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T (08) 6369 1195 E [email protected] ASX:HMX
ABN 87 095 092 158 P Unit 1, 28-30 Mayfair Street, West Perth, WA 6005 hammermetals.com.au
NORTH ORELIA DRILLING COMMENCES
• Drilling has commenced with an air core program designed to test soil geochemical anomalies identified at North Orelia
• The program is partly funded by a WA Government EIS grant and will complete approximately 10,000m of drilling at previously untested anomalies (see ASX announcement 15 September 2020)
• A detailed gravity survey planned for Bronzewing South has also commenced with the survey designed to better define structures and targets on the Bronzewing South property
Hammer Metals Ltd (ASX:HMX) (“Hammer” or the “Company”) is pleased to
advise that drilling has commenced at its Yandal Project with a planned 10,000m air
core program to test previously untested targets on the northern Orelia trend. The
program is expected to be completed during April with results likely to be received
through the second quarter of this year (see Figure 1 and 2).
The first trend to be tested is roughly coincident with Hammer’s Target 3 anomaly
but extends along the Target 3 zone to the north and south. This is a significant
anomaly and is approximately 5.6km in length and up to 800m in width (at the 3ppb
gold contour). Gold is closely related with presence of arsenic, antimony and
tellurium.
The second trend located to the east of Target 3 and close to a Granite-Greenstone
contact is approximately 1.1km by 800m (at the 3ppb gold contour). No drilling has
been conducted over this large anomaly.
Other discrete targets near Target 1 and to the east of previous drilling at Target 4
are also planned for this program.
A follow up gravity survey at Bronzewing South has also commenced with the survey
area to focus on the trend immediately south of the Bronzewing gold mine (see
Figure 3). The survey will help aid definition of the cross-cutting fault structures
whilst also identifying zones of interpretated quartz and carbonate veining.
Hammer’s Managing Director, Daniel Thomas said:
“The team is enthusiastically looking forward to re-commencing field activities in the
Yandal region for this year and progressing the anomalous soil sample zones
identified during last year’s field programs.
The second quarter is shaping as a busy period for Hammer with the return to drilling
in both the Yandal and Mount Isa regions. A return to drilling in the Mount Isa region
is also scheduled for April with a number of excellent targets likely to form the basis
of a significant field program in 2021.”
ASX RELEASE 30 March 2021
DIRECTORS /
MANAGEMENT
Russell Davis
Chairman
Daniel Thomas
Managing Director
Ziggy Lubieniecki
Non-Executive Director
David Church
Non–Executive Director
Mark Pitts
Company Secretary
Mark Whittle
Chief Operating Officer
CAPITAL STRUCTURE
ASX Code: HMX
Share Price (29/03/2021) $0.087
Shares on Issue 750m
Market Cap $65.3m
Options Unlisted 27m
Performance Rights 6.5m
Figure 1. North Orelia Soil Survey Gold Anomaly Results
Page 3 of 6
Figure 2. North Orelia Soil Survey Multi-Element Anomalies
Page 4 of 6
Figure 3. Bronzewing South area showing the area of the Phase 2, 50m station spaced gravity survey (dark
blue)
Page 5 of 6
Figure 4. Hammer Metals Bronzewing South Project Area
Page 6 of 6
This announcement has been authorised for issue by the Board of Hammer Metals Limited in accordance with ASX
Listing Rule 15.5.
For further information please contact:
Daniel Thomas Managing Director T +61 8 6369 1195 E [email protected]
- END -
About Hammer Metals
Hammer Metals Limited (ASX: HMX) holds a 100% interest in the Bronzewing South Gold Project located
adjacent to the 2.3 million-ounce Bronzewing gold deposit in the highly endowed Yandal Belt of Western
Australia. Hammer holds a strategic tenement position covering approximately 2,200km2 within the Mount Isa
mining district, with 100% interests in the Kalman (Cu-Au-Mo-Re) deposit, the Overlander North and Overlander
South (Cu-Co) deposits and the Elaine (Cu-Au) deposit. Hammer also has a 51% interest in the emerging
Jubilee (Cu-Au) deposit. Hammer is an active mineral explorer, focused on discovering large copper-gold
deposits of Ernest Henry style and has a range of prospective targets at various stages of testing.