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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 updated the market on exploration at the Mt Isa Copper Project in Queensland
  • Following the recent discovery of the Trafalgar Copper-Gold deposit, Hammer has sped-up the review of the mineral potential surrounding the deposit
  • Multiple targets have been identified and planning for drill testing has begun
  • Furthermore, Hammer is expected to test targets at the Kings, Lakeview, Charlotte and Serendipity prospects in April
  • Updates will continue to be made as work progresses and results are received
  • Shares in Hammer are up 9.52 per cent and trading at 11.5 cents

Hammer Metals (HMX) has updated the market on exploration at the Mt Isa Copper Project in Queensland.

Following the discovery of the Trafalgar Copper-Gold deposit, Hammer has sped-up the review of the mineral potential surrounding the deposit.

Multiple targets have been identified and planning for drill testing has begun.

Furthermore, Hammer is expected to test targets at the Kings, Lakeview, Charlotte and Serendipity prospects in April.

The company is also considering undertaking a second phase drilling program at the Black Rock, Neptune and Sunset prospects later in the year.

Trafalgar

Previous work at Trafalgar consisted of four holes, with results outlining copper-gold mineralisation up to 30 metres wide.

This work saw grades peak at 7.58 per cent copper and 3.22g/t gold. Promisingly, results have indicated that the mineralised trend spans more than 2.7 kilometres to the north and one kilometre to the south.

Upcoming work at Trafalgar will aim to extend the deposit as well as test the potential along trend.

Lakeview

Lakeview remains largely untested with one hole drilled in 1988 by Pimex and rock chip sampling undertaken by Hammer in 2015.

Four to eight holes have been planned with work set to begin in April.

Black Rock and Sunset

Previous work at Sunset has outlined mineralisation over a 700-metre strike length and grades peaking at 4.57 per cent copper and 2.74g/t gold.

Mineralisation at Black Rock is hosted within magnetite-hematite quartz measuring over 1.2 kilometres in length. Grades peaked at 4.05 per cent copper and 0.59g/t gold.

Despite acquiring both prospects in 2018, Hammer is yet to begin exploration.

A detailed plan is currently being developed to confirm historical exploration work with work scheduled to begin in the second half.

Kings – Charlotte

The Kings – Charlotte region has not been drilled by previous explorers, so Hammer will drill five to 10 holes to test this prospect.

The region is characterised by outcropping gold and copper mineralisation, as well as numerous soil geochemical responses.

“After a tremendous start to our year in Mount Isa, the team is eager to return and aggressively explore the trends surrounding the Trafalgar discovery,” Managing Director Daniel Thomas commented.

“These areas have the potential to contribute resources to the Trafalgar discovery and set the company up for an aggressive and exciting exploration program in Mount Isa in 2021,” he added.

Shares in Hammer are up 9.52 per cent and trading at 11.5 cents at 11:23 am AEDT.

HMX by the numbers
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