade Evelyn base metal deposit, centrally located within the granted Mining Lease, has shown promising results, with approximately 70% of the highly prospective stratigraphy remaining largely untested by effective drilling. The company's Managing Director, Geoff Laing, expressed optimism about the prospectivity of the area and outlined plans for a more aggressive discovery strategy going forward.

Executive Commentary on Exploration Findings

Anax's Managing Director, Geoff Laing, commented, 'Evelyn is a rich, high-value base metal deposit, and the discovery of any further ore positions within the granted Mining Lease would add considerably to the overall economics of the broader Whim Creek Project. The exploration team have done well to advance the prospectivity of the area, and we look forward to executing a more aggressive discovery strategy going forward.'

Exploration Summary and Outlook

The exploration update by Anax Metals has unveiled the identification of high-potential VMS targets at the Evelyn Mining Lease, presenting significant opportunities for resource expansion. The company's focus on utilizing various surface, auger, and litho-geochemical techniques to identify further drill targets within the prospective event-horizon stratigraphy demonstrates a proactive approach to exploration. With plans for RC drilling to test existing VTEM and FLEM conductivity, Anax Metals aims to capitalize on the extensive prospectivity of the area. The identification of additional ore positions within the granted Mining Lease could substantially enhance the economic value of the broader Whim Creek Project. The company's commitment to executing a more aggressive discovery strategy reflects its determination to leverage the full potential of the Evelyn deposit and underscores its dedication to advancing its exploration initiatives.