- Hammer Metals (HMX) gets the final batch of results from drilling at the Lakeview prospect within the Mount Isa project in Queensland
- Drilling has intersected further copper and gold mineralisation which HMX finds encouraging ahead of an upcoming drill program
- Unfortunately for Hammer, it has experienced rig delays but remains hopeful it can restart drilling this month
- Company shares are down 16.4 per cent to trade at 5.1 cents
Hammer Metals (HMX) has received the final batch of results from drilling at the Lakeview prospect within the Mount Isa project in Queensland.
These latest results come from follow-up drilling conducted in July at the Lakeview prospect to test for extensional mineralisation.
Best results include 32 metres at 0.49 per cent copper and 0.17 grams of gold per tonne (g/t) from 17 metres including four metres at 1.8 per cent copper and 0.36g/t gold from 41 metres, three metres at 1.32 per cent copper and 0.41g/t gold from 18 metres, and three metres at 1.12 per cent copper and 0.2g/t gold from 96 metres.
Managing Director Daniel Thomas commented on the results.
“These results mark the conclusion of a program that successfully identified copper/gold mineralisation at six of the seven targets that we tested,” he said.
“In particular, the mineralisation observed at Lakeview and Neptune is encouraging with these areas generating some great prospects for our upcoming follow-up program.”
Hammer Metals is now preparing to restart drilling at the project to target the Sunset, Lakeview, and Neptune prospects. It will also return to drilling at the copper, gold, molybdenum and rhenium JORC resource at Kalma which will aim to test for mineralisation at shallow depths.
Adversely, the company has faced some rig delays but remains hopeful it can start drilling some time this month.
Company shares were down 16.4 per cent to trade at 5.1 cents at 11:30 am AEDT.