Outstanding New Wide Copper And Heavy Ree Hits At Hardway, Including 57m @ 1% Cu

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).
• 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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