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Hammer Metals announces new copper discovery in Australia

Mining News - Published on Fri, 17 Aug 2018

Image Source: SteelGuru
Hammer Metals announced four previously undiscovered copper-gold prospects identified by rock-chip sampling at the newly-termed Perentie project in Queensland, Australia.

Multiple high-grade copper-gold assays in rock chips with up to 36 percent copper, 6.8 grams per tonne (g/t) gold and 23 g/t silver maximum individual rock chip assays returned to date from prospects Spiros and Paddy B.

Of 100 rock chip assays to date 56 returned copper values greater that 1 percent copper.

Mineralization occurs in veined and “red-rock” altered Williams-age Wimberu granite coincident with magnetic lows developed along and at fault intersections.

Multiple other targets identified with a similar geophysical signature in the Perentie area. Ground investigation of these targets is underway.

Assay results for samples from the Judith and Susan prospects are expected next week.

Hammer is extremely excited with this find which has potential for a significant new copper discovery within Hammer’s existing portfolio with more results expected within the next 2 weeks.

Drilling anticipated to commence late this quarter.

Mr Alexander Hewlett CEO of Hammer Metals said that “This is an exciting development for Hammer’s Mount Isa Project. Four new copper-gold systems have been identified in a short period of time and our targeting is indicating the potential for multiple similar zones within the Perentie area. This work has opened a new frontier for Hammer’s exploration in this prolific metalliferous region.”

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Posted By : Rabi Wangkhem on Fri, 17 Aug 2018
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