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Hammer Metals Ltd.
Summary
| Project: | Overlander | |
|---|---|---|
| Deposit: | Overlander Central | |
| Location: | Australia | |
| Commodities: | Copper-Gold-Cobalt | |
| Date: | 6/4/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 4-6-2018: Hammer Metals Ltd. announces an Exploration/Drilling Update report for its Overlander Central deposit at the Overlander project. Drilling results incl. 117m @ 0.35% Cu from 43m. In December 2015, Hammer announced a joint venture with Newmont Exp | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Mark Whittle (Independent) | |
| ABSTRACT: | In December 2015, Hammer announced a joint venture with Newmont Exploration Australia Pty Ltd (Newmont) over three specific target areas covering approximately 10% of Hammer’s 3200km2 tenement holding at Mount Isa. Over the past two years Newmont and Hammer have conducted an active exploration program culminating in the drilling of two large IOCG targets at Overlander North and Dronfield, intercepting highly encouraging IOCG alteration and low-grade copper mineralisation in both areas. Newmont has however elected not to continue funding exploration of the targets and the projects will revert to Hammer’s ownership. Mr Alex Hewlett, Executive Director of Hammer noted; “Newmont has been an excellent partner throughout this undertaking, allowing Hammer to significantly advance our understanding of the JV targets – particularly the large mineralised system at Overlander. “The negotiated conclusion of the joint venture will leave Hammer with unfettered rights to pursue several untested exploration opportunities in the former farm-in areas as well as continue with the exploration of our large portfolio of prospects at Mount Isa.” “Infill and extensional drilling is set to recommence in early June at the Jubilee copper-gold deposit in joint venture with MIM Limited, and results are expected shortly from the recently completed diamond drilling program on the Millennium cobalt-copper deposit.” | |
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