Hammer Metals has told the ASX drilling was progressing well at their Mount Isa field.
The ASX statement released Tuesday was an update on the Dronfield copper-gold project south-east of Isa.
This is the Kalman resource which comprises a combined 30 million tonnes at 1.3% copper equivalent and is subject to a farm-in agreement with Kabiri Resources Pty Ltd after Hammer earned an 80% interest by spending $250,000 on exploration.
Hammer said the drilling would initially consist of three holes, two testing the western anomaly, one the eastern anomaly.
“As of June 8 the first hole was completed at 537m depth and drilling is currently progressing on (the second hole),” the company said.
“(The first hole) intersected strongly magnetite-actinolite and red rock altered granodiorite of the Wimberu Granite (part of the Williams Batholith) over large parts of the hole.”
Hammer said sulphide mineralisation was predominantly pyrite-chalcopyrite with levels between trace and 1% with less than 5m thin zones where the total sulphide content approaches 5%.
The core is now being analysed for rare earth elements with results expected late June.
Hammer is also sorting through data on a number of promising copper-gold prospects they acquired six months ago from Chinalco Yunan Copper including the Elaine-Dorothy deposit.