Hammer Metals (ASX:HMX) has completed a maiden inferred resource estimate for the Orelia North Gold deposit, within the Yandal Gold Project in Western Australia.
The resource estimate, conducted by Geowiz Consulting, contains 1.48 million tonnes @ 1.15 grams per tonne (g/t) gold for 54,500 ounces of contained gold.
Hammer Metals, which has a market capitalisation of $35.45 million, says the deposit extends from surface and remains open at depth with potential for resource extensions.
Managing Director Daniel Thomas says the resource estimate provides a solid foundation for the company’s ongoing exploration within the Yandal greenstone belt.
“Orelia North was discovered by Hammer in 2020, as part of a reconnaissance aircore drilling program,” Thomas says.
“The discovery highlights the potential of Hammer’s exploration ground in the Yandal region where shallow first-pass exploration conducted in the late 1970s and 1980s has been shown, in some instances, to not have detected near surface gold mineralisation.
“The Yandal gold region has long been a significant contributor to Australia’s gold production, with numerous significant gold systems including Bronzewing, Jundee, and Thunderbox.”
Thomas notes that additional exploration will be considered, with the aim to increase the project’s gold inventory.
The Orelia North deposit lies in an established gold mining province, 9.5km north of Northern Star Resources (ASX:NST) Orelia gold mining operations.
Hammer Metals is a gold-copper focused explorer that holds a strategic tenement position covering 2,800km2 within the Mount Isa mining district.
Write to Aaliyah Rogan at Mining.com.au
Images: Hammer Metals
