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Hammer Metals (ASX:HMX) maps out new drill targets at Mt Isa JV project, QLD – The Market Herald

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  • Hammer Metals (HMX) maps out new drilling targets following exploration activities at its Mt Isa joint venture project in Queensland
  • The new targets have been identified at the Pearl and Trafalgar prospects, with a 10-hole reverse circulation (RC) drill program for 2500 metres now underway to test the targets
  • The company completed an induced polarisation program over both prospects, delineating the Trafalgar mineralised trend and upgrading Pearl’s defined electromagnetic plates
  • Hammer and joint venture partner Sumitomo Metal Mining Oceana are now continuing to advance exploration at the project to identify future drilling targets
  • Shares in Hammer Metals are trading 7.14 per cent higher at 5.3 cents per share at 11:49 am AEST

Hammer Metals (HMX) has mapped out new drilling targets following exploration activities at its Mt Isa joint venture project in Queensland.

The new targets were identified at the Pearl and Trafalgar prospects, with a 10-hole reverse circulation (RC) drill program for 2500 metres now underway to test the targets.

The company flagged the targets after completing an induced polarisation (IP) program over both prospects, delineating the Trafalgar mineralised trend and upgrading the Pearl prospect’s defined electromagnetic (EM) plates.

Additionally at Pearl, geological mapping, rock chip sampling, and soil sampling were completed over the area.

Rock chip sampling detected maximum assays of 7.31 per cent copper, 0.52 grams per tonne (g/t) gold, 0.14 per cent cobalt and 0.33 per cent nickel.

Meanwhile, HMX has received assays for diamond drilling at the Trafalgar trend, with one hole hitting 1.13 metres at 7.65 per cent copper within a mineralised envelope of 6.5 metres at 0.8 g/t gold and 2.68 per cent copper from 147 metres.

Sumitomo Metal Mining Oceana is busy earning a 60 per cent interest over roughly 15 per cent of Hammer’s tenement holding in the Mount Isa east region, and the joint venture is continuing to advance exploration at the project to identify future drilling targets.

Shares in Hammer Metals were trading 7.14 per cent higher at 5.3 cents per share at 11:49 am AEST.



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