Hammer defines large IOCG targets

THE DRILL SERGEANT: Hammer Metals (ASX: HMX) has reported preliminary outcomes of an ongoing geological and geophysical review the company is conducting of the broader mineralisation styles within its Mount Isa project portfolio.

Hammer said the review, in conjunction with ongoing field programs, has so far indicated the emerging prospectivity of a number of large Iron Oxide Copper Gold (IOCG) systems in addition to the company’s Kalman copper-gold-molybdenum-rhenium deposit.

 

Hammer Metals tenement locations Mount Isa. Source: Company announcement

 

The company anticipates these systems will become the focus of future exploration to discover the type of world class IOCG ore bodies such as the Ernest Henry copper-gold deposit near Cloncurry.

The review process has led Hammer to assess various datasets for the Andy’s Hill, Overlander, and Mt Philp trend.

It has also included the Dronfield area, for which Hammer announced a farm-in agreement with Kabiri Resources in late 2013.

Hammer said it considers each of these areas to have significant technical merit for large IOCG deposits.

“The amount of previous exploration work completed to date on each target is preliminary but sufficient to demonstrate their considerable potential,” the company said in its ASX announcement.

“Work will now focus on the collection of additional geochemical and geophysical information, using gravity, magnetic and electrical methods, to advance our understanding of these targets and to enhance drill targeting.”

Hammer has recently completed a 2000 metre RC drilling at Overlander North and Overlander South as well as the Pelican, Serendipity and Python targets south of Kalman.

Samples from the drilling have been submitted to the laboratory and results are pending.

Email: info@hammermetals.com.au

Website: www.hammermetals.com.au