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Hammer Metals (ASX:HMX)-Managing Director, Daniel Thomas
Managing Director, Daniel Thomas
Source: Business News
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  • Hammer Metals (HMX) has purchased new tenements to expand its Yandal Gold Project in WA
  • Hammer has purchased two tenements, located around three kilometres south-east of the Bronzewing Mine
  • Meanwhile, the company recently completed a two-hole diamond drilling program at Bronzewing South, which found low-grade gold mineralisation and extensive zones of veining and alteration
  • A high-resolution gravity survey is now planned at the area to improve target definition prior to drilling
  • On the market this morning, Hammer is down 8 per cent and is trading at 11.5 cents

Hammer Metals (HMX) has purchased new tenements to expand its Yandal Gold Project in WA and reported the final results from its recent diamond drilling program.

Tenements acquisition

Hammer has purchased two tenements, named the Harrier tenements, located around three kilometres south-east of the Bronzewing Mine.

The Harrier tenements cover the Bronzewing Mine stratigraphy with numerous
surface gold occurrences and are considered lightly explored given their
proximity to the mine.

“Hammer continues to grow its portfolio in the Yandal gold belt with the aim of
becoming a significant explorer in an under-explored world class mineral province,” Managing Director Daniel Thomas said. said.

Diamond drilling results

Alongside the tenement purchases, the company has also unveiled fresh drill results from its recent program.

Notably, the drilling was partly funded by the WA exploration incentive scheme (EIS), through which exploration companies can apply for up to a 50 per cent refund on innovative exploration drilling projects.

The program completed a total of 1203 metres of drilling, which found low-grade gold mineralisation and extensive zones of veining and alteration

Results from hole BWSDD001 include 14 metres at 0.14g/t of gold from 202 metres, while hole BWSDD002 had no significant gold mineralisation.

A high-resolution gravity survey is now planned to improve target definition prior to drilling.

“This program has assisted Hammer in understanding the geology of the Bronzewing South project area, upgrading shallower target zones closer to our boundary with the Bronzewing gold mine,” he added

“The team is eager to commence this year’s air core program at North Orelia with several target zones identified during our 2020 activities. The commencement of work programs in the Yandal belt will complement our activities in Mount Isa and provide the company with strong news flow during the first half of the year,” he concluded.

On the market this morning, Hammer is down 8 per cent and is trading at 11.5 cents at 10:36 am AEDT.

HMX by the numbers
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