As if a 62m hit grading .65% Molybdenum wasn’t enough, Perth based Hammer Metals backed it up the next day with a 75m copper intersection grading 1.33% copper at their Mt Isa project in Queensland.
Molybdenum is used to harden steel and prevent sulphur from bonding to it and sells for around $30 000 per ton.
Whilst some producers around the world are successfully mining grades of just .11%, a grade of .65% Molybdenum is considered highly prospective.
When combined with multiple other metals also encountered in the Molybdenum drill hole, the result is the economic equivalent of a 62m copper intersection grading 4.3% copper.
Hammer Metals’ drilling campaign is continuing.
