THE DRILL SERGEANT: Hammer Metals (ASX: HMX) provided an update on recent activity at the company’s Mt Isa East Joint Venture with Sumitomo Metal Mining Oceania.
Hammer Metals reported a restricted drilling program at the Trafalgar deposit has confirmed extension of mineralisation to the north with new zones of mineralisation to the west of the deposit.
16m at 0.88 per cent copper and 0.34 grams per tonne gold from 192m, including 9m at 1.28 per cent copper and 0.5g/t gold from 195m;
19m at 0.70 per cent copper and 0.17g/t gold from 117m, including 6m at 1.58 per cent copper and 0.38g/t gold from 126m; and
35m at 0.42 per cent copper and 0.07g/t gold from 175m, including 6m at 1.15 per cent copper and 0.2g/t gold from 185m.
Hamer also completed detailed geological mapping along the Trafalgar trend that identified the presence of an extensive red rock-magnetite alteration zone spanning the central mineralised trend and extends along strike for 2.7 kilometres.
The company also reported the completion of the transfer of the Joint Venture between Japan Oil, Gas and Metals National Corporation (JOGMEC) and Sumitomo Metal Mining Oceania.
“With a limited budget and work program in place during the transfer of the Mount Isa East Joint Venture to SMMO, drilling has successfully extended mineralisation to the north of Trafalgar with new zones of mineralisation being identified to the west,” Hammer Metals managing director Daniel Thomas said in the company’s ASX announcement.
“Following the recent completion of the transfer of the JV, Hammer has now recommenced an aggressive exploration program pursuing mineralised zones along the four-kilometre trend at Trafalgar and elsewhere within the JV area.
“Several exciting targets remain to be tested with targeting being refined in the coming weeks with detailed geophysical and geochemical surveys.
“We continue to see long delays associated with laboratory turnaround times, with results still pending from Hammer’s drilling at its 100 per cent-owned prospects at Overlander, Serendipity, Kalman West and follow up drilling at Lakeview.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE