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Hammer Metals (ASX:HMX) - Managing Director, Daniel Thomas
Managing Director, Daniel Thomas
Source: The Market Herald
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  • Hammer Metals (HMX) receives results from its reverse circulation (RC) drilling program at the Mount Isa Project in Queensland
  • Results have already been received for the Lakeview Prospect and results have now been received from the Kings-Charlotte and Lady Rose prospects
  • Overall, best grades come from Charlotte where up to 1.52 grams of gold per tonne (g/t) and 10.1 per cent copper was intersected
  • Results are now pending for the Trafalgar, Serendipity, Overlander and Kalman West prospects
  • Hammer is down 2.30 per cent on the market with shares trading at 8.5 cents at 12:10 pm AEST

Hammer Metals (HMX) has received results from its reverse circulation (RC) drilling program at the Mount Isa Project in Queensland.

The 4000-metre RC drilling program tested several high priority targets as well as testing the Mount Isa east JOGMEC joint venture Trafalgar copper-gold discovery.

Results have already been received for the Lakeview Prospect and Hammer has now received results from the Kings-Charlotte and Lady Rose prospects.

Kings-Charlotte

Six holes, for 660 metres, were drilled across the Charlotte and Kings structures with all holes intersecting anomalous responses.

Best results come from Charlotte where up to three metres at 3.89 per cent copper and 0.56 grams of gold per tonne (g/t) from 18 metres including one metre at 10.1 per cent copper and 1.52g/t gold was intersected.

Lady Rose

Three holes, for 728 metres, were drilled at Lady Rose. The best result was 100 metres at 0.48 per cent copper and 0.18 grams of gold per tonne (g/t) from 173 metres, including three metres at 3.09 per cent copper and 1.4g/t gold from 198 metres.

Hammer will now model the mineralisation and undertake a downhole electromagnetic survey within the prospect.

Once completed, the area will be drilled again in a follow-up program planned for later in the year.

Kalman West

Furthermore, prospecting at the Kalman West Prospect outlined a thin quartz vein zone with visible gold.

Silver analysis is now in progress after more than 96 ounces of silver per tonne was identified.

Results are now pending for the Trafalgar, Serendipity, Overlander and Kalman West prospects.

Managing Director Daniel Thomas said these results highlighted the potential of the Mount Isa Project and further drilling would be undertaken to follow up on the results.

“The continued successful delineation of copper and gold mineralisation at different prospects throughout the Hammer portfolio highlights the copper endowment within the Mount Isa district,” Mr Thomas commented.

“Hammer will look to build upon these initial drill results at the Neptune and Kings-Charlotte prospects with follow up drilling to be undertaken in the second half of the year.”

Hammer was down 2.30 per cent on the market with shares trading at 8.5 cents at 12:10 pm AEST.

HMX by the numbers
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