Anax Metals (ASX:ANX) reported an updated mineral resource for the Mons Cupri deposit at its Whim Creek copper-zinc project in Western Australia, with the resource increasing 24% in tonnes to over 6.32 million tonnes at 1.38% copper equivalent, up 20% in contained copper equivalent tonnes to 87,000 tonnes, according to a Tuesday Australian bourse filing.
The company said more than 78% of the updated mineral resource, or 4.95 million tonnes at 1.5% copper equivalent, is classified as measured and indicated and expected to be amenable to open-pit mining based on reasonable prospects for eventual economic extraction.
The company started a 5,000-meter resource, exploration, and metallurgical drilling program at Mons Cupri in July.