29/07/2020 - 16:37

Hammer extends its position on the Yandal gold belt

29/07/2020 - 16:37

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Hammer Metals has nailed down additional strategic tenure in the revered Yandal gold belt of Western Australia. The company has added the Bronzewing North project to its already impressive ground holding in the region and extended its footprint across the world-class terrane to over 260 square kilometres, adding two near-term exploration targets at Sword and Sam Well in the process.

Hammer Metals has nailed down additional strategic tenure in the revered Yandal gold belt of Western Australia. The company has added the Bronzewing North project to its already impressive ground holdings in the region and extended its footprint across the world-class terrane to over 260 square kilometres.

Hammer Metals Managing Director, Daniel Thomas said:"As we have seen through our initial programs in the Yandal belt, this region has a tremendous endowment of gold and remains highly prospective for new discoveries. Our strategy in the region has been quite deliberate and we see a long-term future for Hammer’s exploration programs in the region.”

"Recent discoveries and developments at Northern Star’s Ramone and Julius deposits open the potential for discoveries within a different geological domain in the northern part of this belt. Similar exploration concepts have not been applied to these properties and we look forward to further establishing our exploration knowledge within this world class gold producing region.”

Hammer’s Yandal project is located in the north eastern Goldfields of Western Australia, 110 km south of the world-class Jundee gold mine. The company’s project area extends over more than 90km of strike between the Bronzewing-Mt McClure gold camp in the south through to Northern Star’s Julius gold deposit in the north.

Hammer’s exposure to the Yandal belt spans over three decades. Chairman Russell Davis had previously overseen a highly successful exploration program through the region dating back to the 1990s. During this time Mr Davis’s exploration group made a plethora of discoveries through the region including the ore bodies at Empire, Bill’s Find and Henry Ward - Hammer clearly feels it has unfinished business in the fertile terrane.

The company has recently acquired the Bronzewing North tenure from fellow ASX explorer Alloy Resources, adding to its comprehensive ground holding in the region. Hammer acquired Alloy’s ground position for the bargain price of $25,000 cash and $50,000 payable in equity. The purchase includes 20 exploration and prospecting licenses through the highly prospective gold belt which the company claims to have been the subject to little modern exploration.

Hammer says recent knowledge gained from work over its Bronzewing South and Orelia North gold projects was a key driver for the acquisition of Alloys Bronzewing South tenure. An evaluation of the ground position has already identified two prime targets, Sword and Sam Well, that lie within the ‘gravity corridor’ that hosts Northern Star’s Ramone discovery and the 335,000-ounce Julius gold deposit.

The Sword prospect sits to the south of the Julius deposit and lies adjacent to the mineralised gravity corridor, with historical aircore drilling returning 4 metres at 2.53 g/t gold and a curious 42 metres at 0.21 per cent nickel.

Two kilometres south of the Sword prospect, the Sam Well target is a potential wildcard for the company. Sam Well hosts a large coherent gold anomaly, coincident with exposed quartz veining within a granite body. This setting is remarkably similar to the nearby 81,000-ounce Ramone gold discovery which the company says has yet to be tested by drilling.

Hammer’s acquisition of the Bronzewing North tenure cements its position in the northern Yandal belt and delivers the company a strategic holding in the region. Exploration in the coming months is likely to see it tests the priority target areas through the Yandal belt as it looks to emulate the success of its peers in the region.

 

Is your ASX listed company doing something interesting? Contact: matt.birney@businessnews.com.au 

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