Hammer Metals (ASX:HMX) Accelerates Exploration at Mt Isa East – The Market Herald

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  • Hammer Metals (HMX) is ramping up exploration at its Mount Isa East joint venture after identifying large areas of copper-gold at Trafalgar
  • Broad zones of shallow copper-gold mineralization were discovered in the six targets drilled along the 4.5 kilometer long Trafalgar Trend
  • The company will launch a new phase of diamond drilling this week, which will explore the Mount Philip iron oxide copper-gold target and the Trafalgar copper-gold target.
  • It is in the process of finalizing its budget and plans for the project, which include a drilling program as well as other soil, mapping, IP and electromagnetic (EM) studies.
  • Prior to market open, shares are trading at 12.5 cents each

Hammer Metals (HMX) is ramping up exploration at its Mount Isa East joint venture after identifying large areas of copper-gold at Trafalgar.

Broad zones of shallow copper-gold mineralization were found in all six targets drilled along the 4.5 kilometer long Trafalgar Trend.

Best results come from the Spring Extended target at 18 meters at 0.73% copper and 0.25 grams per tonne (g/t) gold at 45 meters, including four meters at 2.12% copper and 0 .64 g/t gold at 55 meters. .

A second hole on this target, at 290 meters, also identified one of the best results of mineralization. The company said this could potentially represent a large zone of significant copper-gold mineralization.

The company will launch a new phase of diamond drilling this week, which will explore the Mount Philip iron oxide copper-gold target and the Trafalgar copper-gold target.

Hammer Metals is finalizing its budget and plans for the project, which includes a drilling program as well as other soil, mapping, IP and electromagnetic (EM) studies.

Chief Executive Daniel Thomas said the results give the company confidence it is testing the right targets.

“The upcoming diamond drill program at Trafalgar will provide us with valuable information as we seek to better define areas of higher grade mineralization along the trend,” he said.

Before the market opened, the shares were trading at 12.5 cents each.

Tana T. Thorsen