Join our daily newsletter At The Bell to receive exclusive market insights
- Hammer Metals (HMX) has received results from its recent diamond drilling program at the Koppany Copper and Rare Earth Element (REE) prospect
- The 507-metre drilling program was funded by the Queensland State Government Collaborative Exploration Initiative (CEI) to drill test the rare earth mineralisation in two drill holes
- Both holes intersected REE mineralisation and significant intercepts include 26 metres at 0.39 per cent total rare earth oxides plus yttrium
- Downhole electromagnetic has been conducted at hole two and processing is underway
- Additionally, Hammer will immediately commence a gold soil sampling program at its Tick Hill mine
- Hammer Metals is up 5.13 per cent on the market this afternoon and is trading for 4.1 cents per share
Hammer Metals (HMX) has received results from its recent diamond drilling program at the Koppany Copper and Rare Earth Element (REE) prospect.
Koppany is located southeast of the historic Mary Lathleen mine in Queensland.
The 507-metre drilling program was funded by the Queensland State Government Collaborative Exploration Initiative (CEI). The grant was to drill test the rare earth mineralisation in two drill holes, HMKPDD001 and HMKPDD002.
Both holes intersected REE mineralisation, with significant intercepts with hole two, HMKPDD002, intersecting 26 metres at 0.39 per cent total rare earth oxides plus yttrium (TREOY), from 112 metres, including three metres at 1.23 per cent TREOY.
Downhole electromagnetic has been conducted at hole two and processing is underway.
“The REE diamond drilling programme at Koppany conducted with the support of the Queensland Government’s Critical Minerals CEI confirmed the presence of broad zones of REE mineralisation as well as an adjacent zone of copper mineralisation,” Managing Director Daniel Thomas said.
“These results are currently being compiled and reviewed to determine the next steps at this interesting prospect,” he added.
Additionally, Hammer will immediately commence a gold soil sampling program at its Tick Hill mine.
“The tenure that we have near the former Tick Hill mine has not been systematically explored and presents a unique opportunity for Hammer to continue progressing our efforts in advancing grassroots exploration concepts within the Mount Isa region,” Daniel told the market.
Hammer Metals is up 5.13 per cent on the market this afternoon and is trading for 4.1 cents per share at 1:17 pm AEST.
