Ann: Yandal Exploration Update, page-5

A very impressive broad extent of this halo of 96m @ .39g/t is excellent news with its accompanying higher grade intervals!!!

Not complaining about this update as the pending results should be very interesting indeed. Well done to outline lots of added strike.

Sarg



Significant results from BWSDD001 include 14m @ 0.14g/t Au from 202m. This drillhole tested the edge of the interpreted gravity anomaly and still encountered a significant zone of quartz and carbonate veining with low levels of gold mineralisation. The intersection of the quartz and carbonate veining supports Hammer’s targeting rationale and offers encouragement for other target areas within the Bronzewing south tenement.During the completion of the RC pre-collars, an additional area of interest was tested with a single RC drill hole. This hole was planned to test an area identified by Hammer during its initial RC drilling program (refer to ASX announcement dated 2 October 2019). This target area is located in an intersection zone between northeast trending faults and the eastern shear. The RC hole encountered a broad low-grade mineralised envelope of 96m at 0.39g/t Au from 48m. Peak gold grades are associated with quartz veined pyritic mafic units with an elevated magnetic response. Intercepts of interest were:• 20m at 1.5g/t Au from 120m in drill hole BWSRC0037, including: o 8m at 2.4g/t Au from 120m; including:• 4m at 3.9g/t Au from 120m with a single maximum grade over 1m of 19.69g/t Au; and o 4m at 2.1g/t Au from 136m.The hole was drilled vertically to test possible low angle mineralised zones between existing Hammer Metals reverse circulation holes (refer to Hammer ASX announcement dated 2 October 2019):• 8m @ 1.36g/t Au from 199m (BWSRC004); and• 5m at 1.91g/t Au from 147m (BWSRC011).BWSRC037 has helped define an east dipping target zone and the knowledge gained from this hole opens a number of additional targets within Hammer’s highly prospective Bronzewing South tenement (See Figure 3). Follow up drilling of several high potential targets will be considered along with the pending results from the current diamond drilling program.Of most interest, is the corridor that sits in an analogous position to the Bronzewing Gold mine. This corridor is bounded by the Bapinmarra dolerite unit to the west and the eastern share zone. The gravity survey in 2019 identified an untested gravity low in this corridor. Given the technical success of our recent drilling program in identify abundant quartz and carbonate veining, this target has been upgraded (Figure 2). Additional targets through this corridor occur where the southerly plunging Bronzewing Mine stratigraphy is cut by northeast trending faults. These targets will be the focus for further drilling in 2021 (Figure 3).To assist in targeting, an extension to the existing detailed gravity survey is planned for late January.Figure 2. Example of sulphide bearing quartz veining - BWSDD001 388.9-393.4m