Following the nearby “Major Copper Discovery” by Carnaby Resources (ASX: CNB) at Nil Desperandum, Hammer has instigated a geological review of its neighbouring tenements and targets including Revenue prospect (~5km to the East of Nil Desperandum) and Overlander deposits. The review encompasses historical drilling and residual geophysical targets including historical IP surveys which appear to be a factor in Carnaby’s recent exploration success.
An IP team has been secured for work in March/April to complete initial surveys across several Hammer and Mount Isa East JV targets. Potential targets being considered for this IP survey include: Kalman, Trafalgar, Shadow, Hammertime, Neptune, Revenue, St Mungo, Mt Mascotte and Saint Andrew.
Additionally, Hammer is reviewing deep magnetic and gravity responses below Cambrian Georgina basin cover immediately to the north of the RTX Devoncourt IOCG project.
Results from recently completed geochemical surveys on the Mount Isa East JV at Dronfield, Shadow North, Prince of Wales are expected soon. Results from the soil geochemical surveys at Hammer’s 100% owned project at Lakeview are also anticipated.
HMX Price at posting:
7.0¢ Sentiment: Buy Disclosure: Held
