Hammer Metals Releases Drilling Results from Perentie

Hammer Metals (ASX:HMX) has released drilling results that confirm zones of high-grade copper mineralization at its Perentie project in the Mount Isa mining district of Queensland, Australia.

The company also released an update on its exploration activities over the past six months.

As highlighted in the press release:

• First pass RC drilling confirms zones of high-grade copper mineralization co-incident with the Perentie targets. Intersections include: 2m at 2.42 percent copper from 74m including 1m at 4.21 percent copper and 0.13grams per tonne (g/t) gold from 75m in HDRC012 at Paddy B and, 2m at 2.36 percent copper and 2 g/t gold from 37m in HDRC016 at Trackside.
• Addition of the new Jubilee copper-gold resource to Hammer’s expanding resource inventory in Mary Kathleen area prompts initiating mining studies on Hammer’s group of deposits in the district.
• Thick zones of copper-gold mineralization identified at the Black Rock Project, 5km west of the Jubilee and Elaine deposits.
• Reconnaissance exploration of Mount Philp Breccia projects recommences following award of CEI grant.
• Exploration in Q1 will focus on the large Mount Philp Breccia and Perentie IOCG projects with pit optimization studies planned initially for Hammer’s new Jubilee copper-gold deposit near Mary Kathleen.

Chairman of Hammer, Russell Davis said:

“For a first-pass program that tested 3 of the 30 targets identified at Perentie the drilling is considered encouraging and has confirmed the exploration concept. The greater Dronfield area is a regionally significant zone of alteration and widespread copper-gold anomalism and we look forward to advancing this project area further.”

Click here to read the full Hammer Metals (ASX:HMX) press release.