Hammer Metals and its Canadian joint venture partner will accelerate drilling at their Millennium cobalt-copper deposit near Mount Isa after finding several high-grade cobalt intercepts from a three-hole program in December.
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Hammer Metals Limited told the ASX last week that they have received assays from a three hole, 471-metre RC drilling program at the Millennium cobalt-copper-gold deposit.
The program, completed between December 12 and 16 was designed to test gaps in the existing drilling to confirm grade continuity.
Hammer told the ASX the program was a success with several significant intersections returned.
This is the first program completed under the Millennium Joint Venture with Canadian firm Global Energy Metals Corporation and Hammer is managing the exploration activities on behalf of the joint venture.
Hammer told the ASX the joint venture parties are keen to accelerate work with a 10-hole, 1300-metre diamond drilling program to commence as soon as possible.
The Millennium Joint Venture is located 30km northwest of Cloncurry and 19 km west of CuDeco’s Rocklands copper mine.
The Millennium deposit is near the Pilgrim Fault zone, which also hosts the Kalman cobalt-copper-gold-molybdenum-rhenium deposit 50 kilometres to the south.
Hammer’s CEO Alex Hewlett said the joint venture activity with GEMC was off to a great start.
“The cobalt results from the first program is meeting or exceeding our expectations,” MrfHewlett said.
“We are keen to commence the next phase of drilling at Millennium with GEMC and advance this project.”
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Paul Sarjeant, VP Projects at GEMC said the first results confirmed strong cobalt-copper rich mineralisation within the JORC resource area.
“We are particularly excited with the results from (mining lease) MIRC026 which is an undercut of previous mineralisation and shows an approximate 50m depth extension on that section,” Mr Sarjeant said.
“ After a short break over the holiday season we are anxious to restart drilling at Millennium with our plan to further delineate this resource in the weeks ahead.
“Hammer has done an excellent job to this point and we are very pleased to continue working with them on this exciting cobalt project.”
Derek Barry
Editor of the North West Star Mount Isa since January 2016. Prior to that, an editor at several regional southern Queensland newspapers. Passionate about telling local stories. Comes with a strange accent to due an Irish accident of birth.
Editor of the North West Star Mount Isa since January 2016. Prior to that, an editor at several regional southern Queensland newspapers. Passionate about telling local stories. Comes with a strange accent to due an Irish accident of birth.
