Hammer Metals Identifies High-Grade Mineralization at Queensland Critical Metals Project, Shares Hit Three-Year High

MT Newswires Live08-06 09:22

Hammer Metals (ASX:HMX) identified high-grade mineralization during recent drilling at its Kalman critical metals project in Queensland, as well as from the Black Rock iron oxide copper-gold (IOCG) and Lady Jenny copper-gold prospects, according to a Thursday Australian bourse filing.

The results were of up to one meter at 3.23% molybdenum and 74 grams per tonne grade of rhenium from 220 meters, or 15.7% copper equivalent recoverable (CuEqRec), and one meter at 4.15% molybdenum and 107g/t rhenium from 267 meters, or 20.7% CuEqRec.

Drilling at Black Rock remains widely spaced with considerable potential to delineate a significant copper-gold resource at the prospect, the filing added.

The company's shares rose 4% to their highest price since May 2023 in recent Thursday trade.

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