The second phase of RC drilling has been completed at the Jubilee Copper-Gold Prospect located within the Mt Frosty Joint Venture with MIM. The program is designed to follow-up the significant copper and gold results returned from Hammer’s recent drilling program completed late 2017. (Refer to ASX release dated December 20 2017.)
Significant copper-gold intercepts included:
Hammer Metals Limited (Hammer or the Company) (ASX: HMX) is pleased to advise that the second drilling program has been completed at the Jubilee copper-gold target.
A program of 14 holes for 1,559 metres has been completed. The program was designed to both infill and extend the high-grade copper-gold mineralisation intercepted in the previous program.
Of particular interest the northernmost line of drilling included the intersection of 4 metres at 6.27% Cu and 0.7g/t Au from 59 metres, indicating the strong potential to extend the copper-gold system to the north.
The Mt Frosty Joint Venture over EPM 14467 is located adjacent to the Mary Kathleen Uranium Mine, 60 kilometres east of Mount Isa and covers the Mary Kathleen Shear Zone that hosts several copper-gold, uranium and REE prospects including Jubilee, Koppany and Blue Caesar.The Jubilee prospect is located within 2 kilometres of the sealed Barkly Highway midway between Mount Isa and Cloncurry.
Under the terms of the Joint Venture Agreement with Mount Isa Mines Limited (MIM - a 100% owned subsidiary of Glencore PLC) each Party to the Joint Venture will contribute exploration expenditure according to their participating interest (HMX - 51% / MIM – 49%). Hammer is managing the exploration activities.
Hammer Metals Limited (ASX: HMX) holds a strategic tenement position covering approximately 3000km2 within the Mount Isa mining district, with 100% interests in the Kalman (Cu-Au-Mo-Re) deposit, the Overlander North and Overlander South (Cu-Co) deposits, the Millennium (Cu-Co-Au) deposit as well as the recently acquired Elaine-Dorothy (Cu-Au) deposit. Hammer is an active mineral explorer, focused on discovering large copper-gold deposits of the Ernest Henry style and has a range of prospective targets at various stages of testing.
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