{"id":9766,"date":"2024-05-16T05:32:54","date_gmt":"2024-05-16T05:32:54","guid":{"rendered":"https:\/\/economicherald.net\/?p=9766"},"modified":"2024-05-16T05:32:54","modified_gmt":"2024-05-16T05:32:54","slug":"metallic-matchmaking-greentech-and-anax-join-forces-on-pilbara-copper-processing-deal","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=9766","title":{"rendered":"Metallic matchmaking: GreenTech and Anax join forces on Pilbara copper processing deal"},"content":{"rendered":"<p>GreenTech\u2019s alliance with Anax Metals could lead to near-term mining operations at Whundo<br \/>\nBoth companies to assess processing Whundo ore at the planned Whim Creek processing hub<br \/>\nExploration to determine potential of Austin, Shelby and Yannery prospects to add further resources<\/p>\n<p>\u00a0<\/p>\n<p><strong><em>Special Report:<\/em> GreenTech Metals has reached an agreement with Anax Metals that could see ore from the former\u2019s Whundo project being treated at the latter\u2019s Whim Creek base metals processing hub in Western Australia\u2019s Pilbara region.<\/strong><\/p>\n<p>Whundo currently has a resource of 6.2Mt grading 1.12% copper and 1.04% zinc, with the higher confidence indicated component making up the bulk at 4.4Mt at 1.03% copper and 0.89% zinc.<\/p>\n<p><a href=\"https:\/\/stockhead.com.au\/company\/greentech-metals-gre\/\"><strong>GreenTech Metals\u2019 (ASX:GRE)<\/strong><\/a> recent <a href=\"https:\/\/stockhead.com.au\/resources\/theres-a-big-copper-prize-to-be-unlocked-at-greentechs-whundo-project\/\"><strong>high-level review<\/strong><\/a> indicated that the Austin, Shelby and Yannery prospects \u2013 which are not included in the resource \u2013 have the potential to significantly increase this number.<\/p>\n<p>This review considered strong copper prices and the fact that the three prospects have a combined fixed loop electromagnetic (FLEM) signature about three times larger than the Whundo and Ayshia resource areas.<\/p>\n<p>EM surveys detect anomalies in the earth\u2019s natural magnetic field caused by zones of rock that conduct or resist electrical currents more than the surrounding rock, like ore deposits.<\/p>\n<p>\u00a0<\/p>\n<p>Regional map of the Whundo and Whim Creek projects. Pic via GRE<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Potential for near-term mining operations at Whundo<\/strong><\/h2>\n<p>Under the memorandum of understanding, GRE and Anax Metals (ASX:ANX) will assess the potential to treat ore from Whundo and other suitable GRE assets at the Whim Creek processing hub.<\/p>\n<p>Whim Creek will consist of a new 400,000tpa concentrator and a refurbished heap leach facility capable of treating oxide, transitional and supergene ore. It is expected to produce 20,000-30,000tpa of copper equivalent for more than 10 years.<\/p>\n<p>This is central to their Pilbara Base Metal Alliance, which targets more than 20,000tpa of copper equivalent production, and also offers GRE a near-term opportunity to monetise open-pittable ore at Whundo while progressing exploration at Austin, Shelby and Yannery prospects.<\/p>\n<p>Whundo and Whim Creek will have combined resources of 17.2Mt with 185,000t of contained copper and 256,000t of contained zinc.<\/p>\n<p>\u201cThis is a great opportunity for GreenTech that could see a formalised Alliance with Anax taking significant steps towards establishing near-term mining operations at our Whundo Project,\u201d GreenTech managing director Tom Reddicliffe said.<\/p>\n<p>\u201cOur project already has defined open-pittable copper and zinc resources and potential to define additional near surface resource tonnes at both Yannery and Ayshia.<\/p>\n<p>\u201cThe alliance could be the catalyst that the West Pilbara needs to become a significant copper producer and we look forward to working closely with Anax to make this a reality.\u201d<\/p>\n<p>ANX managing director Geoff Laing added that the alliance was the first step towards creating an expanded Pilbara copper business with GRE.<\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span>\u00a0<\/p>\n<p><em>This article was developed in collaboration with GreenTech Metals, a Stockhead advertiser at the time of publishing. <\/em><\/p>\n<p><em>\u00a0<\/em><\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/resources\/metallic-matchmaking-greentech-and-anax-join-forces-on-pilbara-copper-processing-deal\/\">Metallic matchmaking: GreenTech and Anax join forces on Pilbara copper processing deal<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>GreenTech\u2019s alliance with Anax Metals could lead to near-term mining operations at Whundo Both companies to assess processing Whundo ore at the planned Whim Creek <a href=\"https:\/\/economicherald.net\/?p=9766\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":9767,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-9766","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - 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