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Hammer Metals Ltd.
Summary
| Project: | Mt Frosty JV | |
|---|---|---|
| Deposit: | Black Rock | |
| Location: | Australia | |
| Commodities: | Copper-Gold-Cobalt | |
| Date: | 1/24/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 24-1-2019: Hammer Metals Ltd. announces a Resource Estimation report for its Black Rock deposit at the Mt Frosty JV project. Exploration target for Black rock deposit. Results for the first pass RC drilling program at Perentie were received. 1329m in 15 h | |
| Resources: | Exploration Target: 5 - 15Mt @ 0.5% - 1% Cu at Black Rock | |
| CP/QP: | [Overall Report]: Mark Whittle (Independent) | |
| ABSTRACT: | Results for the first pass RC drilling program at Perentie were received. 1329m in 15 holes were drilled at the Judith, Paddy B and Trackside prospects. The strong SAM anomaly and structural target at Susan was unfortunately not able to be tested due to access issues. The holes were sited to provide a preliminary test of the rock chips highly anomalous in copper and gold and the coincident SAM anomalies in EPM 18084 (80% HMX) located and reported by Hammer last year. (Refer to ASX releases dated August 15th, August 22nd, September 3rd and October 11th.) Significant results included 2m at 2.36% Cu and 2g/t Au at Trackside and 2m at 2.42% Cu including 1m at 4.21% Cu and 0.13g/t Au at Paddy B (Table 1). No results above 1% Cu were returned from the four holes drilled at Judith. The copper and gold mineralized zones are associated with strongly altered, and in places brecciated granite which coincide with the SAM anomalies and magnetic lows. Significant widths of strong red-rock alteration with low levels of copper anomalism were intercepted along with IOCG indicator elements including molybdenum and the rare earth lanthanum at all prospects. Hammer’s Chairman, Russell Davis said: “For a first-pass program that tested 3 of the 30 targets identified at Perentie the drilling is considered encouraging and has confirmed the exploration concept. The greater Dronfield area is a regionally significant zone of alteration and widespread copper-gold anomalism and we look forward to advancing this project area further. In the meantime, assessment of the recently acquired Black Rock project near Mary Kathleen highlights its significant potential for bulk tonnage copper-gold mineralisation similar to the Elaine deposit 5km to the east. The addition of the nearby higher-grade Jubilee deposit to Hammer’s resource inventory brands Hammer’s Mary Kathleen project area as a priority. Hammer has now built up the dominant tenement position in the Mary Kathleen district, a highly mineralised and prospective terrain for copper and gold around the Mary Kathleen uranium and rare earth deposit.” | |
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