Hammer Metals says drilling is set to recommence at its Jubilee copper-gold target in late January.
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The company told the Australian Stock Exchange last week that they were planning a program of around 13 holes for 1500 metres.
“The program is designed to better define and extend the high-grade copper-gold mineralisation intercepted in the previous program,” the company told the ASX.
The Jubilee prospect is located adjacent to the Mary Kathleen Uranium Mine halfway between Mount Isa and Cloncurry and is part of the Mt Frosty Joint Venture with Glencore.
It covers the Mary Kathleen Shear Zone that hosts several copper-gold, uranium and rare earth element prospects including Jubilee, Koppany and Blue Caesar.
The Jubilee prospect is located within 2 kilometres of the Barkly Highway midway between Mount Isa and Cloncurry.
The upcoming drilling program is designed to follow-up the significant copper and gold results returned from Hammer’s recent drilling program completed late 2017.
By December Hammer had completed nine RC holes at Jubilee and assay results have shown significant copper-gold intercepts including 5 metres at 7.34% Copper and 3.75g/t Gold from 35 metres in one hole with good results in other holes.
One drill hole encountered sulphides over an eight metre mineralised section from 60m down hole and the other was a 7m intersection from just 33m down hole.
Hammer bought their Mt Frosty stake from AuKing, which drilled 19 holes at Jubilee and returned some impressive results which Hammer says suggest excellent potential to delineate a shallow copper-gold resource at Jubilee with minimal infill drilling.
Under the terms of the Joint Venture Agreement with Mount Isa Mines (owned by Glencore) each party will contribute exploration expenditure according to their participating interest which is 51 percent Hammer and and 49 percent Mount Isa Mines.
Hammer is managing the exploration activities.