EXPLORATION ACCELERATING AT MT ISA EAST – BROAD Cu-Au ZONES AT TRAFALGAR• New phase of diamond drilling to commence this week at the Mount Isa East Joint Venture (MIE JV*) with key targets to be tested including
Mount Philip IOCG target – located below the existing haematite JORC resource (partly funded by the Queensland Government Collaborative Exploration Initiative (CEI) grant); ando Trafalgar Cu-Au system – building the Company’s understanding of the structure and controls of mineralisation.• Trial IP (Induced Polarisation) surveys completed at Trafalgar, successfully identifying zones of copper mineralisation.• Broad zones of shallow copper-gold mineralisation intersected in all holes drilled at the six targets along the 4.5km long Trafalgar trend.• Six targets tested with best results achieved at
The Springs Extended – 18m at 0.73% Cu and 0.25g/t Au from 44m in HMTRRC0015 including 4m at 2.12% Cu and 0.64g/t Au from 55m;o The Springs Extended – 45m at 0.33% Cu, 0.06g/t Au from 40m in HMTRRC0013; ando Victory – 40m at 0.34% Cu and 0.1g/t Au from 47m in HMTRRC0011.• The two holes drilled at the Springs Extended target are separated by 290m and potentially represent a broad zone of significant copper-gold mineralisation. Further strike extensions to the north remain untested.• Budget and work programs for the fourth year of the MIE JV are set to be finalised with plans including a significant drilling program accompanied by further soil, mapping, IP and EM surveys.• Exploration activities will continue to focus on the Trafalgar trend, in addition to broad anomalies identified at Shadow, Jimmy Creek, Pearl and Even Steven.• Diamond drilling program will also include drilling the EM conductor identified at Hammer’s 100%-owned Ajax East prospect.Hammer’s Managing Director, Daniel Thomas said:“These encouraging results highlight the presence of extensive zones of copper-gold mineralisation within the MIE JV. They also give us confidence as we focus our exploration activities along the Trafalgar to Jubilee/Elaine copper-gold trend. The upcoming diamond drilling program at Trafalgar will provide us with valuable information as we look to further define zones of higher-grade mineralisation along the trend. Meanwhile, the Mount Philp IOCG target is a large-scale high-priority target with several features consistent with large scale IOCG systems. The results from these upcoming programs are in addition to several eagerly awaited results from our recent drilling activities at Ajax, Overlander and Neptune.”
