Hammer Metals Ltd (ASX:HMX) has received assay results from first three (of nine) drill holes in extensional drilling at the Lakeview Prospect from its Mount Isa Project drilling programme in Queensland.
The results include high-grade copper intercept of 18m at 1.70% Cu and 0.49g/t Au from 61m, including: 5m @ 4.17% Cu and 1.04g/t Au from 62m.
“Our recent drilling programme in Mount Isa continues to deliver substantial copper-gold intersections,” Managing Director, Daniel Thomas, said.
“This programme scouted seven different prospects, with significant mineralisation observed at six of the target zones. These results continue to highlight the prospective nature of the Mount Isa region and the opportunity for our assets to contribute to the future copper supply from this region.
“The prospective corridor running from Neptune through Trafalgar, Lakeview and up to our JORC compliant copper and gold resources at Elaine and Jubilee is proving to be fertile for further copper and gold mineralisation.
“With sustained higher copper prices and a growing copper inventory, Hammer remains well placed to continue its journey from exploration to base metal development company.
“With results still pending from our most recent program in Mount Isa, upcoming drilling programmes in Mount Isa and at our Bronzewing South gold project, Hammer is set for a busy and productive end to 2021.”
Four holes were initially drilled at Lakeview (for 300m) and this drilling was sufficiently encouraging to follow up with a further nine holes (for 1080m) to determine whether the prospect had mineralisation continuity sufficient to progress to a resource drill-out. To date, assays for the first three holes of this additional drilling have been received.
Three holes for 734m were drilled at Overlander North. Two of these holes were testing the southern margin of the Overlander IOCG target and the remaining hole tested the northern extents of a large tonnage rhyolite breccia target.
At Kalman West, three holes (for 487m) were drilled with a single 300m hole testing an MT and VTEM target and the two remaining holes testing the recent discovery of visible gold. (See ASX announcement dated 26 July 2021).
At Serendipity, two holes (for 244m) were designed to test a quartzite unit with an anomalous Cu and Au soil response close to the Pilgrim Fault zone.
Lakeview Update
The initial three-hole (300m) program was successful in delineating mineralisation and a second nine-hole (1080m) program was completed to further investigate mineralisation at depth (refer to ASX announcement dated 22 June 2021). The aim of this follow-up drilling was to determine whether a Cu-Au resource could be defined at Lakeview to add to Hammer’s existing mineral resource inventory.
After considerable delays in receiving results from the assay laboratory, the results for 3 of the 9-hole follow- up program have been received. Significant intercepts from these three holes include:
• 18m at 1.7% Cu and 0.49g/t Au from 61m in HMLVRC005, including; 5m at 4.17% Cu and 1.04g/t Au from 61m;
• 13m at 0.59% Cu and 0.15g/t Au from 66m in HMLVRC007, including 1m at 1.42% Cu and 0.46g/t Au from 77m; and
• 3m at 1.73% Cu and 1.42g/t Au from 147m in HMLVRC007. For further information please visit: https://www.hammermetals.com.au/
