The company’s executive chairman said that the acquisition wasw an opportunity for Hammer Metals to acquire highly prospective exploration tenements that augment Hammer’s Mount Isa project.
Hammer Metals (ASX:HMX) has announced its entered into sale and purchase agreements to purchase two exploration permits that cover the Sunset and Black Rock copper-gold prospects located 5km northwest of Hammer’s Jubilee and Elaine Dorothy copper-gold deposits near the Mary Kathleen mine in Queensland, Australia.
As quoted in the press release:
- The Sunset prospect has potential for Jubilee‐style copper‐gold deposits. Selected drill intersections include 24m at 1.41 percent copper and 0.49 grams per tonne (g/t) gold and 14m at 2.57 percent copper.
- Black Rock returned broad drill intersections of up to 78m at 0.54 percent copper and 0.13 g/t gold and 94m at 0.44 percent copper. The prospect extends over a strike length of 1.2km with true widths of the mineralized zone of up to 60m, indicating good potential to host a large tonnage copper‐gold deposit similar to Hammer’s Elaine‐Dorothy deposit.
Hammer’s executive chairman, Russell Davis said:
“The acquisition is an opportunity for Hammer Metals to acquire highly prospective exploration tenements that augment Hammer’s Mount Isa project.
With further drilling the tenements have good potential to add additional copper and gold resources to the existing inventory, and specifically complement Hammer’s Elaine‐Dorothy and Jubilee copper‐gold deposits located nearby.”