Hammer Metals Ltd (ASX: HMX) has announced high-grade initial results from reverse circulation drilling at its Lakeview prospect within the Mount Isa East Project area in Queensland.
copper and gold intersections confirm near surface high-grade mineralisation over a 350m strike length
The company said that the copper and gold intersections confirm near surface high-grade mineralisation over a 350m strike length and remain open along strike and at depth at the Lakeview prospect.
All four holes drilled at Lakeview intersected copper and gold mineralisation at shallow depths. Standout results included 10m at 1.97% Cu and 0.42g/t Au from 23m including 2m at 4.58% Cu and 0.95g/t Au from 26m; and 17m at 1.05% Cu and 0.39g/t Au from 29m including 8m at 1.82% Cu and 0.76g/t Au from 38m.
Hammer Metals said that sulphide mineralisation, including chalcopyrite, was also been observed in drilling at the Lady Rose (Neptune area) and Kings/Charlotte prospects.
The current drilling program will be extended with a return to Lakeview scheduled towards the end of the program to test for extensions of the mineralised zone.
HMX is approximately halfway through its planned 4,000m RC drilling program of 24 holes across the Company’s 100% owned projects, together with the Trafalgar copper gold discovery within the JOGMEC Joint Venture.
The company said that the drilling at the Trafalgar project has now commenced, concentrating on testing extensions to previously reported significant intersections.
Drilling at Mount Isa east project area
Hammer Metals had recently commenced reverse circulation drilling program in the company’s Mount Isa east project area. The program was aimed at drilling several high priority 100% owned Hammer targets whilst also completing further drilling at the Mount Isa east JOGMEC Joint Venture (JV) Trafalgar copper gold discovery.
The company has now reported encouraging results for an initial 4-hole program at its 100% owned Lakeview prospect.
High-grade hits from Lakeview prospect
Significant results include
- 8m at 1.97% Cu and 0.24g/t Au from 42m including 5m at 2.9% Cu and 0.32g/t Au from 43m in HMLVRC001;
- 10m at 1.97% Cu and 0.42g/t Au from 23m including 2m at 4.58% Cu and 0.95g/t Au from 26m in HMLVRC003; and
- 17m at 1.05% Cu and 0.39g/t Au from 29m including 8m at 1.82% Cu and 0.76g/t Au from 38m in HMLVRC004
All significant intersections from the four RC holes are as shown below.
The company said that further drilling along the mineralised trend and at depth is planned.
Other prospects
HMX has also reported drilling updates for Lady Rose (Neptune), Kings, Charlotte, and Alice prospects.
Lady Rose
Drilling has been completed at Lady Rose with three holes drilled at the prospect for a total of 728m. The company said that sulphide mineralisation (including chalcopyrite) was observed in all three holes with samples now dispatched to the laboratory for assay. The company said that southern and northern holes at the prospect have been cased with PVC to enable a future down hole electromagnetic survey (DHEM).
Kings/Charlotte/Alice
Six holes for 660m were completed at Kings/Charlotte/Alice prospective targets on the Malbon tenement. HMX said that visual sulphides including chalcopyrite were observed in four of the holes. The company said that samples have been submitted to the laboratory with assays likely to be completed in early July.
Drilling begins at Trafalgar project
HMX reported that drilling at the Trafalgar project has now commenced, concentrating on testing extensions to previously reported significant intersections of 55m at 1.12% Cu and 0.30g/t Au from 119m including 16m at 1.77% Cu and 0.49g/t Au from 149m; and 60m at 1.04% Cu and 0.25g/t Au from 64m including 6m at 2.38% Cu and 1.45g/t Au from 91m.
Updates and further work
HMX said that the current drilling program will be extended with a return to Lakeview scheduled towards the end of the program to test for extensions of the mineralised zone.
The Company said that it is approximately halfway through its planned 4,000m RC drilling program of 24 holes across the Company’s 100% owned projects, together with the Trafalgar copper gold discovery within the JOGMEC Joint Venture.
“To see mineralisation over a 350m strike extent at Lakeview is an extremely encouraging start to the current drilling program”
Management statements
Hammer’s Managing Director, Daniel Thomas said: “This is a great result from the first four holes targeted at a 100% HMX prospect on the broader Trafalgar trend. To see mineralisation over a 350m strike extent at Lakeview is an extremely encouraging start to the current drilling program.
A follow up program at Lakeview has been designed with drilling to be completed towards the conclusion of the current program – likely end June. The team is also encouraged by the copper mineralisation observed at the Lady Rose and Kings/Charlotte prospects. Whilst assays are awaited, follow up programs for both prospects are also being considered.”
Images: Hammer Metals Ltd