THE DRILL SERGEANT: Hammer Metals (ASX: HMX) released laboratory assay results for a previously reported high-grade copper-gold sulphide intercept at the 100 per cent- owned Ajax prospect, within the company’s Mt Isa exploration portfolio in northwest Queensland.
Hammer Metals explained the lab results to have upgraded the previously reported p-XRF intercept at the Ajax prospect, returning assay results of:
11 metres at 5 per cent copper and 2.5 grams per tonne gold from 24m, within a broader interval of 16m at 3.5 per cent copper and 1.8g/t gold from 22m.
“It’s extremely pleasing to see a significant upgrade to the preliminary assay results at Ajax,” Hammer Metals managing director Daniel Thomas said in the company’s ASX announcement.
“Copper grades above five per cent are rare, especially with the potential relationship of this intercept to a nearby sizeable geophysical target.
“Given the absence of graphite in the immediate area, the conductor may represent a prospective sulphide horizon.
“The corresponding strong copper and gold geochemistry at surface presents Ajax as one of the more exceptional exploration targets that I have observed.
“Another high-quality target has now been added to our drilling sequence.”
Hammer indicated the identified mineral horizon at Ajax defined by hole HMLVRC014 will be followed up with drilling along strike and at depth to determine the potential geometry of the system.
The testing of the EM target zone to the east of Ajax has been prioritised with Hammer undertaking additional cultural clearances and finalising its land access arrangements.
The hole will be tested with diamond drilling with initial indications that drilling will commence once landholder negotiations have been finalised.
TO READ THE FULL ANNOUNCEMENT: CLICK HERE