The company reported that of 100 rock chip assays to date 56 returned copper values greater that 1 percent copper.
Hammer Metals (ASX:HMX) has announced four previously undiscovered copper-gold prospects identified by rock-chip sampling at the newly-termed Perentie project in Queensland, Australia.
As highlighted in the press release:
- Multiple high-grade copper-gold assays in rock chips with up to 36 percent copper, 6.8 grams per tonne (g/t) gold and 23 g/t silver maximum individual rock chip assays returned to date from prospects Spiros and Paddy B.
- Of 100 rock chip assays to date 56 returned copper values greater that 1 percent copper.
- Mineralization occurs in veined and “red-rock” altered Williams-age Wimberu granite coincident with magnetic lows developed along and at fault intersections.
- Multiple other targets identified with a similar geophysical signature in the Perentie area. Ground investigation of these targets is underway.
- Assay results for samples from the Judith and Susan prospects are expected next week.
- Hammer is extremely excited with this find which has potential for a significant new copper discovery within Hammer’s existing portfolio with more results expected within the next 2 weeks.
- Drilling anticipated to commence late this quarter.
Hammer Metals CEO Alexander Hewlett said:
“This is an exciting development for Hammer’s Mount Isa Project. Four new copper-gold systems have been identified in a short period of time and our targeting is indicating the potential for multiple similar zones within the Perentie area. This work has opened a new frontier for Hammer’s exploration in this prolific metalliferous region.”