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HAMMER METALS LIMITED Capital/Financing Update 2020

Feb 17, 2020

65065_rns_2020-02-17_922d43fb-4d64-4e28-a3fa-38a87b009a45.pdf

Capital/Financing Update

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ASX RELEASE 18 February 2020

DIRECTORS / MANAGEMENT

Russell Davis Non – Executive Chairman

Daniel Thomas Managing Director

Nader El Sayed Non–Executive Director

Ziggy Lubieniecki Non-Executive Director

Mark Pitts Company Secretary

Mark Whittle Chief Operating Officer

CAPITAL STRUCTURE

HAMMER’S 2020 EXPLORATION PROGRAMS COMMENCE

Mount Isa – JOGMEC Joint Venture

  • On ground exploration activities have commenced on the JOGMEC Joint Venture areas within Hammer Metals’ Mount Isa project.

  • Detailed gravity surveys across the Even Steven, Mount Philp, Dronfield West and Malbon project areas are underway.

  • In addition, ground EM survey of the Toby and Charlie prospects has commenced along with detailed geological prospect mapping of the target areas.

  • Hammer’s early activities at the Shadow Prospect continues to highlight the area’s prospectivity with visible observations of chalcopyrite in a breccia evident over a strike extent of 350m and maximum width of 100m. Rock chip sampling in 2019 recorded a maximum individual grade of 4.6g/t Au and 27.7% Copper (see ASX Release dated 10 September 2019).

  • The current program is expected to firm up the first round of targets for drill testing early in the second quarter.

Bronzewing South – North Orelia

  • A thorough review of Hammer’s recent Bronzewing South drilling, historical drill results and an updated interpretation of the IP survey completed by Hammer (See ASX 15 August 2019) has generated an improved understanding of the target geology and has identified several targets that have not been previously tested.

ASX Code: HMX

Share Price (17/2/2019) $0.024 Shares on Issue 559m Market Cap $13.4m Options Listed 190m Options Unlisted 33m Performance Rights 8m

  • A combined aircore and reverse circulation drill program of 12,000m will start later this week and will drill targets at North Orelia, Bronzewing South and an initial scouting program at Ken’s Bore.

  • Final split samples from the North Orelia program have been reported and a full intercept listing is shown in Table 1.

==> picture [328 x 173] intentionally omitted <==

•

Figure 1: Shadow Breccia

Mount Isa Project – JOGMEC JV

The first JOGMEC JV program commenced on January 26[th] with all work programs now underway. The key elements of the program are:

  • Ground-based gravity surveys in each of the four joint venture target areas, Even Steven, Mount Philp Breccia, Dronfield West and Malbon (Figure 4) being conducted by two survey teams;

  • Ground electromagnetic (EM) surveys at Toby and Charlie following up on previously reported coincidental VTEM anomalies and rock chips with maximum individual grades of up to 18.4g/t Au and 15.15% Cu (see ASX release dated 15 October 2018);

  • Detailed mapping at Shadow to define drill targets. Shadow is located on the margin of the Mt Philp Breccia and is composed of a magnetite rich breccia over 350m long and 100m wide. Sampling in 2019 indicated mineralisation with maximum individual grades of up to 4.64g/t Au and 27.7% Cu (see ASX release dated 10 September 2019); and

  • Geological interpretation and targeting by experienced consultants utilising the available geology, geochemical and high-resolution geophysical datasets

The Phase 1 program is designed to collect baseline data over the large IOCG target areas as well as more detailed programs at prospects such as Shadow, Toby-Charlie, Trafalgar and Pearl to finalise targets for drilling anticipated in the next quarter.

==> picture [407 x 391] intentionally omitted <==

Figure 2: Shadow Prospect – Mineralised sample identified during initial field work

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Figure 3: Hammer Metals Mount Isa Project area showing the JOGMEC JV areas.
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Figure 4: JOGMEC JV areas of activity
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Bronzewing South Project

Following Hammer’s maiden exploration programs at Bronzewing South and the North Orelia trend (Figure 5), a detailed review of Hammer’s drilling, IP survey results and the historical data has helped Hammer refine its targeting process at Bronzewing South.

A number of targets remain to be fully tested including several coincident geophysical and geochemical features at Gaudron that are adjacent to some of the better RC drilling results on the project (BWSRC004 8m @ 1.36g/t Au from 199m including 8m @ 1.46g/t Au from 224m – See ASX release dated 2 October 2019).

As shown in Figure 6, there is limited deeper drilling on the property with previous holes mostly focussing on the Eastern Shear structure. This focus has resulted in sparse deeper drill testing of the Bapinmarra Dolerite unit which appears to control the western margin of mineralisation at Bronzewing. The intersection of northeast trending structures and the dolerite are considered to be prime locations for repeats of the Bronzewing style of mineralisation. Further aircore drilling is planned for these areas.

North Orelia

Final results of the split samples from Target 3 at the North Orelia trend have now been received. (Refer to Table 1) with the results in line with expectations.

The 2019 drilling program identified several strong reverse circulation drilling targets at Target 1. The continuation of this trend to the south and north will be tested with a combination of reverse circulation and air core drilling.

Whilst first phase drilling at Target 2 did not return significant mineralised intersections, the broad geochemical signature at the target warrants follow up.

Target 4 which was not tested in the 2019 program will be drilled as part of the upcoming air core program (Figure 7).

Ken’s Bore

Ken’s Bore is located 12km to the south of Bronzewing. Significant gold values in rock chips of 22.2g/t, 12.9g/t, 6.1g/t and 7.7g/t have been returned from this area (Refer to ASX announcement dated 2 October 2019). A review of open file reports of work conducted by Audax Resources Ltd noted that rock chip sampling in the same area reported grades of up to 497g/t - see to ASX release date 2 October 2019.[1] . Drilling will test beneath the zone of high-grade rock chips which is adjacent to an untested ground EM anomaly recently remodelled by Hammer.[2] (Figure 8).

1 Sourced from open file Mines Department reports by Audax Resources Ltd. This work was conducted in 2006-2007 on E36/215 (A074761). The data underlying these rock chips has been validated by Hammer Metals Ltd personnel and it is the opinion of Hammer Metals that the historic exploration data are reliable.

2 Sourced from open file Mines Department reports by Audax Resources Ltd. This work was conducted in 2006-2007 on E36/215 (A074761). Full data was supplied with this report and submitted to the Western Australian Mines Department. Southern Geoscience consultants undertook the modelling of this data on behalf of Hammer. It is the opinion that the geophysical data is good quality and it is the opinion of both Hammer Metals Limited and their consultants that the exploration data are reliable,

Upcoming Exploration Work at Bronzewing South, North Orelia and Ken’s Bore

Hammer expects to commence drilling of the combined 12,000m air core and RC drilling program this week. Results will be reported as they become available. The key elements of the second Bronzewing drilling campaign are:

  • Building on results from the first North Orelia aircore program further drilling is planned at Orelia on all targets with reverse circulation drilling planned in select areas within Target 1. (Figure 7);

  • Infill air core drilling will be completed to the west of Targets 2, whilst first pass drilling at Target 4 will also be completed at North Orelia;

  • At Bronzewing South aircore drilling is planned on the eastern margin of the Bapinmarra Dolerite which is interpreted as a key controlling feature of mineralisation at Bronzewing (Figure 6); and

  • Reverse circulation drilling is planned at the Ken’s Bore Prospect testing a geophysical anomaly located beneath a zone of gold-bearing rock chip samples (Figure 8).

Hammer’s Managing Director, Daniel Thomas said:

“It’s pleasing to see the evolution of Hammer’s exploration programs. To effectively plan two aggressive field programs on separate projects is a testament to the organisation and capabilities of a small, flexible, agile and forward-thinking team.

The upcoming months will provide a steady stream of new geological information and advanced drilling targets in Mount Isa, whilst also providing shareholders with drill results from our prospects at Bronzewing”.

For further information please contact:

Daniel Thomas Mark Whittle Managing Director Chief Operating Officer

T +61 8 6369 1195 E [email protected]

- END -

This announcement has been approved by Mr Daniel Thomas, Managing Director, Hammer Metals Limited.

About Hammer Metals

Hammer Metals Limited (ASX: HMX) holds a strategic tenement position covering approximately 2,200km[2] within the Mount Isa mining district, with 100% interests in the Kalman (Cu-Au-Mo-Re) deposit, the Overlander North and Overlander South (Cu-Co) deposits and the Elaine (Cu-Au) deposit. Hammer also has a 51% interest in the emerging Jubilee (Cu-Au) deposit. Hammer Metals also recently acquired the Bronzewing South Gold Project located adjacent to the 2.3 million-ounce Bronzewing gold deposit in the highly endowed Yandal Belt of Western Australia.

About JOGMEC : Japan Oil, Gas and Metals National Corporation is a Japanese government Independent Administration Institution tasked to ensure a stable supply of mineral resources for Japan. JOGMEC has a demonstrated track record of participating in the Australian mineral exploration industry. Further details about JOGMEC can be found on the corporations website: http://www.jogmec.go.jp/english/index.html

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Figure 5: Target areas at the Bronzewing South Project

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Figure 6: Bronzewing South showing main drilling targets and existing reverse circulation drillholes.
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==> picture [440 x 624] intentionally omitted <==

Figure 7: Zones selected for further drill testing at Orelia.

==> picture [435 x 363] intentionally omitted <==

Figure 8: Kens Bore Target showing modelled geophysical plate, rock chip locations, major structures and select magnetic contours

Competent Person Statements

The information in this report as it relates to exploration results and geology was compiled by Mr. Mark Whittle, who is a Fellow of the AusIMM and an employee of the Company. Mr. Whittle, who is a shareholder and optionholder, has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr. Whittle consents to the inclusion in the report of the matters based on the information in the form and context in which it appears.

Table 1 - Final intercept listing from 2019 Orelia Drilling

BRONZEWING SOUTH PROJECT - ORELIA TREND - SIGNIFICANT BRONZEWING SOUTH PROJECT - ORELIA TREND - SIGNIFICANT BRONZEWING SOUTH PROJECT - ORELIA TREND - SIGNIFICANT BRONZEWING SOUTH PROJECT - ORELIA TREND - SIGNIFICANT BRONZEWING SOUTH PROJECT - ORELIA TREND - SIGNIFICANT BRONZEWING SOUTH PROJECT - ORELIA TREND - SIGNIFICANT BRONZEWING SOUTH PROJECT - ORELIA TREND - SIGNIFICANT BRONZEWING SOUTH PROJECT - ORELIA TREND - SIGNIFICANT INTERCEPTS(UTILISING A 0.1g/t Au CUT-OFF) INTERCEPTS(UTILISING A 0.1g/t Au CUT-OFF) INTERCEPTS(UTILISING A 0.1g/t Au CUT-OFF) INTERCEPTS(UTILISING A 0.1g/t Au CUT-OFF) INTERCEPTS(UTILISING A 0.1g/t Au CUT-OFF)
Target Hole E_GDA94 N_GDA94 RL TD **Dip ** Az_GDA From To Width Au Av(g/t)
1 BWSAC0001 291816 6976987 500 68 -60 74 No Significant Intercepts
1 BWSAC0002 291796 6976981 500 84 -60 74 No Significant Intercepts
1 BWSAC0003 291778 6976977 500 51 -60 78 No Significant Intercepts
1 BWSAC0004 291754 6976974 500 33 -60 77 No Significant Intercepts
1 BWSAC0005 291740 6976970 500 32 -60 77 No Significant Intercepts
1 BWSAC0006 291815 6976937 500 57 -60 80 56 57 1 0.10
1 BWSAC0007 291801 6976933 500 17 -60 77 No Signficant Intercepts
1 BWSAC0008 291783 6976928 500 30 -60 77 20 24 4 0.10
1 BWSAC0009 291761 6976925 500 24 -60 77 No Significant Intercepts
1 BWSAC0010 291743 6976922 500 28 -60 77 No Significant Intercepts
1 BWSAC0011 291835 6976892 500 75 -60 77 No Significant Intercepts
1 BWSAC0012 291816 6976884 500 39 -60 77 No Significant Intercepts
1 BWSAC0013 291796 6976880 500 51 -60 77 No Significant Intercepts
1 BWSAC0014 291781 6976876 500 27 -60 77 No Significant Intercepts
1 BWSAC0015 291760 6976870 500 30 -60 77 No Significant Intercepts
1 BWSAC0016 291744 6976865 500 33 -60 77 No Significant Intercepts
1 BWSAC0017 291883 6976591 500 64 -60 78 No Significant Intercepts
1 BWSAC0018 291863 6976586 500 72 -60 77 No Significant Intercepts
1 BWSAC0019 291846 6976580 500 5 -60 77 No Significant Intercepts
1 BWSAC0019A 291846 6976581 500 61 -60 79 20 21 1 0.33
1 BWSAC0020 291830 6976577 500 18 -60 77 No Significant Intercepts
1 BWSAC0020A 291831 6976580 500 64 -60 77 23 29 6 0.18
incl. 28 29 1 0.45
1 BWSAC0021 291807 6976578 500 20 -60 78 No Significant Intercepts
1 BWSAC0022 291789 6976569 500 10 -60 78 No Significant Intercepts
1 BWSAC0023 291772 6976566 500 27 -60 78 0 7 7 0.20
incl. 5 6 1 0.68
1 BWSAC0024* 291747 6976561 500 18 -60 78 12 15 3 0.86
incl. 14 15 1 1.01
1 BWSAC0025* 291730 6976559 500 15 -60 78 0 3 3 0.29
1 BWSAC0026* 291711 6976554 500 30 -60 78 12 26 14 1.80
incl. 17 18 1 3.49
& 21 24 3 5.57
1 BWSAC0027* 291691 6976551 500 38 -60 78 32 36 4 0.87
incl. 35 36 1 2.87
1 BWSAC0028 291871 6976539 500 72 -60 78 No Significant Intercepts
1 BWSAC0029 291851 6976536 500 9 -60 78 7 9 2 0.45
1 BWSAC0029A 291852 6976537 500 61 -60 80 10 20 10 0.28
incl. 13 15 2 0.63
1 BWSAC0030 291832 6976532 500 9 -60 78 No Significant Intercepts
1 BWSAC0030A 291832 6976534 500 64 -60 75 24 26 2 0.23
38 39 1 0.15
46 48 2 0.27
1 BWSAC0031 291813 6976527 500 26 -60 78 23 24 1 0.39
1 BWSAC0032 291791 6976523 500 55 -60 77 25 45 20 0.41
incl. 31 32 1 1.99
& 36 37 1 2.21
Note
* - Intercepts include split sampling results
^ - Split samplingassayspending
Coordinates and azimuth relative to GDA 94 Zone 51
BRONZEWING SOUTH PROJECT - ORELIA TREND - SIGNIFICANT BRONZEWING SOUTH PROJECT - ORELIA TREND - SIGNIFICANT BRONZEWING SOUTH PROJECT - ORELIA TREND - SIGNIFICANT BRONZEWING SOUTH PROJECT - ORELIA TREND - SIGNIFICANT BRONZEWING SOUTH PROJECT - ORELIA TREND - SIGNIFICANT BRONZEWING SOUTH PROJECT - ORELIA TREND - SIGNIFICANT BRONZEWING SOUTH PROJECT - ORELIA TREND - SIGNIFICANT BRONZEWING SOUTH PROJECT - ORELIA TREND - SIGNIFICANT INTERCEPTS(UTILISING A 0.1g/t Au CUT-OFF) INTERCEPTS(UTILISING A 0.1g/t Au CUT-OFF) INTERCEPTS(UTILISING A 0.1g/t Au CUT-OFF) INTERCEPTS(UTILISING A 0.1g/t Au CUT-OFF) INTERCEPTS(UTILISING A 0.1g/t Au CUT-OFF)
Target Hole E_GDA94 N_GDA94 RL TD **Dip ** Az_GDA From To Width Au Av(g/t)
1 BWSAC0033 291770 6976518 500 37 -60 77 12 16 4 0.19
1 BWSAC0034* 291751 6976515 500 36 -60 77 19 20 1 0.84
1 BWSAC0035* 291733 6976512 500 31 -60 79 0 12 12 0.23
incl. 3 4 1 0.79
& 11 12 1 0.21
1 BWSAC0036* 291710 6976509 500 22 -60 79 17 20 3 1.65
incl. 17 18 1 3.99
1 BWSAC0037 291886 6976497 500 66 -60 74 No Significant Intercepts
1 BWSAC0038 291872 6976489 500 62 -60 73 1 2 1 0.39
1 BWSAC0039 291851 6976482 500 59 -60 72 12 15 3 0.82
incl. 12 13 1 2.29
& 51 52 1 0.36
1 BWSAC0040 291827 6976481 500 61 -60 73 7 15 8 0.24
incl. 12 13 1 0.61
23 24 1 0.35
1 BWSAC0041 291811 6976473 500 61 -60 74 13 23 10 0.19
incl. 21 22 1 0.68
50 51 1 0.16
1 BWSAC0042 291795 6976468 500 50 -60 74 40 44 4 0.25
1 BWSAC0043 291775 6976465 500 41 -60 74 No Significant Intercepts
1 BWSAC0044* 291761 6976460 500 29 -60 74 26 27 1 2.04
1 BWSAC0045* 291742 6976453 500 35 -60 74 9 15 6 0.30
1 BWSAC0046 291718 6976449 500 26 -60 74 No Significant Intercepts
1 BWSAC0047 291796 6976830 500 11 -60 76 No Significant Intercepts
1 BWSAC0048 291779 6976826 500 14 -60 77 No Significant Intercepts
1 BWSAC0049 291759 6976825 500 35 -60 77 No Significant Intercepts
1 BWSAC0050 291860 6976796 500 48 -60 77 No Significant Intercepts
1 BWSAC0051 291842 6976788 500 50 -60 77 No Significant Intercepts
1 BWSAC0052 291821 6976783 500 8 -60 77 4 8 4 0.11
1 BWSAC0053 291803 6976778 500 19 -60 77 No Significant Intercepts
1 BWSAC0054 291784 6976775 500 36 -60 76 No Significant Intercepts
1 BWSAC0055 291765 6976771 500 28 -60 76 12 16 4 0.11
1 BWSAC0056 291747 6976764 500 35 -60 75 No Significant Intercepts
1 BWSAC0057 291728 6976763 500 33 -60 75 No Significant Intercepts
1 BWSAC0058 291703 6976757 500 10 -60 75 No Significant Intercepts
1 BWSAC0059 291685 6976752 500 34 -60 75 No Significant Intercepts
1 BWSAC0060 291843 6976738 500 61 -60 77 0 4 4 0.12
& 12 16 4 0.10
1 BWSAC0061* 291823 6976734 500 39 -60 77 4 23 19 0.63
incl. 13 14 1 8.77
1 BWSAC0062* 291807 6976727 500 55 -60 76 19 34 15 0.25
incl. 21 22 1 1.16
44 48 4 0.13
1 BWSAC0063 291785 6976725 500 31 -60 76 No Significant Intercepts
1 BWSAC0064* 291845 6976636 500 54 -60 76 4 5 1 0.97
1 BWSAC0065* 291827 6976633 500 63 -60 80 16 36 20 0.28
incl. 28 30 2 1.82
1 BWSAC0066 291790 6976626 500 30 -60 79 No Significant Intercepts
1 BWSAC0067 291769 6976619 500 14 -60 77 No Significant Intercepts
1 BWSAC0068* 291750 6976616 500 29 -60 74 0 8 8 0.27
incl. 1 2 1 0.62
1 BWSAC0069* 291710 6976607 500 16 -60 79 2 16 14 0.37
incl. 7 9 2 1.43
1 BWSAC0070 291835 6976430 500 30 -60 75 0 4 4 0.11
1 BWSAC0071* 291813 6976421 500 40 -60 75 24 32 8 0.65
incl. 29 32 3 1.54
1 BWSAC0072* 291797 6976415 500 37 -60 74 20 21 1 0.68
Note
* - Intercepts include split samplingresults
^ - Split samplingassayspending
Coordinates and azimuth relative to GDA 94 Zone 51
BRONZEWING SOUTH PROJECT - ORELIA TREND - SIGNIFICANT INTERCEPTS(UTILISING A 0.1g/t Au CUT-OFF)
Target Hole E_GDA94 N_GDA94 RL TD **Dip ** Az_GDA From To Width Au Av(g/t)
1 BWSAC0073* 291776 6976413 500 49 -60 74 20 28 8 0.13
& 44 48 4 0.56
1 BWSAC0074 291754 6976411 500 31 -60 74 No Significant Intercepts
1 BWSAC0075 291930 6976400 500 45 -60 75 No Significant Intercepts
1 BWSAC0076 291915 6976397 500 47 -60 75 No Significant Intercepts
1 BWSAC0077 291894 6976389 500 57 -60 75 No Significant Intercepts
1 BWSAC0078 291876 6976387 500 53 -60 75 No Significant Intercepts
1 BWSAC0079 291856 6976381 500 22 -60 75 0 4 4 0.10
1 BWSAC0080 291837 6976377 500 32 -60 77 12 16 4 0.13
1 BWSAC0081 291819 6976374 500 15 -60 80 No Significant Intercepts
1 BWSAC0082* 291798 6976367 500 43 -60 80 10 12 2 0.23
1 BWSAC0083* 291776 6976364 500 45 -60 80 33 36 3 0.22
1 BWSAC0084 291753 6976364 500 45 -60 78 No Significant Intercepts
1 BWSAC0085 291732 6976363 500 34 -60 78 No Significant Intercepts
1 BWSAC0086 291888 6976290 500 44 -60 76 No Significant Intercepts
1 BWSAC0087 291874 6976282 500 18 -60 76 0 4 4 0.13
1 BWSAC0088 291858 6976281 500 28 -60 76 8 16 8 0.12
1 BWSAC0089* 291837 6976276 500 35 -60 77 8 12 4 0.35
26 29 3 2.68
incl. 26 27 1 4.12
1 BWSAC0090* 291818 6976270 500 32 -60 76 12 24 12 0.16
incl. 20 21 1 0.56
1 BWSAC0091 291802 6976267 500 17 -60 76 No Significant Intercepts
1 BWSAC0092 291779 6976261 500 14 -60 76 8 14 6 0.20
1 BWSAC0093 291762 6976256 500 34 -60 77 No Significant Intercepts
1 BWSAC0094 291861 6976229 500 30 -60 77 4 8 4 0.15
1 BWSAC0095* 291840 6976224 500 29 -60 77 19 20 1 1.52
1 BWSAC0096* 291819 6976222 500 44 -60 77 24 38 14 0.29
incl. 37 38 1 2.52
1 BWSAC0097 291798 6976217 500 32 -60 75 No Significant Intercepts
1 BWSAC0098 291779 6976213 500 26 -60 75 12 16 4 0.13
1 BWSAC0099 291894 6976191 500 53 -60 78 16 20 4 0.12
1 BWSAC0100 291877 6976187 500 19 -60 77 No Significant Intercepts
1 BWSAC0101 291862 6976181 500 33 -60 77 No Significant Intercepts
1 BWSAC0102 291840 6976178 500 22 -60 77 12 16 4 0.15
1 BWSAC0103 291821 6976173 500 11 -60 76 No Significant Intercepts
1 BWSAC0104 291801 6976168 500 16 -60 75 No Significant Intercepts
1 BWSAC0105* 291787 6976160 500 32 -60 74 12 22 10 0.15
1 BWSAC0106 291942 6976090 500 58 -60 82 No Significant Intercepts
1 BWSAC0107 291924 6976086 500 60 -60 79 No Significant Intercepts
1 BWSAC0108 291901 6976080 500 16 -60 80 No Significant Intercepts
1 BWSAC0109 291881 6976080 500 30 -60 78 No Significant Intercepts
1 BWSAC0110 291852 6976072 500 13 -60 80 No Significant Intercepts
1 BWSAC0111 291839 6976074 500 15 -60 80 12 15 3 0.15
1 BWSAC0112 291825 6976065 500 26 -60 80 No Significant Intercepts
1 BWSAC0113 291804 6976062 500 44 -60 70 24 28 4 0.12
1 BWSAC0114 291956 6976047 500 58 -60 77 No Significant Intercepts
Note
* - Intercepts include split samplingresults
^ - Split samplingassayspending
Coordinates and azimuth relative to GDA 94 Zone 51
BRONZEWING SOUTH PROJECT - ORELIA TREND - SIGNIFICANT BRONZEWING SOUTH PROJECT - ORELIA TREND - SIGNIFICANT BRONZEWING SOUTH PROJECT - ORELIA TREND - SIGNIFICANT BRONZEWING SOUTH PROJECT - ORELIA TREND - SIGNIFICANT BRONZEWING SOUTH PROJECT - ORELIA TREND - SIGNIFICANT BRONZEWING SOUTH PROJECT - ORELIA TREND - SIGNIFICANT BRONZEWING SOUTH PROJECT - ORELIA TREND - SIGNIFICANT BRONZEWING SOUTH PROJECT - ORELIA TREND - SIGNIFICANT INTERCEPTS(UTILISING A 0.1g/t Au CUT-OFF) INTERCEPTS(UTILISING A 0.1g/t Au CUT-OFF) INTERCEPTS(UTILISING A 0.1g/t Au CUT-OFF) INTERCEPTS(UTILISING A 0.1g/t Au CUT-OFF) INTERCEPTS(UTILISING A 0.1g/t Au CUT-OFF)
Target Hole E_GDA94 N_GDA94 RL TD **Dip ** Az_GDA From To Width Au Av(g/t)
1 BWSAC0115* 291936 6976045 500 60 -60 77 0 12 12 0.51
incl. 5 6 1 2.53
& 10 11 1 1.51
1 BWSAC0116 291916 6976040 500 0.3 -60 76 Hole Abandoned
1 BWSAC0117* 291891 6976035 500 24 -60 77 13 24 11 0.70
incl. 16 17 1 2.10
& 21 24 3 1.23
1 BWSAC0118 291878 6976028 500 49 -60 77 36 40 4 0.10
1 BWSAC0119 291978 6976021 500 50 -60 76 No Significant Intercepts
1 BWSAC0120 291962 6976014 500 56 -60 75 No Significant Intercepts
1 BWSAC0121* 291939 6976007 500 60 -60 74 9 19 10 1.82
incl. 12 15 3 5.78
1 BWSAC0122 291916 6976003 500 38 -60 74 4 8 4 0.10
28 36 8 0.11
1 BWSAC0123 291899 6975999 500 30 -60 79 4 8 4 0.12
& 17 18 1 0.79
1 BWSAC0124 291885 6975992 500 38 -60 80 4 8 4 0.19
1 BWSAC0125 291861 6975988 500 31 -60 81 No Significant Intercepts
1 BWSAC0126* 291943 6975941 500 51 -60 78 20 32 12 0.20
incl. 30 31 1 1.02
1 BWSAC0127* 291923 6975938 500 24 -60 80 8 18 10 0.77
incl. 9 11 2 2.80
2 BWSAC0128 293150 6975029 500 47 -60 77 No Significant Intercepts
2 BWSAC0129 293132 6975025 500 3 -60 79 Hole abandoned
2 BWSAC0129A 293131 6975025 500 47 -60 79 No Significant Intercepts
2 BWSAC0130 293116 6975022 500 48 -60 78 No Significant Intercepts
2 BWSAC0131 293092 6975019 500 13 -60 79 No Significant Intercepts
2 BWSAC0132 293074 6975014 500 13 -60 80 No Significant Intercepts
2 BWSAC0133 293229 6975049 500 22 -60 76 No Significant Intercepts
2 BWSAC0134 293210 6975044 500 20 -60 78 No Significant Intercepts
2 BWSAC0135 293193 6975037 500 43 -60 78 No Significant Intercepts
2 BWSAC0136 293167 6975031 500 42 -60 76 No Significant Intercepts
2 BWSAC0137 293230 6974998 500 23 -60 74 No Significant Intercepts
2 BWSAC0138 293210 6974988 500 30 -60 77 No Significant Intercepts
2 BWSAC0139 293191 6974986 500 40 -60 79 11 12 1 0.64
2 BWSAC0140 293167 6974985 500 61 -60 78 No Significant Intercepts
2 BWSAC0141 293231 6974947 500 28 -60 75 No Significant Intercepts
2 BWSAC0142 293212 6974940 500 41 -60 75 No Significant Intercepts
2 BWSAC0143 293195 6974937 500 52 -60 75 No Significant Intercepts
2 BWSAC0144 293173 6974931 500 45 -60 75 No Significant Intercepts
2 BWSAC0145 293400 6974476 500 30 -60 75 No Significant Intercepts
2 BWSAC0146 293381 6974472 500 44 -60 74 No Significant Intercepts
2 BWSAC0147 293361 6974468 500 33 -60 75 No Significant Intercepts
2 BWSAC0148 293344 6974464 500 40 -60 75 No Significant Intercepts
2 BWSAC0149 293323 6974458 500 56 -60 75 No Significant Intercepts
2 BWSAC0150 293303 6974450 500 64 -60 76 No Significant Intercepts
2 BWSAC0151 293285 6974444 500 58 -60 77 No Significant Intercepts
2 BWSAC0152 293269 6974437 500 19 -60 79 No Significant Intercepts
2 BWSAC0153 293246 6974436 500 13 -60 77 No Significant Intercepts
2 BWSAC0154 293223 6974431 500 15 -60 77 No Significant Intercepts
2 BWSAC0155 293423 6974378 500 45 -60 79 No Significant Intercepts
2 BWSAC0156 293401 6974376 500 35 -60 76 No Significant Intercepts
Note
* - Intercepts include split samplingresults
^ - Split samplingassayspending
Coordinates and azimuth relative to GDA 94 Zone 51
BRONZEWING SOUTH PROJECT - ORELIA TREND - SIGNIFICANT BRONZEWING SOUTH PROJECT - ORELIA TREND - SIGNIFICANT BRONZEWING SOUTH PROJECT - ORELIA TREND - SIGNIFICANT BRONZEWING SOUTH PROJECT - ORELIA TREND - SIGNIFICANT BRONZEWING SOUTH PROJECT - ORELIA TREND - SIGNIFICANT BRONZEWING SOUTH PROJECT - ORELIA TREND - SIGNIFICANT BRONZEWING SOUTH PROJECT - ORELIA TREND - SIGNIFICANT BRONZEWING SOUTH PROJECT - ORELIA TREND - SIGNIFICANT INTERCEPTS(UTILISING A 0.1g/t Au CUT-OFF) INTERCEPTS(UTILISING A 0.1g/t Au CUT-OFF) INTERCEPTS(UTILISING A 0.1g/t Au CUT-OFF) INTERCEPTS(UTILISING A 0.1g/t Au CUT-OFF) INTERCEPTS(UTILISING A 0.1g/t Au CUT-OFF)
Target Hole E_GDA94 N_GDA94 RL TD **Dip ** Az_GDA From To Width Au Av(g/t)
2 BWSAC0157 293380 6974370 500 37 -60 76 No Significant Intercepts
2 BWSAC0158* 293365 6974368 500 37 -60 77 5 6 1 0.27
16 28 12 0.11
2 BWSAC0159* 293343 6974359 500 58 -60 77 37 40 3 0.23
45 46 1 0.16
2 BWSAC0160 293326 6974356 500 76 -60 72 No Significant Intercepts
2 BWSAC0161 293307 6974352 500 51 -60 77 No Significant Intercepts
2 BWSAC0162 293286 6974350 500 14 -60 81 No Significant Intercepts
2 BWSAC0163 293468 6974178 500 35 -60 78 No Significant Intercepts
2 BWSAC0164 293449 6974175 500 25 -60 78 No Significant Intercepts
2 BWSAC0165 293428 6974173 500 34 -60 78 No Significant Intercepts
2 BWSAC0166 293409 6974168 500 32 -60 78 4 8 4 0.12
24 28 4 0.10
2 BWSAC0167B 293394 6974165 500 50 -60 76 20 24 4 0.10
28 32 4 0.10
35 36 1 0.17
41 46 5 0.22
49 50 1 0.13
2 BWSAC0167A 293395 6974165 50 3 -60 75 Hole Abandoned
2 BWSAC0168* 293373 6974160 500 58 -60 75 10 11 1 0.49
46 48 2 0.13
2 BWSAC0169 293351 6974153 500 36 -60 78 No Significant Intercepts
3 BWSAC0170 293332 6974153 500 22 -60 79 No Significant Intercepts
3 BWSAC0171 295130 6973181 500 62 -60 78 No Significant Intercepts
3 BWSAC0172 295109 6973171 500 58 -60 75 No Significant Intercepts
3 BWSAC0173* 295087 6973169 500 60 -60 75 52 54 2 0.26
3 BWSAC0174 295064 6973164 500 48 -60 75 No Significant Intercepts
3 BWSAC0175* 295048 6973160 500 42 -60 75 40 42 2 0.49
incl 41 42 1 0.56
3 BWSAC0176 295027 6973156 500 35 -60 75 No Significant Intercepts
3 BWSAC0177 295006 6973151 500 48 -60 77 No Significant Intercepts
3 BWSAC0178 294988 6973145 500 44 -60 77 16 20 4 0.15
3 BWSAC0179 294970 6973143 500 57 -60 77 No Significant Intercepts
3 BWSAC0180 294948 6973140 500 53 -60 79 No Significant Intercepts
3 BWSAC0181 294935 6973139 500 45 -60 79 No Significant Intercepts
3 BWSAC0182 294910 6973130 500 39 -60 81 No Significant Intercepts
3 BWSAC0183 294986 6971969 500 42 -60 257 No Significant Intercepts
3 BWSAC0184 294999 6971972 500 40 -60 257 No Significant Intercepts
3 BWSAC0185 295019 6971977 500 44 -60 258 40 44 4 0.10
Note
* - Intercepts include split samplingresults
^ - Split samplingassayspending
Coordinates and azimuth relative to GDA 94 Zone 51
BRONZEWING SOUTH PROJECT - ORELIA TREND - SIGNIFICANT INTERCEPTS(UTILISING A 0.1g/t Au CUT-OFF)
Target Hole **E_GDA94 ** N_GDA94 RL TD Dip Az_GDA From
To
Width		 Au Av(g/t)
3 BWSAC0186 295037 6971982 500 68 -60 258 No Significant Intercepts
3 BWSAC0187 295056 6971986 500 74 -60 258 0
4
4		 0.10
62
65
3		 0.73
3 BWSAC0188* 295078 6971991 500 90 -60 259 Incl 63
65
2		 0.96
Incl 76
78
2		 0.17
3 BWSAC0189 295097 6971993 500 87 -60 258 52
56
4		 0.16
68
76
8		 0.11
3 BWSAC0190 295113 6971996 500 46 -60 254 44
46
2		 0.12
3 BWSAC0191 295135 6972004 500 42 -60 254 40
42
2		 0.14
3 BWSAC0192 295155 6972006 500 31 -60 258 No Significant Intercepts
3 BWSAC0193 295178 6972009 500 41 -60 258 36
40
4		 0.10
3 BWSAC0194 295192 6972019 500 39 -60 256 No Significant Intercepts
3 BWSAC0195 295006 6971872 500 69 -60 258 No Significant Intercepts
3 BWSAC0196* 295022 6971876 500 84 -60 257 61
62
1		 1.44
72
76
4		 0.10
3 BWSAC0197* 295046 6971879 500 69 -60 256 67
68
1		 0.86
45
47
2		 1.01
3 BWSAC0198* 295069 6971883 500 66 -60 255 57
60
3		 0.54
Incl 59
60
1		 0.95
3 BWSAC0199 295088 6971887 500 84 -60 256 No Significant Intercepts
3 BWSAC0200 295106 6971892 500 78 -60 255 No Significant Intercepts
3 BWSAC0201 295122 6971897 500 43 -60 258 No Significant Intercepts
3 BWSAC0202 295146 6971904 500 25 -60 258 No Significant Intercepts
3 BWSAC0203 295165 6971908 500 23 -60 258 No Significant Intercepts
3 BWSAC0204 295182 6971911 500 29 -60 254 No Significant Intercepts
3 BWSAC0205 295200 6971916 500 32 -60 254 28
32
4		 0.10
3 BWSAC0206 295063 6971371 500 86 -60 256 No Significant Intercepts
3 BWSAC0207* 295099 6971376 500 98 -60 256 Incl 40
42
2
40
41
1		 0.61
1.08
3 BWSAC0208 295134 6971385 500 43 -60 258 No Significant Intercepts
3 BWSAC0209 295176 6971394 500 40 -60 258 0
4
4		 0.18
36
40
4		 0.14
3 BWSAC0210 295216 6971409 500 39 -60 256 38
39
1		 0.15
3 BWSAC0211* 295118 6971379 500 87 -60 257 64
68
4		 0.22
Incl 64
65
1		 0.72
3 BWSAC0212* 295159 6971393 500 32 -60 254 0
3
3		 0.75
3 BWSAC0213 295194 6971401 500 45 -60 254 No Significant Intercepts
3 BWSAC0214 295235 6971411 500 42 -60 254 No Significant Intercepts
3 BWSAC0215 295104 6971280 500 84 -60 253 No Significant Intercepts
3 BWSAC0216 295088 6971274 500 81 -60 255 No Significant Intercepts
3 BWSAC0217 295125 6971282 500 83 -60 256 No Significant Intercepts
32
36
4		 0.10
3 BWSAC0218* 295140 6971288 500 69 -60 254 45
48
3		 0.31
Incl 45
46
1		 0.72
56
60
4		 0.19
3 BWSAC0219 295158 6971292 500 65 -60 255 No Significant Intercepts
3 BWSAC0220 295183 6971294 500 53 -60 257 No Significant Intercepts
Note
* - Intercepts include split sampling results
^ - Split samplingassayspending
Coordinates and azimuth relative to GDA 94 Zone 51
BRONZEWING SOUTH PROJECT - ORELIA TREND - SIGNIFICANT INTERCEPTS(UTILISING A 0.1g/t Au CUT-OFF) BRONZEWING SOUTH PROJECT - ORELIA TREND - SIGNIFICANT INTERCEPTS(UTILISING A 0.1g/t Au CUT-OFF) BRONZEWING SOUTH PROJECT - ORELIA TREND - SIGNIFICANT INTERCEPTS(UTILISING A 0.1g/t Au CUT-OFF) BRONZEWING SOUTH PROJECT - ORELIA TREND - SIGNIFICANT INTERCEPTS(UTILISING A 0.1g/t Au CUT-OFF) BRONZEWING SOUTH PROJECT - ORELIA TREND - SIGNIFICANT INTERCEPTS(UTILISING A 0.1g/t Au CUT-OFF) BRONZEWING SOUTH PROJECT - ORELIA TREND - SIGNIFICANT INTERCEPTS(UTILISING A 0.1g/t Au CUT-OFF) BRONZEWING SOUTH PROJECT - ORELIA TREND - SIGNIFICANT INTERCEPTS(UTILISING A 0.1g/t Au CUT-OFF) BRONZEWING SOUTH PROJECT - ORELIA TREND - SIGNIFICANT INTERCEPTS(UTILISING A 0.1g/t Au CUT-OFF) BRONZEWING SOUTH PROJECT - ORELIA TREND - SIGNIFICANT INTERCEPTS(UTILISING A 0.1g/t Au CUT-OFF) BRONZEWING SOUTH PROJECT - ORELIA TREND - SIGNIFICANT INTERCEPTS(UTILISING A 0.1g/t Au CUT-OFF) BRONZEWING SOUTH PROJECT - ORELIA TREND - SIGNIFICANT INTERCEPTS(UTILISING A 0.1g/t Au CUT-OFF) BRONZEWING SOUTH PROJECT - ORELIA TREND - SIGNIFICANT INTERCEPTS(UTILISING A 0.1g/t Au CUT-OFF) BRONZEWING SOUTH PROJECT - ORELIA TREND - SIGNIFICANT INTERCEPTS(UTILISING A 0.1g/t Au CUT-OFF)
Target Hole **E_GDA94 ** N_GDA94 RL TD Dip Az_GDA From To Width Au Av(g/t)
3 BWSAC0221 295201 6971301 500 48 -60 259 No Significant Intercepts
3 BWSAC0222A 295222 6971304 500 10 -60 259 Hole Abandoned
3 BWSAC0222B 295225 6971306 500 49 -60 259 No Significant Intercepts
3 BWSAC0223 295241 6971311 500 48 -60 260 No Significant Intercepts
3 BWSAC0224 295044 6970643 500 54 -60 256 No Significant Intercepts
3 BWSAC0225 295060 6970652 500 62 -60 251 No Significant Intercepts
3 BWSAC0226 295080 6970656 500 67 -60 253 No Significant Intercepts
3 BWSAC0227 295101 6970661 500 72 -60 252 No Significant Intercepts
3 BWSAC0228* 295121 6970665 500 73 -60 250 37 39 2 0.21
48 52 4 0.33
48 52 4 0.33
Incl 49 50 1 0.72
3 BWSAC0229 295141 6970672 500 65 -60 256 24 28 4 0.10
32 36 4 0.12
52 56 4 0.12
64 65 1 0.14
3 BWSAC0230 295161 6970674 500 60 -60 257 No Significant Intercepts
3 BWSAC0231* 295183 6970678 500 60 -60 257 48 50 2 0.55
Incl 48 49 1 0.98
3 BWSAC0232 295042 6970751 500 66 -60 255 No Significant Intercepts
3 BWSAC0233 295062 6970758 500 66 -60 256 No Significant Intercepts
3 BWSAC0234 295076 6970761 500 70 -60 252 No Significant Intercepts
3 BWSAC0235* 295092 6970765 500 71 -60 254 16 20 4 0.09
35 36 1 0.29
52 53 1 0.33
3 BWSAC0236* 295114 6970773 500 72 -60 255 46 52 6 0.74
Incl 47 50 3 1.19
3 BWSAC0237 295134 6970778 500 72 -60 256 No Significant Intercepts
3 BWSAC0238 295157 6970784 500 73 -60 257 48 56 8 0.15
3 BWSAC0239 295175 6970787 500 69 -60 253 No Significant Intercepts
3 BWSAC0240 295192 6970787 500 75 -60 253 No Significant Intercepts
1 BWSAC0241 291979 6975948 500 50 -60 77 No Significant Intercepts
1 BWSAC0242 291965 6975943 500 63 -60 80 No Significant Intercepts
1 BWSAC0243* 291905 6975931 500 33 -60 73 8 14 6 0.18
Incl 13 14 1 0.54
1 BWSAC0244 291888 6975931 500 42 -60 70 32 36 4 0.10
1 BWSAC0245 291747 6976663 500 24 -60 70 No Significant Intercepts
1 BWSAC0246* 291729 6976662 500 24 -60 71 17 18 1 1.24
1 BWSAC0247 291709 6976654 500 13 -60 71 No Significant Intercepts
1 BWSAC0248 291689 6976648 500 48 -60 71 No Significant Intercepts
1 BWSAC0249 291684 6976495 500 45 -60 71 No Significant Intercepts
1 BWSAC0250 291736 6976404 500 49 -60 71 12 24 12 0.12
incl. 12 16 4 0.21
1 BWSAC0251* 291697 6976605 500 45 -60 71 17 24 7 0.35
Incl 18 19 1 1.26
1 BWSAC0252 291677 6976551 500 25 -60 77 No Significant Intercepts
1 BWSAC0253* 291695 6976442 500 58 -60 74 47 49 2 0.18
1 BWSAC0254* 291716 6976399 500 60 -60 74 39 40 1 0.29
43 44 1 0.10
Note
* - Intercepts include split samplingresults
^ - Split samplingassayspending
Coordinates and azimuth relative to GDA 94 Zone 51

JORC Code, 2012 Edition

Table 1 report – Bronzewing South Project Exploration Update

  • This table is to accompany an ASX release updating the market with drilling from areas within the Hammer Metals Bronzewing South project. Results reported herein relate to drillholes BWSAC0001 to BWSAC0254. All assay results have now been reported from the Orelia 2019 drilling program.

  • Historic exploration data noted in this and previous releases has been compiled and validated. It is the opinion of Hammer Metals that the exploration data are reliable.

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections in this information release.)

Criteria JORC Code explanation Commentary
Sampling
techniques		 Nature and quality of sampling (eg cut
channels,
random
chips,
or
specific
specialised industry standard measurement
tools appropriate to the minerals under
investigation, such as down hole gamma
sondes, or handheld XRF instruments, etc).
These examples should not be taken as
limiting the broad meaning of sampling.
Include reference to measures taken to
ensure
sample
representivity
and
the
appropriate calibration of any measurement
tools or systems used.
Aspects
of
the
determination
of
mineralisation that are Material to the Public
Report.
In cases where ‘industry standard’ work has
been done this would be relatively simple (eg
‘reverse circulation drilling was used to obtain
1 m samples from which 3 kg was pulverised
to produce a 30 g charge for fire assay’). In
other cases, more explanation may be
required, such as where there is coarse gold
that
has
inherent
sampling
problems.
Unusual commodities or mineralisation types
(eg
submarine
nodules)
may
warrant
disclosure of detailed information.		 DRILLING BWSAC0001-BWSAC0254
•
261 Air Core (AC) holes were drilled for a
total of 11,116m.
•
3kg samples were scooped from the
drillhole chip return and bagged for each
drilled metre.
•
Drill chip samples were taken at
dominantly four metre intervals, with a
scoop
from
each
drilled
metre
contributing to a composite sample.
•
Where mineralisation was anticipated or
encountered, the sample length was
reduced to 1m with lab submission of the
1m samples.
•
If a 4m composite sample was assayed
and found to contain elevated gold
grades the
individual
1m samples
pertaining to this four-metre interval were
submitted for analysis.
•
All
samples
submitted
for
assay
underwent fine crush with 1kg riffled off
for pulverising to 75 microns.
•
Samples were submitted to Intertek in
Kalgoorlie for:
•
Fire Assay with AAS finish for gold.
•ICP MS for a 48-element suite
(bottom of hole samples only).
•Select holes were also analysed via
portable
XRF
(conducted
under
laboratory conditions).
•Reanalyses were conducted on
select samples to investigategold
Criteria JORC Code explanation Commentary
assay repeatability.
Drilling
techniques		 Drill type (eg core, reverse circulation, open-
hole hammer, rotary air blast, auger, Bangka,
sonic, etc) and details (eg core diameter,
triple or standard tube, depth of diamond
tails, face-sampling bit or other type, whether
core is oriented and if so, by what method,
etc).		 •
Holes were drilled by Raglan Drilling
utilising an in-house designed air core
truck-mounted drill rig.
•
Holes
were
drilling
using
aircore
technique which uses a blade to produce
broken core and large chips. Hard rock
was drilled by switching to reverse
circulation mode using a face sampling
hammer.
HISTORIC DRILLING
•
The reader is referred to HMX ASX
release dated 14 March 2019 for details
on historic drilling.
Drill
sample
recovery		 Method of recording and assessing core and
chip
sample
recoveries
and
results
assessed.
Measures
taken
to
maximise
sample
recovery and ensure representative nature of
the samples.
Whether a relationship exists between
sample recovery and grade and whether
sample bias may have occurred due to
preferential loss/gain of fine/coarse material.		 •
Sample recoveries were generally in
excess of 80%. Recovery dropped in the
shallow portion of holes and in zones of
strong water inflow.
•
In
zones
where
recovery
was
compromised holes were terminated.
•
No sample recovery bias has been
noted.
HISTORIC DRILLING
•
The reader is referred to HMX ASX
release dated 14 March 2019 for details
on historic drilling.
Logging Whether core and chip samples have been
geologically and geotechnically logged to a
level of detail to support appropriate Mineral
Resource estimation, mining studies and
metallurgical studies.
Whether logging is qualitative or quantitative
in nature. Core (or costean, channel, etc)
photography.
The total length and percentage of the
relevant intersections logged.		 •
All drill chips were geologically logged by
Hammer Metals Limited Geologists.
•
Drill spoil piles were photographed for
each hole.
•
A small sample of chips was collected for
the last metre of each hole.
•
Each drillhole was qualitatively logged in
its entirety for geology.
•
Selected intervals from each drillhole
were quantitatively logged on-site using
an
Olympus
Vanta
portable
XRF
instrument.
HISTORIC DRILLING
Criteria JORC Code explanation Commentary
•
The reader is referred to HMX ASX
release dated 14 March 2019 for details
on historic drilling.
Sub-
sampling
techniques
and sample
preparation		 If core, whether cut or sawn and whether
quarter, half or all core taken.
If non-core, whether riffled, tube sampled,
rotary split, etc and whether sampled wet or
dry.
For all sample types, the nature, quality and
appropriateness of the sample preparation
technique.
Quality control procedures adopted for all
sub-sampling
stages
to
maximise
representivity of samples.
Measures taken to ensure that the sampling
is representative of the insitu material
collected, including for instance results for
field duplicate/second-half sampling.
Whether sample sizes are appropriate to the
grain size of the material being sampled.		 •Samples consist of aircore and RC drill
chips.
•
Samples from the hole were collected by
scooping material from the sample return
piles.
•
Drill chip samples
were taken at
dominantly four metre intervals with
samples being composited combining
scooped material from each one metre
sample return pile.
•
Where evidence of mineralisation was
encountered or anticipated, the sample
length was reduced to 1m. Approximately
30% of collected samples were 1m
intervals.
•Sample
collection
methodology
and
sample size is considered appropriate to
the target-style and drill method, and
appropriate laboratory analytical methods
were employed.
•Standard reference samples and blanks
were each inserted into the laboratory
submissions at a rate of 1 per 25 samples.
•The average sample submitted to the lab
was 3kg. This sample sizes submitted for
analysis were appropriate for the style of
mineralisation sought.
•The method of sample collection, use of
compositing where appropriate and lab
methods are appropriate for this style of
mineralisation.
HISTORIC DRILLING
•
The reader is referred to HMX ASX
release dated 14 March 2019 for details
on historic drilling.
Quality
of
assay data
and
laboratory
tests		 The nature, quality and appropriateness of
the assaying and laboratory procedures used
and whether the technique is considered
partial or total.		 •All samples were analysed for gold by
flame AAS using a 50gm charge.
•For each hole, the bottom of hole sample
was analysed by Intertek for a range of
elements byICP(MS) aftera4-acid
Criteria JORC Code explanation Commentary
For
geophysical
tools,
spectrometers,
handheld
XRF
instruments,
etc,
the
parameters used in determining the analysis
including instrument make and model,
reading times, calibrations factors applied
and their derivation, etc.
Nature of quality control procedures adopted
(eg standards, blanks, duplicates, external
laboratory checks) and whether acceptable
levels of accuracy (ie lack of bias) and
precision have been established.		 digest.
•Select drill lines were also subjected to
XRF analysis at the laboratory. Select
field portable XRF analysis was also
conducted.
•Standard reference samples and blanks
were inserted at 25 sample intervals.
Intertek also maintained a comprehensive
QAQC regime, including check samples,
duplicates, standard reference samples,
blanks and calibration standards.
Verification
of
sampling
and
assaying		 The verification of significant intersections by
either independent or alternative company
personnel.
The use of twinned holes.
Documentation of primary data, data entry
procedures, data verification, data storage
(physical and electronic) protocols.
_Discuss any adjustment to assay data. _		 •
All assays have been verified by
alternate company personnel.
•
Assay files were received electronically
from the laboratory.
Location of
data points		 Accuracy and quality of surveys used to
locate drill holes (collar and down-hole
surveys), trenches, mine workings and other
locations
used
in
Mineral
Resource
estimation.
Specification of the grid system used.
Quality and adequacy of topographic control.		 •
Datum used is UTM GDA 94 Zone 51.
•
RL information will merged at a later date
utilising the most accurately available
elevation data.
Data
spacing
and
distribution		 Data spacing for reporting of Exploration
Results.
Whether the data spacing and distribution is
sufficient
to
establish
the
degree
of
geological and grade continuity appropriate
for the Mineral Resource and Ore Reserve
estimation procedure(s) and classifications
applied.
Whether sample compositing has been
_applied. _		 •The drill density is not sufficient to
establish grade continuity.
•Assays were taken on 1 and 4m sample
lengths. 1m length was preferred in areas
of potential mineralisation.
•
The average grade has been utilised
where multiple repeat analyses have
been conducted on a single sample.
Orientation
of data in
relation to
geological
structure		 Whether the orientation of sampling achieves
unbiased sampling of possible structures and
the extent to which this is known, considering
the deposit type.
If the relationship between the drilling
orientation and the orientation of key
mineralised structures is considered to have
introduced a sampling bias, this should be
assessed and reported if material.		 •Drill holes were oriented as close to
perpendicular
as
possible
to
the
interpreted orientation of the targets
based on interpretation of previous
exploration.
Criteria JORC Code explanation JORC Code explanation Commentary Commentary
Sample
security		 The measures taken to ensure sample
security.		 •
Pre-numbered bags were used, and
samples were transported to Intertek in
Kalgoorlie by both company personnel
and a commercial carrier. Samples were
packed within sealed bulka bags.
Audits
or
reviews		 The results of any audits or reviews of
sampling techniques and data.		 •
The dataset associated with this reported
exploration has been subject to data
import validation.
•
All assay data has been reviewed by two
company personnel.
•
No external audits have been conducted.
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
Criteria **JORC Code explanation ** Commentary
Mineral
tenement and
land
tenure
status		 Type, reference name/number, location and
ownership including agreements or material
issues with third parties such as joint
ventures, partnerships, overriding royalties,
native
title
interests,
historical
sites,
wilderness
or
national
park
and
environmental settings.
The security of the tenure held at the time of
reporting
along
with
any
known
impediments to obtaining a licence to
operate in the area.		 •
The
Bronzewing
South
Project
comprises
granted
tenements:
E36/854, E36/868, E36/869, E36/870,
E36/916, P36/1857 and P36/1858.
•
These tenements are 100% held by
Carnegie Exploration Pty Ltd. The
tenements are in good standing.
Carnegie Exploration Pty Ltd is a 100%
owned subsidiary of Hammer Metals
Limited.
•
The sampling reported herein was
conducted on E36/869 and E36/870.
Exploration
done by other
parties		 Acknowledgment
and
appraisal
of
exploration by other parties.		 •
Previous holders held title either
covering the tenement in part or entirely
and previous results are contained in
Mines Department records.
•
In excess of 2200 holes and 99km of
drilling
has
been
conducted
by
Newmont Exploration Pty Ltd, Audax
Resources
NL
and
Australian
Resources Ltd over the entire project
area.
•
This data has been compiled by
Carnegie Exploration Pty Ltd
•
Tabulation of this drilling according to
trend, exploration licence, drill type and
drill type was presented in a HMX
release to the ASX dated 14 March
2019.
Criteria **JORC Code explanation ** Commentary
GEOPHYSICS
•
Hammer Metals recently re-modelled a
2006-2007
ground
electromagnetic
survey which was conducted over the
Kens
Bore
Prospect
by
Audax
Resources Limited. This survey was
reported to the Mines Department in the
Audax Statutory report for E36/215
(A074761).
•
The Hammer geophysical modelling
was
conducted
by
Southern
Geoscience Consultants. The firm
reported that the data quality was good
and free of errors.
•
The
modelling
resulted
in
the
delineation of a anomaly under the
highest rock chip gold grades at Kens
Bore.
Geology Deposit type, geological setting and style of
mineralisation.		 •
The Bronzewing South project is
exploring for Bronzewing and/or Mt
McClure analogues along strike from
each mine.
•
The project is located within the Yandal
Greenstone Belt approximately 65km
northeast of Leinster. The Yandal Belt
is approximately 250km long by 50km
wide and hosts the Jundee, Darlot,
Thunderbox,
Bronzewing
and
Mt
McClure Group of gold deposits. In the
Bronzewing
area
the
greenstone
succession is dominated by tholeiitic
basalts and dolerite units with lesser
ultramafic,
felsic
and
sediment
sequences.
•
Gold mineralisation at theBronzewing
mine occurs in quartz veins (sub-
parallel vein arrays) in complex pipe-
like lodes that plunge steeply to the
south within a 400m wide structural
corridor. The north-south corridor is
roughly coincident with an antiformal
structure and extends to the south
through E36/854. Bedrock does not
outcrop within E36/854 and drilling
indicates that surficial cover ranges
between 2m and 40m in thickness.
Drill
hole
Information		 A summary of all information material to the
understanding of the exploration results
including a tabulation of the following
information for all Material drill holes:
easting and northing of the drill hole collar		 .
•
See the attached tables.
Criteria **JORC Code explanation ** Commentary
elevation or RL (Reduced Level – elevation
above sea level in metres) of the drill hole
collar dip and azimuth of the hole
down hole length and interception depth
hole length.
If the exclusion of this information is justified
on the basis that the information is not
Material and this exclusion does not detract
from the understanding of the report, the
Competent Person should clearly explain
_why this is the case. _		 HISTORIC DRILLING
•
The reader is referred to HMX ASX
release dated 14 March 2019 for details
on historic drilling.
Data
aggregation
methods		 In reporting Exploration Results, weighting
averaging techniques, maximum and/or
minimum grade truncations (eg cutting of
high grades) and cut-off grades are usually
Material and should be stated.
Where aggregate intercepts incorporate
short lengths of high grade results and
longer lengths of low grade results, the
procedure used for such aggregation
should
be
stated
and
some
typical
examples of such aggregations should be
shown in detail.
The assumptions used for any reporting of
metal equivalent values should be clearly
_stated. _		 •Intercepts are quoted at a 0.1g/t Gold
cut-off
with
included
intercepts
highlighting zones of increased Gold
Grade.
HISTORIC DRILLING
•
The reader is referred to HMX ASX
release dated 14 March 2019 for details
on historic drilling.
Relationship
between
mineralisation
widths
and
intercept
lengths		 These
relationships
are
particularly
important in the reporting of Exploration
Results.
If the geometry of the mineralisation with
respect to the drill hole angle is known, its
nature should be reported.
If it is not known and only the down hole
lengths are reported, there should be a
clear statement to this effect (eg ‘down hole
_length, true width not known’). _		 •The relationship between intersected
and true widths for HMX drilling is
currently not known with any certainty.
HISTORIC DRILLING
•
The reader is referred to HMX ASX
release dated 14 March 2019 for details
on historic drilling.
Diagrams Appropriate maps and sections (with
scales) and tabulations of intercepts should
be included for any significant discovery
being reported These should include, but
not be limited to a plan view of drill hole
collar locations and appropriate sectional
_views. _		 •See attached figures
Balanced
reporting		 Where comprehensive reporting of all
Exploration Results is not practicable,
representative reporting of both low and
high grades and/or widths should be
practiced avoiding misleading reporting of
Exploration Results.		 •Intersections derived from laboratory
analysis are reported at cut-off grades of
0.1g/t Au.
•The reader can therefore assume that
any portions of a drillhole that are not
quoted in the intercept tables contain
gradesless that the quoted cut-off.
Criteria **JORC Code explanation ** Commentary
HISTORIC DRILLING
•
The reader is referred to HMX ASX
release dated 14 March 2019 for details
on historic drilling.
Other
substantive
exploration
data		 Other exploration data, if meaningful and
material, should be reported including (but
not limited to): geological observations;
geophysical survey results; geochemical
survey results; bulk samples – size and
method of treatment; metallurgical test
results;
bulk
density,
groundwater,
geotechnical
and
rock
characteristics;
potential
deleterious
or
contaminating
substances.		 HISTORIC DRILLING
•
The reader is referred to HMX ASX
release dated 14 March 2019 for details
on historic drilling.
GEOPHYSICS
•
Hammer Metals recently re-modelled a
2006-2007
ground
electromagnetic
survey which was conducted over the
Kens
Bore
Prospect
by
Audax
Resources Limited. This survey was
reported to the Mines Department in the
Audax Statutory report for E36/215
(A074761).
•
The Hammer geophysical modelling
was
conducted
by
Southern
Geoscience Consultants. The firm
reported that the data quality was good
and free of errors.
•
The
modelling
resulted
in
the
delineation of a anomaly under the
highest rock chip gold grades at Kens
Bore.
Further work The nature and scale of planned further
work (eg tests for lateral extensions or
depth extensions or large-scale step-out
drilling).
Diagrams clearly highlighting the areas of
possible extensions, including the main
geological interpretations and future drilling
areas, provided this information is not
commercially sensitive.		 •
Hammer plans to further test identified
targets along the Orelia trend, and at
Bronzewing South and Kens Bore.

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