Hammer Metals (ASX:HMX) has launched a high-impact lithium and gold drilling program at the Orelia lithium-caesium-tantalum (LCT) pegmatite field within its Yandal Project in Western Australia.
The drilling will test down-dip and along-strike of a prospective mapped zone of LCT pegmatites within the field, which lies roughly 37km northeast of Lionton Resources’ (ASX:LTR) Kathleen Valley Lithium-Tantalum Project.
At the same time, the drilling program will focus on in-filling and extending the Orelia Target 1 gold prospect in the area. Hammer, which has a $31 million market capitalisation, says this portion of the drilling will act as a precursor to establishing a maiden gold mineral resource estimate at Target 1.
The gold target lies 10km along-strike from Northern Star Resources’ (ASX:NST) Orelia Gold Mine.
The Yandal assets lie within Hammer’s wider Bronzewing Project.
Hammer’s previous soil sampling, rock chipping sampling, and mapping work at the Orelia pegmatite swam has indicated that the pegmatites in the area are the LCT type, with the potential to host lithium-bearing minerals.
As the company tests the pegmatites with a drill rig, it will use the data generated to guide future programs in the area.
Looking ahead, the company plans to get a reverse circulation (RC) rig spinning at the Norther Orelia Target 1 and Tapenade prospects in the area before the end of March and to launch a drilling program at the Shadow South and Mount Philip copper and gold zones within its Mount Isa East Joint Venture, subject to weather.
By mid-March, the company expected to have its planned drilling program underway at the Hardway, South Hope, and Mascotte regions of Mt Isa.
Hammer’s Mt Isa project comprises 5 copper-gold resources and several early-stage greenfield projects. The company wholly owns all resources in the area except for the Jubilee deposit, of which it owns 51% in a JV with Glencore (LON:GLEN).
Images: Hammer Metals
