Hammer Metals Ltd (ASX: HMX) has released an initial Mineral Resource Estimate (MRE) for the Lakeview copper-gold deposit, located two km south of the Barkly Highway approximately mid-way between Mt Isa and Cloncurry in north-west Queensland.
The MRE comprises 0.58 million tonnes at 1.03% Cu and 0.30g/t Au in the Inferred category at a 0.3% Cu cut-off.
The deposit contains an estimated ~5,952 tonnes of copper and ~5,618 ounces of gold.
The deposit lies approximately 4.5km south-east of the Jubilee copper-gold deposit which forms part of the Mt Frosty Joint Venture. The Mount Colin mine, operated by Aeris Resources, is located approximately 7.5km to the north.
Lakeview Mineral Resource Estimate
Geowiz Consulting was commissioned by Hammer Metals Limited to undertake a Mineral Resource Estimate (MRE) for the Lakeview copper-gold deposit.
The understanding of the geology, mineralisation, continuity, and methodology is sufficient for the mineralisation to be classified as an Inferred Mineral Resource. The deposit is similar in style to other copper- gold deposits in the region that have been successfully mined by small-scale open pit mining techniques and, together with the pit optimisation hurdle, the implications are that the mineralisation can be successfully extracted.
Hammer plans to conduct sighter metallurgical studies on the deposit in order to further de-risk eventual economic extraction.
Drilling results from the Lakeview Deposit have previously been reported to the ASX on 9 March 2021 and 22 June 2021.
Ownership
The Lakeview deposit lies within EPM26775, which is held by Mt Dockerell Mining Pty Ltd, a 100%-owned subsidiary of Hammer Metals Limited. Hammer Metals Limited is the operator of the tenement.