- Hammer Metals (HMX) announces high-grade copper results and identifies new conductors at the Ajax East and Pearl prospects in Queensland’s Mt Isa region
- Recent drilling confirmed three copper sulphide zones which returned assays of up to 7.31 per cent copper over 0.75 metres and 1.1 per cent copper over five metres
- Subsequent survey work extended the prospective horizon at the prospect to over one kilometres of strike and 400 metres down-dip
- Additionally, a new cluster of conductors have been found at the nearby Pearl prospect which are believed to reflect sulphide zones at depth and follow-up drilling is planned
- Company shares are up 2.17 per cent to trade at 4.7 cents at 12:20 pm AEST
Hammer Metals (HMX) has released some new results from drilling and geophysical survey work at its Ajax East prospect in Queensland’s Mt Isa region.
Recent drilling successfully intersected high-grade copper in the first diamond hole at Ajax East, with assays confirming three zones of copper sulphides in HMLVDD001.
Assays include 0.75 metres at 7.31 per cent copper and 0.21 grams per tonne (g/t) gold from 181.6 metres, five metres at 1.1 per cent copper from 293.6 metres including 0.75 metres at 4.73 per cent copper and 0.25 per cent nickel from 342.1 metres.
Subsequent electromagnetic (EM) survey work extended the prospective horizon along the Ajax East trend to over one kilometres of strike and 400 metres down-dip.
This horizon remains open to the north and potentially to the south within the Mt Isa East joint venture (JV) area which is held with Sumitomo Metal Mining Oceania.
Mapping and sampling has also further validated the copper prospectivity of this trend with over 40 per cent of soil samples returning assays greater than 500 parts per million (ppm) copper.
“This is a tremendous result from our first drill hole in what is emerging as a high-impact exploration target at Ajax East, confirming the presence of high-grade copper sulphides assaying up to seven per cent copper,” Managing Director Daniel Thomas said.
“The encouraging results from recent EM surveys have also opened up a two-kilometre-long target zone encompassing prospects at Ajax East and the neighbouring Pearl prospect,” he added.
In addition, fixed loop EM surveys at the Pearl prospect, which lies two kilometres from Ajax East on the same trend, have identified a cluster of conductors. Based on its experience at Ajax, the company believes the conductors at Pearl reflect sulphide zones at depth.
Hammer Metals is now undertaking soil sampling as part of a broader survey over the Trafalgar trend where the Pearl and Ajax East prospects are located.
Following this, the company will conduct a five-kilometre reverse circulation drilling program which is expected to begin next month.
Company shares were up 2.17 per cent to trade at 4.7 cents at 12:20 pm AEST.