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.

Hammer Metals has announced fantastic results from its three-hole diamond drilling program, including 5.5m at 14.5 grams per tonne gold and 6.87 per cent copper from 74m down hole.

Additionally, the results include individual maximum assays over a 1m interval of 43 grams per tonne of gold and 9.03 per cent copper.

The assays continue to highlight the significant gold content in the Jubilee deposit.

The diamond drilling was designed to collect fresh sulfide mineralization for preliminary metallurgical studies. This study will determine copper, gold and cobalt recovery.

Results of the metallurgical test work are expected in five to seven weeks.

Meanwhile, Hammer Metals has also discovered a second zone of high grade copper at its Judith prospect, boasting rock chip values of up to 25 per cent copper and 7.23 grams per tonne gold.

It is just 800 metres north of the Paddy B prospect, where high grade gold has also been discovered. 

Judith and Paddy B are among six new copper-gold prospects within Hammer’s Perentie project.

Others include the Susan and Spiros prospects which were identified from rock chip samples and are believed to have visible copper mineralisation at surface.

More than 100 samples have been assayed to date from Paddy B and Spiros, with 56 samples returning copper values greater than 1 per cent. 

Further assay results from the Susan prospect are expected next week.