Hammer Metals has received results from the first phase of its JOGMEC joint venture exploration program at its Mount Isa Project in Queensland and they have thrown up some pulse quickening numbers from rock chip samples including 6.7 grams per tonne gold and 28.2% copper. The positive results have now triggered the second phase of work at the Shadow and Toby prospects.
Mapping and sampling found evidence at Shadow of in situ copper mineralisation, with company Geologists even identifying copper associated minerals such as chalcocite and chalcopyrite in outcropping rocks.
Hammer said the mapping had discovered a prospective “multi-phase breccia” that is currently 450m in strike length with a maximum width of 150m.
Hammer’s in-field team also noted copper sulphide minerals occasionally popping up in the rocks over a 4km southern trend. This trend also has a coincident magnetic anomaly, according to Hammer, which is encouraging as copper mineralisation is sometimes associated with these geophysical features.
Historical rock chip sampling at the Toby prospect returned maximum results of up to 18.4g/t gold, 76g/t silver and 15.1% copper and Hammer said that it has completed a ground electromagnetic survey at Toby and at the Charlie prospect.
The ASX-listed company said the electromagnetic survey identified prospective-looking conductive units that it will use to help plan its maiden drilling program.
Electromagnetic surveys can show accumulations of sulphide minerals at depth, which may point the way towards the mineral honey pot.
Hammer has also just wrapped up detailed gravity geophysical surveys over parts of its 100% owned Even Steven, Mount Philp, Dronfield West and Malbon JV prospects and identified some brand new targets to explore during the second phase of its exploration efforts in Queensland.
At the Mt Philp prospect, previous rock chip samples returned up to 4.64g/t gold and an extraordinary 27.7% copper.
Additionally, thanks to a windfall from a Queensland Government grant, the company completed a fully funded magneto telluric survey at the Kalman copper, molybdenum, gold and rhenium deposit.
The aim of the survey was to identify the geology and structures associated with Hammer’s Kalman copper-gold deposit so that further work can look to expand the existing 20Mt resource grading 0.61% copper, 0.34g/t gold, 0.14% molybdenum and 3.7g/t rhenium.
Hammer’s Managing Director, DanThomas said: “Diamond drilling at Shadow will [soon] test the depth extent of surface copper-gold mineralisation that has already been observed. The upcoming program will also see Hammer embark on significant field work to elevate earlier stage targets that have been identified during this program. These upcoming work programs should ensure a steady stream of results from the Mount Isa projects throughout the remainder of 2020.
Initial results from the Queensland Government funded CEI MT survey are encouraging. The results from this survey illustrate the potential around our Kalman deposit, highlighting a number of structures and conductive bodies with the potential to host high grade mineralisation.”
At Kalman, drilling previously hit high-grade mineralisation, with 7m grading 23.4% copper and 0.5g/t gold from 582m and the magneto telluric survey looks to have been able to identify the structures associated with mineralisation - which makes it a handy tool for chasing these deposits at depth.
Wrapping up the company’s preliminary field work program for the first quarter of 2020, were results from sampling at its Ashover project, located about 60km south of Mt Isa, where anomalous rock chips graded up to 0.44g/t gold, 78.2g/t silver, 36.8% copper and 0.14% cobalt.
Hammer is planning on progressing Ashover alongside its other very exciting Queensland exploration projects in the coming months, which should make for some interesting reading.
Is your ASX-listed company doing something interesting? Contact : matt.birney@businessnews.com.au
By Matt Birney
