Hammer Metals Reports 35m at 0.55% Cu and Expands Yandal Gold Footprint by 420km²
Hammer Metals advances exploration with new drilling programs at Yandal Gold and Mount Isa copper-gold projects, while expanding its footprint and progressing joint ventures.
- New drilling to commence at Bronzewing South gold targets
- Significant copper-gold intercepts at Mount Isa Tourist Zone and Mascotte
- Five new exploration license applications expand Yandal project area by 420km²
- Bullrush JV confirms IOCG alteration; Isa Valley JV drilling scheduled
- Cash balance steady at $2.6 million with $3.8 million in liquid holdings
Exploration Momentum Builds at Yandal Gold Project
Hammer Metals Limited is gearing up for a busy drilling season at its Yandal Gold Project in Western Australia, with programs set to test newly identified targets near the historic Bronzewing mine. The company’s recent geological review has highlighted several promising zones, including a high-grade mineralised structure less than 40 metres from its tenement boundary, previously identified by Great Central Mines in 1995 but never effectively drilled due to transported cover obscuring shallow exploration.
This upcoming drilling campaign will focus on depth and strike extensions around Hammer’s Central Target Zone, where previous results included intercepts such as 20 metres at 1.5 grams per tonne gold. The expansion of the project footprint by 420 square kilometres through five new exploration license applications further underscores Hammer’s commitment to unlocking the potential of this prolific gold belt.
Encouraging Copper-Gold Results at Mount Isa
In Queensland’s Mount Isa district, Hammer’s 100% owned copper-gold projects delivered broad mineralised intercepts in recent drilling at the Tourist Zone, including 35 metres at 0.55% copper and 0.10 grams per tonne gold. These results are notable for their similarity to nearby producing deposits, suggesting the area’s potential for economic mineralisation.
Additional drilling at the Mascotte prospect extended copper-gold mineralisation down-dip, with intercepts such as 6 metres at 1.25% copper and 0.23 grams per tonne gold. However, the mineralisation appears poddy and discontinuous, indicating that further work will be needed to delineate coherent ore zones.
Joint Ventures Progress and Strategic Partnerships
Hammer’s joint ventures continue to advance, with the Bullrush JV completing a four-hole diamond drilling program that confirmed the presence of iron oxide copper-gold (IOCG) style alteration and mineralisation. Although economic grades were not yet intersected, ongoing geophysical surveys and petrological studies aim to refine targeting for follow-up drilling.
Meanwhile, the Isa Valley JV with South32 is preparing for a fully funded drilling campaign scheduled for the upcoming quarter, targeting a soil and electromagnetic anomaly. These partnerships provide Hammer with valuable funding and technical collaboration to accelerate exploration across its extensive Mount Isa tenure.
Financial Position and Upcoming Catalysts
Hammer Metals closed the June quarter with a cash balance of $2.6 million and liquid holdings in listed entities valued at approximately $3.8 million. Exploration expenditure for the quarter was $1.18 million, reflecting active field programs and technical studies. The company reported no mining production during the period, consistent with its focus on exploration and resource definition.
Looking ahead, Hammer plans to commence drilling at Bronzewing South and Ken’s Bore gold targets in August, continue soil sampling across multiple projects, and advance geophysical programs at Bullrush. The Isa Valley JV drilling with South32 is expected to start in September, while a comprehensive review of Mount Isa’s geochemical and structural data remains underway.
Bottom Line?
Hammer Metals is positioning itself for a pivotal year of exploration, with new targets and joint ventures setting the stage for potential resource growth.
Questions in the middle?
- Will upcoming drilling at Bronzewing South confirm high-grade gold extensions beneath transported cover?
- Can the IOCG alteration at Bullrush translate into economic mineralisation in follow-up programs?
- How will the Isa Valley JV drilling results influence Hammer’s strategic focus in Mount Isa?
