Hammer Metals Ltd (ASX: HMX) has received final assay results confirming a significant wide zone of high-grade copper sulphide mineralisation in the first Reverse Circulation (RC) drill-hole completed at the South Hope prospect, part of its Mount Isa copper-gold portfolio in NW Queensland.
The company’s first RC programme at Mount Hope has now been successfully completed with 11 holes drilled for 1,353m of drilling across six discrete prospects.
Drilling primarily targeted zones of former copper-gold workings in addition to recently defined geophysical (Induced Polarisation) anomalies. The targets included South Hope, The Stubby, North Stubby IP Anomaly, Mascotte and Mascotte Junction. Samples have now been submitted to the laboratory with assays expected to be returned over the next 4-6 weeks.
South Hope
As previously reported in late October, RC hole HMHSRC001 intersected a broad mineralised interval composed of a quartz (+ chalcopyrite) vein within an amphibolite host. Significant portable XRF intercepts included:
Hammer has now received the laboratory analysis for this drilling with an upgrade to the copper grade reported. Assays for HMHSRC001 returned:
A DHEM survey has been conducted at HMHSRC005 with initial geophysical modelling indicating a south- plunging conductor.
Follow-up drilling at South Hope, in conjunction with the modelled EM anomaly, is expected to provide a vector to uncovering further mineralisation at South Hope. This information will be utilised to plan for a follow-up drilling program expected to commence in early 2023, subject to the conclusion of the wet season.
The confirmation of a significant copper intersection at South Hope is a great result which gives us significant encouragement about the potential of Hammer’s Mount Hope prospects. Assays are awaited for seven additional drill-holes from the region which will ensure a steady flow of news through the coming months,” Managing Director, Daniel Thomas, said.
“Drilling in the southern region of our portfolio has exceeded our expectations and we’re eagerly planning follow- up drilling for all of the prospects tested in this initial programme.
“Our drilling programme is set to continue into early December with the remaining holes being drilled at Kalman before closing out the programme with a further drill test at Ajax along with our first drilling at the new Hardway Rare Earth prospect.”
Three follow-up holes at South Hope were completed with zones of high-grade copper mineralisation confirmed in two of the holes:
There was significant clockwise deviation in HMHSRC005 which resulted in the primary target being missed. This was later confirmed by the interpretation of DHEM, which modelled a mineralised shoot located above hole HMHSRC005 and below hole HMHSRC003.
Results from the assays for HMSRC004 are still pending.
Follow-up drilling at South Hope, Stubby, Mascotte and Mascotte Junction is currently being planned. This program will most likely commence in early 2023, however Hammer is investigating contractor availability with a view to completing the program this year.