Hammer Metals' first results prove positive
The Jubilee copper-gold deposit is part of the Mount Frosty Joint Venture between Hammer Metals Limited (51 per cent and operator) and Mount Isa Mines Limited (49 per cent) and is located less than 1km from the Barkly highway, midway between Mount Isa and Cloncurry.
The mineral resource estimate for Jubilee comprises 1.4 million tonnes at 1.4 per cent copper and 0.62g/t gold in the inferred category at a 0.5 per cent copper cut-off grade.
Results of the first metallurgical program were encouraging with a peak copper recovery of 98 per cent and gold recovery of 80 per cent to a copper concentrate, chief operations officer Mark Whittle said.
The deposit remained open at depth and to the north and south, Mr Whittle said.
“The completion of the resource estimate brings Hammer one step closer to the commercialisation of the deposit,” he said.
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