- Hammer Metals (HMX) launches a major new drilling campaign at its Mt Isa copper-gold project in Queensland
- The new phase of exploration involves reverse circulation drilling at its wholly-owned Ajax prospect, which will be followed by further drilling at Kalman, South Hope and Mascotte
- The company is currently processing data from its aeromagnetic and gravity surveys, with new drill targets expected to emerge as a result
- Meanwhile, Hammer has further strengthened its exploration footprint after securing a highly prospective tenement to the west of its Mount Hope landholding
- Hammer Metals last traded at 6.6 cents on August 12
Hammer Metals (HMX) has launched a major new drilling campaign at its Mt Isa copper-gold project in Queensland.
The new phase of exploration involves reverse circulation (RC) drilling at its wholly-owned Ajax prospect over the next few weeks. The company has planned to drill eight holes for roughly 1730 metres to assess electromagnetic targets along the Ajax and Ajax East trends.
The holes will test the conductor along its one-kilometre strike length where copper intercepts were previously encountered, returning 11 metres at five per cent copper and 2.5 grams of gold per tonne (g/t gold) from 24 metres.
This will be followed by further drilling at Kalman, South Hope and Mascotte.
Hammer is currently processing data from its recently-completed aeromagnetic and gravity surveys, with new drill targets expected to emerge as a result.
“Work programs focusing on our southern targets are increasing, with an RC program designed to test several old workings for the first time,” Hammer Managing Director Daniel Thomas said.
“In addition to the upcoming stream of drilling news, I expect that our extensive geophysical programs (IP, VTEM, gravity and magnetics) will continue to deliver new and exciting targets as the data from these surveys is processed.”
Hammer said the program was expected to provide a steady stream of newsflow through to the end of 2022.
Meanwhile, Hammer has also been notified that it has become the prioritised applicant for a highly prospective tenement, along-trend of Carnaby Resources’ (CNB) Lady Fanny and Nil Desperandum copper discoveries and directly west of its own Mount Hope tenement.
“I’m really pleased that Hammer has been able to secure additional tenure in a highly prospective copper district, located directly along-trend from significant recent copper discoveries,” Mr Thomas said.
“Once again, our team has been able to secure highly sought-after exploration ground in the Mt Isa district with low/minimal expenditure.”
Hammer Metals last traded at 6.6 cents on August 12.