Hammer Metals subsidiary Mt Dockerell Mining is buying two exploration permits that cover the Sunset and Black Rock copper‐gold prospects, 5km north-west of Hammer’s Jubilee and Elaine‐Dorothy copper‐gold deposits near the Mary Kathleen Mine.
The rock sequence that hosts the Black Rock and Sunset prospects is considered to have substantial exploration potential.
“The acquisition is an opportunity for Hammer Metals to acquire highly prospective exploration tenements that augment Hammer’s Mount Isa project,” executive chairman Russell Davis said.
“With further drilling the tenements have good potential to add additional copper and gold resources to the existing inventory, and specifically complement Hammer’s Elaine‐Dorothy and Jubilee copper‐gold deposits located nearby.”
Consideration for the acquisition is $25,000 cash and a 1.5 per cent NSR royalty. Completion remains subject to conditions.