Artemis Resources (ASX: ARV) has signed a non-binding and non-exclusive MoU with Anax Metals (ASX:ANX) to work together in Western Australia.
The companies will jointly assess the potential for processing the copper content of Artemis’ open-pittable Greater Carlow resource, at the fully permitted Whim Creek processing hub as well as the potential for Artemis to explore for gold mineralisation on the Anax Project tenure in the West Pilbara.
"We are thrilled to collaborate with Anax Metals on the Pilbara copper alliance via this MoU and expand our own potential for gold exploration,” Artemis Executive Director, George Ventouras, said.
“The West Pilbara region of Western Australia is an exciting jurisdiction to be operating in and this initiative allows each company to focus on its strengths and on delivering results for all stakeholders.”
The proposed Whim Creek Project (80% owned by Anax and 20% owned by Develop Global (ASX:DVP)) will consist of a new 400,000 tonnes per annum concentrator, and a refurbished heap leach facility capable of treating oxide, transitional and supergene ore that is supported by robust project economics.
By fully utilising its processing capacity, Whim Creek could become a substantial West-Australian copper producer.
Whim Creek is located 115km southwest of Port Hedland in the West Pilbara region of Western Australia, and ~80km east of the Artemis Carlow Castle deposit which is located ~25 km east of Karratha.
This MoU also provides Artemis with the opportunity to consider the potential for gold exploration on the Anax tenement package. A portion of Anax’s tenements are located approximately 70km from the Hemi deposit of De Grey Mining where they have reported a Mineral Resource estimate of 12.5moz Au.
