Hammer Metals identifies new Mt Isa IOCG corridor

THE DRILL SERGEANT: Hammer Metals (ASX: HMX) has claimed to have defined a new iron oxide copper-gold (IOCG) corridor from a recent program conducted at the company’s Mount Isa project.

Hammer said its exploration program has defined what it believes to be a major new IOCG corridor extending from Mount Philp in the north through to Overlander, Andy’s Hill and Scalper in the south.

 

Project location. Source: Company announcement

 

The company has carried out preliminary 2D and 3D modelling of detailed gravity and high-resolution aeromagnetic data from its 100 per cent-owned Andy’s Hill and Overlander North prospects, which it said has enhanced the prospectivity of these targets.

Modelling of new gravity and magnetic data from the Dronfield IOCG prospect, located 25km to the southeast of Overlander is currently in progress.

Hammer anticipates to be able to report results from this work within the current quarter.

“Following on from the recently announced drilling results at Overlander North, Kalman and Scalper, the modelling of the new geophysical data has further enhanced our understanding of our IOCG target areas with exciting results,” Hammer Metals chief executive officer Alex Hewlett said in the company’s announcement to the Australian Securities Exchange.

“Hammer’s Mount Isa tenement holdings cover a range of large altered and mineralized systems with key characteristics of IOCG deposits.

“The results of this work will help focus the next phase of exploration in this emerging province.”

Website: www.hammermetals.com.au