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Hammer Metals Ltd (ASX:HMX) is ramping up exploration work at its Mt Isa Project in Queensland, with diamond drilling set to kick off at the Hardway prospect to better define copper oxide mineralisation already identified there, and the discovery of a new copper-gold molybdenum target at Kalman East.
The drilling work at Hardway – partly funded by a $300,000 state government grant through the Collaborative Exploration Initiative (CEI) – is focusing on mineralisation beneath the prospect’s deeply weathered oxide zone, with the goal of providing strong sections through the target zone which can be used in alteration studies.
Meanwhile, soil sampling at Kalman East has picked up evidence of a new anomalous copper and molybdenum zone which is on a similar scale to the system at Kalman, and which is set for exploration through reverse circulation (RC) drilling in the coming month.
This discovery means that Kalman has two key targets proximal to it, following the previous identification of an end-of-hole gold anomaly at Kalman North.
In addition to this news, Hammer has also announced a spate of results from its Mount Isa Joint Venture with Sumitomo Metal Mining Oceania, where work has concentrated on geological reconnaissance at Malbon and Jimmy Creek, with top analyses of 7.38 grams per tonne of gold and 10.85 percent copper at Jimmy Creek, and 2.19 grams per tonne of gold and 5.26 percent copper at Pickle (Even Steven South).
However, exploration drilling at Shadow South picked up no significant intersections of copper, with minor gold and copper anomalism.
Managing director Daniel Thomas said Hammer’s exploration team would be busy delineating the Hardway system and pinning down the mineralisation at its new discovery near Kalman.
“The diamond drilling currently underway at Hardway will help build our knowledge and understanding of the widespread copper oxide mineralisation now observed across a 1.2km strike length,” he said.
“The Hardway system remains unique in terms of the mineralisation observed, with multiple phases of fluid likely to have deposited the copper and rare earth mineralisation in separate mineralisation events.
“Assays from this program will provide an important insight into the structure and controls over the mineralisation, helping us to zero in on the most prospective zones.
“We’re also very excited to see new targets emerge in the Kalman area – which remains lightly explored despite being one of the more significant mineral systems in the Mount Isa Inlier and offering great prospectivity for further mineral discoveries. Basic follow-up work of historical soil anomalies has shown a significant copper molybdenum soil anomaly located just 2km from Kalman.”
Hammer has been trading at 3.5 cents.
