11 December 2018
ASX Code: HMX
CAPITAL STRUCTURE:
Share Price (10/12/2018) $0.022
Shares on Issue 278m
Market Cap $6.1m
Options Listed 165m
Options Unlisted 21m
Significant Shareholders
Deutsche Rohstoff 12.6%
Resource Capital Fund VI 9.0%
Management 8.8%
HAMMER METALS LTD:
ABN 87 095 092 158
Suite 1, 827 Beaufort Street Mt Lawley WA 6052
T: +61 8 6369 1195
E:info@hammermetals.com.au W:www.hammermetals.com.au
DIRECTORS / MANAGEMENT:
Russell Davis Executive Chairman
Nader El Sayed Non-Executive Director
Ziggy Lubieniecki Non-Executive Director
Mark Pitts
Company Secretary
Mark Whittle
Chief Operating Officer
HAMMER AWARDED CEI GRANT FOR MT PHILP
BRECCIA IOCG PROJECT
Hammer Metals Limited (ASX: HMX) has been awarded a grant of up to $80,000 as part of the Collaborative Exploration Initiative ("CEI") funding from the Queensland Government as announced yesterday by the Queensland Minister for Natural Resources, Mines and Energy.
The CEI is awarded to exploration companies to encourage investment in Northwest Queensland by supporting up to a 50% refund of eligible costs associated with spending on exploration programs that employ innovative exploration techniques in under‐explored regions.
The grant will part‐fund a $250,000 exploration program which will lead up to an initial drill test of the prospective Mt Philp Breccia Iron Oxide Copper Gold (IOCG) target.
Hammer's proposed program will comprise aeromagnetic and radiometric interpretation, a ground gravity survey and the processing and modelling of geophysics, geology and geochemistry culminating in creating a three‐dimensional model of the project area and generation of drilling targets.
This CEI grant further reinforces Hammer's belief in the prospectivity of this target area which covers one of the largest known breccia complexes in the Mount Isa region. Recent age dating by Hammer has confirmed the existence of igneous intrusive activity of the same age as that believed to be associated with ore forming processes at the Ernest Henry deposit.
The program will begin immediately with the multi‐element analysis of over 1300 soil samples collected earlier in 2018.
Mt Philp Breccia red‐rock, hematite and magnetite alteration
Location of the Mt Philp Breccia between the Pilgrim and Fountain Range Faults.
About Hammer Metals
Hammer Metals Limited (ASX: HMX) holds a strategic tenement position covering approximately 3000km2 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‐Dorothy (Cu‐Au) deposit. Hammer also has a 75% interest in the Millennium (Cu‐Co‐Au) deposit and a 51% interest in the emerging Jubilee (Cu‐Au) project. Hammer is an active mineral explorer, focused on discovering large copper‐gold deposits of the Ernest Henry style and has a range of prospective targets at various stages of testing.
Competent Person's Statement:
Exploration Results
The information in this report as it relates to exploration results and geology was compiled by Mr. Mark Whittle, who is a Member of the AusIMM and a consultant to the Company. Mr. Whittle who is a shareholder and option‐holder, has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr. Whittle consents to the inclusion in the report of the matters based on the information in the form and context in which it appears.
Hammer Metals Mount Isa Project area