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Hammer Metals Ltd.
Summary
| Project: | Mount Isa | |
|---|---|---|
| Deposit: | Dronfield | |
| Location: | Australia | |
| Commodities: | Gold-Copper | |
| Date: | 7/28/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 28-7-2017: Hammer Metals Ltd. announces an Exploration/Drilling Update report for its Dronfield deposit at the Mount Isa project. Drilling results incl. 12m @ 1062ppm Cu, 4ppb Au from 297m. Hammer Metals Limited (Hammer or the Company) (ASX: HMX) wishes t | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Mark Whittle (Internal) | |
| ABSTRACT: | Hammer Metals Limited (Hammer or the Company) (ASX: HMX) wishes to provide an update on current exploration activities over its Mount Isa Project in Northwest Queensland. The Dronfield RC and diamond drilling program to test the western and eastern geophysical anomalies was completed and final assays received. Strong magnetite veining and alteration with sporadic lowgrade copper mineralisation intersected in each hole coincident with the geophysical anomalies. The three-hole diamond and RC drilling program at the Dronfield copper-gold project southeast of Mount Isa was completed in mid-July. A total of 1010 metres of diamond and 246 m of RC were drilled in the three holes. The Dronfield targets are located 25km southeast of Kalman on EPM 18084, which is subject to a farm-in agreement with Kabiri Resources Pty Ltd. Hammer has earned an 80% interest in EPM 18084 from Kabiri by spending $250,000 on exploration. The tenement forms part of the Farm-in and Joint Venture Agreement with Newmont Exploration Pty Ltd. This drilling will be partially subsidised by a $100,000 Collaborative Drilling Initiative (“CDI”) Funding Grant from the Queensland Department of Natural Resources. The first two (diamond) holes tested the western geophysical anomaly and the third RC hole tested the eastern geophysical anomaly. Both diamond holes, HDD001 (537m) and HDD002 (473m) intersected strongly magnetite-actinolite and red rock altered granodiorite of the Wimberu Granite (part of the Williams Batholith) over large parts of the hole. The alteration is consistent with other IOCG deposits in the region. Sulphide mineralisation where present is dominantly pyrite-chalcopyrite with levels generally ranging between trace to 1% with thin zones where the total sulphide content can approach 5% in total. HDRC004, which was drilled into the eastern anomaly, intersected magnetite and red rock altered granodiorite with microgranite lenses. | |
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