- Hammer Metals (HMX) and its three way partnership associate Japan Oil, Gasoline and Metals Nationwide Company (JOGMEC) will increase on exploration on the Mount Isa Copper-Gold Venture in Queensland
- It follows optimistic outcomes from drilling, together with from two holes on the Shadow prospect, which revealed a large zone of copper mineralisation
- As such, Hammer Metals and JOGMEC have determined to increase upon exploration within the space
- Nonetheless, the newest drill gap on the Toby prospect failed to elucidate the presence of conductors and a downhole electromagnetic (EM) program shall be carried out on the three just lately drilled holes on the prospect
- In the meantime, drilling on the Kathleen Uncommon Earth Factor and Copper prospect intersected seen allanite, with outcomes to develop into obtainable within the coming weeks
- Shares in HMX are regular at market open, priced at 4.Four cents per share
Hammer Metals (HMX) will increase on exploration on the Mount Isa Copper-Gold Venture in Queensland following optimistic drilling outcomes.
Two holes on the Shadow prospect revealed a large zone of copper mineralisation related to breccia, and on the margin of the breccia, a silicified magnetite alteration zone.
Within the first gap, HMSHDD001, Hammer intersected an 83-metre part at a mean of 0.13 per cent copper from 81 metres.
Within the second gap, HMSHDD002, an intercept of 106 metres at 0.10 per cent copper was recorded from 44 metres.
As such, Hammer Metals and its three way partnership associate — Japan Oil, Gasoline and Metals Nationwide Company (JOGMEC) – have determined to increase upon deliberate exploration within the space as Managing Director Daniel Thomas defined.
“The outcomes from this primary drilling marketing campaign present confidence we are able to ship on the potential that we consider the in depth Mt Philp mineral system incorporates. The intersection of a broad system of mineralisation at Shadow could be very encouraging and the Joint Enterprise is dedicated to persevering with close by exploration within the seek for a big scale financial IOCG deposit,” Daniel acknowledged.
“Importantly, the outcomes have but to elucidate a few of our earlier observations such because the high-grade copper and gold floor samples at Shadow and the robust EM anomalies at Toby,” he continued.
“JOGMEC and Hammer have just lately agreed to upscale this 12 months’s exploration program at Shadow and inside the surrounding breccia models, while additionally persevering with our focusing on efforts inside the broader Joint Enterprise areas,” the managing director defined.
Nonetheless, drilling on the Toby prospect failed to elucidate the presence of heliborne and floor electromagnetic (EM) conductors famous in earlier exploration.
A downhole EM program shall be carried out on the three just lately drilled holes on the Toby prospect.
In the meantime, drilling was additionally carried out on the Kathleen Uncommon Earth Factor and Copper prospect, southeast of the historic Mary Kathleen mine, with outcomes anticipated in coming weeks.
“We sit up for receiving the assays from our drilling at Koppany and it has been actually pleasing to watch each uncommon earth and copper mineralisation within the drill core,” Daniel concluded.
Shares in HMX are regular at market open, priced at 4.Four cents per share at 10:08 am AEST.