Good ROI on drilling at Hammer’s Ajax prospect

It’s first time lucky for Hammer Metals at its Ajax East prospect near Mount Isa. The results are in for recent drilling and geophysical surveys at Ajax East (100% Hammer) and the nearby Pearl and Trafalgar prospects within the Mount Isa East Joint Venture with Sumitomo Metal Mining Oceania, with this broader area continuing to emerge as a significant large-scale exploration target. Related: Hammering out a resource at the Mount Isa prospect The first diamond drill test of the Ajax East conductor successfully identified a mineralised sulphidic system containing high-grade copper mineralisation. Core from the Ajax sample The intercepts include 0.75m at 7.31% Cu and 0.21g/t Au from 181.65m and 5m at 1.10% Cu from 293.6m. The results are good return for the investment said Hammer’s Managing Director, Daniel Thomas. “This is a tremendous result from our first drill hole in what is emerging as a high-impact exploration target at Ajax East, confirming the presence of high-grade copper sulphides assaying up to 7 percent Copper,” Mr Thomas said. “The encouraging results from recent EM surveys have also opened up a 2km long target zone encompassing prospects at Ajax East and the neighbouring Pearl prospect. “The combination of an extensive fertile sulphide system, nearby high-grade copper hits and historic copper workings provides Hammer and the Mount East JV with an exciting high-potential exploration target. “The exploration team has continued with significant geophysical and surface sampling activities which continue to deliver new and enticing drilling prospects. “The upcoming drilling program in July will provide for further tests of the Ajax East trend, as well as new drilling at Kalman and a number of other promising targets.” Project description Electromagnetic modelling, geological mapping and soil geochemistry will guide the next phase of drilling at the prospect, Mr Thomas said. Hammer Metals Limited holds a strategic tenement position covering approximately 2,600km2 within the Mount Isa mining district, with 100 percent interests in the Kalman (Cu-Au-Mo-Re) deposit, the Overlander North and Overlander South (Cu-Co) deposits and the Elaine (Cu-Au) deposit. Hammer also has a 51 percent interest in the Jubilee (Cu-Au) deposit. Hammer is an active mineral explorer, focused on discovering large copper- gold deposits of Ernest Henry style and has a range of prospective targets at various stages of testing. Hammer holds a 100 percent interest in the Bronzewing South Gold Project located adjacent to the 2.3 million-ounce Bronzewing gold deposit in the highly endowed Yandal Belt of Western Australia. (Photo: Hammer Metals' Managing Director, Daniel Thomas)

Good ROI on drilling at Hammer’s Ajax prospect

Industry Queensland

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