Hammer Metals and Sumitomo joint venture

Hammer Metals (ASX:HMX), in partnership with Sumitomo Metal Mining Oceania, is preparing to drill high-priority Iron Oxide Copper-Gold targets in the Mount Isa region by early 2025. This initiative is part of the Bullrush Joint Venture, targeting potential mineral deposits under Cambrian cover.

Outlook for Hammer Metals' exploration

Hammer Metals, through its joint venture with Sumitomo Metal Mining Oceania, is advancing its exploration efforts in the Mount Isa region with plans to drill identified IOCG targets. The Bullrush Joint Venture aims to uncover a Tier-1 IOCG system, leveraging geophysical surveys and data modeling to guide exploration. The region's strategic importance is underscored by its proximity to copper-rich intrusives and previous successful drill results by other companies. Hammer Metals remains committed to exploring its portfolio, with aspirations to enhance its understanding of the region's geological potential and achieve significant mineral discoveries.

Executive insights on upcoming exploration

The JV has outlined four drill targets based on extensive geophysical surveys, including in-fill gravity, magneto-telluric surveys, and 3D geophysical data modeling. The drilling aims to explore the potential of these targets, each characterized by significant coincident gravity and magnetic features, with the southern targets also showing lower resistivity zones.