Hammer Metals (ASX:HMX) hits copper-bearing sulphides at Ajax

<p style="text-align: center;"><img src="/ueditor/php/upload/image/20220214/1644819603121078.png" title="1644819603121078.png" alt="2.png"/></p><p style="text-align: justify;">Hammer Metals intercepts shallow copper-bearing sulphides at the Ajax prospect within its Mt Isa project in Queensland</p><p style="text-align: justify;">Results from one reconnaissance reverse circulation drillhole returned 10 metres at 3.5 per cent copper from 25 metres downhole</p><p style="text-align: justify;">The results are subject to confirmation by subsequent lab analysis using fire assay, however HMX says there is potential for the area to host multiple copper-gold deposits</p><p style="text-align: justify;">Follow-up drilling is being prioritised, however wet weather is providing a challenge and the team plans to monitor the conditions before preparing any new drill sites</p><p style="text-align: justify;">Company shares last traded at 7 cents on February 11</p><p style="text-align: justify;"><br/></p><p style="text-align: justify;">Hammer Metals (HMX) has intercepted shallow <a href="https://www.bearing-asia.com/products/catalogue.html" target="_blank" style="color: rgb(0, 112, 192); text-decoration: underline;"><span style="color: rgb(0, 112, 192);"><strong>copper-bearing</strong></span></a> sulphides at the Ajax prospect within its Mt Isa copper project in Queensland.</p><p style="text-align: justify;"><br/></p><p style="text-align: justify;">The preliminary results are from one reconnaissance reverse circulation hole drilled at the prospect which is situated along the 12 kilometre Trafalgar to Jubilee mineralised trend.</p><p style="text-align: justify;"><br/></p><p style="text-align: justify;">Interim portable XRF results returned 10 metres at 3.5 per cent copper from 25 metres, with a maximum individual one-metre PXRF analysis of 8.9 per cent copper.</p><p style="text-align: justify;"><br/></p><p style="text-align: justify;">According to the company, the mineralised interval is composed of a quartz vein within a biotite schist host, and the mineralisation is located in a local demagnetised zone.</p><p style="text-align: justify;"><br/></p><p style="text-align: justify;">While the results are subject to confirmation by subsequent lab analysis using fire assay, Managing Director Daniel Thomas said this is great first result.</p><p style="text-align: justify;"><br/></p><p style="text-align: justify;">“This interim result from our first drillhole into this prospect illustrates the potential of the Trafalgar to Jubilee trend to host multiple copper-gold deposits,” he said.</p><p style="text-align: justify;"><br/></p><p style="text-align: justify;">“This intercept is a testament to the team’s hard work over the past 12 months and it’s exciting as we look to drill several similar targets along this highly prospective trend.”</p><p style="text-align: justify;"><br/></p><p style="text-align: justify;">Now, the drillhole is set to be cased with PVC to enable the completion of a Downhole EM survey.</p><p style="text-align: justify;"><br/></p><p style="text-align: justify;">Hammer has prioritised follow up drilling at Ajax, however said wet weather events have presented challenging ground conditions which the team will continue to monitor and<br/>consider before preparing any new drill sites.</p><p style="text-align: justify;"><br/></p><p style="text-align: justify;">Dry conditions are expected to return towards the end of the month.</p><p style="text-align: justify;"><br/></p><p style="text-align: justify;">Results from a recent soil geochemical survey covering the prospect are also expected soon.</p><p style="text-align: justify;"><br/></p><p style="text-align: justify;">Company shares last traded at 7 cents on February 11.</p><p><br/></p>