Active mineral explorer Hammer Metals (ASX:HMX) reports it has uncovered a broad copper (Cu) sulphide system following a maiden reverse circulation (RC) drilling campaign at the Pearl prospect, as part of its Mt Isa East Joint Venture (JV) (MIEJV) project in northwest Queensland.
The results, generated by a total of 12 drillholes, have identified broad copper mineralisation in most of the drillholes over a strike length of 700m within the Pearl prospect.
Key ‘significant’ intercepts include: 68m at 0.29% Cu and 0.06g/t Au from 31m; including 1m at 2.55% Cu and 0.22g/t Au from 75m and 2m at 1.45% Cu and 0.46g/t Au from 79m (HMPLRC001), as well as 96m at 0.2% Cu and 0.03g/t Au from 156m and 22m at 0.22% Cu from surface (HMPLRC002).
Meanwhile drilling further south along the Trafalgar trend at the Victory, The Springs and Trafalgar prospects has also returned anomalous Cu mineralisation, with key intercepts including 44m at 0.29% Cu from 12m; including 2m at 1.8% Cu from 14m and 3m at 1.04% Cu from 34m (HMTRRC021).
Drilling at the Pearl prospect was designed to test a cluster of Electromagnetic (EM) plates defined earlier this year, while drilling at the Trafalgar trend targeted Induced Polarisation (IP) chargeability zones, which were announced by the company in June this year.
It is reported that drilling is still ongoing at the company’s 100%-owned prospects at Kalman, Kalman West, Ajax and Hardway.
Addressing the results, Hammer Metals Managing Director, Daniel Thomas says: “Work within the MIEJV has continued during 2022 with wide-spaced drilling delineating a large copper-gold sulphide system at Pearl. This extensive system appears to link to Hammer’s nearby 100% owned target at Ajax. The potential of the corridor from Trafalgar to Lakeview continues to evolve, with 11 out of the 12 holes drilled intersecting zones of copper-gold mineralisation across 4km of this trend.
“The potential of the corridor from Trafalgar to Lakeview continues to evolve, with 11 out of the 12 holes drilled intersecting zones of copper-gold mineralisation across 4km of this trend”
The JV continues to deploy a wide range of geophysical and geochemical programs to assist in the identification of new targets within the JV exploration areas. The 2023 work program is currently under consideration with drilling potentially scheduled to re-commence in February 2023, subject to local weather conditions.”
The company also notes that drilling at Pearl indicates that it is part of the same mineralised system as the Ajax East and Trafalgar areas, which broadens the search space and upside potential of the trend.
In addition, Hammer metals announces that a research program with the CSIRO is aiding in the definition of new large-scale Iron Oxide Copper Gold (IOCG) targets.
Hammer Metals currently holds a strategic tenement position covering about 2,600km-square within the Mt Isa mining district in northwest Queensland. The company currently holds 100% interest in the Kalman, Overlander North and South, and Elaine deposits, as well as a 51% interest in the Jubilee deposit.
Other tenements included in Hammer’s inventory include the Bronzewing South Au project in the heart of Western Australia’s highly prospective Yandal Belt.
Images: Hammer Metals Ltd
