Ann: Significant New Drill Targets Defined across Mt Isa Projects, page-2

gooooooood mornnnnnnnning,

SIGNIFICANT NEW DRILL TARGETS DEFINED
ACROSS MOUNT ISA PROJECTS
• High-priority IP (Induced Polarisation) anomaly defined at Overlander
South, with drilling expected to commence this week.
• The interpreted IP anomaly is situated 200m below the existing Overlander
South copper-cobalt JORC resource (649,000t @ 1.0% Cu and 500ppm Co*
).
• Down-hole and fixed loop EM surveys currently underway at the Ajax
prospect, with results imminent.
• Laboratory assays from initial drilling at Ajax expected within the next seven
days – preliminary portable-XRF intersection of 10m at 3.5% Cu from 27m in
HMLVRC014 (ASX Announcement 14 February 2022).
• Follow-up drilling at Ajax to commence following completion of drilling at
Overlander South.
• Broad copper-gold soil anomaly over 600m of strike defined at Ajax along
with multiple anomalies along the Lakeview trend.
• Several broad copper-gold target zones identified by geochemical soil
surveys at Shadow North, Fountain Range and Dronfield, part of the Mount
Isa East JV (“MIE JV†.
• Hammer awarded Queensland Government Collaborative Exploration Initiative
(CEI) grant to co-fund the drilling of an IOCG target beneath the Mount Philip
haematite deposit (MIE JV†.
Figure 1. Induced Polarisation Anomaly at Overlander South. Refer: ASX
announcement 18 March 2015
* Refer to the ASX release dated 26 August 2015 † Mount Isa East JV – Sumitomo Metal Mining Oceania earning a 60% interest

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