Hammer Metals will extend the current drilling program on its Mount Isa fields joint venture with the Japan Oil, Gas and Metals National Corporation (JOGMEC).
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Hammer told the ASX Friday that to take advantage of rig availability, the Joint Venture has approved an extension to the current drilling program with an additional holes to follow up the copper and gold discovery at the Trafalgar prospect in Hammer's Mount Isa East Joint Venture.
It follows significant intercepts of copper and gold reported on January 20.
The December program comprised two holes at the Trafalgar prospect, and one each at Shadow and Even Steven South for a total 868m.
The additional holes are planned to be drilled from the opposite direction to confirm the width and continuity of mineralisation.
The additional drilling at Trafalgar will bring the current program to a close in line with the expected wet season.
The Trafalgar prospect forms part of an extensive copper-gold soil anomaly and magnetic trend which extends 2.7km with little previous exploration.
The current Mount Isa East Joint Venture drilling program recommenced on January 12 with drilling to be completed at the Shadow, Toby East, Alpha, Charlie and Juliett prospects.
Afterwards, the Joint Venture will interpret the results and plan to return with a follow up field program in April. The Trafalgar prospect is part of Hammer's Mount Isa East Joint Venture where JOGMEC is earning a 60% interest in the joint venture area by expending $6 million in funding on the exploration activities.
Hammer Managing director Daniel Thomas said the results were a "fantastic start" to the drilling program.
"To intercept a broad zone of sulphide mineralisation containing gold and copper with two wide-spaced holes is extremely encouraging," Mr Thomas said.
"While the oxide mineralisation at Trafalgar has been previously exploited by small-scale miners, there are no records or evidence of this system ever having been drill-tested."
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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.
