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Hammer Metals identifies copper-gold prospects from high-grade rock chips at Perentie

The four previously undiscovered prospects were found by 2015 AMEC Prospector of the Year Ziggy Lubieniecki.

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Chalcocite samples from the Paddy B prospect

Hammer Metals Ltd (ASX:HMX) has delineated four copper-gold prospects at its newly-termed Perentie Project in Queensland’s Mount Isa mining district.

The prospects were identified through multiple high-grade copper-gold assays in rock chips, with values up to 36% copper, 6.8 g/t gold and 23 g/t silver from the Spiros and Paddy B prospects.

Of 100 assays, 56 have returned copper values greater than 1%.

Rock chip assays from the Judith and Susan prospects are expected next week and drilling of all four targets will begin late this quarter.

READ: Hammer Metals drills best intersection to date at cobalt project

Hammer chief executive officer Alexander Hewlett said this was an exciting development for the company’s Mount Isa project.

He said: “Four new copper-gold systems have been identified in a short period of time and our targeting is indicating the potential for multiple similar zones within the Perentie area.

“This work has opened a new frontier for Hammer’s exploration in this prolific metalliferous region.”

Multiple other targets identified

The mineralisation at Perentie occurs in veined and ‘red-rock’ altered Williams-age Wimberu granite, coincident with magnetic lows developed along and at fault intersections.

This granite is considered to be associated with the development of iron oxide copper-gold (IOCG) mineralisation within the Mount Isa inlier.

Previous exploration by Hammer in the area has focused on strong magnetic and gravity features along the northern margin of the granite.

Multiple other targets with similar geophysical signatures in the area have been identified, with ground investigation of these targets underway.

Perentie forms part of the Dronfield joint venture between Hammer, who holds 80%, and Kabiri Pty Ltd.

Quick facts: Hammer Metals Ltd.

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