Hammer Metals (ASX: HMX) has reported a ‘significant’ upgrade to previously-reported pXRF assay results from its Ajax prospect near Mount Isa, Queensland.
The laboratory assay results come from a previously-reported ‘high-grade’ copper-gold intercept in RC hole HMLVRC014, which was tasked with testing prospective surface geological features at the Lakeview trend.
Key results include:
- 11m @ 5% Cu and 2.5g/t Au from 24m
- 16m @ 3.5% Cu and 1.8g/t Au from 22m; including an individual maximum Cu grade of 13.2% Cu, 3.2g/t Au and 0.12% Ni from 28-29m
The company believes that these results provide support for additional RC drilling at Ajax to test for further copper-gold mineralisation.
Speaking on the update, Hammer Metals Managing Director Daniel Thomas said, “It’s extremely pleasing to see a significant upgrade to the preliminary assay results at Ajax. Copper grades above 5% are rare, especially with the potential relationship of this intercept to a nearby sizeable geophysical target.
“Given the absence of graphite in the immediate area, the conductor may represent a prospective sulphide horizon”
Given the absence of graphite in the immediate area, the conductor may represent a prospective sulphide horizon. The corresponding strong copper and gold geochemistry at surface presents Ajax as one of the more exceptional exploration targets that I have observed.
Another high-quality target has now been added to our drilling sequence and is a testament to the high-quality work being delivered by the Hammer team.”
In addition, a recently-completed FLEM survey approximately 350m east of Ajax has identified a ‘high priority’ conductor, sitting below the ‘highly anomalous’ region between the Smoko Gossan and Lakeside prospects.
The modelled conductor measures 3,000 Siemens and sits along approximately 500m of strike and at 500m depth.
Plan view displaying the Ajax, Smoko Gossan and Lakeside prospects along with EM platesThe Ajax prospect is located within Hammer’s 100%-owned Mount Isa exploration portfolio, and encompasses over 2,000km² of prospective land holdings that include early-stage greenfield prospects as well as the Smoko Gossan prospect, located on the Trafalgar-to-Jubilee trend.
Follow up drilling will be conducted at the recently-identified mineral horizon at Ajax later this week while the company finalises landowner negotiations to commence diamond drilling on the new EM target.
Images: Hammer Metals Ltd
