Announcement Date: 2022-12-12
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Hammer Metals Ltd.
Project name: Mount Isa
Location: Australia
Commodities: Gold,Copper
Highlight: Drilling results incl. 68m at 0.06g/t Au, 0.29% Cu, from 31m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Hammer Metals Ltd (ASX: HMX) (“Hammer” or the “Company”) is pleased to report assay results from its maiden drilling program completed at the Pearl prospect, located 1km south of Ajax East and 4.7km north of the Trafalgar prospect, within the Company’s highly prospective Mt Isa copper-gold portfolio in NW Queensland. Pearl is located along the exciting Trafalgar-to-Jubilee trend, which includes established copper-gold JORC resources at Elaine, Jubilee and at Aeris Resources’ (ASX: AIS) Mt Colin copper mine. Both Pearl and Trafalgar form part of Hammer’s Mt Isa East Joint Venture with Sumitomo Metal Mining Oceania (SMMO). A total of five holes for 990m were drilled at Pearl and seven holes for 1,703m along the Trafalgar trend as part of the recent program. Drilling at Pearl was designed to test a cluster of EM plates defined earlier this year while drilling along the Trafalgar trend targeted IP chargeability zones (refer to ASX announcement 29 June 2022). This drilling is being conducted a part of a larger program covering 10 prospects within the Mount Isa Project area, two of which (Pearl and Trafalgar) form part of the Mount Isa East Joint Venture. The drilling conducted at Pearl appears to indicate that it is part of the same mineralised system as Ajax East and Trafalgar. This broadens the search space and upside potential of the trend.
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