Hammer Metals (ASX:HMX) reports it has received final assay results confirming a ‘significant’ wide zone of ‘high-grade’ copper sulphide mineralisation at the South Hope Prospect in Queensland.
The company says these results are from the first reverse circulation (RC) hole completed at the prospect which is part of the company’s Mount Isa Copper-Gold portfolio.
This RC drilling program is the Hammer’s first at Mount Hope, and it consisted of 11 holes drilled for 1,353m across 6 discrete prospects and the drilling primarily targeted zones of former copper-gold workings in addition to recently defined geophysical (induced polarisation) anomalies.
The targets included South Hope, The Stubby, North Stubby IP Anomaly, Mascotte and Mascotte Junction, and the company says samples have been submitted to the laboratory with assays expected to be returned over the next 4 to 6 weeks.
Hammer Metals Managing Director Daniel Thomas said the confirmation of a significant copper intersection at South Hope is a great result which gives the company encouragement about the potential of its Mount Hope prospects.
“Assays are awaited for seven additional drillholes from the region which will ensure a steady flow of news through the coming months.
“Assays are awaited for seven additional drillholes from the region which will ensure a steady flow of news through the coming months”
Drilling in the southern region of our portfolio has exceeded our expectations and we’re eagerly planning follow-up drilling for all of the prospects tested in this initial program
Our drilling program is set to continue into early December with the remaining holes being drilled at Kalman before closing out the program with a further drill test at Ajax along with our first drilling at the new Hardway Rare Earth Prospect.”
At South Hope, Hammer reports RC hole HMHSRC001 intersected 25m @ 2.41% Cu and 0.4g/t Au from 74m including 6m @ 3.12% Cu and 0.36g/t Au from 85m.
The company has also conducted a DHEM surrey at HMHSRC005 with initial geophysical modelling indicating a south plunging conductor, and follow-up drilling at South Hope in conjunction with the modelled electromagnetic anomaly is expected to provide a vector to uncovering further mineralisation at South Hope and follow-up drilling program expected to commence in early 2023.
Hammer reports 3 follow-up holes at South Hope were completed with zones of ‘high-grade’ copper mineralisation confirmed in 2 of the holes including 4m @ 3.03% Cu and -.29g/t Au from 39m in HMSHRC003 including 1m @ 10.1% Cu and 0.98g/t Au from 40m, as well as 13m @ 0.81% Cu and 0.17g/t Au from 161, in HMHSRC005 including 3m @ 1.41% Cu and 0.35g/t Au from 163m.
In hole HMHSRC005 there was a ‘significant’ clockwise deviation which resulted in the primary target being missed, which was later confirmed by the interpretation of DHEM, which modelled a mineralised shoot located above HMHSRC005 and below hole HMHSRC003. Hammer also notes assays from hole HMHSRC004 are still pending.
Follow-up drilling at South Hope, Stubby, Mascotte and Mascotte Junction is currently being planned, and Hammer says this program will likely commence in early 2023, however the company is investigating contractor availability with a view to completing the program this year.
The company states drilling is ongoing in the northern part of its Mount Isa Project, and extensional drilling at the Kalman Copper-Gold-Molybdenum-Rhenium Deposit is continuing with follow up drilling at Ajax and an initial drill test of Hammer’s REE prospect at Hardway planned at the completion of this year’s program.
As Hammer continues its programs in the northern portions of its tenure, the company has reviewed the exploration potential around the Yellowstone prospects located around 3.5km from Jubilee and 600m south of the Barkly Highway.
This prospect comprises a series of historical ‘high-grade’ copper workings with a number of them untested by drilling, and rock chip samples were taken at a variety of prospective zones recording ‘strong’ copper and gold mineralisation including individual grades of 24.6% Cu and 5.3g/t Au.
Yellowstone will be subject to further review with an initial drill test of prospective zones likely in early 2023.
Hammer Metals is an active mineral explorer focused on discovering large copper-gold deposits.
The company holds a 100% interest in the Bronzewing South Gold Project located adjacent to the 2.3 million ounce Bronzewing gold deposit in Western Australia, as well as the wholly owned Kalman, Overlander North, Overlander South, Elaine and Jubilee deposits in the Mount Isa mining district in Queensland.
Images: Hammer Metals Ltd
