Hammer Metals (ASX:HMX) is getting ready to embark on its third drilling program in July 2023 at the Mt Isa Project in northwest Queensland, Australia.
The program will comprise further drilling at the South Hope, Hardway, and Overlander Central prospects, with new targets to be tested at the Kalman North, Tourist Zone, Bulonga, and Pommern targets.
Hammer adds that the Mt Isa East joint venture (JV) program with Sumitomo Metal Mining is ongoing, with geochemical and geophysical surveys planned within the coming months.
This announcement comes after Hammer released its initial results from follow-up drilling at the South Hope prospect, where drilling is continuing to define shallow and ‘high-grade’ copper mineralisation.
Hammer reports the first results from the 9-hole, 1,188m reverse circulation (RC) program include hole HMHSRC007 with 15m @ 3.47% Cu and 0.7g/t Au from 44m, within a broader zone of 56m @ 1.12% Cu and 0.2g/t Au from 18m, including 2m @ 12.4% Cu and 0.9g/t Au from 46m.
Commenting on the results, Hammer Metals Managing Director Daniel Thomas says: “These exciting new results have further expanded the Hope South prospect while also demonstrating the high-grade potential of the copper-gold systems in this region.
We look forward to receiving assays from our other targets across the region and the additional drilling completed at South Hope.
“Hammer has a strong position surrounding the Mount Hope Mining Lease, and we are continuing to review the potential at depth on the EPM boundary in light of nearby high-grade copper intercepts”
Hammer has a strong position surrounding the Mount Hope Mining Lease, and we are continuing to review the potential at depth on the EPM boundary in light of nearby high-grade copper intercepts.”
The company says the drilling program was designed to build on results achieved during a previous program.
Additional assay results from the rest of the holes completed during the program are anticipated to be returned during July 2023.
Hammer Metals is an active mineral explorer focused on discovering ‘large’ copper-gold deposits of Ernest Henry style and has a range of prospective targets at various stages of testing.
As of 31 March 2023, Hammer Metals had $2.6 million cash at hand, which included $0.04 million held on behalf of its joint ventures, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Hammer Metals Ltd
