Hammer Metals Ltd (ASX:HMX) is moving quickly to follow up its promising drilling success at the Mt Isa Copper Project in Queensland with planning for the start of a significant drilling campaign in April.
Following the discovery of the Trafalgar Copper gold deposit, the company has accelerated its review of the mineral potential surrounding Trafalgar. Several field visits and a historical data review has highlighted several targets in the region and planning for upcoming drill testing has advanced.
Managing Director, Daniel Thomas, saiddrill ready targets at Kings, Charlotte, Serendipity and Lakeview are expected to be tested in the drilling programme commencing in April. Targets at Blackrock, Sunset and Neptune will be considered for a second phase drilling programme later this year.
In the Mount Isa East JOGMEC Joint Venture area, final assays for drilling conducted in December 2020 and January 2021 have been received. This programme included the first holes drilled into the Trafalgar copper gold discovery announced in January and February 2021. The Joint Venture is examining the best path forward for the prospect. Additional drilling was conducted at the Alpha, Charlie, Juliett, Shadow, and Toby East prospects with results reported herein.
This drilling programme completes the second-year programme (Program Year End – 31 March 2021) for the JOGMEC JV. Under the terms of the Joint Venture, Japan Oil, Gas and Metals National Corporation (JOGMEC) is required to expend a minimum of $1 million in exploration expenditure in the third year of the program. JOGMEC does not earn an interest in the project until it has incurred $6 million in exploration expenditure. The Joint Venture is in active discussion in relation to the third-year work programme.
After a tremendous start to our year in Mount Isa, the team is eager to return and aggressively explore the trends surrounding the Trafalgar discovery,” Mr Thomas said.
“The magnetic trends that extend from the northern extent of our JOGMEC Joint Venture area continue through to Hammer’s JORC defined resources at Jubilee and Elaine.
“Further copper prospectivity is illustrated in various surface copper expressions along this trend and continue up through to our Sunset and Blackrock prospects. These areas have the potential to contribute resources to the Trafalgar discovery and set the company for an aggressive and exciting exploration programme in Mount Isa in 2021.
“Ready to drill prospects at Lake View, Kings, Charlotte and Alice will be tested in a program commencing in April whilst we continue to evolve our exploration targets through a combination of historical data reviews and on ground reconnaissance along and around the prospective Trafalgar trend.”
The Trafalgar mineralised trend is defined by extensive copper-gold soil anomalism, strong magnetic responses and multiple historic workings over a significant strike length. Based on Hammer’s review the trend has been subject to little systematic exploration. The scale of the mineralised system and the nature of the alteration and mineralisation present provides encouragement for locating new copper-gold zones along the trend.
Within the Mt Isa East Joint Venture this trend is exposed for 6.5km. The trend extends into 100% Hammer controlled tenements where it is marked by the historical workings at Pearl, Lakeside and Smoko Gossan. The zone then passes through the Lakeview Prospect before trending up to the Jubilee Deposit. Hammer intends to drill test this trend in April.
