46% copper find for Hammer in Queensland

Monday, 3 September, 2018 - 14:26

Hammer Metals continues to polish up the new and very intriguing Perentie project in Mt Isa, Queensland, with rock chip samples at a new zone returning up to an astounding 46% copper and 0.6 grams per tonne gold.

The new Susan prospect is located 1.6km south of the Paddy B prospect, taking the Perentie mineralised trend up to more than 3.4km now.

Susan appears to be a circular, “pipe-like” quartz veined zone of up to 60 metres in diameter with peripheral veining to the south.

Hammer has also identified a fourth mineralised zone on a separate but parallel structure about 2.7km southeast of Paddy B.

Sampling has confirmed that this zone extends over a 900m strike length with individual maximum grades of up to 7.47% copper and 4.72g/t gold.

Last month, surface rock chip sampling of the Judith prospect located just 800m north of Paddy B, returned assays up to 23% copper and 7.23g/t gold, providing some excitement for the site based rock hounds working for Hammer.

This followed up on rock chips from the Paddy B and Spiros prospects that recorded multiple high-grade copper-gold results up to 36% copper, 6.8g/t gold and 23g/t silver.

The company is continuing sampling and mapping of the demagnetised zones that are associated with mineralisation at Perentie.

Perentie covers an area of about 50km2 centred on the north-western corner of the highly magnetic Wimberu Granite that is considered to be associated with the development of iron oxide copper-gold mineralisation elsewhere in the Mount Isa geological district.

It forms part of the larger Dronefield JV with Kabiri Pty Ltd, over which Hammer holds 80%.

Hammer and its geologists are now pushing ahead at a rate of knots to get a better picture of what Perentie might be hiding given the number of serious at surface grades it has thrown up to date.