Anax Metals Restricted(ASX: ANX) (Anax or the Firm) and Artemis Sources Ltd (ASX:ARV, Artemis) are happy to announce that they’ve signed a non-binding and non-exclusive Memorandum of Understanding (MoU) which units out the phrases on which Anax and Artemis comply with collectively assess the potential for processing the copper content material of Artemis’open-pittable Better Carlow useful resource on the fully-permitted Whim Creek Processing hub (Whim Creek). As well as, the events additionally comply with collectively assess the potential for Artemis to probe for gold mineralisation on the Anax Challenge tenure.
- Artemis Sources Ltd (ARV) and Anax Metals Ltd (ANX) signal Memorandum of Understanding (MoU) to evaluate potential to deal with Carlow Fortress (64,000 T Cu Inferred Mineral Useful resource Estimate) and different appropriate ARV copper property at Whim Creek processing hub.
- The Events additionally comply with collectively assess the potential for Artemis to probe for gold mineralisation on the Anax Challenge tenure.
- The Pilbara Alliance and Processing Hub proceed to collect momentum with Carlow Fortress to be assessed along with Develop International’s (DVP), Sulphur Springs Oxide and GreenTech Metals (GRE), Whundo undertaking as potential satellite tv for pc ore sources.
- Absolutely-permitted Whim Creek processing property may present near-term processing choice for Artemis’ open pittable Carlow Fortress deposit.
Anax’s Managing Director, Geoff Laing, commented:“We’re extraordinarily happy to be working with Artemis on potential copper/gold manufacturing by way of the deliberate Whim Creek hub and to advance gold exploration alternatives on the undertaking. Our area is prolific with copper and gold potential, and we stay up for making use of the important thing strengths of our respective groups to delivering constructive outcomes by way of the manufacturing hub and an expanded gold exploration initiative at Whim Creek.”
Artemis Government Director, George Ventouras, commented:“We’re thrilled to collaborate with Anax Metals on the Pilbara copper alliance by way of this MoU and increase our personal potential for gold exploration. The West Pilbara area of Western Australia is an thrilling jurisdiction to be working in and this initiative permits every firm to concentrate on its strengths and to ship outcomes for all stakeholders.”
The proposed Whim Creek Challenge (80% owned by Anax and 20% owned by Develop International Ltd) will include a brand new 400,000 tonnes every year concentrator, and a refurbished heap leach facility able to treating oxide, transitional and supergene ore that’s supported by sturdy undertaking economics. 1, 2 & 3 By totally utilising its processing capability, the Whim Creek hub may change into a considerable Australian copper producer.
Whim Creek is situated 115km southwest of Port Hedland within the West Pilbara area of Western Australia, and 80km east of the Artemis Carlow Fortress deposit which is situated 25 km east of Karratha (Determine 1).
Determine 1: Location of the Whim Creek and Carlow Fortress Tasks (Refer Appendix A)
Underneath the settlement, every celebration will contribute sources and data to the joint evaluation that may concentrate on technical research and regulatory approvals at Carlow Fortress. The joint evaluation will help the Events in growing phrases for a legally binding settlement that enables for Artemis copper property to be processed at Whim Creek. Transaction choices being thought-about embody (with out limitation) an outright asset sale/buy settlement, three way partnership or joint mining and funding agreements.
The events additionally comply with collectively assess the potential for Artemis to probe for gold mineralisation on the Whim Creek Challenge tenure. Artemis will proceed to progress gold and lithium exploration at its 100%-owned and JV Pilbara tenements.
The MoU is for a time period of 12-months and both celebration is permitted to terminate the MoU by offering 30-days’ written discover.
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