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Hammer Metals (ASX:HMX) - Managing Director, Daniel Thomas - The Market Herald
Managing Director, Daniel Thomas
Source: Hot Copper
  • Hammer Metals (HMX) has been awarded a $150,000 grant through the Western Australian Government Exploration Incentive Scheme
  • The grant will partially fund the resumption of drilling at the Bronzewing South Gold Project in the Yandal Belt of WA
  • Prior to the temporary halt of operations due to COVID-19, Hammer was conducting aircore drilling at two Orelia North targets
  • The company successfully expanded gold mineralisation at target one to over two kilometres long and confirmed anomalous gold at target four
  • When drilling resumes next month, Hammer will infill and further test the extent of mineralisation at target one, while further testing target four
  • Hammer Metals is down 11.5 per cent with shares trading for 2.3 cents each

Hammer Metals (HMX) has been awarded a $150,000 Western Australian Government Exploration Incentive Scheme grant.

The company will use the grant money to partially fund the drilling of deeper gravity targets at the Bronzewing South Gold Project. Bronzewing is located in the prospective Yandal Belt of Western Australia.

Aircore (AC) drilling at the project has been temporarily suspended since late March due to COVID-19 restrictions.

Prior to the program's suspension, shallow gold mineralisation trends at Orelia North target one had been expanded to over a two-kilometre length and anomalous levels of gold were confirmed at target four.

Hammer will resume drilling on target one, infilling lines of mineralisation to test for continuity of these trends. It will also aim to uncover multiple parallel trends of mineralisation as found at the northern end of target one and in the Lotus and Orelia deposits.

The drilling at target four, which is located 800 metres to the north of the Lotus Pit, was designed to test structural and lithological trends interpreted from aeromagnetics to be along strike of the Lotus deposit.

The best result from target four comes from the southernmost drilling, with 32 metres at 0.15g/t gold from 32 metres, including 4 metres at 0.88g/t gold from 32 metres.

"The Western Australian government EIS program has a tremendous history in contributing to the discovery of valuable ore deposits," Managing Director Daniel Thomas said.

"Whilst the interruption to our North Orelia program was unfortunate, it has given the company an opportunity to re-assess the priority of its targets and allows us to refocus on the displayed potential at Target 1," Daniel added.

The planned EIS-funded diamond drilling will take place after the Orelia AC program and reverse circulation drill testing of Orelia and Kens Bore is complete.

Operations are expected to resume in mid-June.

Hammer Metals is down 11.5 per cent with shares trading for 2.3 cents each at 1:01 pm AEST.


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