Anax Metals Intersects Potential New Zinc-Silver Lens at Mons Cupri Outside Existing Mineral Resource

Shwetambri Chauhan

11 November 2026 12:32 PM AEDT

Anax Metals Intersects Potential New Zinc-Silver Lens at Mons Cupri Outside Existing Mineral Resource

Image Source: Krish Capital Pty Ltd

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Anax Metals Limited (ASX:ANX) has reported assay results from seven diamond drill holes at the Mons Cupri Deposit within the Whim Creek Copper-Zinc Project in Western Australia, with hole 26ANXDD007 intersecting a broad zinc-lead-silver zone outside the classified Mineral Resource, outlining the framework of a potential new mineralised lens.

Key Points

Hole 26ANXDD007 returned 16.52m at 1.06% CuEq (2.68% Zn, 1.21% Pb, 32.9g/t Ag) from 257.50m, including 10.00m at 1.31% CuEq from 261.00m, outside the existing Mineral Resource
Hole 26ANXDD005A, approximately 100m to the south, returned 9.00m at 0.57% CuEq (2.31% Zn) from 289.50m, with lower lead and silver suggesting the southern margin of the system
A four-hole follow-up drilling programme is under way to define the initial geometry and grade of the potential new lens
The 2026 programme is scheduled to finish in early December 2026, with 20 holes for approximately 6,200m to be completed
Downhole magnetometric resistivity (MMR) surveying has commenced to provide additional vectoring data

Drill Results from 26ANXDD007 and Adjacent Holes

Hole 26ANXDD007 was drilled to 331.62m on the western side of Mons Cupri NW, intersecting a broad zone of zinc-lead-silver mineralisation hosted by altered felsic volcaniclastics of the Cistern Formation between 248.52m and 306.00m downhole. The zone returned two key intervals: 16.52m at 1.06% CuEq (2.68% Zn, 1.21% Pb, 32.9g/t Ag) from 257.50m and 10.29m at 0.83% CuEq (1.77% Zn, 38.3g/t Ag) from 284.01m. Sphalerite and galena occur in quartz crackle veins and as disseminations. Hole 26ANXDD005A, approximately 100m to the south, returned 9.00m at 0.57% CuEq (2.31% Zn) from 289.50m, including 2.00m at 0.79% CuEq (3.75% Zn).

Near-Surface High-Grade Results and Hole 26ANXDD009

Hole 26ANXDD009 intersected stacked copper-zinc-silver zones between 19m and 166m downhole, including 7.95m at 1.29% CuEq (0.24% Cu, 0.75% Zn, 73.0g/t Ag) from 19.00m and 7.00m at 1.32% CuEq (0.63% Cu, 0.71% Zn, 49.0g/t Ag) from 153.00m. Assays for the interval from 167m to 280m, which projects towards the 26ANXDD007 zone, remain pending. Near-surface results in holes 26ANXDD008, 26ANXDD010 and 26ANXDD011B also returned high-grade intervals, including 14.03m at 3.31% CuEq (0.50% Cu, 6.66% Zn, 110.1g/t Ag) from 24.92m in 26ANXDD011B and 12.20m at 2.95% CuEq (1.11% Cu, 129.2g/t Ag) from 21.00m in 26ANXDD008.

Programme Status and Geophysical Surveying at Mons Cupri

As at early November 2026, Anax had completed 16 diamond holes for approximately 4,760m, with hole 26ANXDD017 in progress. Assays for holes 26ANXDD012 to 26ANXDD016A remain pending and will be reported once received and validated. The full 2026 programme is scheduled to conclude in early December 2026, with 20 holes totalling approximately 6,200m to be completed. The company disclosed that downhole electromagnetic surveys had not responded to the mineralisation style at Mons Cupri NW, and that Newexco Exploration Services advised downhole MMR surveying as a more appropriate method. MMR surveying commenced during the week of the filing. The Whim Creek Copper-Zinc Project is located 120km southwest of Port Hedland, Western Australia. Anax owns 80% of the Project, with the remaining 20% held by Develop Global Limited.

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