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Hammer Metals (ASX:HMX) - Managing Director, Daniel Thomas - The Market Herald
Managing Director, Daniel Thomas
Source: The Market Herald
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  • An extension to Hammer Metals’ (HMX) current drilling program has been approved, allowing additional holes to follow up the copper and gold discovery at the Trafalgar prospect at its Mount Isa East joint venture in Queensland
  • The Trafalgar prospect forms part of an extensive copper-gold soil anomaly and magnetic trend which extends 2.7 kilometres
  • This prospect is part of Hammer’s Mount Isa East joint venture with JOGMEC, which is earning a 60 per cent stake by spending $6 million on exploration activities
  • Significant intercepts at the prospect include 55 metres at 1.12 per cent copper and 0.30g/t gold from 119 metres including 16 metres at 1.77 per cent copper and 0.49g/t gold from 149 metres
  • The additional holes will be drilled from the opposite direction in order to confirm the width and continuity of mineralisation
  • Following the Trafalgar prospect, Hammer Metals will recommence drilling at the Shadow, Toby East, Alpha, Charlie and Juliett prospects
  • Hammer Metals is up 24 per cent, trading at 9.3 cents

An extension to Hammer Metals’ (HMX) current drilling program has been approved, allowing additional holes to follow up the copper and gold discovery at the Trafalgar prospect at its Mount Isa East joint venture in Queensland.

The active mineral explorer has a focus on large copper-gold deposits, holding a tenement position covering approximately 2200 square kilometres within the Mount Isa mining district.

The Trafalgar prospect forms part of an extensive copper-gold soil anomaly and magnetic trend which extends 2.7 kilometres. Little previous exploration has taken place at the prospect, however, numerous minor surface workings — including small pits and shafts — are observed along this trend.

This prospect is part of Hammer’s Mount Isa East joint venture with JOGMEC, which is earning a 60 per cent interest by spending $6 million on exploration activities.

Significant intercepts at the prospect include 55 metres at 1.12 per cent copper and 0.30g/t gold from 119 metres, and 32 metres at 1.04 per cent copper and 0.25g/t gold from 64 metres.

The additional holes are planned to be drilled from the opposite direction in order to confirm the width and continuity of mineralisation.

An additional hole will also be drilled around 80 metres to the north of the hole, which will bring the current program to a close in line with the expected wet season in Mount Isa.  

Once the drilling program is complete, the joint venture will interpret the results and plan to return with a follow up field program in April.

Following the Trafalgar prospect, Hammer Metals will recommence drilling at the Shadow, Toby East, Alpha, Charlie and Juliett prospects.

Hammer Metals is up 24 per cent, trading at 9.3 cents at 10:55 am AEDT.

HMX by the numbers
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