Hammer Metals Limited (ASX: HMX) has released a new tranche of assay results from its reverse circulation drilling program at the Kalman project in northwest Queensland. The company completed eight drill holes, confirming broad and continuous zones of copper-gold-molybdenum-rhenium mineralisation. The most notable result came from drill hole K162, which returned 165 meters at 1.96% copper equivalent. Other holes, including K163, K164, and K165, also intersected significant mineralisation, further validating the existing geological model used for current open-pit designs.

The primary objective of this drilling campaign is to increase the geological confidence of the mineral resource by upgrading Inferred resources to the Indicated category. This data is essential for the company to move forward with a maiden Scoping Study. Management notes that the recent drilling has already provided evidence that could lead to an expansion of the potential open-pit footprint, potentially enhancing the project's overall economics.

"These latest results continue to demonstrate the broad and continuous nature of copper, gold, molybdenum and rhenium mineralisation within the Kalman deposit, both along strike and at depth. Our drilling program has further increased confidence in the scale and continuity of the system and will support the progression of Kalman through the next phases of study and potential development."

— Daniel Thomas, Managing Director

While the core Kalman program is largely complete, there are several outstanding items. The company is currently awaiting check assays for 20 individual one-meter samples taken from the Kalman drill holes, which were assigned zero grade in the initial calculations pending laboratory verification.

Additionally, the company has completed exploratory drilling at the Black Rock and Lady Jenny prospects. Assay results for those programs are still pending. These upcoming results, alongside the finalisation of the check assays from the main Kalman deposit, will be released once they are received and processed by the technical team. This upcoming news flow will ultimately feed into the project’s advancement toward the planned scoping study, with management highlighting that the program met all operational expectations to date.

Read the full announcement: Additional Assays Grow Outstanding Kalman Intercept