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Hammer Metals Ltd (ASX: HMX) (“Hammer” or the “Company”) is pleased to advise that follow-up Reverse Circulation (RC) drilling at the Hardway Prospect, part of the Company’s Mt Isa portfolio in NW Queensland, has delivered further broad, shallow intercepts of significant copper and rare earth element (REE) mineralisation.
- Broad, shallow intercepts of copper & rare earth element (REE) mineralisation from wide-spaced follow-up drilling confirm the Hardway Prospect as an exciting new discovery within Hammer’s Mount Isa portfolio.
- Significant results include:
- 57m at 1.0% Cu from surface in HMHWRC012, including:
- 10m at 2.87% Cu, 0.11g/t Au and 0.09% Total Rare Earth and Yttrium Oxides (TREYO) from 25m;
- 24m at 1.06% Cu and 0.20% TREYO from 14m within 58m at 0.55% Cu from surface in HMHWRC006 (hole terminated in mineralisation);
- 13m at 1.20% Cu from 35m within 38m at 0.66% Cu from 13m in HMHWRC010;
- 9m at 1.51% Cu and 0.18% TREYO from 67m within 43m at 0.54% Cu from 48m in HMHWRC005;
- 43m at 0.52% Cu and 0.12% TREYO from 57m in HMHWRC002; and
- 30m at 1.1% Cu from 48m and 26m at 0.14% TREYO from 34m in HMHWRC001 (previously reported).
- 57m at 1.0% Cu from surface in HMHWRC012, including:
- Cobalt mineralisation also observed in numerous holes, with a maximum individual assay of 0.21% Co.
- New high-grade REE zone identified at the Easy Life Prospect, 1.2km south-west of Hardway, where rock chip sampling has identified a new Cu/REE-bearing gossan:
- Individual assays of up to 1.2% TREYO and 1.6% copper, including maximum individual REE values of 0.40% yttrium oxide, 0.06% dysprosium oxide and 0.15% neodymium oxide.
- Planning underway for a follow-up drilling program at Hardway, focusing on a 500m strike extent which has returned elevated grades of copper and REE mineralisation.
- Drilling at high-grade copper prospects at South Hope, Mascotte, Mascotte Junction and Stubby is expected to commence within the next fortnight.
Figure 1. HMHW005 60-80m showing copper oxide mineralisation. 9m at 1.51% Cu and 0.18% TREYO from 67m
Hammer’s Managing Director, Daniel Thomas said:
“The Hardway Prospect is continuing to deliver exceptional drilling results, with these latest assays confirming that the copper and heavy rare earth mineralisation continues along the previously identified ~2km long trend. With this drilling still being very wide-spaced, a follow-up program for Hardway is now being designed with the aim of optimising the discovery and focusing in on zones with the best potential to add metal inventory at higher grades.
“Pleasingly, a geological review of this tenement has identified a new zone of higher grade REE and copper mineralisation at the Easy Life Prospect, which lies just 1.2km south-west of the main Hardway workings. This will be a priority target for follow-up exploration.
“With drilling soon to also commence at our high-grade Mount Hope copper targets, shareholders can look forward to strong upcoming news-flow from our ongoing drilling of fertile copper and gold systems in the world- class Mt Isa district.”
These latest results further enhance the previously reported intercepts from the initial drill-hole, HMHWRC001, which included 30m at 1.1% copper from 48m and 26m at 0.14% Total Rare Earth and Yttrium Oxides (TREYO) from 34m (see ASX announcement dated 6 February 2023).
The Hardway Prospect is unique in the Mt Isa inlier due to the combination of copper and REE mineralisation, the heavy rare earth (HREE) dominated REE assemblage and its location near regional infrastructure.
Figure 2. Hardway North Pit looking North.
Hardway
The Hardway Prospect is situated within Hammer Metals’ 100%-owned EPM14022, located between Mount Isa and Cloncurry and 1km north of the Barkly Highway.
The prospect is located on the margin of the Hardway Granite within the Corella Formation. The Corella Formation also hosts mineralisation at the Mary Kathleen U-REE deposit and Hammer’s Kalman Cu-Au-Mo- Re deposit, Jubilee Cu-Au deposit, Elaine Cu-Au deposit, Overlander Cu deposit and the Lakeview Cu-Au deposit, in addition to other Hammer prospects such as Ajax, Trafalgar and Hammertime.
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This article includes content from Hammer Metals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
High grade Massive Sulphide Intercepts Confirmed at Oval
HIGHLIGHTS:
- OVD027 confirms the continution of high grade massive sulphide from OVD0211 with an intercept of 6.1 metres of 4.16% Cu, 3.51% Ni, 0.G3g/t E3, and 0.13% Co from G8.2 metres encountered between broader high grade zones of:
- A dense disseminated intercept - 26.2 metres of 0.44% Cu, 0.52% Ni, 0.12g/t E3, and 0.03% Co from 72.0 metres and
- A net textured intercept - 15.3 metres of 1.15% Cu, 0.79% Ni, 0.35g/t E3, and 0.04% Co from 104.3 metres;
- A high grade broad intersection is confirmed at the central part of the Oval area by OVD026. It includes a massive sulphide intercept in hole OVD026 of 1.8 metres of 3.21% Cu, 3.32% Ni, 0.6Gg/t E3, and 0.14% Co from 105.0 metres within broader mineralisation of:
- 19.8 metres of 1.23% Cu, 0.98% Ni, 0.36g/t E3, and 0.05% Co from 91.2 metres.
OVD026 is located 100 metres northwest of the previously announced 8.8 metres of massive sulphide identified in drillhole OVD021.
On completion of the Phase 2 exploration work and receipt of all assays, Managing Director Gan-Ochir Zunduisuren, commented:“The 2024 Phase 1 and 2 drilling and exploration programs have confirmed the broad presence of high-grade mineralisation in the Oval gabbroic intrusion. The grades intercepted in some of the drillholes are exceptional and may be indicative of broader potential over a larger area, given Oval is a greenfields discovery.
The 2025 exploration program will focus on obtaining information on the size/metal content potential of the Oval Cu-Ni-PGE mineral system as well as targeting the possible deeper magmatic sources at Oval. Broader exploration is also planned at potential extensions of Oval and nearby look-a-like prospects. We look forward to updating shareholders on progress, with drilling expected to commence in around 8 weeks”.
Summary of Phase 2 exploration drilling at Oval Cu-Ni-PGE project
The Company’s recent drilling work has predominantly focused on finding high-grade mineralisation in the olivine-amphibole gabbro at the Oval project. The multiple intercepts of massive sulphide mineralisation with different ratios of metal contents throughout the Oval gabbroic intrusion is highly encouraging for the presence of one or more deeper sources of high grade mineralisation in the opinion of ABM.
Figure 1. Plan view of drillhole locations on high resolution magnetics map (RTP)
Drillhole OVD02c
Drillhole OVD026 was designed to test the Down-Hole Electromagnetic (DHEM) conductor plate identified as OVD007_L2_B (reinterpretation of OVD007_L2_A2 by Southern Geoscience Consultants), which exhibits a conductance of 1,000 siemens. The drilling intersected a total of 1G.8 metres of mineralisation with 1.23% Cu, 0.G8% Ni, 0.36g/t E3, and 0.05% Co from G1.2 metres including;
- 4.8 metres of @ 0.45% Cu, 0.43% of Ni, 0.14g/t E3, and 0.02% Co of dense disseminated mineralised gabbro from 91.2 metres,
- 6.6 metres of @ 1.56% Cu, 0.G0% Ni, 0.50g/t E3, and 0.04% Co of net textured mineralisation from G6.0 metres,
- 2.4 metres of @ 1.52% Cu, 1.3G% Ni, 0.43g/t E3, and 0.07% Co of semi massive sulphide mineralisation from 102.6 metres,
- 1.8 metres of @ 3.21% Cu, 3.32% Ni, 0.6Gg/t E3, and 0.14% Co of massive sulphide mineralisation from 105.0 metres, and
- 4.2 metres of @ 0.57% Cu, 0.45% of Ni, 0.21g/t E3, and 0.02% Co of dense disseminated mineralised gabbro from 106.9 metres (Table 1 provides a detailed breakdown of mineralisation intervals).
OVD026 is located in the Oval area, which is approximately 100 metres northwest of the previous intersection identified in drillhole OVD0213. This intercept may represent an extension of the known massive sulphide mineralisation in the Oval area and highlights the potential for further expansion of massive sulphide zones within the broader prospect area (Figures 1 and 3).
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This article includes content from Asian Battery Metals PLC, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
