Search

3 ounces to the tonne gold for Hammer in Queensland

Multi-commodity exploration company Hammer Metals continues to smash out great numbers from its extensive ground holdings in the strongly mineralised Mount Isa project in Queensland, unearthing 99.4g/t gold and 1.63% copper in rock chip sampling at its Malbon project.

The spectacular assays came from iron-rich quartz veining upstream from the historical El Questro alluvial workings and also included 15.1g/t gold and 0.48% copper and 2.57g/t gold and an exceptional 5.96% copper, in separate samples.

The company said that further sampling was underway to define the extent of mineralised quartz veining 500m along strike, with results expected soon.

According to Hammer, the elevated gold to copper ratio delineated at the El Questro prospect is unusual for the Mount Isa district, although it probably helps to explain the artisanal alluvial gold workings located downstream.

About 45km to the west, the company has resumed field work at the Mt Philp Breccia project, undertaking geological field reconnaissance of multiple soil geochemical anomalies outlined at various prospects.

The sampling has outlined numerous copper-bearing zones at the surface, which are often accompanied by gold mineralisation.

Peak rock chip assays returned to date were 2.69g/t gold from the Range View prospect and 18.55% copper from Mt Philp East.

In addition, elevated copper and gold assays were also returned from the Mt Philp Breccia, Pelican Waterhole, Steakhouse, Old Camp, Charlie North and Undulating Hills prospects, with follow-up geological mapping planned for all areas.

Hammer Metals Chairman Russell Davis said: “Whilst Hammer is preparing to commence work at our new Bronzewing South gold project our programs of prospecting and sampling of the Mount Philp Breccia soil anomalies and at the Malbon project at Mount Isa continue to return very encouraging results.”

“We are identifying previously unknown zones of copper and gold mineralisation, supporting our exploration approach and the considerable potential of Hammer’s projects. The high-grade gold results at El Questro, in particular, will be followed up in the short term.”

In Western Australia, Hammer recently acquired a 100% interest in the Bronzewing South gold project located adjacent to Echo Resources’ 4 million-ounce Bronzewing gold deposit in the highly endowed Yandal greenstone belt.

The company recently engaged Vortex Geophysics to undertake an Induced Polarisation, or “IP”, survey over the Bronzewing South mineralised corridor immediately south and adjacent to the Bronzewing mine workings.

Sulphide mineralisation is commonly associated with the gold mineralisation in the Bronzewing district and the IP survey is designed to detect potential sulphide-rich zones below the cover rocks and refine drill hole targets.

It is certainly a busy time for Hammer, as it continues to seek its fortune in different regions of the Australian continent.

Add your comment

Share Price

Closing price for the last 90 trading days
Source: Morningstar

Top 10 Shareholders

Substantial shareholders as published in the annual report.
Source: Morningstar

BNiQ Disclaimer