Hammer Metals (ASX:HMX) is expecting to undertake drilling at the Mount Isa East joint venture (JV) in Queensland during this month and January 2024.
The $44.32 million market capitalisation company will conduct drilling at the Hardway, South Hope, and Mascotte prospects with a reverse circulation (RC) drilling program at the Yandal Lithium Project in Western Australia to also be undertaken in Q1 2024..
Meanwhile today (4 December 2023), Hammer announces recent drilling results returned from the South Hope and Mt Mascotte prospects have offered ‘great’ opportunities for the follow-up program next year.
At the South Hope and Mt Mascotte prospects, drilling has consisted of 3 holes for 466m aimed to test beneath existing ‘high-grade’ intercepts and also test the down-plunge continuation of the South Hope shoot.
The company reports ‘significant’ intercepts from South Hope include hole HMHSRC011 with 14m @ 3.34% copper (Cu) and 0.72 grams per tonne (g/t) gold (Au) from 113m, within a broader envelope of 34m @ 2.5% Cu and 0.49g/t Au.
Hammer has received a preliminary interpretation of down-hole electromagnetic (EM) conducted on hole HMHSRC011. The EM indicates a continuation of a steeply south-plunging conductor at the prospect.
Meanwhile at Mt Mascotte, a single follow-up hole (HMMARC009) was drilled which returned 4m @ 2.82% Cu and 3.84g/t Au from 104m.
This intersection has potential along strike to the south and Hammer anticipates that further extensional drilling will be planned.
Hammer Metals Managing Director Daniel Thomas says the ‘high-grade’ nature at both prospects provide further evidence of the ‘attractiveness’ of South Hope and Mt Mascotte.
“As the copper inventories of the region grow, these prospects offer good grades of mineralisation close to surface and will provide opportunities for future development of the deposits in the region.”
Hammer Metals is an active mineral explorer that has a tenement position covering 3,000km-square within the Mount Isa mining district.
As of 30 September 2023, the company had $3.4 million cash at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Hammer Metals