Hammer Metals (ASX:HMX) has reported solid assay results from...

Hammer Metals (ASX:HMX) has reported solid assay results from recent copper-gold drilling at the Pelican, Python, Serendipity and Overlander prospects near Mount Isa in North West Queensland.

Highlight results include 16 metres at 1.62% copper, 0.08g/t gold and 249ppm cobalt from 29 metres, and 15 metres at 1.26% copper, 0.06g/t gold and 920ppm cobalt from 26 metres.

The drilling program was designed to provide an initial test of the Pelican, Serendipity and Python prospects south of Kalman and also to follow up encouraging results from Hammer’s previous drilling programs at Overlander North and Overlander South, located six kilometres to the west of Hammer’s Kalman copper-gold-molybdenum-rhenium deposit.

Of the 20 holes drilled, 15 holes returned intersections with greater than 1% copper over a 1 metre minimum width with strong results continuing to be returned from Overlander North and South.

The Overlander results justify an update of the Overlander North Resource as well as commencement of the maiden estimate for Overlander South.

The broad intersections of disseminated copper mineralisation intercepted in the footwall rhyolite at Overlander are now of particular focus and further supports the potential of this area to host large IOCG deposits.

Follow-up drilling is planned for Pelican and Serendipity prospects where drilling to date has provided strong indications of similar copper-gold-molybdenum mineralisation and alteration to that found at the Kalman deposit, along strike to the north.

The broad widths of the altered and mineralized zones with local intervals of high-grade copper and gold are considered analogous to those found in higher grade sections of the Kalman deposit.