Hammer enhances Kalman open pit potential
THE DRILL SERGEANT: Hammer Metals (ASX: HMX) reported the thickest and highest grade molybdenum-rhenium intersection yet from the company’s 100 per cent-owned Kalman copper-gold-molybdenum-rhenium deposit.
The hole (K132) was part of a recently-completed Reverse Circulation (RC) drilling program consisting of 10 holes at the Kalman, Overlander North, Dronfield, Even Steven and Trafalgar prospects near Mount Isa in North West Queensland.
K132 was designed to infill a poorly tested section of the upper part of the main ore shoot at Kalman.
Results from K132 include:
62 metres at 0.65 per cent molybdenum, 11.4g/t rhenium, 0.16 per cent copper, 0.07g/t gold and 1.5g/t silver (62 m at 4.3 per cent copper equivalent) from 152m, including 7m at 3.44 per cent molybdenum, 57g/t rhenium, 0.33 per cent copper, 0.16g/t gold and 5.5g/t silver (7m at 21.8 per cent copper equivalent) from 206m;
11m at 1.20 per cent copper and 0.41g/t gold from 55m;
26m at 0.60 per cent copper and 0.22g/t gold from 112m; and
4m at 0.37 per cent molybdenum and 5.9g/t rhenium from 268m.
Project locations. Source: Company announcement
“Our positive drilling results from our 10o per cent-owned Kalman deposit further demonstrate the substantial potential of our Mount Isa projects,” Hammer Metals executive director Alexander Hewlett said in the company’s announcement to the Australian Securities Exchange.
“This very encouraging result at Kalman reinforces the robustness of this significant deposit.
“Given the high-grade (and high value) of this mineralisation and with the currrent relatively wide-spaced drill pattern there is considerable potential to extend this zone both closer to surface and laterally with further drilling.
“The impact of this discovery on the economics of open pit mining could be significant.”
Two holes were drilled in the Kalman area (K131 and K132).
K132 was designed to infill a poorly tested section of the upper part of the main ore shoot at Kalman and K131 to test for potential strike extensions at the northern end of the deposit.
The results for K131 are still awaited.
The Kalman copper-gold-molybdenum-rhenium deposit is located 60 kilometres southeast of Mount Isa and is 100 per cent-owned by Hammer Metals.
The Kalman Mineral Resource Estimate was updated in March 2014 in accordance with the JORC Code 2012.
The Resource comprises a combined 30 million tonnes at 1.3 per cent copper equivalent (CuEq) at 0.54 per cent copper, 0.28 per cent gold, 0.08 per cent molybdenum and 2.2 grams per tonne rhenium in the Inferred category.
Website: www.hammermetals.com.au